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REGISTERED NUMBER: 03171824 (England and Wales)















Financial Statements for the Year Ended 31 December 2024

for

Genial Associates Limited

Genial Associates Limited (Registered number: 03171824)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Genial Associates Limited

Company Information
for the Year Ended 31 December 2024







DIRECTOR: M Sarno



REGISTERED OFFICE: 36 B The Mall
Ealing
London
W5 3TJ



REGISTERED NUMBER: 03171824 (England and Wales)



ACCOUNTANTS: Atkinsons
Chartered Accountants
Palmeira Avenue Mansions
19 Church Road
Hove
East Sussex
BN3 2FA



SOLICITORS: Dean Wilson LLP
96 Church Street
Brighton
East Sussex
BN1 1UJ

Genial Associates Limited (Registered number: 03171824)

Balance Sheet
31 December 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 202,597 237,076
Investment property 5 6,000,000 6,000,000
6,202,597 6,237,076

CURRENT ASSETS
Debtors 6 1,446,559 1,172,603
Cash at bank 30,990 1,755
1,477,549 1,174,358
CREDITORS
Amounts falling due within one year 7 6,353 12,470
NET CURRENT ASSETS 1,471,196 1,161,888
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,673,793

7,398,964

CREDITORS
Amounts falling due after more than one
year

8

(2,173,263

)

(1,774,842

)

PROVISIONS FOR LIABILITIES (250,898 ) (255,380 )
NET ASSETS 5,249,632 5,368,742

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Fair value reserve 4,511,949 4,511,949
Retained earnings 637,683 756,793
SHAREHOLDERS' FUNDS 5,249,632 5,368,742

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

Genial Associates Limited (Registered number: 03171824)

Balance Sheet - continued
31 December 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 30 April 2025 and were signed by:





M Sarno - Director


Genial Associates Limited (Registered number: 03171824)

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

1. STATUTORY INFORMATION

Genial Associates 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.

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.

The company owes £1,033,247 to Sprachcaffe Schweitz AG, the ultimate parent company. The company is owed £51,180 by group and associated companies.

The financial statements have been prepared on a going concern basis which assumes that the company will continue in operational existence for the foreseeable future. The validity of this assumption depends on the parent company mentioned above not requiring repayment of the loans in the near future. The financial statements do not include any adjustments that would result if this amount was due for repayment.

The director believes that it is appropriate for the financial statements to be prepared on the going concern basis.

Turnover
Turnover represents net invoiced rental and insurance income.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 15% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

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

Genial Associates Limited (Registered number: 03171824)

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

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 January 2024
and 31 December 2024 220,703 71,994 259,785 552,482
DEPRECIATION
At 1 January 2024 66,211 71,851 177,344 315,406
Charge for year 22,070 43 12,366 34,479
At 31 December 2024 88,281 71,894 189,710 349,885
NET BOOK VALUE
At 31 December 2024 132,422 100 70,075 202,597
At 31 December 2023 154,492 143 82,441 237,076

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2024
and 31 December 2024 6,000,000
NET BOOK VALUE
At 31 December 2024 6,000,000
At 31 December 2023 6,000,000

Fair value at 31 December 2024 is represented by:
£   
Valuation in 2017 5,639,936
Cost 360,064
6,000,000

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

31.12.24 31.12.23
£    £   
Cost 360,064 360,064

Investment property was valued on an open market basis on 15 August 2017 by Oakley Property .

Genial Associates Limited (Registered number: 03171824)

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

6. DEBTORS
31.12.24 31.12.23
£    £   
Amounts falling due within one year:
Trade debtors 242,595 247,153
Other debtors 1,000 1,000
Tax 3,014 -
Prepayments 8,754 -
255,363 248,153

Amounts falling due after more than one year:
Amounts owed by group undertakings 1,191,196 924,450

Aggregate amounts 1,446,559 1,172,603

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 804 -
Tax - 110
Directors' current accounts 1,203 1,500
Accrued expenses 4,346 10,860
6,353 12,470

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.12.24 31.12.23
£    £   
Amounts owed to group undertakings 2,173,263 1,774,842

9. RELATED PARTY DISCLOSURES

The company has taken advantage of the exemption under FRS 102 1AC.35 whereby particulars need not be given for related party transactions concluded under normal market conditions, or transactions entered into between two or more members of a group, provided that any subsidiary which is party to the transactions is wholly-owned by such a member.

10. ULTIMATE CONTROLLING PARTY

SCIH Limited owned 100% by Languages Plus Ltd owned 100% by Marcello Sarno.