Genesis Solar Limited 31/12/2024 iXBRL

Company registration number: 11084692

Genesis Solar Limited

(formerly known as Genesis Clean Energy Ltd)

Unaudited filleted financial statements

Year ended

31 December 2024

Genesis Solar Limited

Contents

Directors and other information

Accountants report

Statement of financial position

Notes to the financial statements

Genesis Solar Limited

Directors and other information


	Director	Mr Charles Greenaway


	Company number	11084692


	Registered office	29 High Street
		Weston
		Northamptonshire
		NN12 8PU


	Accountants	Rogove & Company
		Chartered Accountants
		70 White Lion Street
		London
		N1 9PP

Genesis Solar Limited

Chartered accountants report to the board of directors on the preparation of the

unaudited statutory financial statements of Genesis Solar Limited

Year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Genesis Solar Limited (formerly known as Genesis Clean Energy Ltd) for the year ended 31 December 2024 which comprise the statement of financial position and related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at http://www.icaew.com /en/members/regulations-standards-and-guidance/.

This report is made solely to the board of directors, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Genesis Solar Limited and state those matters that we have agreed to state to them, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Genesis Solar Limited and its board of directors as a body for our work or for this report.

It is your duty to ensure that Genesis Solar Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Genesis Solar Limited. You consider that Genesis Solar Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Genesis Solar Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Rogove & Company

Chartered Accountants

70 White Lion Street

London

N1 9PP

30 September 2025

Genesis Solar Limited

Statement of financial position

31 December 2024

		2024		2023
	Note	£	£	£	£

Fixed assets
Tangible assets	5	570		1,639
		_______		_______
			570		1,639

Current assets
Stocks		1,149,416		2,028,830
Debtors	6	1,198,595		935,880
Cash at bank and in hand		670,137		1,835,136
		_______		_______
		3,018,148		4,799,846
Creditors: amounts falling due
within one year	7	( 1,011,516)		( 1,792,167)
		_______		_______
Net current assets			2,006,632		3,007,679
			_______		_______
Total assets less current liabilities			2,007,202		3,009,318

			_______		_______
Net assets			2,007,202		3,009,318
			_______		_______

Capital and reserves
Called up share capital			1		1
Profit and loss account			2,007,201		3,009,317
			_______		_______
Shareholders' funds			2,007,202		3,009,318
			_______		_______

For the year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

- The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 30 September 2025 , and are signed on behalf of the board by:

Mr Charles Greenaway

Director

Company registration number: 11084692

Genesis Solar Limited

Notes to the financial statements

Year ended 31 December 2024

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 High Street, Weston, Northamptonshire, NN12 8PU.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in the company’s functional currency of GBP.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company's activities. Turnover is shown net of value added tax, returns, rebates and discounts.Revenue from the sale of goods is recognised when goods are delivered and legal title has passed.

Taxation

Taxation represents the sum of tax currently payable.The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Foreign currencies

Transactions in currencies, other than the functional currency of the company, are recognised at the rate of exchange on the date the transaction occurred. Monetary items denominated in other currencies are translated at the rate prevailing at the end of the reporting period. All differences are taken to the profit and loss account. Non-monetary items that are measured at historic cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:


Plant and machinery	-	25 %	straight line
Fixtures & equipment	-	25 %	straight line

If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.

Impairment

At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss, if any. Where it is not possible to estimate the recoverable amount of the asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell (net realisable value). Cost includes all purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition. Net realisable value is based on the estimated selling price less any estimated completion or selling costs.When stocks are sold, the carrying amount of those stocks is recognised as an expense in the period in which the related revenue is recognised. The amount of any write-down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write-down or loss occurs. The amount of any reversal of any write-down of stocks is recognised as a reduction in the amount of stocks recognised as an expense in the period in which the reversal occurs.

Financial instruments

Loans are recognised at the transaction value.

Pension contributions

Contributions to defined contribution plans are recognised as an expense in the period in which they are payable by the company.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 3 (2023: 3 ).

5. Tangible assets

	Plant and machinery	Fixtures & equipment	Total
	£	£	£
Cost
At 1 January 2024 and 31 December 2024	8,244	5,112	13,356
	_______	_______	_______
Depreciation
At 1 January 2024	7,078	4,639	11,717
Charge for the year	596	473	1,069
	_______	_______	_______
At 31 December 2024	7,674	5,112	12,786
	_______	_______	_______
Carrying amount
At 31 December 2024	570	-	570
	_______	_______	_______
At 31 December 2023	1,166	473	1,639
	_______	_______	_______

6. Debtors

	2024	2023
	£	£
Trade debtors	885,099	735,880
Other debtors	313,496	200,000
	_______	_______
	1,198,595	935,880
	_______	_______

The debtors above include the following amounts falling due after more than one year:

	2024	2023
	£	£
Other debtors	157,187	-
	_______	_______

7. Creditors: amounts falling due within one year

	2024	2023
	£	£
Bank loans and overdrafts	39,859	-
Trade creditors	430,947	506,232
Corporation tax	102,505	393,042
Social security and other taxes	102,654	31,758
Other creditors	335,551	861,135
	_______	_______
	1,011,516	1,792,167
	_______	_______

8. Directors advances, credits and guarantees

	During the year the director entered into the following advances and credits with the company:

2024
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Charles Greenaway	100,000	7,922	( 107,981)	( 59)
		_______	_______	_______	_______

2023
		Balance brought forward	Advances /(credits) to the director	Amounts repaid	Balance o/standing
		£	£	£	£
	Mr Charles Greenaway	-	100,000	-	100,000
		_______	_______	_______	_______

The above stated short-term loan granted to the director in the previous year was repaid in full during the year. The loan was unsecured, interest free and was repayable on demand.

9. Related party transactions

During the year, the loan of £100,000 granted by company to Mrs Susan Greenaway in the previous year, was repaid in full. The short-term loan was unsecured, interest free and was repayable on demand.

10. Change of name

On 30 May 2025 the company changed its name from Genesis Clean Energy Ltd to Genesis Solar Limited.