1.
General Information
Gembo Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
08342476
. The registered office is 1 & 2 Studley Court Mews, Studley Court, Guildford Road, Chobham,Woking , England, GU24 8EB.
2.
Accounting Policies
2.1.
Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3.
Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible assets are .... It is amortised to the profit and loss account over its estimated economic life of .... years.
2.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Motor Vehicles |
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| Fixtures & Fittings |
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| Computer Equipment |
|
2.5.
Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.
3.
Average Number of Employees
Average number of employees, including directors, during the year was: 89 (2023: 110)
Gembo Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
4.
Intangible Assets
| Other | |||
|---|---|---|---|
| £ | |||
| Cost | |||
| As at 1 January 2024 |
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| As at 31 December 2024 |
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| Amortisation | |||
| As at 1 January 2024 |
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| As at 31 December 2024 |
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| Net Book Value | |||
| As at 31 December 2024 |
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| As at 1 January 2024 |
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5.
Tangible Assets
| Motor Vehicles | Fixtures & Fittings | Computer Equipment | Total | |
|---|---|---|---|---|
| £ | £ | £ | £ | |
| Cost | ||||
| As at 1 January 2024 |
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| Additions |
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| Disposals |
( |
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( |
| As at 31 December 2024 |
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| Depreciation | ||||
| As at 1 January 2024 |
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| Provided during the period |
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| Disposals |
( |
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( |
| As at 31 December 2024 |
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| Net Book Value | ||||
| As at 31 December 2024 |
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| As at 1 January 2024 |
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6.
Debtors
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Due within one year | |||
| Trade debtors |
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| Other debtors | 25,788 | 25,309 | |
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Gembo Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
7.
Creditors: Amounts Falling Due Within One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
|
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| Trade creditors |
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| Bank loans and overdrafts |
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| Other creditors | 65,695 | 30,486 | |
| Taxation and social security |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| Net obligations under finance lease and hire purchase contracts |
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| Bank loans BBL more than 1yr |
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9.
Obligations Under Finance Leases and Hire Purchase
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| The future minimum finance lease payments are as follows: | |||
| Not later than one year |
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| Later than one year and not later than five years |
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11.
Dividends
| 2024 | 2023 | ||
|---|---|---|---|
| £ | £ | ||
| On equity shares: | |||
| Interim dividend paid |
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| Final dividend paid |
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|
|
| 147,666 | 92,658 | ||
Gembo Limited
Notes to the Financial Statements (continued)
For The Year Ended 31 December 2024
12.
Reserves
|
Retained
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|
|
earnings
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|
£
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At 1 January 2024
|
71,395
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Profit for the year
|
160,425
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|
Dividends
|
(147,366)
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|
|
At 31 December 2024
|
84,454
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|
13.
Related Party Transactions
At the end of the year the director, Mr G Morris owed an amount of £1,349 (2023 : £2,751) to the company.
14.
Ultimate Controlling Party
The company's ultimate controlling party is Mr G Morris by virtue of his ownership of 100% of the issued share capital in the company.