1 false false false false false false false false false false true false false false false false false No description of principal activity 2022-08-01 Sage Accounts Production Advanced 2023 - FRS102_2023 6,297 6,297 4,281 504 4,785 2,016 xbrli:pure xbrli:shares iso4217:GBP 3531462 2022-08-01 2023-12-31 3531462 2023-12-31 3531462 2022-07-31 3531462 2021-08-01 2022-07-31 3531462 2022-07-31 3531462 2021-07-31 3531462 core:FurnitureFittings 2022-08-01 2023-12-31 3531462 bus:Director1 2022-08-01 2023-12-31 3531462 core:WithinOneYear 2023-12-31 3531462 core:WithinOneYear 2022-07-31 3531462 core:FurnitureFittings 2022-07-31 3531462 core:ShareCapital 2023-12-31 3531462 core:ShareCapital 2022-07-31 3531462 core:RetainedEarningsAccumulatedLosses 2023-12-31 3531462 core:RetainedEarningsAccumulatedLosses 2022-07-31 3531462 core:FurnitureFittings 2022-07-31 3531462 bus:SmallEntities 2022-08-01 2023-12-31 3531462 bus:AuditExemptWithAccountantsReport 2022-08-01 2023-12-31 3531462 bus:SmallCompaniesRegimeForAccounts 2022-08-01 2023-12-31 3531462 bus:PrivateLimitedCompanyLtd 2022-08-01 2023-12-31 3531462 bus:FullAccounts 2022-08-01 2023-12-31
COMPANY REGISTRATION NUMBER: 3531462
GEMSTAR TECHNOLOGY LIMITED
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED
31 December 2023
GEMSTAR TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION
31 December 2023
31 Dec 23
31 Jul 22
Note
£
£
£
£
FIXED ASSETS
Tangible assets
5
2,016
CURRENT ASSETS
Debtors
6
2,925
56
Cash at bank and in hand
27,464
89,895
--------
--------
30,389
89,951
CREDITORS: amounts falling due within one year
7
6,168
9,106
--------
--------
NET CURRENT ASSETS
24,221
80,845
--------
--------
TOTAL ASSETS LESS CURRENT LIABILITIES
24,221
82,861
PROVISIONS
Taxation including deferred tax
499
--------
--------
NET ASSETS
24,221
82,362
--------
--------
GEMSTAR TECHNOLOGY LIMITED
STATEMENT OF FINANCIAL POSITION (continued)
31 December 2023
31 Dec 23
31 Jul 22
Note
£
£
£
£
CAPITAL AND RESERVES
Called up share capital
2
2
Profit and loss account
24,219
82,360
--------
--------
SHAREHOLDERS FUNDS
24,221
82,362
--------
--------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the period ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 18 March 2024 , and are signed on behalf of the board by:
R Stephenson
Director
Company registration number: 3531462
GEMSTAR TECHNOLOGY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
PERIOD FROM 1 AUGUST 2022 TO 31 DECEMBER 2023
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 32 Key Way, Fulford, York, YO19 4QS.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
(a) Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currenct of the entity.
(b) Going concern
In March 2020, the UK was impacted by the outbreak of Covid-19. The Government imposed significant restrictions at that time in an effort to manage the spread of the virus which resulted in the company having to review and change its working practices to ensure compliance with these restrictions. More latterly, the UK economy has been impacted by rising inflation, interest rates and energy costs, exacerbated by the war in Ukraine. All these matters have impacted the company's trading results to a greater or lesser extent. At the date of signing these financial statements, the directors have considered the effect of these matters on the company with the information available to it and do not believe that it will affect the ability of the company to continue to trade for the foreseeable future. On this basis, the directors have prepared these financial statements on a going concern basis.
(c) Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax.
(d) Current tax
The taxation expense represents the aggregate amount of current tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
(e) Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
(f) Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% reducing balance
(g) Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense.
(h) Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.
(i) Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the period amounted to 1 (2022: 1 ).
5. TANGIBLE ASSETS
Fixtures and fittings
Total
£
£
Cost
At 1 August 2022
6,297
6,297
Disposals
( 6,297)
( 6,297)
-------
-------
At 31 December 2023
-------
-------
Depreciation
At 1 August 2022
4,281
4,281
Charge for the period
504
504
Disposals
( 4,785)
( 4,785)
-------
-------
At 31 December 2023
-------
-------
Carrying amount
At 31 December 2023
-------
-------
At 31 July 2022
2,016
2,016
-------
-------
6. DEBTORS
31 Dec 23
31 Jul 22
£
£
Other debtors
2,925
56
-------
----
7. CREDITORS: amounts falling due within one year
31 Dec 23
31 Jul 22
£
£
Accruals
1,850
1,317
Corporation tax
4,590
Directors current account
4,318
3,199
-------
-------
6,168
9,106
-------
-------