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REGISTERED NUMBER: 09304255 (England and Wales)














Financial Statements

for the Year Ended 31st December 2024

for

Gem Scientific 2014 Limited

Gem Scientific 2014 Limited (Registered number: 09304255)






Contents of the Financial Statements
for the year ended 31st December 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


Gem Scientific 2014 Limited

Company Information
for the year ended 31st December 2024







DIRECTORS: N. A. Bewell
J. J. R. Chapman
I. A. Roulstone
J. Welton



REGISTERED OFFICE: Orchard House
The Square
Hessle
East Yorkshire
HU13 0AE



REGISTERED NUMBER: 09304255 (England and Wales)



AUDITORS: Sadofskys
Statutory Auditors
Princes House
Wright Street
Hull
East Yorkshire
HU2 8HX



BANKERS: Natwest Bank
1 Victoria Place
Holbeck
Leeds
LS11 5AN

Gem Scientific 2014 Limited (Registered number: 09304255)

Abridged Balance Sheet
31st December 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Investments 4 3,474,554 3,474,554

CURRENT ASSETS
Cash at bank 4,910 5,001

CREDITORS
Amounts falling due within one year 3,906,079 4,356,079
NET CURRENT LIABILITIES (3,901,169 ) (4,351,078 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(426,615

)

(876,524

)

CAPITAL AND RESERVES
Called up share capital 5 47,750 47,750
Retained earnings (474,365 ) (924,274 )
SHAREHOLDERS' FUNDS (426,615 ) (876,524 )

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31st December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th March 2025 and were signed on its behalf by:





N. A. Bewell - Director


Gem Scientific 2014 Limited (Registered number: 09304255)

Notes to the Financial Statements
for the year ended 31st December 2024

1. STATUTORY INFORMATION

Gem Scientific 2014 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries
Interest in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

A subsidiary is an entity controlled by the company. Control is the power given to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

Gem Scientific 2014 Limited (Registered number: 09304255)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial statements.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

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.

Gem Scientific 2014 Limited (Registered number: 09304255)

Notes to the Financial Statements - continued
for the year ended 31st December 2024

2. ACCOUNTING POLICIES - continued

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

Information on investments other than loans is as follows:
Totals
£   
COST
At 1st January 2024
and 31st December 2024 3,474,554
NET BOOK VALUE
At 31st December 2024 3,474,554
At 31st December 2023 3,474,554

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
47,750 Ordinary £1 47,750 47,750

6. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Alan Brocklehurst (Senior Statutory Auditor)
for and on behalf of Sadofskys

7. ULTIMATE PARENT AND CONTROLLING PARTY

The ultimate controlling party is LBO France, a company registered in France (RCS Strasbourg Reg. No. 418354502). The immediate parent company is SLS Group Limited, a company registered in England and Wales (Reg. No. 03743859).

The parent of the largest group for which consolidated financial statements are drawn up is Dutscher Holding. Copies of the consolidated accounts can be obtained from 2C, Rue De Bruxelles, 67170, Bernolsheim, France.

The parent of the smallest group for which consolidated financial statements are drawn up is Scientific Laboratory Supplies Group Limited, whose registered office address is Orchard House, The Square, Hessle, United Kingdom, HU13 0AE.

Dutscher Holding SAS (incorporated in France) is regarded by the directors as being the company's ultimate parent company (RCS Strasbourg Reg. No. 882634660).