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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2017 |
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GENIUS UPHOLSTERY SERVICES LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST AUGUST 2017 |
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FOR |
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GENIUS UPHOLSTERY SERVICES LIMITED |
GENIUS UPHOLSTERY SERVICES LIMITED (REGISTERED NUMBER: 07354701) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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GENIUS UPHOLSTERY SERVICES LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
11 Stratford Road |
Shirley |
Solihull |
West Midlands |
B90 3LU |
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BANKERS: |
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Direct Business Banking |
PO Box 4115 |
Hornchurch |
Essex |
RM12 4DF |
GENIUS UPHOLSTERY SERVICES LIMITED (REGISTERED NUMBER: 07354701) |
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BALANCE SHEET |
31ST AUGUST 2017 |
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2017 | 2016 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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NET CURRENT (LIABILITIES)/ASSETS | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
( |
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PROVISIONS FOR LIABILITIES | 7 |
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NET (LIABILITIES)/ASSETS | ( |
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CAPITAL AND RESERVES |
Called up share capital | 8 |
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Retained earnings | 9 | ( |
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SHAREHOLDERS' FUNDS | ( |
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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
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(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. |
GENIUS UPHOLSTERY SERVICES LIMITED (REGISTERED NUMBER: 07354701) |
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BALANCE SHEET - continued |
31ST AUGUST 2017 |
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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 Board of Directors on
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GENIUS UPHOLSTERY SERVICES LIMITED (REGISTERED NUMBER: 07354701) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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1. | STATUTORY INFORMATION |
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Genius Upholstery 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. The company's principal |
place of business is 136 Primrose Hill, Kings Norton, Birmingham, B38 9BU. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover represents net sales of goods and services provided in the accounting period, including amounts recoverable on |
contracts and excluding value added tax. |
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Amounts recoverable on contracts are services provided by the end of the accounting period but not invoiced at that time. |
They are calculated at sales values and shown on the Balance Sheet as part of debtors. |
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Tangible fixed assets |
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Computer equipment | - |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet |
date. |
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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. |
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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. |
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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. |
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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 UPHOLSTERY SERVICES LIMITED (REGISTERED NUMBER: 07354701) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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4. | TANGIBLE FIXED ASSETS |
Computer |
equipment |
£ |
COST |
At 1st September 2016 |
and 31st August 2017 |
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DEPRECIATION |
At 1st September 2016 |
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Charge for year |
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At 31st August 2017 |
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NET BOOK VALUE |
At 31st August 2017 |
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At 31st August 2016 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2017 | 2016 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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7. | PROVISIONS FOR LIABILITIES |
2017 | 2016 |
£ | £ |
Deferred tax |
Accelerated capital allowances | 84 | 132 |
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Deferred |
tax |
£ |
Balance at 1st September 2016 |
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Credit to Income Statement during year | ( |
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Balance at 31st August 2017 |
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GENIUS UPHOLSTERY SERVICES LIMITED (REGISTERED NUMBER: 07354701) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 31ST AUGUST 2017 |
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8. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2017 | 2016 |
value: | £ | £ |
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Ordinary | £1 | 10 | 10 |
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9. | RESERVES |
Retained |
earnings |
£ |
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At 1st September 2016 |
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Profit for the year |
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Dividends | ( |
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At 31st August 2017 | ( |
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10. | RELATED PARTY DISCLOSURES |
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During the year, total dividends of £12,500 (2016 - £15,000) were paid to the directors . |
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11. | ULTIMATE CONTROLLING PARTY |
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The ultimate controlling party is
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