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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2018 |
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GENIUS BOARDS LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2018 |
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FOR |
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GENIUS BOARDS LIMITED |
GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
For The Year Ended 31st May 2018 |
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Company Information | 1 |
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Chartered Accountants' Report | 2 |
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Balance Sheet | 3 |
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Notes to the Financial Statements | 5 |
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GENIUS BOARDS LIMITED |
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COMPANY INFORMATION |
For The Year Ended 31st May 2018 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR |
ON THE UNAUDITED FINANCIAL STATEMENTS OF |
GENIUS BOARDS LIMITED |
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The following reproduces the text of the report prepared for the director in respect of the company's annual |
unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file |
a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the |
Report of the Director are not required to be filed with the Registrar of Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the |
financial statements of Genius Boards Limited for the year ended 31st May 2018 which comprise the Income Statement, |
Other Comprehensive Income, Balance Sheet and the related notes from the company's accounting records and from |
information and explanations you have given us. |
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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. |
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This report is made solely to the director of Genius Boards Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Genius Boards Limited and state those matters that we have agreed to state to the director of Genius Boards Limited 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 Genius Boards Limited and its director for our work or for this report. |
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It is your duty to ensure that Genius Boards 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 loss of Genius Boards Limited. You consider that Genius Boards Limited is exempt from the statutory audit requirement for the year. |
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We have not been instructed to carry out an audit or a review of the financial statements of Genius Boards 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. |
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Bank House |
81 St Judes Road |
Englefield Green |
Surrey |
TW20 0DF |
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GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900) |
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BALANCE SHEET |
31st May 2018 |
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2018 | 2017 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
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Property, plant and equipment | 5 |
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CURRENT ASSETS |
Debtors | 6 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
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NET LIABILITIES | ( |
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CAPITAL AND RESERVES |
Called up share capital | 9 |
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Retained earnings | 10 | ( |
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SHAREHOLDERS' FUNDS | ( |
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The director acknowledges her responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
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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. |
GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900) |
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BALANCE SHEET - continued |
31st May 2018 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900) |
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NOTES TO THE FINANCIAL STATEMENTS |
For The Year Ended 31st May 2018 |
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1. | STATUTORY INFORMATION |
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Genius Boards Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents the value of services provided under contracts to the extent that there is a right to |
consideration and is recorded at the value of the consideration due. Where a contract has only been partially |
completed at the balance sheet date turnover represents the value of the service provided to date based on a |
proportion of the total expected consideration at completion. |
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Where payments are received from customers in advance of services provided, the amounts are recorded as |
Deferred Income and included as part of Creditors due within one year. |
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Goodwill |
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and |
amortised over its estimated useful life up to a maximum of 20 years. This length of time is presumed to be the |
maximum useful life of purchased goodwill because it is difficult to make projections beyond this period. |
Goodwill is reviewed for impairment at the end of the first full financial year following each acquisition and |
subsequently as and when necessary if circumstances emerge that indicate that the carrying value may not be |
recoverable. |
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Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost |
less any accumulated amortisation and any accumulated impairment losses. |
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Tangible fixed assets |
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Fixtures and fittings | - |
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Computer equipment | - |
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Fixed assets are stated at their cost prices, less accumulated depreciation and less amounts recognised in respect |
of impairment. |
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Research and development |
Expenditure on software design and development is charged to the profit and loss account in the year in which it |
is incurred. |
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Going concern |
The Directors has formed a judgement at the time of approving the Annual Financial Statements that, there is |
reasonable expectation that the company has adequate resources to continue in operational existence for the |
foreseeable future. For this reason the directors have adopted the going concern basis in preparing the accounts. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st May 2018 |
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4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1st June 2017 |
and 31st May 2018 |
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NET BOOK VALUE |
At 31st May 2018 |
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At 31st May 2017 |
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5. | PROPERTY, PLANT AND EQUIPMENT |
Fixtures |
and | Computer |
fittings | equipment | Totals |
£ | £ | £ |
COST |
At 1st June 2017 |
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Additions |
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At 31st May 2018 |
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DEPRECIATION |
At 1st June 2017 |
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Charge for year |
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At 31st May 2018 |
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NET BOOK VALUE |
At 31st May 2018 |
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At 31st May 2017 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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SACC Expense | 476 | - |
VAT |
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GENIUS BOARDS LIMITED (REGISTERED NUMBER: 04764900) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
For The Year Ended 31st May 2018 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2018 | 2017 |
£ | £ |
Bank loans and overdrafts |
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Trade creditors |
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Amounts owed to group undertakings |
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Accruals and deferred income |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
2018 | 2017 |
£ | £ |
Amounts owed to group undertakings |
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Other creditors |
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Directors' loan accounts | 181,315 | 370,552 |
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9. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2018 | 2017 |
value: | £ | £ |
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Ordinary shares of £1 each | £1 | 1 | 1 |
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10. | RESERVES |
Retained |
earnings |
£ |
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At 1st June 2017 | ( |
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Deficit for the year | ( |
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At 31st May 2018 | ( |
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11. | RELATED PARTY DISCLOSURES |
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At the year end, the Company owes £181,315 (2017: 367,187) to Ms. Sharon Constancon, the director. |