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REGISTERED NUMBER: 05487354 (England and Wales)















Report of the Director and

Financial Statements for the Year Ended 30 June 2024

for

Gem Construct Limited

Gem Construct Limited (Registered number: 05487354)






Contents of the Financial Statements
for the Year Ended 30 June 2024




Page

Company Information 1

Report of the Director 2

Chartered Accountants' Report 3

Income Statement 4

Balance Sheet 5

Notes to the Financial Statements 6


Gem Construct Limited

Company Information
for the Year Ended 30 June 2024







DIRECTOR: Mr G Georgiou





SECRETARY: Miss H L Short





REGISTERED OFFICE: 1 Mortimer Street
Birkenhead
Merseyside
CH41 5EU





REGISTERED NUMBER: 05487354 (England and Wales)





ACCOUNTANTS: Lerman Quaile
1 Mortimer Street
Birkenhead
Merseyside
CH41 5EU

Gem Construct Limited (Registered number: 05487354)

Report of the Director
for the Year Ended 30 June 2024

The director presents his report with the financial statements of the company for the year ended 30 June 2024.

DIRECTOR
Mr G Georgiou held office during the whole of the period from 1 July 2023 to the date of this report.

STATEMENT OF DIRECTOR'S RESPONSIBILITIES
The director is responsible for preparing the Report of the Director and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:





Mr G Georgiou - Director


17 March 2025

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
Gem Construct Limited


In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gem Construct Limited for the year ended 30 June 2024 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Gem Construct Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gem Construct Limited and state those matters that we have agreed to state to the director of Gem Construct Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gem Construct Limited and its director for our work or for this report.

It is your duty to ensure that Gem Construct Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gem Construct Limited. You consider that Gem Construct Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gem Construct Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Lerman Quaile
1 Mortimer Street
Birkenhead
Merseyside
CH41 5EU


17 March 2025

Gem Construct Limited (Registered number: 05487354)

Income Statement
for the Year Ended 30 June 2024

30.6.24 30.6.23
Notes £    £   

TURNOVER 2,715,527 2,108,392

Cost of sales 1,846,783 1,194,463
GROSS PROFIT 868,744 913,929

Administrative expenses 677,425 674,588
OPERATING PROFIT 4 191,319 239,341

Interest receivable and similar income 516 429
191,835 239,770

Interest payable and similar expenses 2,206 5,122
PROFIT BEFORE TAXATION 189,629 234,648

Tax on profit (147,019 ) 48,359
PROFIT FOR THE FINANCIAL YEAR 336,648 186,289

Gem Construct Limited (Registered number: 05487354)

Balance Sheet
30 June 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 4,342 3,771

CURRENT ASSETS
Stocks 17,312 37,948
Debtors 6 97,687 123,302
Cash at bank and in hand 468,645 369,864
583,644 531,114
CREDITORS
Amounts falling due within one year 7 267,689 345,236
NET CURRENT ASSETS 315,955 185,878
TOTAL ASSETS LESS CURRENT
LIABILITIES

320,297

189,649

CAPITAL AND RESERVES
Called up share capital 1,002 1,002
Retained earnings 319,295 188,647
SHAREHOLDERS' FUNDS 320,297 189,649

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the director and authorised for issue on 17 March 2025 and were signed by:





Mr G Georgiou - Director


Gem Construct Limited (Registered number: 05487354)

Notes to the Financial Statements
for the Year Ended 30 June 2024

1. STATUTORY INFORMATION

Gem Construct Limited 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 25% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

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.

Gem Construct Limited (Registered number: 05487354)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 15 ) .

4. OPERATING PROFIT

The operating profit is stated after charging:

30.6.24 30.6.23
£    £   
Depreciation - owned assets 1,956 1,613

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 July 2023 27,545 29,648 57,193
Additions - 2,527 2,527
At 30 June 2024 27,545 32,175 59,720
DEPRECIATION
At 1 July 2023 26,017 27,405 53,422
Charge for year 382 1,574 1,956
At 30 June 2024 26,399 28,979 55,378
NET BOOK VALUE
At 30 June 2024 1,146 3,196 4,342
At 30 June 2023 1,528 2,243 3,771

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors 97,687 93,702
Other debtors - 29,600
97,687 123,302

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts - 50,417
Trade creditors 107,002 87,283
Taxation and social security 99,389 105,054
Other creditors 61,298 102,482
267,689 345,236

8. ULTIMATE CONTROLLING PARTY

The company is controlled by the director, G Georgiou.