| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Gemu Valves Limited |
| REGISTERED NUMBER: |
| Financial Statements |
| for the Year Ended 31 December 2024 |
| for |
| Gemu Valves Limited |
| Gemu Valves Limited (Registered number: 01567612) |
| Contents of the Financial Statements |
| for the year ended 31 December 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Gemu Valves Limited |
| Company Information |
| for the year ended 31 December 2024 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Certified Accountants |
| and Statutory Auditors |
| 8 Eastway |
| Sale |
| Manchester |
| M33 4DX |
| Gemu Valves Limited (Registered number: 01567612) |
| Balance Sheet |
| 31 December 2024 |
| 2024 | 2023 |
| Notes | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 7 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Gemu Valves Limited (Registered number: 01567612) |
| Notes to the Financial Statements |
| for the year ended 31 December 2024 |
| 1. | STATUTORY INFORMATION |
| Gemu Valves Limited is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| The financial statements are presented in GBP, which is the presentation and functional currency of the company. |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Turnover is recognised on dispatch of the goods, which is the point at which the risks and rewards of ownership transfer from the company to the customer. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Computer equipment | - |
| Tangible fixed assets are stated at cost, net of depreciation and any provision for impairment. Residual values of fixed assets are calculated on current prices which the assets would fetch in the open market if they were of the age and condition expected at the end of their useful economic lives. Profits or losses on disposal of fixed assets are included in the calculation of profit for the period. |
| At each balance sheet date, the directors review the useful lives and residual values of the company's assets and these are revised as necessary. Any revisions to useful lives and residual values are applied prospectively from the date of change. |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Stock is valued on a average cost basis. Cost comprises the purchase price plus any costs directly attributable in bringing stock to the location and condition intended by management. |
| Estimated selling price (net realisable value) is based on the prices available in the market in which a willing, knowledgeable and informed third party would offer in exchange for the goods. |
| Stocks are reviewed at each balance sheet date for evidence of obsolescence or damage and their estimated selling price less costs to complete and sell established. Where estimated selling price is lower than cost, a write-down takes place which is recognised in profit and loss. Slow-moving items are also reviewed at each balance sheet date for evidence that cost is lower than estimated selling price less costs to complete and sell. Where any write-downs, or additional write-downs, are required, these are recognised in profit and loss. |
| Gemu Valves Limited (Registered number: 01567612) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 2. | ACCOUNTING POLICIES - continued |
| Financial instruments |
| The company has elected to apply (where applicable) the provisions of FRS 102, Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments to all of its financial instruments. |
| Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. |
| Financial assets 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 instruments, which include trade and other debtors and bank balances, are initially measured at transaction price, including transaction costs, and are subsequently measured at amortised cost using the effective interest rate, unless the arrangement constitutes a financing transaction. Financing transactions are measured at the present value of the future receipts discounted using a market rate of interest. |
| Basic financial instruments, including trade and other creditors and accruals are initially recognised at transaction price unless the arrangement constitutes a financing transaction. Financing transactions are measured at the present value of the future payments discounted using a market rate of interest. |
| Debt instruments are subsequently measured at amortised cost using the effective interest method. |
| Equity instruments issued by the company are recorded at the fair value of the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. |
| 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. |
| Foreign currencies |
| Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Gemu Valves Limited (Registered number: 01567612) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Freehold | Plant and | and |
| property | machinery | fittings |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Reversal of write off | - | - | - |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Charge written back | - | - | - |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| Motor | Computer |
| vehicles | equipment | Totals |
| £ | £ | £ |
| COST |
| At 1 January 2024 |
| Additions |
| Reversal of write off | - | 1,800 | 1,800 |
| At 31 December 2024 |
| DEPRECIATION |
| At 1 January 2024 |
| Charge for year |
| Charge written back | - | 1,800 | 1,800 |
| At 31 December 2024 |
| NET BOOK VALUE |
| At 31 December 2024 |
| At 31 December 2023 |
| 5. | STOCKS |
| 2024 | 2023 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Other debtors |
| Prepayments |
| Gemu Valves Limited (Registered number: 01567612) |
| Notes to the Financial Statements - continued |
| for the year ended 31 December 2024 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade creditors |
| Tax |
| VAT | 392,777 | 252,344 |
| Other creditors |
| Due to group undertakings | 981,469 | 387,466 |
| Accruals & deferred income |
| 8. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2024 | 2023 |
| £ | £ |
| Within one year |
| Between one and five years |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2024 | 2023 |
| value: | £ | £ |
| Ordinary shares | £1 | 200,000 | 200,000 |
| 10. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 11. | CONTINGENCIES |
| The company has given a bank guarantee of £4,000 to HM Revenue and Customs. |
| 12. | PARENT COMPANY |
| The immediate parent undertaking is Gemu Holding AG (Ltd) a company incorporated in Switzerland. |
| The ultimate parent undertaking and the smallest and largest group to consolidate these financial statements is Gemu Holding Gmbh & Co KG, a limited partnership business entity incorporated in Germany. Copies of the consolidated accounts can be obtained from the Secretary at Fritz Muller Strasse 8, 74653 Ingelfingen, Germany. |