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Registration number: 02533326

Gellert Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 December 2023

image-name

Chartered Accountants

 

Gellert Limited

Contents

Company Information

1

Accountants' Report

2

Balance Sheet

3

Notes to the Unaudited Financial Statements

4 to 8

 

Gellert Limited

Company Information

Directors

Mr M Green

Mrs S E Green

Mr R P Green

Mr G J Green

Company secretary

Mrs S E Green

Registered office

Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

Accountants

Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Gellert Limitedfor the Year Ended 31 December 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gellert Limited for the year ended 31 December 2023 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Gellert Limited, as a body, in accordance with the terms of our engagement letter dated 15 August 2019. Our work has been undertaken solely to prepare for your approval the accounts of Gellert Limited and state those matters that we have agreed to state to the Board of Directors of Gellert Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gellert Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gellert Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gellert Limited. You consider that Gellert Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gellert Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.






Edwards and Keeping
Chartered Accountants
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA

9 September 2024

 

Gellert Limited

(Registration number: 02533326)
Balance Sheet as at 31 December 2023

Note

2023

2022

   

£

£

£

£

Fixed assets

   

 

Tangible assets

4

 

405

 

537

Investment property

5

 

328,338

 

328,338

Other financial assets

6

 

7,098

 

5,479

   

335,841

 

334,354

Current assets

   

 

Stocks

7

110,453

 

110,453

 

Debtors

8

257,444

 

145,679

 

Cash at bank and in hand

 

50,273

 

122,381

 

 

418,170

 

378,513

 

Creditors: Amounts falling due within one year

9

(177,294)

 

(169,691)

 

Net current assets

   

240,876

 

208,822

Net assets

   

576,717

 

543,176

Capital and reserves

   

 

Called up share capital

10

1,000

 

1,000

 

Fair value reserve

199,268

 

206,736

 

Retained earnings

376,449

 

335,440

 

Shareholders' funds

   

576,717

 

543,176

For the financial year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 August 2024 and signed on its behalf by:
 



Mr M Green
Director

 

Gellert Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Unity Chambers
34 High East Street
Dorchester
Dorset
DT1 1HA
England

The principal place of business is:
Unit 4C, Sunrise Business Park
Higher Shaftesbury Road
Blandford Forum
Dorset
DT11 8ST

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% reducing balance

 

Gellert Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023

Fixtures, fittings and equipment

25% reducing balance

Moulds

25% reducing balance

Investment property

Investment property is carried at fair value as determined annually by the directors. Changes in fair value are recognised in profit or loss.

Investments

Listed investments are carried at fair value. Changes in fair value are recognised in profit or loss.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They may subsequently be measured less a provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and may subsequently be measured at amortised cost.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 4 (2022 - 4).

 

Gellert Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023

4

Tangible assets

Fixtures and fittings
£

Moulds
£

Plant and machinery
£

Total
£

Cost

At 1 January 2023

9,354

3,165

1,644

14,163

At 31 December 2023

9,354

3,165

1,644

14,163

Depreciation

At 1 January 2023

8,940

3,065

1,621

13,626

Charge for the year

102

25

5

132

At 31 December 2023

9,042

3,090

1,626

13,758

Carrying amount

At 31 December 2023

312

75

18

405

At 31 December 2022

414

100

23

537

5

Investment properties

Fair value

2023
£

At 1 January

328,338

Additions

7,468

Fair value adjustments

(7,468)

At 31 December

328,338

The investment property is reflected in the accounts at its estimated open market value at the year end, as determined by the company's directors.

There has been no valuation of investment property by an independent valuer.

 

Gellert Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023

6

Other financial assets

Financial assets at fair value through profit and loss
£

Total
£

Listed investments

Fair value

At 1 January 2023

5,479

5,479

Fair value adjustments

1,619

1,619

At 31 December 2023

7,098

7,098

Carrying amount

At 31 December 2023

7,098

7,098

At 31 December 2022

5,479

5,479

The historic cost of listed investments was £10,000 (2022 - £10,000).

7

Stocks

2023
£

2022
£

Finished goods and goods for resale

110,453

110,453

8

Debtors

Current

2023
£

2022
£

Other debtors

257,444

145,679

 

257,444

145,679

Details of non-current trade and other debtors

£257,444 (2022 -£137,000) of other debtors is classified as non current. The non current element of other debtors is a loan that is receivable after more than one year.

 

Gellert Limited

Notes to the Unaudited Financial Statements
for the Year Ended 31 December 2023

9

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

 

Trade creditors

 

7,800

-

Other taxation and social security

 

425

1,622

Other creditors

 

169,069

168,069

 

177,294

169,691

10

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary shares of £1 each

1,000

1,000

1,000

1,000