Registration number: 14268726

Genesis Performing Arts Ltd

Contents

Statement of Financial Position	1 to 2
Notes to the Unaudited Financial Statements	3 to 9

Genesis Performing Arts Ltd

(Registration number: 14268726)
Statement of Financial Position
31 August 2025

	Note	2025 £	2024 £
Fixed assets
Intangible assets	4	2,800	4,200
Tangible assets	5	747	1,119
		3,547	5,319
Current assets
Stocks	6	15,000	2,000
Debtors	7	2,732	-
Cash at bank and in hand		4,893	7,245
		22,625	9,245
Creditors: Amounts falling due within one year	8	(18,670)	(13,751)
Net current assets/(liabilities)		3,955	(4,506)
Total assets less current liabilities		7,502	813
Provisions for liabilities		(142)	-
Net assets		7,360	813
Capital and reserves
Called up share capital		1	1
Retained earnings		7,359	812
Shareholders' funds		7,360	813

For the financial year ending 31 August 2025 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 accounts for the year in question in accordance with section 476; and
•	The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

Genesis Performing Arts Ltd

(Registration number: 14268726)
Statement of Financial Position
31 August 2025

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 6 January 2026
 

......................................... V L Hampson Director

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
158 Nevill Road
Hove
East Sussex
BN3 7QE

These financial statements were authorised for issue by the director on 6 January 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	over 5 years
Computer equipment	over 2 years

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	over 5 years

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

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.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year, was 3 (2024 - 3).

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

4	Intangible assets

	Goodwill  £	Total £
Cost or valuation
At 1 September 2024	7,000	7,000
At 31 August 2025	7,000	7,000
Amortisation
At 1 September 2024	2,800	2,800
Amortisation charge	1,400	1,400
At 31 August 2025	4,200	4,200
Carrying amount
At 31 August 2025	2,800	2,800
At 31 August 2024	4,200	4,200

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

5	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 September 2024	2,204	2,204
At 31 August 2025	2,204	2,204
Depreciation
At 1 September 2024	1,085	1,085
Charge for the year	372	372
At 31 August 2025	1,457	1,457
Carrying amount
At 31 August 2025	747	747
At 31 August 2024	1,119	1,119

6

Stocks

	2025 £	2024 £
Other inventories	15,000	2,000

Genesis Performing Arts Ltd

Notes to the Unaudited Financial Statements
for the year ended 31 August 2025

7

Debtors

Current	2025 £	2024 £
Trade debtors	2,732	-
	2,732	-

8

Creditors

Creditors: amounts falling due within one year

	2025 £	2024 £
Due within one year
Taxation and social security	13,299	9,551
Accruals and deferred income	175	154
Other creditors	5,196	4,046
	18,670	13,751