Company Registration No. 04430049 (England and Wales)
Gen-Tech Products Limited
Unaudited accounts
for the year ended 31 March 2024
Gen-Tech Products Limited
Unaudited accounts
Contents
Gen-Tech Products Limited
Company Information
for the year ended 31 March 2024
Company Number
04430049 (England and Wales)
Registered Office
The Corner House
4 Beaumont Road
Church Stretton
Shropshire
SY6 6BN
United Kingdom
Accountants
S A Acc'y Ltd
The Corner House
4 Beaumont Road
Church Stretton
Shropshire
SY6 6BN
Gen-Tech Products Limited
Statement of financial position
as at 31 March 2024
Tangible assets
275,536
277,422
Cash at bank and in hand
90,220
239,046
Creditors: amounts falling due within one year
(131,056)
(133,719)
Net current assets
362,529
284,221
Total assets less current liabilities
638,065
561,643
Creditors: amounts falling due after more than one year
(50,850)
(58,118)
Provisions for liabilities
Deferred tax
(3,226)
(3,584)
Net assets
583,989
499,941
Called up share capital
100
100
Profit and loss account
583,889
499,841
Shareholders' funds
583,989
499,941
For the year ending 31 March 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 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 29 April 2024 and were signed on its behalf by
Jason Hartwright
Director
Company Registration No. 04430049
Gen-Tech Products Limited
Notes to the Accounts
for the year ended 31 March 2024
Gen-Tech Products Limited is a private company, limited by shares, registered in England and Wales, registration number 04430049. The registered office is The Corner House, 4 Beaumont Road, Church Stretton, Shropshire, SY6 6BN, United Kingdom.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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:
Land & buildings
5% per annum reducing balance
Plant & machinery
10% per annum reducing balance
Motor vehicles
25% per annum reducing balance
Fixtures & fittings
25% per annum reducing balance
4
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 April 2023
285,033
14,000
11,076
52,548
362,657
At 31 March 2024
285,033
14,000
11,076
52,548
362,657
At 1 April 2023
13,102
9,874
10,978
51,281
85,235
Charge for the year
1,337
412
10
127
1,886
At 31 March 2024
14,439
10,286
10,988
51,408
87,121
At 31 March 2024
270,594
3,714
88
1,140
275,536
At 31 March 2023
271,931
4,126
98
1,267
277,422
Gen-Tech Products Limited
Notes to the Accounts
for the year ended 31 March 2024
Amounts falling due within one year
Trade debtors
114,767
117,128
Amounts due from group undertakings etc.
228,216
-
Other debtors
40,683
37,778
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
10,791
10,440
Trade creditors
75,546
89,800
Taxes and social security
42,631
28,816
Loans from directors
413
413
7
Creditors: amounts falling due after more than one year
2024
2023
8
Transactions with related parties
The company occupies premises owned by Gentech Properties Ltd.
Rents paid on an arms length basis to that company amounted to £9,500 (2023: £10000).
At the year end Gentech Properties Ltd owed the company £40683 (2023 : £37778).
During the year under review the company made loans to Gentech 2023 Ltd, an associated company of £228,216, owed at the year end £228,216.
9
Average number of employees
During the year the average number of employees was 2 (2023: 2).