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REGISTERED NUMBER: 14018797 (England and Wales)















Unaudited Financial Statements for the Year Ended 30th April 2024

for

Gems Laundry LTD

Gems Laundry LTD (Registered number: 14018797)






Contents of the Financial Statements
for the Year Ended 30th April 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gems Laundry LTD

Company Information
for the Year Ended 30th April 2024







DIRECTORS: J A Ellerbeck
Mrs M A Groom
Mrs N L Marinovich





SECRETARY:





REGISTERED OFFICE: Garreg Felan
Llanfairpwllgwyngyll
Anglesey
LL61 6YD





REGISTERED NUMBER: 14018797 (England and Wales)





ACCOUNTANTS: A.Hughes-Jones, Dyson & Co.
Capel Moreia
South Penrallt
Caernarfon
Gwynedd
LL55 1NS

Gems Laundry LTD (Registered number: 14018797)

Balance Sheet
30th April 2024

30.4.24 30.4.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 4,500 6,000
Tangible assets 5 30,616 18,000
35,116 24,000

CURRENT ASSETS
Debtors 6 19,389 13,672
Cash at bank 6,221 11,040
25,610 24,712
CREDITORS
Amounts falling due within one year 7 28,084 36,427
NET CURRENT LIABILITIES (2,474 ) (11,715 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

32,642

12,285

CAPITAL AND RESERVES
Called up share capital 3 3
Retained earnings 32,639 12,282
32,642 12,285

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 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.

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 13th January 2025 and were signed on its behalf by:



Mrs N L Marinovich - Director


Gems Laundry LTD (Registered number: 14018797)

Notes to the Financial Statements
for the Year Ended 30th April 2024

1. STATUTORY INFORMATION

Gems Laundry 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2023, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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 - 20% on reducing balance

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

Gems Laundry LTD (Registered number: 14018797)

Notes to the Financial Statements - continued
for the Year Ended 30th April 2024

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st May 2023
and 30th April 2024 7,500
AMORTISATION
At 1st May 2023 1,500
Charge for year 1,500
At 30th April 2024 3,000
NET BOOK VALUE
At 30th April 2024 4,500
At 30th April 2023 6,000

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st May 2023 22,500
Additions 20,500
At 30th April 2024 43,000
DEPRECIATION
At 1st May 2023 4,500
Charge for year 7,884
At 30th April 2024 12,384
NET BOOK VALUE
At 30th April 2024 30,616
At 30th April 2023 18,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade debtors 19,389 13,672

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.4.24 30.4.23
£    £   
Trade creditors 1,325 525
Taxation and social security 6,870 5,292
Other creditors 19,889 30,610
28,084 36,427