Genesis Development Solutions Limited - Limited company - abbreviated - 11.0.0

GENESIS DEVELOPMENT SOLUTIONS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2014

Page

Company Information

1

Chartered Accountants' Report

2

Abbreviated Balance Sheet

3

Notes to the Abbreviated Accounts

4

DIRECTOR:

R J Jones

SECRETARY:

Mrs L A Jones

REGISTERED OFFICE:

3/5 College Street

Burnham on Sea

Somerset

TA8 1AR

REGISTERED NUMBER:

06260877 (England and Wales)

ACCOUNTANTS:

T P Lewis & Partners

Chartered Accountants

3/5 College Street

Burnham on Sea

Somerset

TA8 1AR

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages three to four)

have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Genesis Development Solutions Limited for the year ended 31 March 2014 which comprise the

Profit and Loss Account, the Balance Sheet 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 at icaew.com/membershandbook.

This report is made solely to the director of Genesis Development Solutions Limited in accordance with our terms of

engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Genesis

Development Solutions Limited and state those matters that we have agreed to state to the director of Genesis

Development Solutions Limited in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the

fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its

director for our work or for this report.

It is your duty to ensure that Genesis Development Solutions Limited 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 Genesis Development Solutions Limited. You consider that Genesis Development Solutions Limited is exempt from

the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Genesis Development

Solutions Limited. 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.

T P Lewis & Partners

Chartered Accountants

3/5 College Street

Burnham on Sea

Somerset

TA8 1AR

20 October 2014

FIXED ASSETS

Tangible assets

2

553

-

CURRENT ASSETS

Stocks

150

-

Debtors

7,576

4,938

Cash at bank

13,183

5,705

20,909

10,643

CREDITORS

Amounts falling due within one year

20,592

6,207

NET CURRENT ASSETS

317

4,436

TOTAL ASSETS LESS CURRENT LIABILITIES

870

4,436

CAPITAL AND RESERVES

Called up share capital

3

100

100

Profit and loss account

770

4,336

SHAREHOLDERS' FUNDS

870

4,436

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the director on 19 October 2014 and were signed by:

R J Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective April 2008).

Turnover

Turnover represents gross invoices net of flat rate VAT raised for site management services.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks

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

Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads.

Cost is calculated on a first in, first out basis.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

Additions

553

At 31 March 2014

553

NET BOOK VALUE

At 31 March 2014

553

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

4.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2014 and

31 March 2013:

2014

2013

£

£

R J Jones

Balance outstanding at start of year

(3,402

)

(3,326

)

Amounts advanced

17,146

9,924

Amounts repaid

(25,700

)

(10,000

)

Balance outstanding at end of year

(11,956

)

(3,402

)