Company No:
Contents
Note | 2024 | 2023 | ||
£ | £ | |||
Fixed assets | ||||
Investments | 3 |
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800,000 | 800,000 | |||
Current assets | ||||
Debtors |
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100 | 100 | |||
Creditors: amounts falling due within one year | 4 | (
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Net current liabilities | (74,900) | (74,900) | ||
Total assets less current liabilities | 725,100 | 725,100 | ||
Creditors: amounts falling due after more than one year | 5 | (
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Net assets |
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Capital and reserves | ||||
Called-up share capital |
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Profit and loss account |
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Total shareholders' funds |
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Directors' responsibilities:
These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Genesis Asset Finance Holdings Limited (registered number:
A Frost
Director |
E Frost
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Genesis Asset Finance Holdings Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 60 Surrey Street, Glossop, SK13 7AJ, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Investments
Investments in subsidiaries are measured at cost less accumulated impairment.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders.
2024 | 2023 | ||
Number | Number | ||
Monthly average number of persons employed by the Company during the year, including directors |
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The Company has no employees other than the directors, who did not receive any remuneration (2023: £NIL).
Investments in subsidiaries
2024 | |
£ | |
Cost | |
At 01 December 2023 |
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At 30 November 2024 |
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Carrying value at 30 November 2024 |
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Carrying value at 30 November 2023 |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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2024 | 2023 | ||
£ | £ | ||
Other creditors |
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