GENWEALTH PROPERTIES LIMITED

GENWEALTH PROPERTIES LIMITED

GENWEALTH PROPERTIES LIMITED - Company Information

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23 October 2020 false No description of principal activity Taxfiler 2022.7.1 12972136business:PrivateLimitedCompanyLtd2020-10-232021-10-31 129721362020-10-22 129721362020-10-232021-10-31 12972136business:AuditExemptWithAccountantsReport2020-10-232021-10-31 12972136business:FullAccounts2020-10-232021-10-31 129721362021-10-31 12972136business:Director12020-10-232021-10-31 12972136business:RegisteredOffice2020-10-232021-10-31 12972136core:WithinOneYear2021-10-31 12972136core:AfterOneYear2021-10-31 12972136core:ShareCapital2021-10-31 12972136core:RevaluationReserve2021-10-31 12972136core:RetainedEarningsAccumulatedLosses2021-10-31 12972136business:SmallEntities2020-10-232021-10-31 12972136countries:EnglandWales2020-10-232021-10-31 12972136core:WithinOneYear2020-10-232021-10-31 12972136core:AfterOneYear2020-10-232021-10-31 iso4217:GBP xbrli:pure
Company Registration No. 12972136 (England and Wales)
GENWEALTH PROPERTIES LIMITED Unaudited accounts for the period from 23 October 2020 to 31 October 2021
GENWEALTH PROPERTIES LIMITED Unaudited accounts Contents
Page
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GENWEALTH PROPERTIES LIMITED Company Information for the period from 23 October 2020 to 31 October 2021
Director
Abimbola Oyenike Olabode
Company Number
12972136 (England and Wales)
Registered Office
26 ELEANOR CLOSE DARTFORD DA1 5GQ ENGLAND
Accountants
Accounts Fortress Limited 14 Eleanor close Dartford Kent DA1 5GQ
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GENWEALTH PROPERTIES LIMITED Statement of financial position as at 31 October 2021
2021 
Notes
£ 
Fixed assets
Investment property
4
564,845 
Current assets
Cash at bank and in hand
259 
Creditors: amounts falling due within one year
5
(218,209)
Net current liabilities
(217,950)
Total assets less current liabilities
346,895 
Creditors: amounts falling due after more than one year
6
(351,752)
Net liabilities
(4,857)
Capital and reserves
Called up share capital
1 
Revaluation reserve
(271)
Profit and loss account
(4,587)
Shareholders' funds
(4,857)
For the period ending 31 October 2021 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 director acknowledges her 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 and authorised for issue on 18 July 2022 and were signed on its behalf by
Abimbola Oyenike Olabode Director Company Registration No. 12972136
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GENWEALTH PROPERTIES LIMITED Notes to the Accounts for the period from 23 October 2020 to 31 October 2021
1
Statutory information
GENWEALTH PROPERTIES LIMITED is a private company, limited by shares, registered in England and Wales, registration number 12972136. The registered office is 26 ELEANOR CLOSE, DARTFORD, DA1 5GQ, 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 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.
4
Investment property
2021 
£ 
Additions
566,271 
Net loss from fair value adjustments
(1,426)
At 31 October 2021
564,845 
5
Creditors: amounts falling due within one year
2021 
£ 
Other creditors
24,149 
Loans from directors
193,610 
Accruals
450 
218,209 
Included in the creditors: amounts falling due within one year is the net total of £193,610 of unsecured loan advanced to the company by the director (Mrs A. Olabode). The loan is interest free and repayable on demand
6
Creditors: amounts falling due after more than one year
2021 
£ 
Bank loans
240,845 
Other creditors
110,907 
351,752 
£240,875 included in creditors amounts due after more than one year, are bank loans secured over investment properties of the company.
7
Average number of employees
During the period the average number of employees was 0.
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