Genetis Limited - Filleted accounts

Registered number

11725123

Genetis Limited

Filleted Accounts

For the year ended 31 December 2024

Genetis Limited
Registered number:		11725123
Balance Sheet
as at 31 December 2024

Notes			2024			2023
€				€
Current assets
Debtors	4	-			761
Cash at bank and in hand		3,927			719
		3,927			1,480

Creditors: amounts falling due within one year	5	(16,904)			(24,281)

Net current liabilities			(12,977)			(22,801)

Net liabilities			(12,977)			(22,801)

Capital and reserves
Called up share capital			110,000			67,583
Profit and loss account			(122,977)			(90,384)

Shareholders' funds			(12,977)			(22,801)

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Ye Tian
Director
Approved by the board on 23 September 2025

Genetis Limited
Notes to the Accounts
for the year ended 31 December 2024


1	Statutory information

	Genetis Limited is a private company limited by shares and incorporated in England and Wales. The company's registered number and registered office address are as below:

	Registered number :	11725123

	Registered office :	100 Liverpool Street
		London
		EC2M 2AT


2	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard) and the companies Act 2006. The presentation currency of the financial statements is the Euro (€).

	Going concern
	The directors do not consider there to be a cause for material uncertainty in respect of the company's ability to continue as a going concern. The company has sufficient shareholder support to continue for the foreseeable future. Therefore the financial statements have been prepared on the going concern basis.

	Turnover
	The company has no turnover during the year or in the preceding year.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	Current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (i.e. liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and in hand, short term deposits with financial institutions. Cash equivalents are defined as short term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period, foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.


3	Employees		2024		2023
Number				Number

	Average number of persons employed by the company (including directors)		3		3


4	Debtors		2024		2023
€				€

	Other debtors		-		761


5	Creditors: amounts falling due within one year		2024		2023
€				€

	Trade creditors		-		24,266
	Amounts owed to group undertakings		16,904		-
	Other creditors		-		15
			16,904		24,281


6	Related party transactions

	Included within creditors is an amount of €16,904 (2023: €nil) due to its parent company.


7	Controlling party

	The company's immediate parent company is TheraVectys S.A.