REGISTERED NUMBER: |
GEMIN CONSTRUCTION LTD |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
REGISTERED NUMBER: |
GEMIN CONSTRUCTION LTD |
Unaudited Financial Statements for the Year Ended 30 June 2024 |
GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252) |
Contents of the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2024 |
Page |
Company Information | 1 |
Statement of Financial Position | 2 |
Notes to the Financial Statements | 3 |
GEMIN CONSTRUCTION LTD |
Company Information |
FOR THE YEAR ENDED 30 JUNE 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
36-38 Northland Row |
Dungannon |
Co. Tyrone |
BT71 6AP |
GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252) |
Statement of Financial Position |
30 JUNE 2024 |
2024 | 2023 |
Notes | £ | £ |
NON-CURRENT ASSETS |
Property, plant and equipment | 5 |
CURRENT ASSETS |
Inventories | 6 |
Receivables: amounts falling due within one year |
7 |
Debtors: amounts falling due after more than one year |
7 |
Cash at bank |
PAYABLES |
Amounts falling due within one year | 8 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the director and authorised for issue on |
GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252) |
Notes to the Financial Statements |
FOR THE YEAR ENDED 30 JUNE 2024 |
1. | STATUTORY INFORMATION |
Gemin Construction Ltd is a |
2. | STATEMENT OF COMPLIANCE |
3. | ACCOUNTING POLICIES |
Basis of preparation |
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements. |
Revenue |
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
Property, plant and equipment and depreciation |
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows: |
Plant and machinery | 15% Reducing balance |
The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. |
Inventories |
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling. |
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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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. |
GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
3. | ACCOUNTING POLICIES - continued |
Cash flow statement |
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company. |
4. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2023 - NIL). |
5. | PROPERTY, PLANT AND EQUIPMENT |
Plant and |
machinery |
£ |
COST |
At 1 July 2023 |
and 30 June 2024 |
DEPRECIATION |
At 1 July 2023 |
Charge for year |
At 30 June 2024 |
NET BOOK VALUE |
At 30 June 2024 |
At 30 June 2023 |
6. | INVENTORIES |
2024 | 2023 |
£ | £ |
Work-in-progress |
7. | RECEIVABLES |
2024 | 2023 |
£ | £ |
Amounts falling due within one year: |
Trade receivables |
Other receivables |
Tax |
Amounts falling due after more than one year: |
Other debtors |
Aggregate amounts |
GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252) |
Notes to the Financial Statements - continued |
FOR THE YEAR ENDED 30 JUNE 2024 |
8. | PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade payables |
Tax |
Social security and other taxes |
VAT | 95,130 | 47,362 |
Other payables |
Directors' current accounts | 8,111 | 8,111 |
Accruals and deferred income |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2024 | 2023 |
value: | £ | £ |
Ordinary | £1 | 2 | 2 |