GENESIS GLOBAL TECHNOLOGY LIMITED - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09498568

Unaudited Financial Statements

for the Period 1 December 2017 to 31 December 2018

for

GENESIS GLOBAL TECHNOLOGY LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S R Murphy

J Harrison

M Beeston

N Ogurtsov

SECRETARY:

K Baqa

REGISTERED OFFICE:

Craftworks Studio

1 - 3 Dufferin Street

London

EC1Y 8NA

REGISTERED NUMBER:

09498568

ACCOUNTANTS:

Golder Baqa Limited

Ground Floor

1 Baker's Row

London

EC1R 3DB

FIXED ASSETS

Tangible assets

4

16,612

3,884

Investments

5

3,520

3,520

20,132

7,404

CURRENT ASSETS

Debtors

6

823,327

147,307

Prepayments and accrued income

-

15,800

Cash at bank

1,966,606

90,666

2,789,933

253,773

CREDITORS

Amounts falling due within one year

7

254,397

246,004

NET CURRENT ASSETS

2,535,536

7,769

TOTAL ASSETS LESS CURRENT LIABILITIES

2,555,668

15,173

ACCRUALS AND DEFERRED INCOME

199,961

4,500

NET ASSETS

2,355,707

10,673

CAPITAL AND RESERVES

Called up share capital

95

73

Share premium

2,323,396

-

Retained earnings

32,216

10,600

2,355,707

10,673

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 26 July 2019 and were signed on its behalf by:

J Harrison - Director

1.	STATUTORY INFORMATION

GENESIS GLOBAL TECHNOLOGY LIMITED is a private company, limited by shares , registered in Not specified/Other.

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.

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.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Income Statement, 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 period 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme

are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 21 (2017 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2017

5,179

Additions

18,267

At 31 December 2018

23,446

DEPRECIATION

At 1 December 2017

1,295

Charge for period

5,539

At 31 December 2018

6,834

NET BOOK VALUE

At 31 December 2018

16,612

At 30 November 2017

3,884

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 December 2017

and 31 December 2018

3,520

NET BOOK VALUE

At 31 December 2018

3,520

At 30 November 2017

3,520

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

30.11.17

£

£

Trade debtors

306,703

109,800

Other debtors

516,624

37,507

823,327

147,307

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

30.11.17

£

£

Trade creditors

13,033

-

Taxation and social security

82,949

53,096

Other creditors

158,415

192,908

254,397

246,004

8.	RELATED PARTY DISCLOSURES

Genesis Global Fintech LLC is a wholly owned overseas subsidiary of the company and at the year end there is an amount

receivable of £496,624.02 in respect of loans advanced from the above overseas subsidiary,

The amount receivable in interest free and is repayable on demand.

The company does not prepare consolidated accounts as the group is small and has taken advantage of the companies act

exemptions.