IRIS Accounts Production v23.3.0.418 12384873 director 1.4.22 31.3.23 31.3.23 false true false false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh123848732022-03-31123848732023-03-31123848732022-04-012023-03-31123848732021-03-31123848732021-04-012022-03-31123848732022-03-3112384873ns10:Originalns15:EnglandWales2022-04-012023-03-3112384873ns14:PoundSterlingns10:Original2022-04-012023-03-3112384873ns10:Originalns10:Director12022-04-012023-03-3112384873ns10:Original2022-04-012023-03-3112384873ns10:Original2023-03-3112384873ns10:Originalns10:PrivateLimitedCompanyLtd2022-04-012023-03-3112384873ns10:Originalns10:SmallEntities2022-04-012023-03-3112384873ns10:Originalns10:AuditExempt-NoAccountantsReport2022-04-012023-03-3112384873ns10:Originalns10:SmallCompaniesRegimeForDirectorsReport2022-04-012023-03-3112384873ns10:SmallCompaniesRegimeForAccountsns10:Original2022-04-012023-03-3112384873ns10:Originalns10:FullAccounts2022-04-012023-03-3112384873ns10:Original12022-04-012023-03-3112384873ns10:Originalns10:OrdinaryShareClass12022-04-012023-03-3112384873ns10:Originalns10:RegisteredOffice2022-04-012023-03-3112384873ns10:Original2022-03-3112384873ns10:Originalns5:CurrentFinancialInstruments2023-03-3112384873ns10:Originalns5:CurrentFinancialInstruments2022-03-3112384873ns10:Originalns5:Non-currentFinancialInstruments2023-03-3112384873ns10:Originalns5:Non-currentFinancialInstruments2022-03-3112384873ns5:ShareCapitalns10:Original2023-03-3112384873ns5:ShareCapitalns10:Original2022-03-3112384873ns10:Originalns5:RetainedEarningsAccumulatedLosses2023-03-3112384873ns10:Originalns5:RetainedEarningsAccumulatedLosses2022-03-3112384873ns5:IntangibleAssetsOtherThanGoodwillns10:Original2022-04-012023-03-3112384873ns10:Originalns5:ComputerSoftware2022-04-012023-03-3112384873ns10:Originalns5:PlantMachinery2022-04-012023-03-3112384873ns10:Originalns5:FurnitureFittings2022-04-012023-03-3112384873ns10:Originalns5:ComputerEquipment2022-04-012023-03-3112384873ns10:Original2021-04-012022-03-3112384873ns10:Originalns5:ComputerSoftware2022-03-3112384873ns10:Originalns5:ComputerSoftware2023-03-3112384873ns10:Originalns5:ComputerSoftware2022-03-3112384873ns10:Originalns5:PlantMachinery2022-03-3112384873ns10:Originalns5:FurnitureFittings2022-03-3112384873ns10:Originalns5:ComputerEquipment2022-03-3112384873ns10:Original2022-03-3112384873ns10:Originalns5:PlantMachinery2023-03-3112384873ns10:Originalns5:FurnitureFittings2023-03-3112384873ns10:Originalns5:ComputerEquipment2023-03-3112384873ns10:Originalns5:PlantMachinery2022-03-3112384873ns10:Originalns5:FurnitureFittings2022-03-3112384873ns10:Originalns5:ComputerEquipment2022-03-3112384873ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3112384873ns10:Originalns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-03-3112384873ns10:Originalns5:WithinOneYear2023-03-3112384873ns10:Originalns5:WithinOneYear2022-03-3112384873ns5:BetweenOneFiveYearsns10:Original2023-03-3112384873ns5:BetweenOneFiveYearsns10:Original2022-03-3112384873ns10:Originalns5:AllPeriods2023-03-3112384873ns10:Originalns5:AllPeriods2022-03-3112384873ns10:Originalns10:OrdinaryShareClass12023-03-31
REGISTERED NUMBER: 12384873 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

