Company Registration No. 01072947 (England and Wales)
A E GENET HOLDINGS LIMITED
ANNUAL REPORT AND UNAUDITED
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
TWP Accounting LLP
Chartered Accountants
The Old Rectory
Church Street
Weybridge
Surrey
KT13 8DE
A E GENET HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
A E GENET HOLDINGS LIMITED
Company Registration No. 01072947
BALANCE SHEET
AS AT
30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment properties
4
1,830,000
1,830,000
Investments
5
804,407
-
0
2,634,407
1,830,000
Current assets
Debtors
6
298,493
40,056
Cash at bank and in hand
976,619
2,357,215
1,275,112
2,397,271
Creditors: amounts falling due within one year
7
(98,292)
(452,553)
Net current assets
1,176,820
1,944,718
Total assets less current liabilities
3,811,227
3,774,718
Provisions for liabilities
(136,975)
(136,968)
Net assets
3,674,252
3,637,750
Capital and reserves
Called up share capital
8
557,928
557,928
Profit and loss reserves
3,116,324
3,079,822
Total equity
3,674,252
3,637,750

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial Period ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

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 members have not required the company to obtain an audit of its financial statements for the Period in question in accordance with section 476.

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

A E GENET HOLDINGS LIMITED
Company Registration No. 01072947
BALANCE SHEET (CONTINUED)
AS AT
30 NOVEMBER 2024
30 November 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 July 2025 and are signed on its behalf by:
E A Goree
Director
A E GENET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

A E Genet Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Silverland Stone, Holloway Hill, Chertsey, Surrey, KT16 0AE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.

1.2
Reporting period

The annual financial statements are presented for one year less 7 days, from 7 December 2023 to 30 November 2024. The comparative amounts presented are not entirely comparable.

1.3
Turnover

Turnover comprises revenue recognised by the company in respect of rental income, exclusive of Value Added Tax and trade discounts. The proportion of rental income that relates to later periods is carried forward as deferred income within creditors.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Equipment
25% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.5
Investment properties

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

 

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

A E GENET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

 

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Investments held as fixed assets are shown at the loan value less provision for irrecoverable amounts. Interest income from the loan is included on a receivable basis.

1.7
Cash at bank and in hand

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments
Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

A E GENET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 5 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

2
Employees

The average monthly number of persons (including directors) employed by the company during the Period was:

2024
2023
Number
Number
Total
4
4
3
Tangible fixed assets
Plant and machinery etc
£
Cost
At 7 December 2023 and 30 November 2024
13,043
Depreciation and impairment
At 7 December 2023 and 30 November 2024
13,043
Carrying amount
At 30 November 2024
-
0
At 6 December 2023
-
0
A E GENET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 6 -
4
Investment property
2024
£
Fair value
At 7 December 2023 and 30 November 2024
1,830,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out in April 2018 by Curchod & Co Chartered Surveyors Land Property & Construction Consultants, who are not connected with the company. The Directors have considered the current market valuation and believe that there has been a change in one of the properties and this has been revalued this year.

5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
1
-
0
Other investments other than loans
804,406
-
0
804,407
-
0
Movements in fixed asset investments
Shares in associates
Other investments
Total
£
£
£
Cost or valuation
At 7 December 2023
-
-
-
Additions
1
804,406
804,407
At 30 November 2024
1
804,406
804,407
Carrying amount
At 30 November 2024
1
804,406
804,407
At 6 December 2023
-
-
-
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
38,315
39,783
Amounts owed by group undertakings
259,892
-
0
Other debtors
286
273
298,493
40,056
A E GENET HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2024
- 7 -
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
3,964
8,023
Taxation and social security
74,769
427,027
Other creditors
19,559
17,503
98,292
452,553
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of 10p each
619,920
619,920
61,992
61,992
Ordinary A shares of 10p each
4,959,360
4,959,360
495,936
495,936
5,579,280
5,579,280
557,928
557,928
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