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THIS IS GENIUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
This Is Genius Limited is a private company limited by shares incorporated in the UK and registered in England and Wales. The registered office is 34 Sherwood Road, Bromsgrove, B60 3DR.
2.ACCOUNTING POLICIES
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BASIS OF PREPARATION OF FINANCIAL STATEMENTS
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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 preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.
The Company's functional and presentational currency is GBP. All amounts in the financial statements have been rounded to the nearest GBP.
The directors have reviewed budgets and forecasts for a period of 12 months from approval of the financial statements. Considering this and profits generated by the company, as well as adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
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CASH AND CASH EQUIVALENTS
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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.
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Amounts owed by group undertakings
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ALLOTTED, CALLED UP AND FULLY PAID
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1 (2023: 1) Ordinary share of £1.00
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