GEMMA INC LTD

GEMMA INC LTD (REGISTERED NUMBER: 12384873)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEMMA INC LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTOR: G Crawley-Roberts





REGISTERED OFFICE: Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR





REGISTERED NUMBER: 12384873 (England and Wales)





ACCOUNTANTS: MDG Business Associates Limited
Room 73
Wrest House
Wrest Park
Silsoe
Bedfordshire
MK45 4HR

GEMMA INC LTD (REGISTERED NUMBER: 12384873)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 840 1,080
Tangible assets 6 15,287 14,069
16,127 15,149

CURRENT ASSETS
Stocks 34,526 35,572
Debtors 7 3,758 2,896
Cash at bank and in hand 3,109 9,306
41,393 47,774
CREDITORS
Amounts falling due within one year 8 36,067 30,427
NET CURRENT ASSETS 5,326 17,347
TOTAL ASSETS LESS CURRENT
LIABILITIES

21,453

32,496

CREDITORS
Amounts falling due after more than one year 9 10,000 30,000
NET ASSETS 11,453 2,496

CAPITAL AND RESERVES
Called up share capital 11 100 100
Retained earnings 11,353 2,396
SHAREHOLDERS' FUNDS 11,453 2,496

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

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 20 October 2023 and were signed by:





G Crawley-Roberts - Director


GEMMA INC LTD (REGISTERED NUMBER: 12384873)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Gemma Inc Ltd 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% on cost
Fixtures and fittings - 20% on cost
Computer equipment - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

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.

Coronavirus job retention scheme
The Coronavirus Job Retention Scheme (CJRS) is a government wage support measure. It is designed to protect jobs in the wake of the economic impacts of the COVID-19 pandemic, and to support employers to continue paying wages. The CJRS allows employers to reclaim up to 80% of the wage costs of 'furloughed employees,' being those directly impacted by the pandemic, up to a cap of £2,500 per month per employee.

Other grants relating to covid-19
Eligible businesses that were forced to close due to the government lockdown of specific businesses during the COVID-19 pandemic were entitled to a cash grant from their local council for each period under national
restrictions.

GEMMA INC LTD (REGISTERED NUMBER: 12384873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

3. ACCOUNTING POLICIES - continued

Operating leases
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profits on a straight line basis over the period of the lease.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

5. INTANGIBLE FIXED ASSETS
Computer
software
£   
Cost
At 1 April 2022
and 31 March 2023 1,200
Amortisation
At 1 April 2022 120
Amortisation for year 240
At 31 March 2023 360
Net book value
At 31 March 2023 840
At 31 March 2022 1,080

6. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Computer
machinery fittings equipment Totals
£    £    £    £   
Cost
At 1 April 2022 - 16,309 3,235 19,544
Additions 3,415 2,327 - 5,742
Disposals - (398 ) - (398 )
At 31 March 2023 3,415 18,238 3,235 24,888
Depreciation
At 1 April 2022 - 4,574 901 5,475
Charge for year - 3,609 530 4,139
Eliminated on disposal - (13 ) - (13 )
At 31 March 2023 - 8,170 1,431 9,601
Net book value
At 31 March 2023 3,415 10,068 1,804 15,287
At 31 March 2022 - 11,735 2,334 14,069

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,308 2,896
Prepayments and accrued income 450 -
3,758 2,896

GEMMA INC LTD (REGISTERED NUMBER: 12384873)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 2,032 240
Tax 1,273 -
Social security and other taxes 389 474
VAT 4,710 4,190
Other creditors 105 -
Director's loan account 25,557 21,478
Accruals and deferred income 2,001 4,045
36,067 30,427

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Directors' loan account 10,000 30,000

10. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 10,575 10,575
Between one and five years 3,525 14,100
14,100 24,675

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RELATED PARTY DISCLOSURES

At the year end the company owed an amount of £35,557 (2022: £51,478) to the director, G L Crawley-Roberts. The loan
has no interest charged (2022: £Nil) and there are no set repayment terms.