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REGISTERED NUMBER: 11190124 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28th February 2023

for

Gemrose Properties Limited

Gemrose Properties Limited (Registered number: 11190124)






Contents of the Financial Statements
for the year ended 28th February 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gemrose Properties Limited

Company Information
for the year ended 28th February 2023







DIRECTORS: Mr P Farrington
Mrs A C Farrington





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 11190124 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Gemrose Properties Limited (Registered number: 11190124)

Balance Sheet
28th February 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 791,857 364,789

CURRENT ASSETS
Debtors 5 250,566 586,405
Cash at bank 99,357 52,665
349,923 639,070
CREDITORS
Amounts falling due within one year 6 63,010 61,352
NET CURRENT ASSETS 286,913 577,718
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,078,770

942,507

CREDITORS
Amounts falling due after more than one
year

7

525,000

415,000
NET ASSETS 553,770 527,507

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 553,670 527,407
SHAREHOLDERS' FUNDS 553,770 527,507

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Gemrose Properties Limited (Registered number: 11190124)

Balance Sheet - continued
28th February 2023


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 Board of Directors and authorised for issue on 9th November 2023 and were signed on its behalf by:





Mr P Farrington - Director


Gemrose Properties Limited (Registered number: 11190124)

Notes to the Financial Statements
for the year ended 28th February 2023

1. STATUTORY INFORMATION

Gemrose Properties 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.

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

Tangible fixed assets
No depreciation is provided in respect of the land and buildings which are held as investments. This treatment may be a departure from the requirements of the Companies Act 2006 regarding depreciation of fixed assets, but the directors consider this accounting policy is necessary for the accounts to give a true and fair view, as the land and buildings are held for investment not consumption.

This policy was adopted on 1st March 2019.

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.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

Gemrose Properties Limited (Registered number: 11190124)

Notes to the Financial Statements - continued
for the year ended 28th February 2023

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st March 2022 364,789
Additions 427,068
At 28th February 2023 791,857
NET BOOK VALUE
At 28th February 2023 791,857
At 28th February 2022 364,789

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 20,566 11,405
Other debtors 230,000 575,000
250,566 586,405

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 457 2,079
Taxation and social security 14,157 14,020
Other creditors 48,396 45,253
63,010 61,352

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Other creditors 525,000 415,000

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.