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Financial Statements |
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for the Year Ended 30 September 2019 |
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for |
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Genie Services Limited |
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Financial Statements |
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for the Year Ended 30 September 2019 |
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for |
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Genie Services Limited |
Genie Services Limited (Registered number: 05651209) |
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Contents of the Financial Statements |
for the Year Ended 30 September 2019 |
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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 | 3 |
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Genie Services Limited |
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Company Information |
for the Year Ended 30 September 2019 |
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Directors: |
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Secretary: |
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Registered office: |
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Registered number: |
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Auditors: |
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120 New Cavendish Street, |
London |
W1W 6XX |
Genie Services Limited (Registered number: 05651209) |
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Balance Sheet |
30 September 2019 |
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30.9.19 | 30.9.18 |
Notes | £ | £ |
Current assets |
Debtors | 4 |
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Cash at bank |
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Creditors |
Amounts falling due within one year | 5 |
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Net current assets |
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Total assets less current liabilities |
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Capital and reserves |
Called up share capital | 6 |
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Retained earnings | 7 |
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Shareholders' funds |
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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 and authorised for issue on
were signed on its behalf by: |
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Genie Services Limited (Registered number: 05651209) |
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Notes to the Financial Statements |
for the Year Ended 30 September 2019 |
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1. | Statutory information |
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The Company is a private company limited by shares, incorporated in England and Wales. Its registered office is |
3rd Floor, Buckingham House, Buckingham Street, Aylesbury, Bucks, HP20 2LA. |
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The company's principal business activity is that of the provision of on-line health and safety training (branded as |
HSE Passport). |
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2. | Accounting policies |
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Basis of preparing the financial statements |
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The financial statements are prepared in sterling, which is the functional currency of the entity. |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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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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Going concern |
The Company meets its day to day capital requirements through the continued support of its shareholders and |
directors. Both have agreed to continue their support and therefore the financial statements are prepared on a |
going concern basis. |
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Financial instruments |
Financial instruments are classified and accounted for, according to the substance of the contractual |
arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any |
contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. |
Genie Services Limited (Registered number: 05651209) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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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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4. | Debtors: amounts falling due within one year |
30.9.19 | 30.9.18 |
£ | £ |
Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Amounts owed by group undertakings are unsecured, repayable on demand and interest free. |
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5. | Creditors: amounts falling due within one year |
30.9.19 | 30.9.18 |
£ | £ |
Trade creditors |
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Amounts owed to group undertakings |
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Taxation and social security |
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Other creditors |
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Amounts owed to group undertakings are unsecured, repayable on demand and interest free. |
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6. | Called up share capital |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 30.9.19 | 30.9.18 |
value: | £ | £ |
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Ordinary £1 Shares | 2 | 2 | 2 |
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Called-up share capital represents the nominal value of shares that have been issued. |
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7. | Reserves |
Retained |
earnings |
£ |
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At 1 October 2018 |
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Deficit for the year | ( |
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At 30 September 2019 |
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The retained earnings reserve records retained earnings and accumulated losses. |
Genie Services Limited (Registered number: 05651209) |
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Notes to the Financial Statements - continued |
for the Year Ended 30 September 2019 |
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8. | Disclosure under Section 444(5B) of the Companies Act 2006 |
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The Report of the Auditors was unqualified. |
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for and on behalf of
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9. | Related party disclosures |
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As the company is a wholly owned subsidiary of Orange Genie Group Limited and the group publishes |
consolidated accounts, it has taken advantage of the exemptions contained in FRS 102 and has therefore not |
disclosed transactions with entities which form part of the group. |
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Copies of the group financial statements of Orange Genie Group Limited can be obtained from Companies |
House, Crown Way, Cardiff, CF14 3UZ. |
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10. | Post balance sheet events - covid 19 |
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Since 31 December 2019, the spread of COVID-19 has severely impacted many local economies around the |
globe. In many countries, businesses are being forced to cease or limit operations for long or indefinite periods |
of time. Measures taken to contain the spread of the virus, including travel bans, quarantines, social distancing, |
and closures of non-essential services have triggered significant disruptions to businesses worldwide, resulting |
in an economic slowdown. Global stock markets have also experienced great volatility and a significant |
weakening. Governments and central banks have responded with monetary and fiscal interventions to stabilise |
economic conditions. |
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At the date of approving these financial statements, it is far too early to tell exactly what impact the coronavirus |
will have on the company and its members. The duration and impact of COVID-19 pandemic, as well as the |
effectiveness of government and central bank responses, remain unclear at this time. It is not possible to reliably |
estimate the duration and severity of these consequences, as well as their impact on the financial position and |
results of the Company and future periods. |
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11. | Ultimate controlling party |
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The directors regard Orange Genie Group Limited, a company incorporated in England as being the ultimate |
holding company and controlling party. |
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Orange Genie Group Limited was under the control of the directors G. Fisher, C. Graham, R. Baker and J. Ward |
throughout the period, by virtue of their 99% shareholding in the company. |