Company Registration No. 07623344 (England and Wales)
Generational Investments Limited
Unaudited accounts
for the year ended 31 July 2020
Generational Investments Limited
Unaudited accounts
Contents
Generational Investments Limited
Company Information
for the year ended 31 July 2020
Directors
Stephen Abletshauser
Fiona Lascelles
James Parkins
Company Number
07623344 (England and Wales)
Registered Office
59 St. Martin's Lane
Suite 8
London
WC2N 4JS
United Kingdom
Accountants
The Accountancy Cloud
12-18 Hoxton Street
London
N1 6NG
UK
Generational Investments Limited
Statement of financial position
as at
31 July 2020
Tangible assets
338,742
383,083
Investment property
2,100,000
1,500,000
Cash at bank and in hand
19,780
2,897
Creditors: amounts falling due within one year
(1,849,209)
(1,654,531)
Net current liabilities
(1,731,997)
(1,624,964)
Total assets less current liabilities
706,939
258,119
Creditors: amounts falling due after more than one year
-
(206,763)
Net assets
706,939
51,356
Called up share capital
784
784
Share premium
389,866
389,866
Revaluation reserve
1,100,000
500,000
Profit and loss account
(783,711)
(839,294)
Shareholders' funds
706,939
51,356
For the year ending 31 July 2020 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 April 2021 and were signed on its behalf by
Stephen Abletshauser
Director
Company Registration No. 07623344
Generational Investments Limited
Notes to the Accounts
for the year ended 31 July 2020
Generational Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 07623344. The registered office is 59 St. Martin's Lane, Suite 8, London, WC2N 4JS, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Plant & machinery
Cost or valuation
At cost
Charge for the year
44,341
5
Investment property
2020
Fair value at 1 August 2019
1,500,000
Net gain from fair value adjustments
600,000
At 31 July 2020
2,100,000
Generational Investments Limited
Notes to the Accounts
for the year ended 31 July 2020
6
Investments
Subsidiary undertakings
Valuation at 1 August 2019
-
Valuation at 31 July 2020
194
Trade debtors
23,001
14,000
Accrued income and prepayments
10,416
12,670
Total debtors less than one year
97,432
26,670
Total debtors
97,432
26,670
8
Creditors: amounts falling due within one year
2020
2019
Bank loans and overdrafts
227,603
52,185
Obligations under finance leases and hire purchase contracts
277,347
320,168
Taxes and social security
-
(61,887)
Loans from directors
1,344,259
1,344,065
9
Creditors: amounts falling due after more than one year
2020
2019
There is a loan from Barclays Bank Plc for £400,000, which is accrued on a fixed rate basis of 5.210% per annum and is repayable within 120 instalments.
10
Share capital
2020
2019
Allotted, called up and fully paid:
784 Ordinary shares of £1 each
784
784
11
Average number of employees
During the year the average number of employees was 0 (2019: 0).