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REGISTERED NUMBER: 11682283 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

GEMBA ADVANTAGE LTD

GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEMBA ADVANTAGE LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: D W Mann
E R B Savage
B C Waller
Ms S L Wood
Ms A Griffin





REGISTERED OFFICE: 20-22 Wenlock Road
London
N1 7GU





BUSINESS ADDRESS: Festival House
1 Jessop Avenue
Cheltenham
Gloucestershire
GL50 5SH





REGISTERED NUMBER: 11682283 (England and Wales)





ACCOUNTANTS: Randall & Payne LLP
Chartered Accountants
Chargrove House
Shurdington Road
Cheltenham
Gloucestershire
GL51 4GA

GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 85,518 110,609

CURRENT ASSETS
Debtors 5 1,472,410 1,643,037
Cash at bank 3,137,405 1,592,852
4,609,815 3,235,889
CREDITORS
Amounts falling due within one year 6 1,209,286 889,319
NET CURRENT ASSETS 3,400,529 2,346,570
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,486,047

2,457,179

PROVISIONS FOR LIABILITIES 21,380 21,016
NET ASSETS 3,464,667 2,436,163

CAPITAL AND RESERVES
Called up share capital 1,900 1,900
Retained earnings 3,462,767 2,434,263
3,464,667 2,436,163

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.

GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)

BALANCE SHEET - continued
31 MARCH 2024


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 July 2024 and were signed on its behalf by:




D W Mann - Director E R B Savage - Director




B C Waller - Director Ms S L Wood - Director




Ms A Griffin - Director


GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Gemba Advantage Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of thegoods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 50% on cost
Fixtures and fittings - 50% on cost
Motor vehicles - 20% on cost
Computer equipment - 50% on cost

Financial instruments
Financial Instruments are classified by the directors as basic or advanced following the conditions in FRS 102 Section 11. Basic financial instruments are recognised at amortised cost using the effective interest method.


GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

Going concern
There are no material uncertainties that may cast significant doubt about the company’s ability to continue as a going concern with the ongoing support of the director.

Provisions
Provisions are recognised only where a present obligation exists as a result of a past transaction or event at or prior to the balance sheet date. In addition, a provision is only recognised where the amounts involved can be reliably estimated. Where material, provisions are calculated on a discounted basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 70 (2023 - 70 ) .

GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 2,322 554 152,753 158,165 313,794
Additions - 3,103 - 45,733 48,836
Disposals - - - (1,583 ) (1,583 )
At 31 March 2024 2,322 3,657 152,753 202,315 361,047
DEPRECIATION
At 1 April 2023 1,481 554 61,101 140,049 203,185
Charge for year 841 1,552 30,551 40,191 73,135
Eliminated on disposal - - - (791 ) (791 )
At 31 March 2024 2,322 2,106 91,652 179,449 275,529
NET BOOK VALUE
At 31 March 2024 - 1,551 61,101 22,866 85,518
At 31 March 2023 841 - 91,652 18,116 110,609

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,404,586 1,642,926
Other debtors 703 -
Called up share capital not paid 111 111
Prepayments 42,079 -
Accrued income 24,931 -
1,472,410 1,643,037

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 18,995 7,169
Trade creditors 52,913 13,319
Social security and other taxes 249,521 208,350
Pensions Payable 55,577 39,224
Wages and Salaries Control - 2,276
VAT 620,694 618,841
Other creditors 83,648 -
Directors' current accounts - 140
Accruals and deferred income 127,938 -
1,209,286 889,319

GEMBA ADVANTAGE LTD (REGISTERED NUMBER: 11682283)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

7. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2024 and 31 March 2023:

2024 2023
£    £   
D W Mann
Balance outstanding at start of year (140 ) -
Amounts advanced 1,246 -
Amounts repaid (1,106 ) (140 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (140 )

No interest is being charged on the loan account and there are no set repayment terms.