Registration number:
Alpha Generation AI Ltd
for the Year Ended 31 December 2023
Alpha Generation AI Ltd
Contents
Company Information |
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Director's Report |
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Statement of Financial Position |
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Notes to the Unaudited Financial Statements |
Alpha Generation AI Ltd
Company Information
Director |
S Aliabadi-Zadeh |
Registered office |
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Accountants |
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Alpha Generation AI Ltd
Director's Report for the Year Ended 31 December 2023
The director presents his annual report on the affairs of Alpha Generation AI Ltd, together with the unaudited financial statements for the year ended 31 December 2023.
Principal activity
The principal activity of the company is that of the provision of information technology consultancy.
Director of the company
The director who held office during the year was as follows:
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis in preparing the annual financial statements.
Events after the financial period
There have been no significant events between the year end and the date of approval of these accounts which would require a change to, or disclosure in, the financial statements.
Small companies provision statement
The director has taken advantage of the small companies exemptions provided by sections 414B and 415A of the Companies Act 2006 from the requirement to prepare a strategic report and in preparing the directors’ report on the grounds that the company is entitled to prepare its accounts for the year in accordance with the small companies regime.
The director's report was approved by the
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Alpha Generation AI Ltd
(Registration number: 12432486)
Statement of Financial Position as at 31 December 2023
Note |
2023 |
2022 |
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Current assets |
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Receivables |
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Cash at bank |
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Payables: Amounts falling due within one year |
( |
( |
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Net liabilities |
( |
( |
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Equity |
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Called up share capital |
1 |
1 |
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Retained earnings |
(2,270) |
(1,970) |
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Shareholders' deficit |
(2,269) |
(1,969) |
For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
• |
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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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and in accordance with the provisions of FRS 102 Section 1A - small entities.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Income statement.
The financial statements of Alpha Generation AI Ltd were approved and authorised for issue by the
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Director
Alpha Generation AI Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023
General information |
Alpha Generation AI Ltd (the 'company') is a private company limited by share capital, registered in England and Wales under the Companies Act. The address of the registered office is given on page 1. The nature of the company’s operations and its principal activities are set out in the directors' report on page 2.
Accounting policies |
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.
Going concern
The director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus he continues to adopt the going concern basis in preparing the annual financial statements.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 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.
The functional currency of the company is considered to be pound sterling (£) because that is the currency of the primary economic environment in which the company operates. The financial statements are presented in pound sterling (£).
Judgements and key sources of estimation uncertainties
There were no key sources of estimation uncertainties or critical judgements made by the directors in the process of applying the company’s accounting policies with significant effect on the amounts recognised in the financial statements.
Revenue recognition
Revenue represents the value of consideration receivable for the provision of services to customers, net of value added tax. Revenue from the provision of services is recognised when the services have been provided. Revenue is recognised when the amount of revenue can be reliably measured and it is probably the future economic benefits will flow to the company.
Alpha Generation AI Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023 (continued)
2 |
Accounting policies (continued) |
Tax
The tax expense for the period comprises current tax. Tax is recognised in the income statement, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
Current tax is provided at amounts expected to be paid (or recovered) using the tax rates and laws that have been enacted or substantively enacted by the year end.
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date where transactions or events that result in an obligation to pay more tax in the future or a right to pay less tax in the future have occurred at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the financial statements that arise from the inclusion of gains and losses in tax assessments in periods different from those in which they are recognised in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that, on the basis of all available evidence, it can be regarded as more likely than not that there will be suitable taxable profits from which the future reversal of the underlying timing differences can be deducted.
Cash and cash equivalents
Cash and cash equivalents comprise bank current accounts that are subject to an insignificant risk of change in value.
Receivables
Receivables are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade receivables is established when there is objective evidence that the company will
not be able to collect all amounts due according to the original terms of the receivables.
Payables
Payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Payables are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Financial instruments
Alpha Generation AI Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023 (continued)
Staff numbers |
The average number of persons employed by the company (including the director) during the year, was
Receivables |
2023 |
2022 |
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Other receivables |
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Corporation tax asset |
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Payables |
2023 |
2022 |
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Due within one year |
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Trade payables |
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Director's current account |
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Accrued expenses |
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Alpha Generation AI Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023 (continued)
Share capital and reserves |
Allotted, called up and fully paid shares
2023 |
2022 |
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No. |
£ |
No. |
£ |
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1 |
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1 |
The company has one class of share capital which carries no right to fixed income.
Reserves
The retained earnings reserve represents cumulative profit or losses net of dividends paid and other adjustments.
Related party transactions |
During the period, S Alibadi-Zadeh, (the director), paid expenses on behalf of the company amounting to £2,554 (2022:£1,954). At the period end, Alpha Generation AI Ltd owed S Alibadi-Zadeh £2,554 (2022:£1,954). The amount is included in creditors at the year end as Director's loan account. This amount is unsecured, interest free and is repayable on demand.
Control |
This company is controlled by the director who owns 100% of the called up share capital.
Events after the financial period |
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