29 28 Gemied Ltd 09188656 false 2023-09-01 2024-08-31 2024-08-31 The principal activity of the company is running a public house Digita Accounts Production Advanced 6.30.9574.0 true 09188656 2023-09-01 2024-08-31 09188656 2024-08-31 09188656 core:CurrentFinancialInstruments 2024-08-31 09188656 core:CurrentFinancialInstruments core:WithinOneYear 2024-08-31 09188656 core:Non-currentFinancialInstruments 2024-08-31 09188656 core:Non-currentFinancialInstruments core:AfterOneYear 2024-08-31 09188656 core:FurnitureFittingsToolsEquipment 2024-08-31 09188656 core:OtherPropertyPlantEquipment 2024-08-31 09188656 bus:SmallEntities 2023-09-01 2024-08-31 09188656 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 09188656 bus:FilletedAccounts 2023-09-01 2024-08-31 09188656 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 09188656 bus:RegisteredOffice 2023-09-01 2024-08-31 09188656 bus:Director1 2023-09-01 2024-08-31 09188656 bus:Director2 2023-09-01 2024-08-31 09188656 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 09188656 core:FurnitureFittings 2023-09-01 2024-08-31 09188656 core:FurnitureFittingsToolsEquipment 2023-09-01 2024-08-31 09188656 core:OtherPropertyPlantEquipment 2023-09-01 2024-08-31 09188656 core:PlantMachinery 2023-09-01 2024-08-31 09188656 countries:EnglandWales 2023-09-01 2024-08-31 09188656 2023-08-31 09188656 core:FurnitureFittingsToolsEquipment 2023-08-31 09188656 core:OtherPropertyPlantEquipment 2023-08-31 09188656 2022-09-01 2023-08-31 09188656 2023-08-31 09188656 core:CurrentFinancialInstruments 2023-08-31 09188656 core:CurrentFinancialInstruments core:WithinOneYear 2023-08-31 09188656 core:Non-currentFinancialInstruments 2023-08-31 09188656 core:Non-currentFinancialInstruments core:AfterOneYear 2023-08-31 09188656 core:FurnitureFittingsToolsEquipment 2023-08-31 09188656 core:OtherPropertyPlantEquipment 2023-08-31 xbrli:pure iso4217:GBP

Registration number: 09188656

Gemied Ltd

trading as Bull

Unaudited Filleted Financial Statements

for the Year Ended 31 August 2024

 

Gemied Ltd

trading as Bull

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 7

 

Gemied Ltd

trading as Bull

(Registration number: 09188656)
Balance Sheet as at 31 August 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

60,416

58,702

Current assets

 

Stocks

5

20,055

19,741

Debtors

6

51,324

108,956

Cash at bank and in hand

 

21,750

8,346

 

93,129

137,043

Creditors: Amounts falling due within one year

7

(380,767)

(241,957)

Net current liabilities

 

(287,638)

(104,914)

Total assets less current liabilities

 

(227,222)

(46,212)

Creditors: Amounts falling due after more than one year

7

(8,129)

(22,953)

Provisions for liabilities

(11,976)

(11,976)

Net liabilities

 

(247,327)

(81,141)

Capital and reserves

 

Called up share capital

2

2

Retained earnings

(247,329)

(81,143)

Shareholders' deficit

 

(247,327)

(81,141)

 

Gemied Ltd

trading as Bull

(Registration number: 09188656)
Balance Sheet as at 31 August 2024

For the financial year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 31 March 2025 and signed on its behalf by:
 

.........................................
Mrs G King
Director

.........................................
Mr E King
Director

 
     
 

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1st Floor
143 Connaught Avenue
Frinton on Sea
Essex
CO13 9AB
England

These financial statements were authorised for issue by the Board on 31 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

10% Reducing balance

Furniture and fittings

20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

 

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 29 (2023 - 28).

 

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 September 2023

94,311

31,372

125,683

Additions

20,144

-

20,144

At 31 August 2024

114,455

31,372

145,827

Depreciation

At 1 September 2023

49,596

17,385

66,981

Charge for the year

17,031

1,399

18,430

At 31 August 2024

66,627

18,784

85,411

Carrying amount

At 31 August 2024

47,828

12,588

60,416

At 31 August 2023

44,715

13,987

58,702

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

20,055

19,741

6

Debtors

Current

2024
£

2023
£

Other debtors

51,324

108,956

 

51,324

108,956

 

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

8

38,846

62,708

Trade creditors

 

48,325

60,680

Taxation and social security

 

114,865

118,194

Accruals and deferred income

 

4,769

-

Other creditors

 

173,962

375

 

380,767

241,957

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £38,846 (2023 - £62,708).

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

8

8,129

22,953

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,129 (2023 - £22,953).

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

8,129

22,953

Current loans and borrowings

2024
£

2023
£

Bank borrowings

17,195

17,479

Bank overdrafts

6,768

-

Other borrowings

14,883

45,229

38,846

62,708