FINANCIAL STATEMENTS

FOR THE PERIOD

1 DECEMBER 2024 TO 28 FEBRUARY 2026

FOR

GENIUS VELO LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTORS:

E B Brown

J Hodkinson

REGISTERED OFFICE:

55 Loudoun Road

St John's Wood

London

NW8 0DL

REGISTERED NUMBER:

08789281 (England and Wales)

ACCOUNTANTS:

mgr Paris Limited

Chartered Accountants

55 Loudoun Road

St John's Wood

London

NW8 0DL

FIXED ASSETS

Intangible assets

4

-

1

CURRENT ASSETS

Debtors

5

-

1,731

Cash at bank

20,013

57,699

20,013

59,430

CREDITORS

Amounts falling due within one year

6

(2,879

)

(36,332

)

NET CURRENT ASSETS

17,134

23,098

TOTAL ASSETS LESS CURRENT LIABILITIES

17,134

23,099

CAPITAL AND RESERVES

Called up share capital

7

1,035

1,035

Share premium account

8

1,673,566

1,673,566

Retained earnings

8

(1,657,467

)

(1,651,502

)

SHAREHOLDERS' FUNDS

17,134

23,099

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 28 February 2026.

The members have not required the company to obtain an audit of its financial statements for the period ended 28 February 2026 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 2 July 2026 and were signed on its behalf by:

E B Brown - Director

1.	STATUTORY INFORMATION

Genius Velo 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

The monetary amounts are rounded to the nearest pound.

Amortisation of intangible fixed assets

Patents are carried at cost less accumulated amortisation and impairment losses.

Amortisation is calculated using the straight-line method to allocate the costs of the assets over their estimated useful lives of twenty years.

Basic financial assets

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction price including transaction and where material are subsequently measured at amortise cost using the effective interest method, less any impairment

Impairment of financial assets

Financial assets, other than those held at fair value are assessed for indicators or impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occured after the initial recognition of the financial asset, the estimated future cash flows have been affected. The impairment loss is recognised in the Statement of Total Comprehensive Income.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire, or when it transfer the financial asset and substantially all the risks and rewards of ownership to another entity.

Basic financial liabilities

Basic financial liabilities, including trade and other payables and loans from company undertakings that are classified as debt are initially measured at transaction price unless the arrangement constitute a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at the market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired int he ordinary course of business from suppliers. Accounts payables are classified as current liabilities if a payment is due within one year or less. If not, they are present as non current liabilities. Short term creditors are initially recognised at transaction price and where material are subsequently measured at amortised cost using the effective interest method.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Cash and cash equivalent

Cash and cash equivalent include cash in hand, deposits held at call with banks, other short term liquid investments with original maturities of three months or less.

Debtors and creditors receivable / payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was NIL (2024 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Website

costs

£

COST

At 1 December 2024

and 28 February 2026

45,388

AMORTISATION

At 1 December 2024

45,387

Amortisation for period

1

At 28 February 2026

45,388

NET BOOK VALUE

At 28 February 2026

-

At 30 November 2024

1

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

30.11.24

£

£

Other debtors

-

1,731

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.26

30.11.24

£

£

Trade creditors

(1

)

4,444

Other creditors

2,880

31,888

2,879

36,332

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.26

30.11.24

value:

£

£

103,467

Ordinary

0.01

1,035

1,035

8.

RESERVES

Share

Retained

premium

earnings

account

Totals

£

£

£

At 1 December 2024

(1,651,502

)

1,673,566

22,064

Deficit for the period

(5,965

)

(5,965

)

At 28 February 2026

(1,657,467

)

1,673,566

16,099