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Registered number: 14588203
Genuine Finance Limited
Unaudited Financial Statements
For The Year Ended 5 April 2025
Contents
Page
Balance Sheet 1
Statement of Changes in Equity 2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 14588203
5 April 2025 5 April 2024
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,797 3,848
3,797 3,848
CURRENT ASSETS
Cash at bank and in hand 4,241 23,319
4,241 23,319
Creditors: Amounts Falling Due Within One Year 5 (310,132 ) (167,615 )
NET CURRENT ASSETS (LIABILITIES) (305,891 ) (144,296 )
TOTAL ASSETS LESS CURRENT LIABILITIES (302,094 ) (140,448 )
NET LIABILITIES (302,094 ) (140,448 )
CAPITAL AND RESERVES
Called up share capital 6 5,002 5,002
Profit and Loss Account (307,096 ) (145,450 )
SHAREHOLDERS' FUNDS (302,094) (140,448)
For the year ending 5 April 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
L A Laws
Director
22/12/2025
The notes on pages 3 to 4 form part of these financial statements.
Page 1
Page 2
Statement of Changes in Equity
Share Capital Profit and Loss Account Total
£ £ £
As at 12 January 2023 5,002 - 5,002
Loss for the period and total comprehensive income - (145,450 ) (145,450)
As at 5 April 2024 and 6 April 2024 5,002 (145,450 ) (140,448)
Loss for the year and total comprehensive income - (161,646 ) (161,646)
As at 5 April 2025 5,002 (307,096 ) (302,094)
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Genuine Finance Limited is a private company, limited by shares, incorporated in England & Wales, registered number 14588203 . The registered office is 123 Hallgate, Cottingham, HU16 4DA.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The company continues to have the financial support of it's directors and shareholders and so these accounts are prepared on a going concern basis.
2.3. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 25%/33% Reducing Balance
3. Average Number of Employees
Average number of employees, including directors, during the year was: 7 (2024: 4)
7 4
4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 6 April 2024 5,493
Additions 1,455
As at 5 April 2025 6,948
Depreciation
As at 6 April 2024 1,645
Provided during the period 1,506
As at 5 April 2025 3,151
Net Book Value
As at 5 April 2025 3,797
As at 6 April 2024 3,848
Page 3
Page 4
5. Creditors: Amounts Falling Due Within One Year
5 April 2025 5 April 2024
£ £
Trade creditors - 2,574
Other taxes and social security 8,097 2,121
Other creditors - Pension payable 1,070 -
Accruals and deferred income 708 835
Directors' loan accounts 300,257 162,085
310,132 167,615
6. Share Capital
5 April 2025 5 April 2024
£ £
Allotted, Called up and fully paid 5,002 5,002
Page 4