Company No:
Contents
Note | 30.04.2024 | |
£ | ||
Fixed assets | ||
Investments | 3 |
|
100 | ||
Current assets | ||
Debtors | 4 |
|
113,151 | ||
Creditors: amounts falling due within one year | 5 | (
|
Net current liabilities | (1,458) | |
Total assets less current liabilities | (1,358) | |
Net liabilities | (
|
|
Capital and reserves | ||
Called-up share capital | 6 |
|
Profit and loss account | (
|
|
Total shareholders' deficit | (
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Director's responsibilities:
The financial statements of Gem Care Homes Limited (registered number:
Dr A Mohammed
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.
Gem Care Homes Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Unit A, 82 James Carter Road, Mildenhall, IP28 7DE, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £1,358. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
A company's first accounts covering the period from incorporation on 19 April 2023 to 30 April 2024.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Period from 17.04.2023 to 30.04.2024 |
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Number | |
Monthly average number of persons employed by the Company during the period, including the director |
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Investments in subsidiaries
30.04.2024 | |
£ | |
Cost | |
At 17 April 2023 | 0 |
Additions |
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At 30 April 2024 |
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Carrying value at 30 April 2024 |
|
30.04.2024 | |
£ | |
Amounts owed by Group undertakings |
|
30.04.2024 | |
£ | |
Other creditors |
|
30.04.2024 | |
£ | |
Allotted, called-up and fully-paid | |
|
|
|
|
100 |
Transactions with the entity's director
30.04.2024 | |
£ | |
Amounts owed to director | 113,409 |
The loan from the director is unsecured, provided interest free and repayable on demand.
The company has taken advantage of the exemption in FRS 102 35.1AC “Related Party Disclosures” from disclosing transactions with other members of the group.