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REGISTERED NUMBER: 12580964 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Generation Management Properties Limited

Generation Management Properties Limited (Registered number: 12580964)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

Generation Management Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: Mr M Alzarrad





REGISTERED OFFICE: C/O Sterling Partners
Unit 15
7 Wenlock Road
London
N1 7SL





REGISTERED NUMBER: 12580964 (England and Wales)





ACCOUNTANTS: Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR

Generation Management Properties Limited (Registered number: 12580964)

Balance Sheet
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Investment property 3 4,000,000 4,000,000

CURRENT ASSETS
Debtors 4 122,905 101,365

CREDITORS
Amounts falling due within one year 5 (108,080 ) (109,556 )
NET CURRENT ASSETS/(LIABILITIES) 14,825 (8,191 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,014,825

3,991,809

CREDITORS
Amounts falling due after more than one
year

6

(2,744,273

)

(2,764,795

)

PROVISIONS FOR LIABILITIES (257,536 ) (257,536 )
NET ASSETS 1,013,016 969,478

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 9 772,607 772,607
Retained earnings 239,409 195,871
1,013,016 969,478

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

Generation Management Properties Limited (Registered number: 12580964)

Balance Sheet - continued
31 March 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 27 December 2024 and were signed by:





Mr M Alzarrad - Director


Generation Management Properties Limited (Registered number: 12580964)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
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 rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

2. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

3. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 4,000,000
NET BOOK VALUE
At 31 March 2024 4,000,000
At 31 March 2023 4,000,000

Generation Management Properties Limited (Registered number: 12580964)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2022 1,030,143
Cost 2,969,857
4,000,000

If investment property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 2,969,857 2,969,857

Investment property was valued on on open market basis on 31 March 2024 by the directors .

4. DEBTORS
2024 2023
£    £   
Amounts falling due within one year:
Related party loan 100,817 69,658
Payment on account 12,893 -
Other debtors 5,220 6,048
Share capital 629 629
Prepayments 3,346 2,888
122,905 79,223

Amounts falling due after more than one year:
Related party loan - 22,142

Aggregate amounts 122,905 101,365

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 7) 83,942 83,942
Trade creditors 192 -
Tax 10,595 9,626
Other creditors 5,220 6,048
Related party loan 3,380 -
Accrued expenses 4,751 9,940
108,080 109,556

Generation Management Properties Limited (Registered number: 12580964)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

6. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 7) 1,116,006 1,196,179
Shareholders loan account 800,168 788,381
Directors' loan accounts 828,099 780,235
2,744,273 2,764,795

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 780,237 860,410

7. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 83,942 83,942

Amounts falling due between one and two years:
Bank loans - 1-2 years 83,942 83,942

Amounts falling due between two and five years:
Bank loans - 2-5 years 251,827 251,827

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 780,237 860,410

8. FINANCIAL INSTRUMENTS

Bank loans are initially measured at cost and subsequently at cost.

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 772,607

10. OTHER FINANCIAL COMMITMENTS

As at 31st March 2024, the company had outstanding commitments in respect of bank loans totalling £1,199,949 (2023: £1,280,122). This bank loan is held in trust on behalf of Generation Management LLP.

Generation Management Properties Limited (Registered number: 12580964)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

11. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
Mr M Alzarrad
Balance outstanding at start of year (780,235 ) (751,381 )
Amounts advanced 10,337 -
Amounts repaid (56,376 ) (28,854 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (826,274 ) (780,235 )

12. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mr M Alzarrad.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Generation Management Properties Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Generation Management Properties Limited for the year ended 31 March 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Generation Management Properties Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Generation Management Properties Limited and state those matters that we have agreed to state to the director of Generation Management Properties Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Generation Management Properties Limited and its director for our work or for this report.

It is your duty to ensure that Generation Management Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Generation Management Properties Limited. You consider that Generation Management Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Generation Management Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Sterling Partners Limited
Chartered Accountants
Chartered Tax Advisors
2nd Floor, Grove House
774-780 Wilmslow Road
Didsbury
Manchester
Greater Manchester
M20 2DR


Date: .............................................