Caseware UK (AP4) 2024.0.164 2024.0.164 2024-03-312024-03-312023-04-01falseNo description of principal activity1312falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01206787 2023-04-01 2024-03-31 01206787 2022-04-01 2023-03-31 01206787 2024-03-31 01206787 2023-03-31 01206787 c:Director2 2023-04-01 2024-03-31 01206787 d:FurnitureFittings 2023-04-01 2024-03-31 01206787 d:FurnitureFittings 2024-03-31 01206787 d:FurnitureFittings 2023-03-31 01206787 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01206787 d:ComputerEquipment 2023-04-01 2024-03-31 01206787 d:ComputerEquipment 2024-03-31 01206787 d:ComputerEquipment 2023-03-31 01206787 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01206787 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01206787 d:ComputerSoftware 2024-03-31 01206787 d:ComputerSoftware 2023-03-31 01206787 d:CurrentFinancialInstruments 2024-03-31 01206787 d:CurrentFinancialInstruments 2023-03-31 01206787 d:Non-currentFinancialInstruments 2024-03-31 01206787 d:Non-currentFinancialInstruments 2023-03-31 01206787 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01206787 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01206787 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 01206787 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 01206787 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2024-03-31 01206787 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-03-31 01206787 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2024-03-31 01206787 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-03-31 01206787 d:ShareCapital 2024-03-31 01206787 d:ShareCapital 2023-03-31 01206787 d:RetainedEarningsAccumulatedLosses 2024-03-31 01206787 d:RetainedEarningsAccumulatedLosses 2023-03-31 01206787 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01206787 c:OrdinaryShareClass1 2024-03-31 01206787 c:OrdinaryShareClass1 2023-03-31 01206787 c:FRS102 2023-04-01 2024-03-31 01206787 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01206787 c:FullAccounts 2023-04-01 2024-03-31 01206787 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01206787 2 2023-04-01 2024-03-31 01206787 d:ComputerSoftware d:OwnedIntangibleAssets 2023-04-01 2024-03-31 01206787 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 01206787














GENESIS PUBLICATIONS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED  31 MARCH 2024

 
GENESIS PUBLICATIONS LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
GENESIS PUBLICATIONS LIMITED
REGISTERED NUMBER:01206787

STATEMENT OF FINANCIAL POSITION
AS AT 31 MARCH 2024

2024
2023
Note
£
£

Fixed assets
  

Intangible fixed assets
  
6,075
10,688

Tangible fixed assets
  
29,499
32,656

  
35,574
43,344

Current assets
  

Stocks
  
1,445,962
1,398,613

Debtors: amounts falling due within one year
 6 
1,052,186
805,978

Bank and cash balances
  
69,963
107,534

  
2,568,111
2,312,125

Current liabilities
  

Creditors: amounts falling due within one year
 7 
(2,239,994)
(1,886,689)

Net current assets
  
 
 
328,117
 
 
425,436

Total assets less current liabilities
  
363,691
468,780

Creditors: amounts falling due after more than one year
 8 
(31,769)
(37,726)

Provisions for liabilities
  

Deferred tax
  
(8,241)
(5,600)

Net assets
  
323,681
425,454


Capital and reserves
  

Called up share capital 
 10 
2
2

Profit and loss account
  
323,679
425,452

  
323,681
425,454


Page 1

 
GENESIS PUBLICATIONS LIMITED
REGISTERED NUMBER:01206787
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 MARCH 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 26 March 2025.




N Roylance
Director

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

Genesis Publications Limited is a limited liability company registered in England and Wales. Its registered office address is at 5 Elstree Gate, Elstree Way, Borehamwood, Hertfordshire, WD6 1JD.
The principal activity of the Company was that of book and print publishing.

2.Accounting policies

 
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.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

 
2.3

Revenue

Turnover represents net invoiced sales of goods, excluding Value Added Tax.
The Company policy is to recognise sales invoiced in the year. Sales are reduced for customer returns, rebates and similar allowances.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.5

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.6

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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:
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
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.


Page 4

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.11

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Fixtures and fittings
-
15%
Computer equipment
-
25%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Deferred tax liabilities are also presented within provisions but are measured in accordance with the accounting policy on taxation.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 5

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.14

Basic financial instruments


The Company only enters into transactions that result in basic financial instruments such as trade and other debtors, trade and other creditors, cash at bank and in hand, loans to related parties. 
Trade creditors, other creditors and loans from related parties are recognised initially at transaction price plus attributable transaction costs. Subsequently they are measured at amortised cost using the effective interest method, less any impairment losses in the case of trade and other debtors, and loans to related parties. 
Interest bearing borrowings, such bank loans, classified as basic financial instruments are recognised initially at the present value of future payments discounted at a market rate of interest. Thereafter they are stated at amortised cost using the effective interest method. 
Cash and cash equivalents comprise cash balances and call deposits. 

 
2.15

Dividends

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 at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 13 (2023 - 12).

Page 6

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Intangible assets




Computer software

£



Cost


At 1 April 2023
23,063



At 31 March 2024

23,063



Amortisation


At 1 April 2023
12,375


Charge for the year on owned assets
4,613



At 31 March 2024

16,988



Net book value



At 31 March 2024
6,075



At 31 March 2023
10,688



Page 7

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


Tangible fixed assets





Fixtures and fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 April 2023
198,549
227,832
426,381


Additions
532
3,765
4,297



At 31 March 2024

199,081
231,597
430,678



Depreciation


At 1 April 2023
185,900
207,825
393,725


Charge for the year on owned assets
1,924
5,529
7,453



At 31 March 2024

187,824
213,354
401,178



Net book value



At 31 March 2024
11,257
18,243
29,500



At 31 March 2023
12,649
20,007
32,656


6.


Debtors

2024
2023
£
£


Trade debtors
470,956
330,788

Other debtors
191,972
180,951

Prepayments and accrued income
389,258
294,239

1,052,186
805,978


Page 8

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,955
5,956

Trade creditors
786,592
540,292

Amounts owed to group undertakings
109,798
71,398

Other taxation and social security
8,767
11,325

Other creditors
1,240,043
1,075,802

Accruals and deferred income
88,839
181,916

2,239,994
1,886,689



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
31,769
37,726



9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
5,955
5,956


Amounts falling due 2-5 years

Bank loans
23,826
23,826

Amounts falling due after more than 5 years

Bank loans
7,943
13,901

37,724
43,683



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



2 (2023 - 2) Ordinary shares of £1.00 each
2
2


Page 9

 
GENESIS PUBLICATIONS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

11.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £36,422 (2023 - £36,005). Contributions totalling £696 (2023 - £578) were payable to the fund at the reporting date and are included in creditors.


12.


Related party transactions

The Company forms part of a wholly-owned group and accordingly has taken advantage of the exemption allowed under section 33.1A of FRS 102 not to disclose transactions with other group companies.


13.


Controlling party

During the year, Origo Holdings Limited controlled the Company by virtue of a controlling interest of 100% of the issued share capital.

 
Page 10