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Registered Number: 13795173
England and Wales

 

 

 

GEME PROPERTY SOLUTIONS LTD



Unaudited Financial Statements
 


Period of accounts

Start date: 01 January 2024

End date: 31 December 2024

Geme Property Solutions Ltd
Contents Page
For the year ended 31 December 2024
Director Gareth Peter Mccullough
Registered Number 13795173
Registered Office 6 Blenheim Court
Peppercorn Close
Peterborough
Cambridgeshire
PE1 2DU
Accountants aa Chartered Accountants
6 Blenheim Court
Peppercorn Close
Peterborough
PE1 2DU
1
Director's report and financial statements
The director presents his/her/their annual report and the financial statements for the year ended 31 December 2024
Principal activities
Principal activity of the company during the financial year was of Buying and selling of own real estate and letting and operating of own or leased real estate.
Director
The director who served the company throughout the year was as follows:
Gareth Peter Mccullough
Statement of director's responsibilities
The director is responsible for preparing the directors’ report and the financial statements in accordance with applicable law and regulation.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to
  • select suitable accounting policies and then apply them consistently
  • make judgments and accounting estimates that are reasonable and prudent
  • prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business


The director is responsible for keeping adequate accounting records that disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. The director is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

The director is responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements may differ from legislation in other jurisdictions.

On behalf of the board.


----------------------------------
Gareth Peter Mccullough
Director

Date approved: 11 September 2025
2
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Geme Property Solutions Ltd for the year ended 31 December 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Geme Property Solutions Ltd for the year ended 31 December 2024 which comprise of the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the companys accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/members/regulations-standards-and-guidance

This report is made solely to the Board of Directors of Geme Property Solutions Ltd , as a body, in accordance with the terms of our engagement letter dated 11 September 2025. Our work has been undertaken solely to prepare for your approval the accounts of Geme Property Solutions Ltd and state those matters that we have agreed to state to the Board of Directors of Geme Property Solutions Ltd , as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Geme Property Solutions Ltd and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Geme Property Solutions Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Geme Property Solutions Ltd. You consider that Geme Property Solutions Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Geme Property Solutions Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts for the period ended
31 December 2024



....................................................
aa Chartered Accountants
6 Blenheim Court
Peppercorn Close
Peterborough
PE1 2DU
11 September 2025
3
 
 		 Notes
 		 2024
£		   2023
£
Turnover 136,088    58,008 
Cost of sales (14,534)   (4,130)
Gross profit 121,554    53,878 
Administrative expenses (81,473)   (68,614)
Operating profit/(loss) 40,081    (14,736)
Interest payable and similar charges (4,991)   (4,564)
Profit/(Loss) on ordinary activities before taxation 35,090    (19,300)
Tax on profit on ordinary activities (2,086)   0 
Profit/(Loss) for the financial year 33,004    (19,300)
 
4
 
 		 Notes
 		 2024
£		   2023
£
Fixed assets      
Tangible fixed assets 3 2,178,399    1,844,689 
2,178,399    1,844,689 
Current assets      
Debtors 4 3,623    2,050 
Cash at bank and in hand 207,272    1,737 
210,895    3,787 
Creditors: amount falling due within one year 5 (2,224,488)   (1,718,119)
Net current assets (2,013,593)   (1,714,332)
 
Total assets less current liabilities 164,806    130,357 
Creditors: amount falling due after more than one year 6 (154,712)   (154,712)
Provisions for liabilities 7 (1,445)   0 
Net assets 8,649    (24,355)
 

Capital and reserves 		     
Called up share capital 8 2    2 
Profit and loss account 8,647    (24,357)
Shareholders' funds 8,649    (24,355)
 


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

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 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. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 11 September 2025 and were signed by:


