ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

GENUS CAPITAL 2 LIMITED - Company Information

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Caseware UK (AP4) 2018.0.196 2018.0.196 2018-12-312018-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.truetrueThe principal activity of the company during the year was that of an investment company.false2018-01-01 10398418 2018-01-01 2018-12-31 10398418 2016-09-28 2017-12-31 10398418 2018-12-31 10398418 2017-12-31 10398418 c:Director3 2018-01-01 2018-12-31 10398418 d:CurrentFinancialInstruments 2018-12-31 10398418 d:CurrentFinancialInstruments 2017-12-31 10398418 d:CurrentFinancialInstruments d:WithinOneYear 2018-12-31 10398418 d:CurrentFinancialInstruments d:WithinOneYear 2017-12-31 10398418 d:ShareCapital 2018-12-31 10398418 d:ShareCapital 2017-12-31 10398418 d:RetainedEarningsAccumulatedLosses 2018-12-31 10398418 d:RetainedEarningsAccumulatedLosses 2017-12-31 10398418 c:OrdinaryShareClass1 2018-01-01 2018-12-31 10398418 c:OrdinaryShareClass1 2018-12-31 10398418 c:OrdinaryShareClass2 2018-01-01 2018-12-31 10398418 c:OrdinaryShareClass2 2018-12-31 10398418 c:FRS102 2018-01-01 2018-12-31 10398418 c:AuditExempt-NoAccountantsReport 2018-01-01 2018-12-31 10398418 c:FullAccounts 2018-01-01 2018-12-31 10398418 c:PrivateLimitedCompanyLtd 2018-01-01 2018-12-31 10398418 d:ImmediateParent 2018-01-01 2018-12-31 10398418 d:ImmediateParent 2018-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 10398418
















GENUS CAPITAL 2 LIMITED


UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2018
































GENUS CAPITAL 2 LIMITED
REGISTERED NUMBER:10398418

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2018

As restated
2018
2017
Note
£
£

Fixed assets
  

Investments
 4 
3,688,656
3,688,656

  
3,688,656
3,688,656

Current assets
  

Debtors: amounts falling due within one year
 5 
1
1

  
1
1

Creditors: amounts falling due within one year
 6 
(3,696,445)
(3,689,755)

Net current liabilities
  
 
 
(3,696,444)
 
 
(3,689,754)

Total assets less current liabilities
  
(7,788)
(1,098)

  

Net liabilities
  
(7,788)
(1,098)


Capital and reserves
  

Called up share capital 
 7 
102
102

Profit and loss account
  
(7,890)
(1,200)

  
(7,788)
(1,098)


Page 1

GENUS CAPITAL 2 LIMITED
REGISTERED NUMBER:10398418
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2018

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





Mr R Mathias
Director

Date: 30 August 2019

The notes on pages 3 to 5 form part of these financial statements.

Page 2

GENUS CAPITAL 2 LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018

1.


General information

Genus Capital 2 Limited is a private limited company, limited by shares, registered in England and Wales, registered number 10398418. The registered office is 2nd Floor Stratus House, Emperor Way, Exeter Business Park, Exeter, EX1 3QS. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The parent company will continue to support the company and will not withdraw their loans unless the company is in a position to repay the loan. Therefore, the going concern basis is deemed appropriate.

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of income and retained earnings except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of income and retained earnings within 'other operating income'.

 
2.4

Valuation of investments

Investments in unlisted Company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Page 3

GENUS CAPITAL 2 LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018

2.Accounting policies (continued)

 
2.5

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.6

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in the case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2017: 3).


4.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 January 2018
3,688,656



At 31 December 2018
3,688,656




Page 4

GENUS CAPITAL 2 LIMITED

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2018

5.


Debtors

As restated
2018
2017
£
£


Other debtors
1
1

1
1



6.


Creditors: AMOUNTS FALLING DUE WITHIN ONE YEAR

As restated
2018
2017
£
£

Amounts owed to group undertakings
3,695,245
3,688,555

Accruals and deferred income
1,200
1,200

3,696,445
3,689,755



7.


Share capital

As restated
2018
2017
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 (2017: 100) A Ordinary shares of £0.01 each
1
1
10,100 (2017: 10,100) Ordinary shares of £0.01 each
101
101

102

102



8.


Prior year adjustment

An adjustment has been made in the prior period to more accurately reflect the share capital filed at Companies House. 


9.


Related party transactions

At the year end the company owed £3,695,245 (2017: £3,688,555) to Genus Capital Limited, the parent company. This is included in other creditors due in less than one year. 

 
Page 5