Genesis One Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10486420 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 November 2018

for

Genesis One Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

W R Jackson

A S Hughes

SECRETARY:

REGISTERED OFFICE:

4a Front Street

Sedgefield

Stockton on Tees

Cleveland

TS21 3AT

REGISTERED NUMBER:

10486420 (England and Wales)

FIXED ASSETS

Tangible assets

4

7,515

5,450

CURRENT ASSETS

Stocks

820,000

-

Debtors

5

1,583

-

Cash at bank and in hand

968

1,094

822,551

1,094

CREDITORS

Amounts falling due within one year

6

825,166

7,135

NET CURRENT LIABILITIES

(2,615

)

(6,041

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,900

(591

)

CAPITAL AND RESERVES

Called up share capital

300

100

Retained earnings

4,600

(691

)

SHAREHOLDERS' FUNDS

4,900

(591

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 30 August 2019 and were signed on its behalf by:

W R Jackson - Director

1.	STATUTORY INFORMATION

Genesis One 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.

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 etc

-

20% on cost and 15% on cost

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing

stocks to their present location and condition.

Taxation

Taxation for the year 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 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2017 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 December 2017

6,000

Additions

3,245

At 30 November 2018

9,245

DEPRECIATION

At 1 December 2017

550

Charge for year

1,180

At 30 November 2018

1,730

NET BOOK VALUE

At 30 November 2018

7,515

At 30 November 2017

5,450

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Other debtors

1,583

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.18

30.11.17

£

£

Trade creditors

170,822

2,174

Taxation and social security

262

-

Other creditors

654,082

4,961

825,166

7,135