2023-04-012023-12-312023-12-31false04117236GEMHOUSE PROPERTIES 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GEMHOUSE PROPERTIES LIMITED

Registered Number
04117236
(England and Wales)

Unaudited Financial Statements for the Period ended
31 December 2023

GEMHOUSE PROPERTIES LIMITED
Company Information
for the period from 1 April 2023 to 31 December 2023

Directors

CLIFTON, Jason Adam
CLIFTON, Robert Claude

Registered Address

Grove House
2 Woodberry Grove
London
N12 0DR

Registered Number

04117236 (England and Wales)
GEMHOUSE PROPERTIES LIMITED
Balance Sheet as at
31 December 2023

Notes

31 Dec 2023

31 Mar 2023

£

£

£

£

Fixed assets
Tangible assets3-500,000
-500,000
Current assets
Debtors4-2,000
Cash at bank and on hand235,1142,081
235,1144,081
Creditors amounts falling due within one year5(9,207)(88,693)
Net current assets (liabilities)225,907(84,612)
Total assets less current liabilities225,907415,388
Provisions for liabilities-(28,024)
Net assets225,907387,364
Capital and reserves
Called up share capital22
Other reserves-117,994
Profit and loss account225,905269,368
Shareholders' funds225,907387,364
The financial statements were approved and authorised for issue by the Board of Directors on 8 April 2024, and are signed on its behalf by:
CLIFTON, Robert Claude
Director
Registered Company No. 04117236
GEMHOUSE PROPERTIES LIMITED
Notes to the Financial Statements
for the period ended 31 December 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The directors have decided to cease trading from the balance sheet date and therefore these accounts have not been prepared on a going concern basis.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Current taxation
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.
2.Average number of employees

20232023
Average number of employees during the year22
3.Tangible fixed assets

Total

£
Cost or valuation
At 01 April 23500,000
Additions(500,000)
Net book value
At 31 December 23-
At 31 March 23500,000
The investment property was sold during the period and the loss on disposal was written off to the profit and loss account.
4.Debtors: amounts due within one year

2023

2023

££
Trade debtors / trade receivables-2,000
Total-2,000
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2023

££
Taxation and social security7,0074,440
Other creditors-82,652
Accrued liabilities and deferred income2,2001,601
Total9,20788,693
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
6.Events after reporting date
As explained under note 5 to the accounts, the company has ceased trading and will be dormant for the foreseeable future.
7.Related party transactions
Clifton properties International Limited- a related company by virtue of common control. During the year, the related company paid expenses in the sum of £8,000 (2023- £8,910) on behalf of the reporting entity. As at the balance sheet date an amount £nil (2023: £75,402) remained due to Clifton Properties International Limited which is included within other creditors. The loan in the sum of £67,402 was written off during the period.