Registered number
13063367
Genuss Limited
Filleted Accounts
31 December 2024
Genuss Limited
Registered number: 13063367
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 198,346 13,373
Current assets
Debtors 4 52,816 153,740
Cash at bank and in hand 69,460 122,728
122,276 276,468
Creditors: amounts falling due within one year 5 (715,411) (410,831)
Net current liabilities (593,135) (134,363)
Total assets less current liabilities (394,789) (120,990)
Creditors: amounts falling due after more than one year 6 (21,669) -
Provisions for liabilities (37,686) -
Net liabilities (454,144) (120,990)
Capital and reserves
Called up share capital 100 100
Profit and loss account (454,244) (121,090)
Shareholders' funds (454,144) (120,990)
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.
J S Dhaliwal
Director
Approved by the board on 26 September 2025
Genuss Limited
Notes to the Accounts
for the year ended 31 December 2024
1 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).
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
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Motor vehicles 20% reducing balance
Fixtures, fittings, tools and equipment 20% reducing balance
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
A 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 (ie 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.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 3 3
3 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 January 2024 - 17,000 - 17,000
Additions 155,130 2,738 33,500 191,368
At 31 December 2024 155,130 19,738 33,500 208,368
Depreciation
At 1 January 2024 - 3,627 - 3,627
Charge for the year - 2,720 3,675 6,395
At 31 December 2024 - 6,347 3,675 10,022
Net book value
At 31 December 2024 155,130 13,391 29,825 198,346
At 31 December 2023 - 13,373 - 13,373
4 Debtors 2024 2023
£ £
Trade debtors 867 710
Deferred tax asset - 29,374
Other debtors 51,949 123,656
52,816 153,740
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 161,248 151,872
Taxation and social security costs 33,500 26,058
Other creditors 520,663 232,901
715,411 410,831
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 21,669 -
7 LEASING AGREEMENTS 2024 2023
£ £
Minimum lease payments under non-cancellable operating leases fall due as follows:
In more than five years 83,915 83,915
8 Other information
Genuss Limited is a private company limited by shares and incorporated in England. Its registered office is:
Office 1, Izabella House
24-26 Regent Place
Birmingham
B1 3NJ
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