Genesis Agri Ltd iXBRL

Genesis Agri Ltd

Abridged Unaudited Financial Statements

for the financial year ended 31 December 2025

Genesis Agri Ltd

Company Registration Number: NI664103

ABRIDGED BALANCE SHEET

as at 31 December 2025

		2025	2024
	Notes	£	£

Fixed Assets

Tangible assets

60,199

87,856

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Current Assets

Stocks

450,750

373,300

Debtors

50,922

72,888

Cash at bank and in hand

416,889

29,563

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918,561

475,751

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Creditors: amounts falling due within one year

(889,433)

(458,591)

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Net Current Assets

29,128

17,160

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Total Assets less Current Liabilities

89,327

105,016

Creditors:

amounts falling due after more than one year

(19,511)

(35,439)

Provisions for liabilities

(7,143)

(11,458)

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Net Assets

62,673

58,119

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Capital and Reserves

Called up share capital

500

500

Retained earnings

62,173

57,619

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Shareholders' Funds

62,673

58,119

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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A (Small Entities).

All of the members have consented to the preparation of abridged accounts in accordance with section 444(2A) of the Companies Act 2006.

The company has taken advantage of the exemption under section 444 not to file the Abridged Profit and Loss Account and Directors' Report.

For the financial year ended 31 December 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.

The directors confirm that the members have not required the company to obtain an audit of its financial statements for the financial year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for ensuring that the company keeps accounting records which comply with section 386 and for preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of the financial year and of its profit and loss for the 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.

Approved by the Board and authorised for issue on 19 June 2026 and signed on its behalf by




________________________________
Stephen Lewis
Director

Genesis Agri Ltd

NOTES TO THE ABRIDGED FINANCIAL STATEMENTS

for the financial year ended 31 December 2025

General Information

Genesis Agri Ltd is a private company limited by shares incorporated and registered in Northern Ireland. The registered number of the company is NI664103. The registered office of the company is 3 Hammonds Road, Ballinderry Upper, Lisburn, Co. Down, BT28 2NG, Northern Ireland which is also the principal place of business of the company.

The financial statements have been presented in Pound Sterling (£) which is also the functional currency of the company.

The financial statements cover the individual entity Genesis Agri Ltd, for the financial year ended 31st December 2025.

Summary of Significant Accounting Policies

The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Statement of compliance

The financial statements of the company for the financial year ended 31 December 2025 have been prepared in accordance with the provisions of FRS 105 and the Companies Act 2006.

Basis of preparation

The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets.

Turnover

Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax.

Tangible assets and depreciation

Tangible assets are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of tangible assets, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery

25% Straight line

Fixtures, fittings and equipment

25% Straight line

Motor vehicles

25% Straight line

The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Leasing and hire purchases

Tangible assets held under leasing and Hire Purchases arrangements which transfer substantially all the risks and rewards of ownership to the company are capitalised and included in the Balance Sheet at their cost or valuation, less depreciation. The corresponding commitments are recorded as liabilities. Payments in respect of these obligations are treated as consisting of capital and interest elements, with interest charged to the Profit and Loss Account.

Stocks

Stocks are valued at the lower of cost and net realisable value. Stocks are determined on a first-in first-out basis. Cost comprises expenditure incurred in the normal course of business in bringing stocks to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Provisions

Provisions are recognised when the company has a present legal or constructive obligation arising as a result of a past event, it is probable that an outflow of economic benefits will be required to settle the obligation and a reliable estimate can be made. Provisions are measured at the present value of the expenditures expected to be required to settle the obligation using a pre-tax rate that reflects current market assessments of the same value of money and the risks specific to the obligation. The increase in the provision due to passage of time is recognised as interest expense.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Employee benefits

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund.

Taxation

Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the financial year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.

Foreign currencies

Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Balance Sheet date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Profit and Loss Account.

Ordinary share capital

The ordinary share capital of the company is presented as equity.


3.	Employees

	The average monthly number of employees, including directors, during the financial year was

		2025	2024
		Number	Number

	Directors	2	2
	Employee	1	1
		─────────	─────────
		3	3
		═════════	═════════


4.	Tangible assets
		Plant and	Fixtures,	Motor	Total
		machinery	fittings and	vehicles
			equipment
		£	£	£	£
	Cost
	At 1 January 2025	56,501	8,785	74,266	139,552
	Additions	774	6,900	-	7,674
		─────────	─────────	─────────	─────────
	At 31 December 2025	57,275	15,685	74,266	147,226
		─────────	─────────	─────────	─────────
	Depreciation
	At 1 January 2025	24,493	4,664	22,539	51,696
	Charge for the financial year	15,629	3,089	16,613	35,331
		─────────	─────────	─────────	─────────
	At 31 December 2025	40,122	7,753	39,152	87,027
		─────────	─────────	─────────	─────────
	Net book value
	At 31 December 2025	17,153	7,932	35,114	60,199
		═════════	═════════	═════════	═════════
	At 31 December 2024	32,008	4,121	51,727	87,856
		═════════	═════════	═════════	═════════

Financial commitments and guarantees

The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Pension contributions are charged to the profit and loss in the year that they occur. There is £245 owed to the fund at the 31st December 2025. This is included in Creditors: amounts falling due within one year.