REGISTERED NUMBER: 04365704 (England and Wales)

GENE HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs A A Adenuga

Mr A Adenuga

SECRETARY:

Mrs A A Adenuga

REGISTERED OFFICE:

The Stone House

Penkridge Bank Road

Slitting Mill

Rugeley

Staffordshire

WS15 2UE

REGISTERED NUMBER:

04365704 (England and Wales)

ACCOUNTANTS:

Spurling Cannon

Chartered Certified Accountants

424 Margate Road

Westwood

Ramsgate

Kent

CT12 6SJ

FIXED ASSETS

Tangible assets

4

582

686

Investment property

5

900,000

872,000

900,582

872,686

CURRENT ASSETS

Debtors

6

8,990

13,851

Cash at bank

65,796

42,830

74,786

56,681

CREDITORS

Amounts falling due within one year

7

331,951

367,765

NET CURRENT LIABILITIES

(257,165

)

(311,084

)

TOTAL ASSETS LESS CURRENT LIABILITIES

643,417

561,602

PROVISIONS FOR LIABILITIES

52,425

45,425

NET ASSETS

590,992

516,177

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

590,990

516,175

SHAREHOLDERS' FUNDS

590,992

516,177

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 11 August 2026 and were signed on its behalf by:

Mrs A A Adenuga - Director

Mr A Adenuga - Director

1.	STATUTORY INFORMATION

Gene Homes 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 as modified by the revaluation of certain assets.

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

-

25% on reducing balance

Fixture & Fittings

-

15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2025 - NIL).

4.	TANGIBLE FIXED ASSETS

Plant and

Fixture &

machinery

Fittings

Totals

£

£

£

COST

At 1 April 2025

and 31 March 2026

1,356

5,283

6,639

DEPRECIATION

At 1 April 2025

1,347

4,606

5,953

Charge for year

2

102

104

At 31 March 2026

1,349

4,708

6,057

NET BOOK VALUE

At 31 March 2026

7

575

582

At 31 March 2025

9

677

686

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2025

872,000

Revaluations

28,000

At 31 March 2026

900,000

NET BOOK VALUE

At 31 March 2026

900,000

At 31 March 2025

872,000

Fair value at 31 March 2026 is represented by:

£

Valuation in 2018

104,406

Valuation in 2019

(3,341

)

Valuation in 2020

47,000

Valuation in 2023

56,000

Valuation in 2024

18,000

Valuation in 2025

19,000

Valuation in 2026

28,000

Cost

630,935

900,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Other debtors

8,990

13,851

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

£

Taxation and social security

16,890

17,487

Other creditors

315,061

350,278

331,951

367,765

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The company made payments totalling £93,300 to Genesis Homes (Essex) Limited of which Mr & Mrs Adenuga are both Directors Mr & Mrs Adenuga each holds 1 ordinary share (together being 100% of the issued share capital). The payments were in respect of a rent for the properties managed by the company in the year.