REGISTERED NUMBER: 01538251 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2025

FOR

GENWORK LIMITED

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

4

DIRECTORS:

Mr R G Bache

Mr O R Bache

SECRETARY:

Mr R G Bache

REGISTERED OFFICE:

E R Grove & Co

Grove House

Steel Park Road, Coombs Wood Court

HALESOWEN

West Midlands

B62 8BF

REGISTERED NUMBER:

01538251 (England and Wales)

ACCOUNTANTS:

E R Grove & Co Limited

Chartered Accountants

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Genwork Limited for the year ended 31st March 2025 which comprise the Income Statement, Balance Sheet and the 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

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

It is your duty to ensure that Genwork 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 Genwork Limited. You consider that Genwork 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 Genwork 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.

E R Grove & Co Limited

Chartered Accountants

Grove House

Coombs Wood Court

Steel Park Road

Halesowen

West Midlands

B62 8BF

30th September 2025

FIXED ASSETS

Tangible assets

4

112,053

91,123

CURRENT ASSETS

Stocks

235,422

260,742

Debtors

5

223,487

197,461

Cash at bank and in hand

27,369

6,701

486,278

464,904

CREDITORS

Amounts falling due within one year

6

351,105

313,267

NET CURRENT ASSETS

135,173

151,637

TOTAL ASSETS LESS CURRENT LIABILITIES

247,226

242,760

CREDITORS

Amounts falling due after more than one year

7

(2,700

)

(13,125

)

PROVISIONS FOR LIABILITIES

(28,013

)

(22,781

)

NET ASSETS

216,513

206,854

CAPITAL AND RESERVES

Called up share capital

900

900

Retained earnings

215,613

205,954

SHAREHOLDERS' FUNDS

216,513

206,854

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 30th September 2025 and were signed on its behalf by:

Mr O R Bache - Director

1.	STATUTORY INFORMATION

Genwork 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.

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.

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.

Plant and machinery

-

at varying rates on cost

Fixtures and fittings

-

at varying rates on cost

Motor vehicles

-

12.5% on cost

Computer equipment

-

20% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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 5 (2024 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1st April 2024

134,878

1,160

32,419

18,367

186,824

Additions

32,725

487

-

-

33,212

At 31st March 2025

167,603

1,647

32,419

18,367

220,036

DEPRECIATION

At 1st April 2024

61,269

1,160

15,964

17,308

95,701

Charge for year

9,833

58

2,057

334

12,282

At 31st March 2025

71,102

1,218

18,021

17,642

107,983

NET BOOK VALUE

At 31st March 2025

96,501

429

14,398

725

112,053

At 31st March 2024

73,609

-

16,455

1,059

91,123

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

223,224

194,315

Other debtors

263

3,146

223,487

197,461

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,633

10,209

Trade creditors

98,386

74,954

Taxation and social security

37,099

36,290

Other creditors

204,987

191,814

351,105

313,267

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans

2,700

13,125

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

46,614

36,000

Between one and five years

16,806

-

63,420

36,000

9.	RELATED PARTY DISCLOSURES

During the year goods to the value of £49,700 (2024: £48,000) were purchased from, and services to the value of £365,658 (2024: £447,714) were sold to Bache Pallets Ltd. These transactions were at normal price and on normal business terms.

At the year end £65,620 (2024: £79,589) is owing to Bache Pallets in regards to monies loaned.

During the year Bache Pallets Ltd charged the company £63,300 for rent and utilities of the trading premises.