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Company Registration No. 08721867 (England and Wales)
GenZ Automotive Limited Unaudited accounts for the period from 31 October 2022 to 31 December 2023
GenZ Automotive Limited Unaudited accounts Contents
Page
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GenZ Automotive Limited Company Information for the period from 31 October 2022 to 31 December 2023
Director
John Candillier
Company Number
08721867 (England and Wales)
Registered Office
112 Beaufort Street London SW3 6BU England
Accountants
Finovium & Co 7 Bell Yard London WC2A 2JR
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GenZ Automotive Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
1,667 
- 
Investments
300,970 
- 
302,637 
- 
Current assets
Debtors
34 
12,654 
Cash at bank and in hand
2,029 
54,147 
2,063 
66,801 
Creditors: amounts falling due within one year
(45,529)
(83,571)
Net current liabilities
(43,466)
(16,770)
Total assets less current liabilities
259,171 
(16,770)
Creditors: amounts falling due after more than one year
(15,530)
(1,704,610)
Net assets/(liabilities)
243,641 
(1,721,380)
Capital and reserves
Called up share capital
2,596,002 
2 
Profit and loss account
(2,352,361)
(1,721,382)
Shareholders' funds
243,641 
(1,721,380)
For the period ending 31 December 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.
The members have agreed to the preparation of abridged accounts for the period in accordance with Section 444(2A).
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 29 August 2024 and were signed on its behalf by
John Candillier Director Company Registration No. 08721867
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GenZ Automotive Limited Notes to the Accounts for the period from 31 October 2022 to 31 December 2023
1
Statutory information
GenZ Automotive Limited is a private company, limited by shares, registered in England and Wales, registration number 08721867. The registered office is 112 Beaufort Street, London, SW3 6BU, England.
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 period, 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
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:
Fixtures & fittings
25% Straight line
Computer equipment
33.3% straight line
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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GenZ Automotive Limited Notes to the Accounts for the period from 31 October 2022 to 31 December 2023
4
Tangible fixed assets
Total 
£ 
Cost or valuation
At 31 October 2022
7,208 
Additions
2,000 
At 31 December 2023
9,208 
Depreciation
At 31 October 2022
7,208 
Charge for the period
333 
At 31 December 2023
7,541 
Net book value
At 31 December 2023
1,667 
5
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
2,596,002 Ordinary shares of £1 each
2,596,002 
2 
Shares issued during the period:
2,596,000 Ordinary shares of £1 each
2,596,000 
6
Average number of employees
During the period the average number of employees was 3 (2022: 3).
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