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Gentek Technologies Limited

Annual Report and Unaudited Financial Statements
Year Ended 30 April 2022

Registration number: 3556331

 

Gentek Technologies Limited

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 6

 

Gentek Technologies Limited

Balance Sheet

30 April 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

1,365

1,606

Investment property

5

462,300

462,300

 

463,665

463,906

Current assets

 

Debtors

6

18,404

23,857

Cash at bank and in hand

 

1,218

8,965

 

19,622

32,822

Creditors: Amounts falling due within one year

7

(613,559)

(622,488)

Net current liabilities

 

(593,937)

(589,666)

Net liabilities

 

(130,272)

(125,760)

Capital and reserves

 

Called up share capital

8

500

500

Profit and loss account

(130,772)

(126,260)

Shareholders' deficit

 

(130,272)

(125,760)

 

Gentek Technologies Limited

Balance Sheet

30 April 2022

For the financial year ending 30 April 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 14 November 2023
 

.........................................
R S Pratt
Director

Company Registration Number: 3556331

 

Gentek Technologies Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2022

1

General information

The company is a private company limited by share capital, incorporated in England & Wales.

The address of its registered office is:
Badgers
Dancing Lane
Wincanton
Somerset
BA9 9DE

These financial statements were authorised for issue by the director on 14 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 including Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Notwithstanding the net current liability position of £593,937 (2021: £589,666), the director, having made all necessary enquiries, continues to adopt the going concern basis for the following reasons.

Included within creditors due within one year is £584,382 (2021: £584,382) due to the director. The settlement of this creditor would not be required in the event that the company was unable to meet its other liabilities as they fall due.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

15% on a reducing balance basis

 

Gentek Technologies Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2022

Investment property

Investment property is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.


 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2021 - 1).

 

Gentek Technologies Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2022

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 May 2021

25,250

25,250

At 30 April 2022

25,250

25,250

Depreciation

At 1 May 2021

23,644

23,644

Charge for the year

241

241

At 30 April 2022

23,885

23,885

Carrying amount

At 30 April 2022

1,365

1,365

At 30 April 2021

1,606

1,606

5

Investment properties

2022
£

At 1 May

462,300

At 30 April

462,300

There has been no valuation of investment property by an independent valuer.

6

Debtors

2022
£

2021
£

Prepayments

5,983

12,161

Other debtors

12,421

11,696

18,404

23,857

 

Gentek Technologies Limited

Notes to the Unaudited Financial Statements

Year Ended 30 April 2022

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Due within one year

Trade creditors

24,392

33,488

Other creditors

586,017

586,000

Accruals and deferred income

3,150

3,000

613,559

622,488

8

Share capital

Allotted, called up and fully paid shares

 

2022

2021

 

No.

£

No.

£

Ordinary shares of £1 each

500

500

500

500