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REGISTERED NUMBER: 11190124 (England and Wales)















Unaudited Financial Statements

for the Year Ended 28th February 2024

for

Gemrose Properties Limited

Gemrose Properties Limited (Registered number: 11190124)






Contents of the Financial Statements
for the year ended 28th February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gemrose Properties Limited

Company Information
for the year ended 28th February 2024







DIRECTORS: Mr P Farrington
Mrs A C Farrington





REGISTERED OFFICE: Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE





REGISTERED NUMBER: 11190124 (England and Wales)





ACCOUNTANTS: Robin Oatridge & Co Limited
Chartered Certified Accountants
Black Bull House
353-355 Station Road
Bamber Bridge
Preston
Lancashire
PR5 6EE

Gemrose Properties Limited (Registered number: 11190124)

Balance Sheet
28th February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 791,857 791,857

CURRENT ASSETS
Debtors 5 197,671 250,566
Cash at bank 147,503 99,357
345,174 349,923
CREDITORS
Amounts falling due within one year 6 99,575 63,010
NET CURRENT ASSETS 245,599 286,913
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,037,456

1,078,770

CREDITORS
Amounts falling due after more than one
year

7

424,500

525,000
NET ASSETS 612,956 553,770

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 612,856 553,670
SHAREHOLDERS' FUNDS 612,956 553,770

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 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.

Gemrose Properties Limited (Registered number: 11190124)

Balance Sheet - continued
28th February 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 11th October 2024 and were signed on its behalf by:





Mr P Farrington - Director


Gemrose Properties Limited (Registered number: 11190124)

Notes to the Financial Statements
for the year ended 28th February 2024

1. STATUTORY INFORMATION

Gemrose Properties 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
No depreciation is provided in respect of the land and buildings which are held as investments. This treatment may be a departure from the requirements of the Companies Act 2006 regarding depreciation of fixed assets, but the directors consider this accounting policy is necessary for the accounts to give a true and fair view, as the land and buildings are held for investment not consumption.

This policy was adopted on 1st March 2019.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Gemrose Properties Limited (Registered number: 11190124)

Notes to the Financial Statements - continued
for the year ended 28th February 2024

4. TANGIBLE FIXED ASSETS
Land and
buildings
£   
COST
At 1st March 2023
and 28th February 2024 791,857
NET BOOK VALUE
At 28th February 2024 791,857
At 28th February 2023 791,857

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 22,671 20,566
Other debtors 175,000 230,000
197,671 250,566

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 21,851 457
Taxation and social security 22,818 14,157
Other creditors 54,906 48,396
99,575 63,010

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Other creditors 424,500 525,000

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.