Company Registration No. 12730371 (England and Wales)
Gem Assets Ltd
Unaudited accounts
for the year ended 31 July 2024
Gem Assets Ltd
Unaudited accounts
Contents
Gem Assets Ltd
Company Information
for the year ended 31 July 2024
Company Number
12730371 (England and Wales)
Registered Office
STIRK HOUSE
CROSS LANES
TOLLERTON
YO61 1LP
ENGLAND
Accountants
Axiom Accountants Ltd
42-44 Adelaide Street
Bradford
West Yorkshire
BD5 0EA
Gem Assets Ltd
Statement of financial position
as at 31 July 2024
Tangible assets
331,200
338,400
Cash at bank and in hand
7,136
-
Creditors: amounts falling due within one year
(2,725)
(5,375)
Net current assets/(liabilities)
4,411
(5,375)
Total assets less current liabilities
335,611
333,025
Creditors: amounts falling due after more than one year
(370,497)
(359,975)
Net liabilities
(34,886)
(26,950)
Called up share capital
75
75
Profit and loss account
(34,961)
(27,025)
Shareholders' funds
(34,886)
(26,950)
For the year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 19 April 2025 and were signed on its behalf by
Kevin Munford
Director
Company Registration No. 12730371
Gem Assets Ltd
Notes to the Accounts
for the year ended 31 July 2024
Gem Assets Ltd is a private company, limited by shares, registered in England and Wales, registration number 12730371. The registered office is STIRK HOUSE, CROSS LANES, TOLLERTON, YO61 1LP, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
2% Straight line
4
Tangible fixed assets
Land & buildings
5
Creditors: amounts falling due within one year
2024
2023
Gem Assets Ltd
Notes to the Accounts
for the year ended 31 July 2024
6
Creditors: amounts falling due after more than one year
2024
2023
Loans from directors
370,497
359,975
7
Average number of employees
During the year the average number of employees was 0 (2023: 0).