2020-07-31-accounts

Registered number 05316940 Registered Charity Number 1110421

GENESIS IMPACT

(A Company Limited by Guarantee)

Report and Accounts

31 July 2020

GENESIS IMPACT Report and accounts Contents

	Page
Company information	1
Directors' report	2
Accountants' report	3
Profit and loss account	4
Balance sheet	5
Notes to the accounts	6

GENESIS IMPACT Company Information

Directors

Mrs A Olabode Mr O Akingbolagun Mr B Taiwo Rev B Omidiran Miss V Towobola

Secretary

Mr B Taiwo

Independent Examiner

Fumi Popoola FP Associates Limited 36A Goodmayes Road Ilford Essex IG3 9UR

Registered office

53 Disraeli Close London SE28 8AW

Registered number 05316940

1

GENESIS IMPACT Registered number: 05316940 Directors' Report

The directors present their report and accounts for the year ended 31 July 2020.

Principal activities

The company's principal activity during the year continued to be that of Youth Club Activities.

Directors

The following persons served as directors during the year:

Mrs A Olabode Mr O Akingbolagun Mr B Taiwo Rev B Omidiran Miss V Towobola

Small company provisions

This report has been prepared in accordance with the provisions in Part 15 of the Companies Act 2006 applicable to companies subject to the small companies regime.

This report was approved by the board on 31 May 2021 and signed on its behalf.

Rev B Omidiran Director

2

GENESIS IMPACT Independent Examiners' Report

Independent Examiners report to the directors of GENESIS IMPACT

I report to the charity trustees on my examination of the acounst of the company for the year ended 31 July 2020.

Responsibilities and basis of the Report

As the charity's trustees of the company (who are also the directors of the company for the purposes of company law), you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').

Having satisfied myself that the accounst of the company are not required to be audited for this year under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination, I have followed the Directions given by the Charity Commission (under section 145(5)(b) of the 2011 Act.

Independent examiners statement

I have completed my examination. I confirm that no material matters have come to my attention which give me cause to believe that:

-accounting records were not kept in accordance with section 386of the Companies Act 2006; or

-the accounts do not accord with such records; or

-the accounts do not comply with relevant accounting requirements under section 396 of the Companies Act 2006 other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or

-the accounts have not been prepared in accordance with the Charities SORP (FRS102).

I have no concerns and have come across no other matters in connection with the examiation to which attention shoud be drawn in this report in order to enable a proepr understanding of the accounst to be reaced.

Fumi Popoola FP Associates Limited Chartered Certified Accountants 36A Goodmayes Road Ilford Essex IG3 9UR

31 May 2021

3

GENESIS IMPACT Income and Expenditure Account for the year ended 31 July 2020

Income Direct costs Gross surplus Administrative expenses Operating surplus Interest receivable Suplus before taxation Tax on surplus Surplus for the financial year	2020 £ 108,870 (76,616) 32,254 (15,647) 16,607 - 16,607 - 16,607	2019 £ 77,139 (56,836)
		20,303 (12,911)
		7,392 3
		7,395 -
		7,395

4

GENESIS IMPACT Registered number: 05316940 Balance Sheet as at 31 July 2020

Notes Current assets Cash at bank and in hand Creditors: amounts falling due within one year 3 Net current assets Net assets Capital and reserves Income and Expenditure account Shareholder's funds	2020 £ 27,665 (390) 27,275 27,275 27,275 27,275	2019 £ 11,028 (360) 10,668 10,668 10,668 10,668	2019 £ 11,028 (360) 10,668 10,668 10,668 10,668
			10,668
			10,668
			10,668

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.

The member has not required the company to obtain an audit in accordance with section 476 of the Act.

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

The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.

Rev B Omidiran

Director Approved by the board on 31 May 2021

5

GENESIS IMPACT Notes to the Accounts for the year ended 31 July 2020

1 Accounting policies

Basis of preparation

The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

Income

Incoming resources are accounted for on a receivable basis.

Tangible fixed assets

Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

Freehold buildings over 50 years Leasehold land and buildings over the lease term Plant and machinery over 5 years Fixtures, fittings, tools and equipment over 5 years

Debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Creditors

Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

Provisions

Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.

2 Employees Average number of persons employed by the company	2020 Number 0	2019 Number 0

6

GENESIS IMPACT Notes to the Accounts for the year ended 31 July 2020

3	Creditors: amounts falling due within one year	2020	2019
		£	£
	Other creditors	390	360

4 Controlling party

The company is limited by guarantee and therefore has no share capital.

5 Other information

GENESIS IMPACT is a private company limited by shares and incorporated in England. Its registered office is: 53 Disraeli Close London SE28 8AW

7

GENESIS IMPACT

Detailed Income and Expenditure account for the year ended 31 July 2020

This schedule does not form part of the statutory accounts

Income Direct costs Gross Surplus Administrative expenses Operating surplus Interest receivable Surplus before tax	2020 £ 108,870 (76,616) 32,254 (15,647) 16,607 - 16,607	2019 £ 77,139 (56,836)
		20,303 (12,911)
		7,392 3
		7,395

8

GENESIS IMPACT

Detailed Income and Expenditure account for the year ended 31 July 2020

This schedule does not form part of the statutory accounts

Income Positive Parenting Programme Windrush Hawkesmoor School Grants Sundry Peabody Sales Direct Costs Direct labour Administrative expenses Employee costs: Staff training and welfare Motor expenses Entertaining General administrative expenses: Telephone and internet Postage Stationery and printing Information and publications Subscriptions Insurance Administration Equipment expensed Computer costs Charitable Donations Legal and professional costs: Accountancy fees Advertising and PR	2020 £ 43,753 5,400 8,406 29,800 21,511 - - 108,870 76,616 - 10 - 10 683 24 65 - 123 1,109 12,005 - 200 961 15,170 390 77 467 15,647	2019 £ 43,609 6,750 - - 19,966 6,690 124
		77,139
		56,836
		90 - 207
		297
		773 - 20 7 171 1,074 8,890 728 - 491
		12,154
		360 100
		460
		12,911

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