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REGISTERED NUMBER: 08044842 (England and Wales)










Unaudited Financial Statements

for the Year Ended 30 April 2024

for

81STGENERATION LIMITED

81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


81STGENERATION LIMITED

Company Information
FOR THE YEAR ENDED 30 APRIL 2024







DIRECTOR: J Walters





REGISTERED OFFICE: 741 High Road
London
N12 0BP





REGISTERED NUMBER: 08044842 (England and Wales)





ACCOUNTANTS: AGK Partners
Chartered Accountants
1 Kings Avenue
London
N21 3NA

81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)

Statement of Financial Position
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Property, plant and equipment 5 1,583 2,247
Investments 6 36,567 29,605
38,151 31,853

CURRENT ASSETS
Inventories 99,181 91,261
Debtors 7 12,648 13,081
Cash at bank 42,259 50,543
154,088 154,885
CREDITORS
Amounts falling due within one year 8 144,660 128,081
NET CURRENT ASSETS 9,428 26,804
TOTAL ASSETS LESS CURRENT
LIABILITIES

47,579

58,657

CREDITORS
Amounts falling due after more than one
year

9

(25,417

)

(30,404

)

PROVISIONS FOR LIABILITIES (2,327 ) (247 )
NET ASSETS 19,835 28,006

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 19,834 28,005
19,835 28,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 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.

81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)

Statement of Financial Position - continued
30 APRIL 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 22 January 2025 and were signed by:





J Walters - Director


81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 APRIL 2024

1. STATUTORY INFORMATION

81stgeneration Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. 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.

Significant judgements and estimates
In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period. or in the period of the revision and future periods where the revision affects both current and future periods.

There are no significant judgements or estimates involved in the preparation of the financial statements.

Revenue
Revenue represents the amounts derived from the provision of goods and services during the normal course of business, stated net of value added tax, trade discounts and returns. Revenue from the sale of goods is recognised when significant risks and rewards of ownership have been transferred to the buyer.

Revenue from services is recognised on a straight-line basis over the term of term of the contract or as the services are provided.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life.

Property, plant and equipment
Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost included costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets less their estimated residual value over their expected useful lives, on the following basis:

Plant & machinery25% on Reducing Balance
Computer equipment 33% on Reducing Balance

The carrying values of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are stated at the lower of cost and net realisable value. Cost includes the purchase price and other directly attributable costs of bringing the inventories to their present location and condition. Net realisable value represents the estimated selling price less all estimated costs of completion and selling expenses.

Where the net realisable value of inventories is lower than their cost, inventories are written down, and the impairment is recognised as an expense in the profit and loss accounts.

81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial assets and liabilities, which include debtors, creditors, cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised costusing the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 statement of financial position 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.

Operating leases
Operating leases are leases that do not transfer substantially all the risks and rewards of ownership to the company. Lease payments are recognised as an expense on straight-line basis over the period of the lease.

Contingent rents, such as amounts based on sales or usages are recognised as an expense in the period in which they are incurred.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Fixed asset investments
Fixed asset investments, which include shares and bitcoins investments, are initially recognized at fair value, which is the transaction price, including any directly attributable transaction costs.

After initial recognition,these investments are measured at fair value at each reporting date.Any changes in the fair value, whether positive or negative, are recognized directly in the profit and loss account.

On disposal of an investment, the difference between the net disposal proceeds and the carrying amount at the date of disposal is recognized in the profit and loss account.

Investments classified as fixed assets are those intended to be held for the long term. Short-term investments are held for trading or liquidity purposes are classified as current assets.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 May 2023
and 30 April 2024 50,000
AMORTISATION
At 1 May 2023
and 30 April 2024 49,999
NET BOOK VALUE
At 30 April 2024 1
At 30 April 2023 1

5. PROPERTY, PLANT AND EQUIPMENT
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 12,066 2,271 14,337
DEPRECIATION
At 1 May 2023 11,101 989 12,090
Charge for year 241 423 664
At 30 April 2024 11,342 1,412 12,754
NET BOOK VALUE
At 30 April 2024 724 859 1,583
At 30 April 2023 965 1,282 2,247

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 May 2023 29,605
Revaluations 8,502
Reclassification/transfer (1,540 )
At 30 April 2024 36,567
NET BOOK VALUE
At 30 April 2024 36,567
At 30 April 2023 29,605

Cost or valuation at 30 April 2024 is represented by:

Other
investments
£   
Valuation in 2024 8,502
Cost 28,065
36,567

Fixed asset investments were valued on an active market based on quoted prices available for identical assets.

81STGENERATION LIMITED (REGISTERED NUMBER: 08044842)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 APRIL 2024

6. FIXED ASSET INVESTMENTS - continued

Included in reclassification/transfer difference of £1,540, £755 was reclassed to other debtors and £785 was transfered to profit and loss account.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,831 5,682
Other debtors 10,817 7,399
12,648 13,081

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 5,000 5,012
Trade creditors 19,133 23,596
Taxation and social security 30,218 17,229
Other creditors 90,309 82,244
144,660 128,081

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans 25,417 30,404

10. RELATED PARTY DISCLOSURES

Included in creditors, amount falling due within one year, is an amount of £275 (2023: £155) owed to the directors of the company.

During the year, an interest of £642 has been charged on the overdrawn balance at an official rate of interest.