The Genome Store Ltd - Limited company accounts 20.1

REGISTERED NUMBER: 12337734 (England and Wales)

for

Page

Company Information  

1

Report of the Directors  

2

Chartered Accountants' Report  

3

Income Statement  

4

Other Comprehensive Income  

5

Balance Sheet  

6

Statement of Changes in Equity  

7

Notes to the Financial Statements

8

DIRECTORS:

P J Mccormick

N M J Edwards

REGISTERED OFFICE:

The Maltings

East Tyndall Street

Cardiff

CF24 5EA

REGISTERED NUMBER:

12337734 (England and Wales)

ACCOUNTANTS:

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

The directors present their report with the financial statements of the company for the period 1 December 2020 to 31 December 2021.  

PRINCIPAL ACTIVITY

DIRECTORS

P J Mccormick has held office during the whole of the period from 1 December 2020 to the date of this report.

Other changes in directors holding office are as follows:

D G L Davies - appointed 8 November 2021

M E Kennedy - resigned 8 September 2021

N M J Edwards was appointed as a director after 31 December 2021 but prior to the date of this report.

D G L Davies ceased to be a director after 31 December 2021 but prior to the date of this report.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

N M J Edwards - Director

16 August 2022

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Genome Store Ltd for the period ended 31 December 2021 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.  

This report is made solely to the Board of Directors of The Genome Store Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Genome Store Ltd and state those matters that we have agreed to state to the Board of Directors of The Genome Store Ltd, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Genome Store Ltd and its Board of Directors, as a body, for our work or for this report.      

It is your duty to ensure that The Genome Store Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of The Genome Store Ltd. You consider that The Genome Store Ltd is exempt from the statutory audit requirement for the period.  

We have not been instructed to carry out an audit or a review of the financial statements of The Genome Store Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.  

Stewarts Accountants Limited

271 High Street

Berkhamsted

Hertfordshire

HP4 1AA

16 August 2022

TURNOVER

-

1,356

Cost of sales

-

309

GROSS PROFIT

-

1,047

Administrative expenses

-

4,488

-

(3,441

)

Other operating income

21,241

-

OPERATING PROFIT/(LOSS) and

PROFIT/(LOSS) BEFORE TAXATION

4

21,241

(3,441

)

Tax on profit/(loss)

5

-

-

PROFIT/(LOSS) FOR THE FINANCIAL

PERIOD

21,241

(3,441

)

PROFIT/(LOSS) FOR THE PERIOD

21,241

(3,441

)

Other comprehensive income

-

-

TOTAL COMPREHENSIVE INCOME

FOR THE PERIOD

21,241

(3,441

)

FIXED ASSETS

Tangible assets

7

-

17,305

CURRENT ASSETS

Debtors

8

100

446

Cash at bank

-

3

100

449

CREDITORS

Amounts falling due within one year

9

-

21,095

NET CURRENT ASSETS/(LIABILITIES)

100

(20,646

)

TOTAL ASSETS LESS CURRENT

LIABILITIES

100

(3,341

)

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

11

-

(3,441

)

SHAREHOLDERS' FUNDS

100

(3,341

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 31 December 2021.  

The members have not required the company to obtain an audit of its financial statements for the period ended 31 December 2021 in accordance with Section 476 of the Companies Act 2006.  

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.  

The financial statements were approved by the Board of Directors and authorised for issue on 16 August 2022 and were signed on its behalf by:

N M J Edwards - Director

Called up

share

Retained

Total

capital

earnings

equity

£   

£   

£   

Changes in equity

Issue of share capital

100

-

100

Total comprehensive income

-

(3,441

)

(3,441

)

Balance at 30 November 2020

100

(3,441

)

(3,341

)

Changes in equity

Dividends

-

(17,800

)

(17,800

)

Total comprehensive income

-

21,241

21,241

Balance at 31 December 2021

100

-

100

1.

STATUTORY INFORMATION

The Genome Store Ltd 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 preparation

These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.  

The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

•

the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;

•

the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii),

B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;

•

the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued

Operations;

•

the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;

•

the requirements of IFRS 7 Financial Instruments: Disclosures;

•

the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;

•

the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of

IFRS 16 Leases;

the requirements of paragraph 58 of IFRS 16;

•

the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to

(c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;

•

the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative

information in respect of:

-

paragraph 79(a)(iv) of IAS 1;

-

paragraph 73(e) of IAS 16 Property, Plant and Equipment;

-

paragraph 118(e) of IAS 38 Intangible Assets;

-

paragraphs 76 and 79(d) of IAS 40 Investment Property; and

-

paragraph 50 of IAS 41 Agriculture;

•

the requirements of paragraphs 10(d), 10)(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D and 111 of IAS

1 Presentation of Financial Statements;

•

the requirements of paragraphs 134 to 136 of IAS 1 Presentation of Financial Statements;

•

the requirements of IAS 7 Statement of Cash Flows;

•

the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates

and Errors;

•

the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

•

the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into

between two or more members of a group;

•

the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.

Turnover

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

-

at varying rates on cost

Taxation

3.

EMPLOYEES AND DIRECTORS

There were no staff costs for the period ended 31 December 2021 nor for the period ended 30 November 2020.

The average number of employees during the period was NIL (2020 - NIL).

Period

Period

1.12.20

28.11.19

to

to

31.12.21

30.11.20

£   

£   

Directors' remuneration

-

-

4.

PROFIT/(LOSS) BEFORE TAXATION

The profit before taxation (2020 - loss before taxation) is stated after charging:

Period

Period

1.12.20

28.11.19

to

to

31.12.21

30.11.20

£   

£   

Cost of inventories recognised as expense

-

309

5.

TAXATION

Analysis of tax expense

No liability to UK corporation tax arose for the period ended 31 December 2021 nor for the period ended 30 November 2020.

6.

DIVIDENDS

Period

Period

1.12.20

28.11.19

to

to

31.12.21

30.11.20

£   

£   

Ordinary shares of 1 each

Interim

17,800

-

7.

TANGIBLE FIXED ASSETS

Plant and

machinery

£   

COST

At 1 December 2020

17,305

Disposals

(17,305

)

At 31 December 2021

-

NET BOOK VALUE

At 31 December 2021

-

At 30 November 2020

17,305

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.11.20

£   

£   

Other debtors

100

446

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.21

30.11.20

£   

£   

Directors' current accounts

-

20,700

Accruals and deferred income

-

395

-

21,095

10.

CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.21

30.11.20

value:

£   

£   

100

Ordinary

1

100

100

11.

RESERVES

Retained

earnings

£   

At 1 December 2020

(3,441

)

Profit for the period

21,241

Dividends

(17,800

)

At 31 December 2021

-