Company Registration No. 07623344 (England and Wales)
Generational Investments Limited
Unaudited accounts
for the year ended 31 July 2024
Generational Investments Limited
Unaudited accounts
Contents
Generational Investments Limited
Company Information
for the year ended 31 July 2024
Directors
Stephen Abletshauser
Fiona Lascelles
James Parkins
Company Number
07623344 (England and Wales)
Registered Office
Suite 8 207 Regent Street, Third Floor
London
W1B 3HH
United Kingdom
Accountants
The Accountancy Cloud
1 Fore Street Avenue
London
EC2Y 9DT
Generational Investments Limited
Statement of financial position
as at 31 July 2024
Tangible assets
465,697
462,412
Investment property
2,666,667
2,666,667
Cash at bank and in hand
11,575
4,376
Creditors: amounts falling due within one year
(2,643,048)
(2,525,010)
Net current liabilities
(2,181,871)
(2,079,519)
Total assets less current liabilities
966,703
1,065,770
Creditors: amounts falling due after more than one year
(88,525)
(68,950)
Net assets
878,178
996,820
Called up share capital
784
784
Share premium
389,866
389,866
Revaluation reserve
1,666,667
1,666,667
Profit and loss account
(1,179,139)
(1,060,497)
Shareholders' funds
878,178
996,820
For the year ending 31 July 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 22 April 2025 and were signed on its behalf by
Stephen Abletshauser
Director
Company Registration No. 07623344
Generational Investments Limited
Notes to the Accounts
for the year ended 31 July 2024
Generational Investments Limited is a private company, limited by shares, registered in England and Wales, registration number 07623344. The registered office is Suite 8 207 Regent Street, Third Floor, London, W1B 3HH, 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:
Plant & machinery
5% - 33%
Fixtures & fittings
10% - 20%
Computer equipment
10% - 33%
The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. The Company therefore continues to adopt the going concern basis in preparing its financial statements.
Investment property is included at market fair value. Gains are recognised in the Statement of Other Comprehensive Income. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Given stagnant capital values despite rental growth, management has determined no material revaluation is required. The carrying amount remains appropriate. Market conditions will continue to be monitored for future reassessment.
A prior period error was identified relating to the over accrual of interest in previous years. Interest expense and the related loan balance were both overstated by £59,966. The error has been corrected by restating the comparative figures.
Generational Investments Limited
Notes to the Accounts
for the year ended 31 July 2024
4
Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 August 2023
784,173
7,666
791,839
Additions
111,555
-
111,555
At 31 July 2024
895,728
7,666
903,394
At 1 August 2023
323,242
6,185
329,427
Charge for the year
106,789
1,481
108,270
At 31 July 2024
430,031
7,666
437,697
At 31 July 2024
465,697
-
465,697
At 31 July 2023
460,931
1,481
462,412
Fair value at 1 August 2023
2,666,667
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Investments
Subsidiary undertakings
Valuation at 1 August 2023
16,210
Valuation at 31 July 2024
16,210
Amounts falling due within one year
Trade debtors
171,756
172,005
Amounts due from group undertakings etc.
274,466
257,246
Accrued income and prepayments
3,380
11,864
8
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
26,130
47,473
Obligations under finance leases and hire purchase contracts
52,652
28,547
Loans from directors
2,563,181
2,424,898
Generational Investments Limited
Notes to the Accounts
for the year ended 31 July 2024
9
Creditors: amounts falling due after more than one year
2024
2023
Obligations under finance leases and hire purchase contracts
88,525
42,820
Allotted, called up and fully paid:
784 Ordinary shares of £1 each
784
784
11
Transactions with related parties
Income of £143,862 for rental and electricity was received from Character Mailing Services Ltd, a company owned by Generational Investments Ltd.
12
Average number of employees
During the year the average number of employees was 0 (2023: 0).