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Company Registration No. 08346334 (England and Wales)
Gen-Lec Limited Unaudited accounts for the year ended 31 January 2023
Gen-Lec Limited Unaudited accounts Contents
Page
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Gen-Lec Limited Company Information for the year ended 31 January 2023
Director
A Childs
Company Number
08346334 (England and Wales)
Registered Office
THE CORNER HOUSE Beaumont Road Church Stretton SHROPSHIRE SY6 6BN
Accountants
S A Acc'y Ltd The Corner House 4 Beaumont Road Church Stretton Shropshire SY6 6BN
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Gen-Lec Limited Statement of financial position as at 31 January 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
26,329 
7,606 
Current assets
Inventories
348,606 
306,469 
Debtors
699,876 
666,364 
Cash at bank and in hand
24,656 
14,568 
1,073,138 
987,401 
Creditors: amounts falling due within one year
(981,139)
(959,809)
Net current assets
91,999 
27,592 
Total assets less current liabilities
118,328 
35,198 
Creditors: amounts falling due after more than one year
(95,907)
- 
Provisions for liabilities
Deferred tax
(5,002)
(1,445)
Net assets
17,419 
33,753 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
17,319 
33,653 
Shareholders' funds
17,419 
33,753 
For the year ending 31 January 2023 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 director acknowledges his 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 and authorised for issue on 23 March 2023 and were signed on its behalf by
A Childs Director Company Registration No. 08346334
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Gen-Lec Limited Notes to the Accounts for the year ended 31 January 2023
1
Statutory information
Gen-Lec Limited is a private company, limited by shares, registered in England and Wales, registration number 08346334. The registered office is THE CORNER HOUSE, Beaumont Road, Church Stretton, SHROPSHIRE, SY6 6BN.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets policy
Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% per annum on reducing balance
Motor vehicles
25% per annum on cost
Fixtures & fittings
25% per annum on reducing balance
Dividends
Final Dividends Were Voted And Paid At £320 per share. Total Paid £32000.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 February 2022
5,000 
65,070 
70,070 
Additions
27,500 
- 
27,500 
At 31 January 2023
32,500 
65,070 
97,570 
Depreciation
At 1 February 2022
5,000 
57,464 
62,464 
Charge for the year
6,875 
1,902 
8,777 
At 31 January 2023
11,875 
59,366 
71,241 
Net book value
At 31 January 2023
20,625 
5,704 
26,329 
At 31 January 2022
- 
7,606 
7,606 
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Gen-Lec Limited Notes to the Accounts for the year ended 31 January 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
699,876 
646,888 
Accrued income and prepayments
- 
19,476 
699,876 
666,364 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
376,489 
359,592 
Obligations under finance leases and hire purchase contracts
6,600 
- 
Trade creditors
516,212 
510,208 
Taxes and social security
81,019 
75,713 
Other creditors
- 
954 
Loans from directors
819 
13,092 
Accruals
- 
250 
981,139 
959,809 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
78,307 
- 
Obligations under finance leases and hire purchase contracts
17,600 
- 
95,907 
- 
8
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
9
Average number of employees
During the year the average number of employees was 6 (2022: 6).
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