REGISTERED NUMBER: 04314936 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GENIAL GENETIC SOLUTIONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr J Bender

SECRETARY:

Mr J A Evans

REGISTERED OFFICE:

Unit 62 Coworkz Business Centre

Minerva Avenue, Off Sovereign Way

Chester

Flintshire

CH1 4QL

REGISTERED NUMBER:

04314936 (England and Wales)

AUDITORS:

Kings CAP Ltd

Statutory Auditor

4 Grovelands

Boundary Way

Hemel Hempstead

Hertfordshire

HP2 7TE

FIXED ASSETS

Tangible assets

4

28,825

19,338

CURRENT ASSETS

Stocks

5

18,966

-

Debtors

6

1,056,641

1,248,010

Cash at bank

117,916

201,753

1,193,523

1,449,763

CREDITORS

Amounts falling due within one year

7

1,024,245

1,349,189

NET CURRENT ASSETS

169,278

100,574

TOTAL ASSETS LESS CURRENT LIABILITIES

198,103

119,912

CAPITAL AND RESERVES

Called up share capital

8

1,497

1,497

Share premium

23,519

23,519

Retained earnings

173,087

94,896

SHAREHOLDERS' FUNDS

198,103

119,912

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

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 September 2025 and were signed by:

Mr J Bender - Director

1.	STATUTORY INFORMATION

Genial Genetic Solutions Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The company's going concern status is dependent upon the continued financial support of the parent undertaking. Having made appropriate enquiries at the time of approving these accounts the director considers that the company and the parent undertaking have adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis in preparing these accounts.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Short leasehold

-

20% on cost

Fixtures and fittings

-

15% on cost

Computer equipment

-

25% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group undertakings, 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.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Hire purchase and leasing commitments

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

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2023 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Short

and

Computer

leasehold

fittings

equipment

Totals

£

£

£

£

COST

At 1 January 2024

11,520

26,231

80,209

117,960

Additions

-

-

20,994

20,994

Disposals

-

(24,462

)

(66,954

)

(91,416

)

At 31 December 2024

11,520

1,769

34,249

47,538

DEPRECIATION

At 1 January 2024

5,718

26,231

66,673

98,622

Charge for year

1,161

266

7,164

8,591

Eliminated on disposal

-

(25,401

)

(63,099

)

(88,500

)

At 31 December 2024

6,879

1,096

10,738

18,713

NET BOOK VALUE

At 31 December 2024

4,641

673

23,511

28,825

At 31 December 2023

5,802

-

13,536

19,338

5.

STOCKS

31.12.24

31.12.23

£

£

Work-in-progress

18,966

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade debtors

132,537

386,685

Amounts owed by group undertakings

850,000

750,000

Other debtors

19,003

7,579

Tax

37,847

84,851

Prepayments

17,254

18,895

1,056,641

1,248,010

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

961

8,557

Amounts owed to group undertakings

204,536

413,458

Social security and other taxes

5,017

-

Value added tax

1,796

27,873

Other creditors

6,107

20,020

Accruals and deferred income

771,328

800,751

Accruals

34,500

78,530

1,024,245

1,349,189

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

1,000

Ordinary

£1

1,000

1,000

3

B Ordinary

£1

3

3

494

C Ordinary

£1

494

494

1,497

1,497

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Sara Brown (Senior Statutory Auditor)

for and on behalf of Kings CAP Ltd

10.	FRC ETHICAL STANDARD - PROVISIONS AVAILABLE FOR SMALL ENTITIES

In common with many other businesses of our size and nature we use our auditors to prepare and submit returns to the tax authorities and assist with the preparation of the financial statements.

11.	ULTIMATE CONTROLLING PARTY

The company's immediate parent undertaking is K2 Medical Systems Holdings Limited a company incorporated in England & Wales.

The ultimate controlling party is Constellation Software Inc. The ultimate controlling party address is 66 Wellington Street West, Suite 5300, TD Bank Tower, Toronto, Ontaria, M5K 1E6. The company is registered in Canada.