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REGISTERED NUMBER: 13249508 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Gem & Co Financial Services Limited

Gem & Co Financial Services Limited (Registered number: 13249508)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gem & Co Financial Services Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: G Rees
E Nolan
E Swatton





SECRETARY: D J Wright





REGISTERED OFFICE: 4th Floor, Tuition House
27-37 St George's Road
Wimbledon
London
SW19 4EU





REGISTERED NUMBER: 13249508 (England and Wales)





ACCOUNTANTS: Freeman Carr
Chartered Certified Accountants
The Gatehouse
2 Devonhurst Place
Heathfield Terrace
Chiswick
London
W4 4JD

Gem & Co Financial Services Limited (Registered number: 13249508)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,409 34,230

CURRENT ASSETS
Debtors 5 228,821 159,567
Investments 6 140,645 125,477
Cash at bank and in hand 225,188 149,280
594,654 434,324
CREDITORS
Amounts falling due within one year 7 275,543 193,748
NET CURRENT ASSETS 319,111 240,576
TOTAL ASSETS LESS CURRENT
LIABILITIES

346,520

274,806

PROVISIONS FOR LIABILITIES 18,188 15,983
NET ASSETS 328,332 258,823

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 24,900 24,900
Retained earnings 303,332 233,823
328,332 258,823

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 12 September 2024 and were signed on its behalf by:





G Rees - Director


Gem & Co Financial Services Limited (Registered number: 13249508)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Gem & Co Financial Services 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.

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.

Plant & Machinery - 25% reducing balance
Fixtures & Fittings - 25% reducing balance
Computer Equipment - 25% reducing balance

Financial instruments
The company only enters into basic financial transactions that result in the recognition of
financial assets and liabilities like trade and other debtors and creditors, loans from banks
and other third parties and investments in non-puttable ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of
each reporting period for objective evidence of impairment. If objective evidence of
impairment is found, an impairment loss is recognised in profit and loss.

Financial assets and liabilities are offset and the net amount reported in the Balance Sheet
when there is an enforceable right to set off the recognised amounts and there is an
intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Gem & Co Financial Services Limited (Registered number: 13249508)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

2. ACCOUNTING POLICIES - continued

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 13 (2023 - 11 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023 49,483
Additions 2,315
At 31 March 2024 51,798
DEPRECIATION
At 1 April 2023 15,253
Charge for year 9,136
At 31 March 2024 24,389
NET BOOK VALUE
At 31 March 2024 27,409
At 31 March 2023 34,230

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 121,533 8,065
Amounts owed by group undertakings 72,223 117,639
Other debtors 35,065 33,863
228,821 159,567

6. CURRENT ASSET INVESTMENTS
31.3.24 31.3.23
£    £   
Listed investments 140,645 125,477

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 4,543 -
Trade creditors 81,306 46,902
Taxation and social security 189,694 127,657
Other creditors - 19,189
275,543 193,748