0 01/04/2024 31/03/2025 2025-03-31 false false false false false false false true false false true false false false false true true false No description of principal activities is disclosed 2024-04-01 Sage Accounts Production 23.0 - FRS102_2023 xbrli:pure xbrli:shares iso4217:GBP 04698405 2024-04-01 2025-03-31 04698405 2025-03-31 04698405 2024-03-31 04698405 2023-04-01 2024-03-31 04698405 2024-03-31 04698405 2023-03-31 04698405 core:PlantMachinery 2024-04-01 2025-03-31 04698405 core:MotorVehicles 2024-04-01 2025-03-31 04698405 bus:Director1 2024-04-01 2025-03-31 04698405 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 04698405 core:FurnitureFittingsToolsEquipment 2024-03-31 04698405 core:MotorVehicles 2024-03-31 04698405 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 04698405 core:FurnitureFittingsToolsEquipment 2025-03-31 04698405 core:MotorVehicles 2025-03-31 04698405 core:WithinOneYear 2025-03-31 04698405 core:WithinOneYear 2024-03-31 04698405 core:AfterOneYear 2025-03-31 04698405 core:AfterOneYear 2024-03-31 04698405 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 04698405 core:FurnitureFittingsToolsEquipment 2024-04-01 2025-03-31 04698405 core:ShareCapital 2025-03-31 04698405 core:ShareCapital 2024-03-31 04698405 core:RetainedEarningsAccumulatedLosses 2025-03-31 04698405 core:RetainedEarningsAccumulatedLosses 2024-03-31 04698405 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 04698405 core:FurnitureFittingsToolsEquipment 2024-03-31 04698405 core:MotorVehicles 2024-03-31 04698405 bus:SmallEntities 2024-04-01 2025-03-31 04698405 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 04698405 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 04698405 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 04698405 bus:FullAccounts 2024-04-01 2025-03-31
Company registration number: 04698405
Genesis Home Appliances Limited
Unaudited filleted financial accounts
For the year ended
31 March 2025
Genesis Home Appliances Limited
Contents
Statement of financial position
Notes to the financial accounts
Genesis Home Appliances Limited
Statement of financial position
31 March 2025
2025 2024
Note £ £ £ £
Fixed assets
Tangible assets 3 340,894 428,337
________ ________
340,894 428,337
Current assets
Stocks 157,422 155,674
Debtors 4 49,125 24,878
Cash at bank and in hand 20,835 -
________ ________
227,382 180,552
Creditors: amounts falling due
within one year 5 ( 511,947) ( 565,066)
________ ________
Net current liabilities ( 284,565) ( 384,514)
________ ________
Total assets less current liabilities 56,329 43,823
Creditors: amounts falling due
after more than one year 6 ( 80,542) ( 69,025)
________ ________
Net liabilities ( 24,213) ( 25,202)
________ ________
Capital and reserves
Called up share capital 203 203
Profit and loss account ( 24,416) ( 25,405)
________ ________
Shareholders deficit ( 24,213) ( 25,202)
________ ________
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial accounts for the year in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial accounts.
These financial accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
These financial accounts were approved by the board of directors and authorised for issue on 17 July 2025 , and are signed on behalf of the board by:
Mr J T Riley
Director
Company registration number: 04698405
Genesis Home Appliances Limited
Notes to the financial accounts
Year ended 31 March 2025
1. Accounting policies
Statutory information
These financial accounts have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied with the same financial statements.
Genesis Home Appliances Limited is a private company, limited by shares, domiciled in England and Wales, registration number 04698405 . The registered office is Clay Flatts Trading Estate, Workington, CA14 2TG.
Basis of preparation
The financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A small entities. There were no material departures from that standard.The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same financial statements.
Turnover
Turnover consists of the sales value, excluding VAT, of all work done in the period under contracts to supply goods and services to third parties. It includes the relevant proportion of contract values where work is partially performed in the period.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Property, plant and equipment
Assets are included at cost less depreciation and impairment.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold property - straight line over 50 years
Plant and machinery - 25 % straight line
Motor vehicles - 25 % straight line
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stock is measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the inventories to their present location and condition.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for fixed asset investments which are measured at fair value, with changes recognised in the fair value reserve.
Basic financial instruments are recognised at amortised cost.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in comprehensive income when due.
2. Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2024: 10 ).
3. Tangible assets
Freehold property Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 April 2024 560,419 81,902 34,628 676,949
Additions - 3,998 - 3,998
Disposals ( 119,703) - - ( 119,703)
________ ________ ________ ________
At 31 March 2025 440,716 85,900 34,628 561,244
________ ________ ________ ________
Depreciation
At 1 April 2024 96,048 80,942 33,203 210,193
Charge for the year 8,817 865 475 10,157
________ ________ ________ ________
At 31 March 2025 104,865 81,807 33,678 220,350
________ ________ ________ ________
Carrying amount
At 31 March 2025 335,851 4,093 950 340,894
________ ________ ________ ________
At 31 March 2024 464,371 960 1,425 466,756
________ ________ ________ ________
4. Debtors
2025 2024
£ £
Trade debtors 17,321 15,892
Other debtors 31,804 8,986
________ ________
49,125 24,878
________ ________
5. Creditors: amounts falling due within one year
2025 2024
£ £
Bank loans and overdrafts 26,773 65,718
Trade creditors 254,157 277,230
Taxation and social security 16,648 17,854
Directors loan account 208,530 199,204
Other creditors 5,839 5,060
________ ________
511,947 565,066
________ ________
6. Creditors: amounts falling due after more than one year
2025 2024
£ £
Other creditors 80,542 69,025
________ ________