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Company Registration No. 10903332 (England and Wales)
Gener8 Ads Limited Unaudited accounts for the year ended 31 August 2024
Gener8 Ads Limited Unaudited accounts Contents
Page
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Gener8 Ads Limited Company Information for the year ended 31 August 2024
Directors
Sam Nicholas George Jones Margaret Walker McPherson
Company Number
10903332 (England and Wales)
Registered Office
9, Hatton Street Floor 2 London NW8 8PL England
Accountants
The Accountancy Cloud 1 Fore Street Avenue London EC2Y 9DT
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Gener8 Ads Limited Statement of financial position as at 31 August 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
37,773 
37,438 
Current assets
Debtors
168,877 
16,598 
Cash at bank and in hand
1,401,591 
2,465,219 
1,570,468 
2,481,817 
Creditors: amounts falling due within one year
(126,606)
(125,905)
Net current assets
1,443,862 
2,355,912 
Net assets
1,481,635 
2,393,350 
Capital and reserves
Called up share capital
255 
242 
Share premium
10,171,788 
8,380,591 
Profit and loss account
(8,690,408)
(5,987,483)
Shareholders' funds
1,481,635 
2,393,350 
For the year ending 31 August 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 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 of Directors and authorised for issue on 6 November 2024 and were signed on its behalf by
Sam Nicholas George Jones Director Company Registration No. 10903332
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Gener8 Ads Limited Notes to the Accounts for the year ended 31 August 2024
1
Statutory information
Gener8 Ads Limited is a private company, limited by shares, registered in England and Wales, registration number 10903332. The registered office is 9, Hatton Street, Floor 2, London, NW8 8PL, 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 year, 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.
Going concern
The accounts have been prepared on the assumption that the company is able to carry on business as a going concern for the foreseeable future.
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.
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
20% Straight Line
Computer equipment
20% 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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Research and development
Expenditure on research and development is written off in the year in which it is incurred.
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Gener8 Ads Limited Notes to the Accounts for the year ended 31 August 2024
Research and development tax credit
During the financial year, Gener8 Ads Limited received a tax credit for qualifying research and development expenditure under the Research and Development tax relief scheme. This is presented as a tax repayment in the Income Statement in line with disclosure requirements under FRS 102.
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.
4
Tangible fixed assets
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 September 2023
23,027 
36,033 
59,060 
Additions
2,654 
9,377 
12,031 
At 31 August 2024
25,681 
45,410 
71,091 
Depreciation
At 1 September 2023
6,366 
15,256 
21,622 
Charge for the year
4,814 
6,882 
11,696 
At 31 August 2024
11,180 
22,138 
33,318 
Net book value
At 31 August 2024
14,501 
23,272 
37,773 
At 31 August 2023
16,661 
20,777 
37,438 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
VAT
- 
7,674 
Trade debtors
116,837 
7,721 
Accrued income and prepayments
52,040 
1,203 
168,877 
16,598 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
VAT
10,968 
- 
Trade creditors
37,123 
60,227 
Taxes and social security
64,327 
64,575 
Other creditors
5,308 
1,103 
Accruals
8,880 
- 
126,606 
125,905 
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Gener8 Ads Limited Notes to the Accounts for the year ended 31 August 2024
7
Share capital
2024 
2023 
£ 
£ 
Allotted, called up and fully paid:
2,546,447 Ordinary shares of £0.0001 each
254.64 
241.35 
Shares issued during the period:
132,947 Ordinary shares of £0.0001 each
13.29 
8
Loans to directors
The loan is interest-free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 22 (2023: 20).
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