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REGISTERED NUMBER: 01470541 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 September 2023

for

GEL Rides Limited

GEL Rides Limited (Registered number: 01470541)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEL Rides Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Mrs M Shelmerdine
D W Shelmerdine
Mrs Z Shelmerdine





SECRETARY: Mrs M Shelmerdine





REGISTERED OFFICE: Dale Works
Manners Industrial Estate
Ilkeston
Derbyshire
DE7 8EF





REGISTERED NUMBER: 01470541 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

GEL Rides Limited (Registered number: 01470541)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 107,799 110,499
Investments 5 9,500 -
117,299 110,499

CURRENT ASSETS
Debtors 6 3,290 489
Cash at bank 1,901 4,277
5,191 4,766
CREDITORS
Amounts falling due within one year 7 56,643 43,826
NET CURRENT LIABILITIES (51,452 ) (39,060 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,847

71,439

CAPITAL AND RESERVES
Called up share capital 2,000 1,000
Revaluation reserve 8 68,359 68,359
Retained earnings 8 (4,512 ) 2,080
SHAREHOLDERS' FUNDS 65,847 71,439

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

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

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 April 2024 and were signed on its behalf by:



D W Shelmerdine - Director


GEL Rides Limited (Registered number: 01470541)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

GEL Rides 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is accounted for in the year in which the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on revaluation
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions paid in the year are charged in the profit and loss account.

Grants
Revenue grants are recognised in the profit and loss account so as to match them with the expenditure towards which they are intended to contribute. Capital grants are recognised systematically in the profit and loss account over the useful economic life of the asset to which the grant relates.

Group accounts
In accordance with the exemptions given by the Companies Act 2006, the company has not produced group financial statements because it heads a small group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

GEL Rides Limited (Registered number: 01470541)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 October 2022
and 30 September 2023 176,649 2,442 179,091
DEPRECIATION
At 1 October 2022 66,150 2,442 68,592
Charge for year 2,700 - 2,700
At 30 September 2023 68,850 2,442 71,292
NET BOOK VALUE
At 30 September 2023 107,799 - 107,799
At 30 September 2022 110,499 - 110,499

Included in freehold property is freehold land of £41,649 (2022 : £41,649) which is not depreciated.

Cost or valuation at 30 September 2023 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 1998 176,649 2,442 179,091

If freehold property had not been revalued it would have been included at the following historical cost:

2023 2022
£    £   
Cost 40,069 40,069
Aggregate depreciation 15,250 14,750

Freehold property was valued on an open market basis basis on 31 March 1998 by the directors .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
Additions 9,500
At 30 September 2023 9,500
NET BOOK VALUE
At 30 September 2023 9,500

GEL Rides Limited (Registered number: 01470541)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 3,290 -
Prepayments - 489
3,290 489

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 504 237
Amounts owed to related parties 46,529 24,482
Tax 3,364 12,746
Other creditors 91 91
Social security and other taxes 4,180 4,023
Accruals and deferred income 1,975 2,247
56,643 43,826

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2022 2,080 68,359 70,439
Profit for the year 53,008 53,008
Dividends (59,600 ) (59,600 )
At 30 September 2023 (4,512 ) 68,359 63,847

9. RELATED PARTY DISCLOSURES

The property owned by GEL Rides Limited is given as security on the bank borrowings of Garmendale Engineering Limited, a company which has common directors.