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Registered number: 01690911
Geneen Investments (London) Limited
Unaudited Financial Statements
For The Year Ended 30 June 2024
Kalculus
Chartered Accountants & Business Advisers
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 01690911
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 - 562,500
Investments 5 100 37,250
100 599,750
CURRENT ASSETS
Debtors 6 2,287,756 394,376
Cash at bank and in hand 15,369 13,388
2,303,125 407,764
Creditors: Amounts Falling Due Within One Year 7 (448,659 ) (191,243 )
NET CURRENT ASSETS (LIABILITIES) 1,854,466 216,521
TOTAL ASSETS LESS CURRENT LIABILITIES 1,854,566 816,271
NET ASSETS 1,854,566 816,271
CAPITAL AND RESERVES
Called up share capital 8 2,501 2,501
Share premium account 244,929 244,929
Revaluation reserve - 525,485
Profit and Loss Account 1,607,136 43,356
SHAREHOLDERS' FUNDS 1,854,566 816,271
Page 1
Page 2
For the year ending 30 June 2024 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mrs M Singer
Director
14 August 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Geneen Investments (London) Limited is a private company, limited by shares, incorporated in England & Wales, registered number 01690911 . The registered office is 2nd Floor Gadd House, Arcadia Avenue, London, N3 2JU.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings - 10% on reducing balance.
2.4. Investment Properties
All investment properties are carried at fair value determined annually and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided for. Changes in fair value are recognised in the profit and loss account.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 3 (2023: 3)
3 3
4. Tangible Assets
Investment Properties Fixtures & Fittings Total
£ £ £
Cost
As at 1 July 2023 562,500 1,349 563,849
Disposals (562,500 ) - (562,500 )
As at 30 June 2024 - 1,349 1,349
Depreciation
As at 1 July 2023 - 1,349 1,349
As at 30 June 2024 - 1,349 1,349
Net Book Value
As at 30 June 2024 - - -
As at 1 July 2023 562,500 - 562,500
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Page 4
5. Investments
Subsidiaries
£
Cost
As at 1 July 2023 37,250
Disposals (37,150 )
As at 30 June 2024 100
Provision
As at 1 July 2023 -
As at 30 June 2024 -
Net Book Value
As at 30 June 2024 100
As at 1 July 2023 37,250
6. Debtors
2024 2023
£ £
Due within one year
Prepayments and accrued income - 1,800
Other debtors 2,287,756 386,770
Directors' loan accounts - 5,806
2,287,756 394,376
7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Corporation tax 442,325 -
Other creditors 3,334 183,243
Accruals and deferred income 3,000 8,000
448,659 191,243
8. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 2,501 2,501
9. Related Party Transactions
Commissions payable of £9,000 (2023: £7,200) are payable to the subsidiary company, Lanaprop Services Limited, in respect of property management services. The commissions are payable under normal commercial terms.
The amount owed to the company by Lanaprop Services Limited as at the balance sheet date was £194,960 (2023: £292,951).
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