Silverfin false false 30/04/2024 17/04/2023 30/04/2024 Dr A Mohammed 17/04/2023 24 December 2024 The principal activity of the Company during the financial year was residential care home. The company was incorporated on 19 April 2023 and commenced to trade on 23 June 2023. 14808375 2024-04-30 14808375 bus:Director1 2024-04-30 14808375 core:CurrentFinancialInstruments 2024-04-30 14808375 core:ShareCapital 2024-04-30 14808375 core:RetainedEarningsAccumulatedLosses 2024-04-30 14808375 core:AdditionsToInvestments 2024-04-30 14808375 core:CostValuation 2024-04-30 14808375 bus:OrdinaryShareClass1 2024-04-30 14808375 bus:OrdinaryShareClass2 2024-04-30 14808375 2023-04-17 2024-04-30 14808375 bus:FilletedAccounts 2023-04-17 2024-04-30 14808375 bus:SmallEntities 2023-04-17 2024-04-30 14808375 bus:AuditExempt-NoAccountantsReport 2023-04-17 2024-04-30 14808375 bus:PrivateLimitedCompanyLtd 2023-04-17 2024-04-30 14808375 bus:Director1 2023-04-17 2024-04-30 14808375 bus:OrdinaryShareClass1 2023-04-17 2024-04-30 14808375 bus:OrdinaryShareClass2 2023-04-17 2024-04-30 iso4217:GBP xbrli:pure xbrli:shares

Company No: 14808375 (England and Wales)

GEM CARE HOMES LIMITED

Unaudited Financial Statements
For the financial period from 17 April 2023 to 30 April 2024
Pages for filing with the registrar

GEM CARE HOMES LIMITED

Unaudited Financial Statements

For the financial period from 17 April 2023 to 30 April 2024

Contents

GEM CARE HOMES LIMITED

BALANCE SHEET

As at 30 April 2024
GEM CARE HOMES LIMITED

BALANCE SHEET (continued)

As at 30 April 2024
Note 30.04.2024
£
Fixed assets
Investments 3 100
100
Current assets
Debtors 4 113,151
113,151
Creditors: amounts falling due within one year 5 ( 114,609)
Net current liabilities (1,458)
Total assets less current liabilities (1,358)
Net liabilities ( 1,358)
Capital and reserves
Called-up share capital 6 100
Profit and loss account ( 1,458 )
Total shareholders' deficit ( 1,358)

For the financial period ending 30 April 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The financial statements of Gem Care Homes Limited (registered number: 14808375) were approved and authorised for issue by the Director on 24 December 2024. They were signed on its behalf by:

Dr A Mohammed
Director
GEM CARE HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 April 2023 to 30 April 2024
GEM CARE HOMES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial period from 17 April 2023 to 30 April 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial period, unless otherwise stated.

General information and basis of accounting

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 £.

Going concern

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.

Reporting period length

A company's first accounts covering the period from incorporation on 19 April 2023 to 30 April 2024.

Taxation

Current tax
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.

Impairment of assets

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.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the debtors are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

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.

2. Employees

Period from
17.04.2023 to
30.04.2024
Number
Monthly average number of persons employed by the Company during the period, including the director 1

3. Fixed asset investments

Investments in subsidiaries

30.04.2024
£
Cost
At 17 April 2023 0
Additions 100
At 30 April 2024 100
Carrying value at 30 April 2024 100

4. Debtors

30.04.2024
£
Amounts owed by Group undertakings 113,151

5. Creditors: amounts falling due within one year

30.04.2024
£
Other creditors 114,609

6. Called-up share capital

30.04.2024
£
Allotted, called-up and fully-paid
75 Ordinary A shares of £ 1.00 each 75
25 Ordinary B shares of £ 1.00 each 25
100

7. Related party transactions

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.