-------------------------------
Gareth Peter Mccullough
Director
5
  Equity share capital   Retained Earnings   Total
£ £ £
At 01 January 2023 2  (5,057) (5,055)
Profit for the year (19,300) (19,300)
Total comprehensive income for the year -  (19,300) (19,300)
Total investments by and distributions to owners -  -  - 
At 31 December 2023 2  (24,357) (24,355)
At 01 January 2024 2  (24,357) (24,355)
Profit for the year 33,004  33,004 
Total comprehensive income for the year -  33,004  33,004 
Total investments by and distributions to owners -  -  - 
At 31 December 2024 2  8,647  8,649 
6
General Information
Geme Property Solutions Ltd is a private company, limited by shares, registered in England and Wales, registration number 13795173, registration address 6 Blenheim Court, Peppercorn Close, Peterborough, Cambridgeshire, PE1 2DU.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Going concern basis
The directors believe that the company is experiencing good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 25% Reducing Balance
Computer Equipment 33% Reducing Balance
Investment properties
Investment properties are properties held to earn rentals and/or for capital appreciation.
Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
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 instruments.
Financial instruments are recognised in the company's balance sheet 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.
2.

Average number of employees including directors

Average number of employees during the year was 1 (2023 : 1).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Computer Equipment   Investment properties   Total
  £   £   £   £
At 01 January 2024 -    -    1,844,689    1,844,689 
Additions 9,600    608    326,103    336,311 
Disposals -    -    -    - 
At 31 December 2024 9,600    608    2,170,792    2,181,000 
Depreciation
At 01 January 2024 -    -    -    - 
Charge for year 2,400    201    -    2,601 
On disposals -    -    -    - 
At 31 December 2024 2,400    201    -    2,601 
Net book values
Closing balance as at 31 December 2024 7,200    407    2,170,792    2,178,399 
Opening balance as at 01 January 2024 -    -    1,844,689    1,844,689 


4.

Debtors: amounts falling due within one year

2024
£		   2023
£
Prepayments & Accrued Income 3,623    2,050 
3,623    2,050 

5.

Creditors: amount falling due within one year

2024
£		   2023
£
Trade Creditors 9,450    0 
Amounts Owed to Participating Interests 1,520,000    520,000 
Amounts owed to Shareholders 688,000    1,180,000 
Corporation Tax 641    0 
Accrued Expenses 2,520    10,826 
Directors' Current Accounts 3,877    7,293 
2,224,488    1,718,119 

6.

Creditors: amount falling due after more than one year

2024
£		   2023
£
Bank Loans & Overdrafts (secured) 154,712    154,712 
154,712    154,712 

7.

Provisions for liabilities

2024
£		   2023
£
Deferred Tax 1,445    0 
1,445    0 

8.

Share Capital

Authorised
2 Class A shares of £1.00 each
Allotted, called up and fully paid
2024
£		   2023
£
2 Class A shares of £1.00 each 2    2 
2    2 

9.

Director’s loan

Directors current account

During the year Company owed £13,646 (2023: £7,293) to the directors. This is an interest free loan and repayable on demand.
10.

Bank loans (secured)

The bank loans are secured on freehold properties of the Company with a carrying value £220,127. (2023: £220,127)
The loans are interest only and bear interest at initial fixed rates of 2.92% and 2.99% per annum. The loans
are both repayable in 2042.
11.

Amounts owed to related parties and shareholders

During the year Company owed to Serenity School Eltham Ltd : £795,000 (2023: £345,000)
During the year Company owed to Serenity School Crawley Ltd: £475,000 (£175,000)
During the year Company owed to Serenity Tuition Services Ltd: £150,000
During the year Company owed to Serenity School Coulsdon Ltd: £100,000
During the year Company owed to Shareholders: £688,000 (2023: £1,180,000)

Amounts owed to related parties and shareholders are unsecured, interest free and have no fixed date for repayment.
12.

Accounting judgements

The director believes that there is no material difference between the purchase price and the fair value price of the investment properties therefore no valuation has been carried out as at 31st December 2024.
7