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REGISTERED NUMBER: 01470541 (England and Wales)



















Unaudited Financial Statements

for the Year Ended 30 September 2024

for

GEL Rides Limited

GEL Rides Limited (Registered number: 01470541)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEL Rides Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Mrs M Shelmerdine
D W Shelmerdine
Mrs Z Shelmerdine





SECRETARY: Mrs M Shelmerdine





REGISTERED OFFICE: Dale Works
Manners Industrial Estate
Ilkeston
Derbyshire
DE7 8EF





REGISTERED NUMBER: 01470541 (England and Wales)





ACCOUNTANTS: Bates Weston LLP
Chartered Accountants
The Mills
Canal Street
Derby
DE1 2RJ

GEL Rides Limited (Registered number: 01470541)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 105,099 107,799
Investments 5 9,500 9,500
114,599 117,299

CURRENT ASSETS
Debtors 6 - 3,290
Cash at bank 894 1,901
894 5,191
CREDITORS
Amounts falling due within one year 7 45,134 56,643
NET CURRENT LIABILITIES (44,240 ) (51,452 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,359

65,847

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Revaluation reserve 8 64,233 68,359
Retained earnings 8 4,126 (4,512 )
SHAREHOLDERS' FUNDS 70,359 65,847

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

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

The directors acknowledge their 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 and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 May 2025 and were signed on its behalf by:



D W Shelmerdine - Director


GEL Rides Limited (Registered number: 01470541)

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

1. STATUTORY INFORMATION

GEL Rides 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents net invoiced sales of services, excluding value added tax. Turnover is accounted for in the year in which the services are provided.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on revaluation
Fixtures and fittings - 20% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions paid in the year are charged in the profit and loss account.

Group accounts
In accordance with the exemptions given by the Companies Act 2006, the company has not produced group financial statements because it heads a small group.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Freehold and
property fittings Totals
£    £    £   
COST OR VALUATION
At 1 October 2023
and 30 September 2024 176,649 2,442 179,091
DEPRECIATION
At 1 October 2023 68,850 2,442 71,292
Charge for year 2,700 - 2,700
At 30 September 2024 71,550 2,442 73,992
NET BOOK VALUE
At 30 September 2024 105,099 - 105,099
At 30 September 2023 107,799 - 107,799

GEL Rides Limited (Registered number: 01470541)

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

4. TANGIBLE FIXED ASSETS - continued

Included in freehold property is freehold land of £41,649 (2023 : £41,649) which is not depreciated.

Cost or valuation at 30 September 2024 is represented by:

Fixtures
Freehold and
property fittings Totals
£    £    £   
Valuation in 1998 176,649 - 176,649
Cost - 2,442 2,442
176,649 2,442 179,091

If freehold property had not been revalued it would have been included at the following historical cost:

2024 2023
£    £   
Cost 40,069 40,069
Aggregate depreciation 15,750 15,250

Freehold property was valued on an open market basis basis on 31 March 1998 by the directors .

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 9,500
NET BOOK VALUE
At 30 September 2024 9,500
At 30 September 2023 9,500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 3,290

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors - 504
Amounts owed to related parties 45,134 46,529
Tax - 3,364
Other creditors - 91
Social security and other taxes - 4,180
Accruals and deferred income - 1,975
45,134 56,643

GEL Rides Limited (Registered number: 01470541)

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

8. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 October 2023 (4,512 ) 68,359 63,847
Profit for the year 229,823 229,823
Dividends (225,311 ) (225,311 )
Revaluation adjustment 4,126 (4,126 ) -
At 30 September 2024 4,126 64,233 68,359

9. RELATED PARTY DISCLOSURES

The property owned by GEL Rides Limited is given as security on the bank borrowings of Garmendale Engineering Limited, a company which has common directors.