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REGISTERED NUMBER: 11440568 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2023

FOR

GEMCO CONTRACTS LTD

GEMCO CONTRACTS LTD (REGISTERED NUMBER: 11440568)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEMCO CONTRACTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2023







DIRECTOR: G S Carr





REGISTERED OFFICE: 77 Milson Road
West Kensington
London
W14 0LH





REGISTERED NUMBER: 11440568 (England and Wales)





ACCOUNTANTS: Murugesu Associates
Accountants
77 Milson Road
West Kensington
London
W14 0LH

GEMCO CONTRACTS LTD (REGISTERED NUMBER: 11440568)

BALANCE SHEET
30 JUNE 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 62,482 1,368

CURRENT ASSETS
Stocks 410,000 500,000
Debtors 5 422,965 526,243
Cash at bank 980,443 449,155
1,813,408 1,475,398
CREDITORS
Amounts falling due within one year 6 975,984 621,966
NET CURRENT ASSETS 837,424 853,432
TOTAL ASSETS LESS CURRENT
LIABILITIES

899,906

854,800

CAPITAL AND RESERVES
Called up share capital 7 1 1
Retained earnings 8 899,905 854,799
SHAREHOLDERS' FUNDS 899,906 854,800

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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.

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 25 September 2023 and were signed by:





G S Carr - Director


GEMCO CONTRACTS LTD (REGISTERED NUMBER: 11440568)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1. STATUTORY INFORMATION

GEMCO CONTRACTS 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.

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
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 8 ) .

GEMCO CONTRACTS LTD (REGISTERED NUMBER: 11440568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 July 2022 2,506 1,818 4,324
Additions 1,997 80,262 82,259
At 30 June 2023 4,503 82,080 86,583
DEPRECIATION
At 1 July 2022 1,713 1,243 2,956
Charge for year 698 20,447 21,145
At 30 June 2023 2,411 21,690 24,101
NET BOOK VALUE
At 30 June 2023 2,092 60,390 62,482
At 30 June 2022 793 575 1,368

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 418,398 470,508
Other debtors - 49,017
Net wages control - 6,718
Prepayments 4,567 -
422,965 526,243

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other loans 103,500 79,000
Trade creditors 356,271 -
Taxation 1,664 135,678
Social security and other taxes 42,216 38,714
VAT 418,066 155,007
Other creditors 25,694 202,567
Directors' current accounts 18,088 -
Accruals 10,485 11,000
975,984 621,966

7. CALLED UP SHARE CAPITAL


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

GEMCO CONTRACTS LTD (REGISTERED NUMBER: 11440568)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2023

8. RESERVES
Retained
earnings
£   

At 1 July 2022 854,799
Profit for the year 45,106
At 30 June 2023 899,905