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REGISTERED NUMBER: 05874671 (England and Wales)



Unaudited Financial Statements

for the Year Ended 31st July 2024

for

Gemstone Aviation Ltd

Gemstone Aviation Ltd (Registered number: 05874671)






Contents of the Financial Statements
for the Year Ended 31st July 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Gemstone Aviation Ltd

Company Information
for the Year Ended 31st July 2024







DIRECTORS: C P Dawes
H T Burkal





REGISTERED OFFICE: Leeds East Airport
Church Fenton
Tadcaster
LS24 9SE





REGISTERED NUMBER: 05874671 (England and Wales)





ACCOUNTANTS: Laytons
Chartered Accountants
6 Manchester Road
Buxton
Derbyshire
SK17 6SB

Gemstone Aviation Ltd (Registered number: 05874671)

Abridged Balance Sheet
31st July 2024

31.7.24 31.7.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,034 117,010

CURRENT ASSETS
Stocks 841,849 1,945,881
Debtors 1,938,128 130,773
Cash at bank 26,870 478,392
2,806,847 2,555,046
CREDITORS
Amounts falling due within one year 1,488,280 576,251
NET CURRENT ASSETS 1,318,567 1,978,795
TOTAL ASSETS LESS CURRENT LIABILITIES 1,323,601 2,095,805

CREDITORS
Amounts falling due after more than one year 642,207 1,331,884
NET ASSETS 681,394 763,921

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 681,274 763,801
SHAREHOLDERS' FUNDS 681,394 763,921

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st July 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.

Gemstone Aviation Ltd (Registered number: 05874671)

Abridged Balance Sheet - continued
31st July 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31st July 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 31st October 2024 and were signed on its behalf by:




C P Dawes - Director



H T Burkal - Director


Gemstone Aviation Ltd (Registered number: 05874671)

Notes to the Financial Statements
for the Year Ended 31st July 2024

1. STATUTORY INFORMATION

Gemstone Aviation 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.

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 and machinery etc - 25% on reducing balance and 5% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 4 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st August 2023 232,510
Disposals (211,294 )
At 31st July 2024 21,216
DEPRECIATION
At 1st August 2023 115,500
Charge for year 1,679
Eliminated on disposal (100,997 )
At 31st July 2024 16,182
NET BOOK VALUE
At 31st July 2024 5,034
At 31st July 2023 117,010

5. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the company owed the director Mr C Dawes, £38,000 (2023: £Nil). This loan, included in Creditors, is interest free and repayable on demand.

At the balance sheet date the company owed the directors, Mr H Burkal, £38,000 (2023: £Nil). This loan, included in Creditors, is interest free and repayable on demand.