Company Registration No. 14746156 (England and Wales)
Grey Genesis Limited
Unaudited accounts
for the period from 21 March 2023 to 31 March 2024
Grey Genesis Limited
Unaudited accounts
Contents
Grey Genesis Limited
Company Information
for the period from 21 March 2023 to 31 March 2024
Company Number
14746156 (England and Wales)
Registered Office
22 Great North Road
Brookmans Park
Hatfield
Hertfordshire
AL9 6NF
United Kingdom
Accountants
Evolve Accounting and Tax Solutions Ltd
Congress House
14 Lyon Road
Harrow
Middlesex
HA1 2EN
Grey Genesis Limited
Statement of financial position
as at 31 March 2024
Investment property
792,401
Cash at bank and in hand
100
Creditors: amounts falling due within one year
(18,830)
Net current liabilities
(18,730)
Total assets less current liabilities
773,671
Creditors: amounts falling due after more than one year
(773,782)
Called up share capital
100
Profit and loss account
(211)
For the period ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 March 2025 and were signed on its behalf by
D J O'Hara
Director
Company Registration No. 14746156
Grey Genesis Limited
Notes to the Accounts
for the period from 21 March 2023 to 31 March 2024
Grey Genesis Limited is a private company, limited by shares, registered in England and Wales, registration number 14746156. The registered office is 22 Great North Road, Brookmans Park, Hatfield, Hertfordshire, AL9 6NF, United Kingdom.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.
2.1 Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:
Rendering of services
Revenue from a contract to provide services is recognised in the year in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
1. The amount of revenue can be measured reliably;
2. It is probable that the Company will receive the consideration due under the contract;
3. The stage of completion of the contract at the end of the reporting period can be measured reliably; and
4. The costs incurred and the costs to complete the contract can be measured reliably.
Revenue represents rents receivable from investment property. Revenue is recognised as it falls due, in accordance with the lease to which it relates.
Grey Genesis Limited
Notes to the Accounts
for the period from 21 March 2023 to 31 March 2024
Tax is recognised in the Statement of comprehensive income except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date. except that:
1. The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
2. Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
Investment properties are properties held to earn rent and or capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of the investment properties are included in the Statement of comprehensive income in the year in which they arise.
2.6 Cash and cash equivalent
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
4
Creditors: amounts falling due within one year
2024
5
Creditors: amounts falling due after more than one year
2024
Amounts owed to group undertakings and other participating interests
773,782
Grey Genesis Limited
Notes to the Accounts
for the period from 21 March 2023 to 31 March 2024
6
Transactions with related parties
Included within amounts owed to related undertakings due after more than one year is an amount of £773,782 (2023 £Nil) due to a company controlled by close family members of the directors, comprising a loan and expenses for the purchase of an investment property.
There is no ultimate controlling party.
8
Average number of employees
During the period the average number of employees was 1.