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REGISTERED NUMBER: 12166118 (England and Wales)







Unaudited Financial Statements

for the Year Ended 31 August 2024

for

Gems Rentals Limited

Gems Rentals Limited (Registered number: 12166118)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 5

Gems Rentals Limited

Company Information
for the Year Ended 31 August 2024







DIRECTOR: S J Barrett





REGISTERED OFFICE: The Barn
Church Lane
Elland
West Yorkshire
HX5 9QB





REGISTERED NUMBER: 12166118 (England and Wales)





ACCOUNTANTS: Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG

Gems Rentals Limited (Registered number: 12166118)

Balance Sheet
31 August 2024

31.8.24 31.8.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 313,511 313,511

CURRENT ASSETS
Debtors 5 1,343 63,734
Cash at bank 11,387 17,515
12,730 81,249
CREDITORS
Amounts falling due within one year 6 80,797 150,740
NET CURRENT LIABILITIES (68,067 ) (69,491 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

245,444

244,020

CREDITORS
Amounts falling due after more than one
year

7

247,478

247,487
NET LIABILITIES (2,034 ) (3,467 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (2,134 ) (3,567 )
(2,034 ) (3,467 )

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 25 October 2024 and were signed by:



S J Barrett - Director


Gems Rentals Limited (Registered number: 12166118)

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


1. STATUTORY INFORMATION

Gems Rentals 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.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 September 2023
and 31 August 2024 313,511
NET BOOK VALUE
At 31 August 2024 313,511
At 31 August 2023 313,511

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other debtors 1,343 63,734

Gems Rentals Limited (Registered number: 12166118)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.8.24 31.8.23
£    £   
Other creditors 80,797 150,740

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.8.24 31.8.23
£    £   
Bank loans 247,478 247,487

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 247,478 247,487

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

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

31.8.24 31.8.23
£    £   
S J Barrett
Balance outstanding at start of year 63,084 -
Amounts advanced - 63,084
Amounts repaid (63,084 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 63,084

9. RELATED PARTY DISCLOSURES

Included in other creditors are loans totalling £80,000 owed to the director's relatives.

The loans are interest free and repayable on demand.

Gems Rentals Limited

Report of the Accountants to the Director of
Gems Rentals Limited


The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 August 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Lindley Adams Limited Chartered Accountants
28 Prescott Street
Halifax
West Yorkshire
HX1 2LG


Date: .............................................