REGISTERED NUMBER: OC430811 (England and Wales)

Report of the Members and

Unaudited Financial Statements

For The Year Ended

31 March 2025

for

Gemco News 'N' Food LLP

Page

General Information

1

Report of the Members

2

Income Statement

3

Balance Sheet

4

Notes to the Financial Statements

6

DESIGNATED MEMBERS:

Mr Andrew William Thurston

Mrs Lynn Thurston

REGISTERED OFFICE:

12 Queens Road

BRAINTREE

Essex

CM7 5UA

REGISTERED NUMBER:

OC430811 (England and Wales)

ACCOUNTANT:

Alison Hurrell Limited

Unit 6, Cherry Tree Farm

Blackmore End Road

Sible Hedingham

Essex

CO9 3LZ

The members present their report with the financial statements of the LLP for the year ended 31 March 2025.

PRINCIPAL ACTIVITY

The principal activity of the LLP in the year under review was that of a newsagents.

DESIGNATED MEMBERS

The designated members during the year under review were:

Mr Andrew William Thurston

Mrs Lynn Thurston

RESULTS FOR THE YEAR AND ALLOCATION TO MEMBERS

The profit for the year before members' remuneration and profit shares was £30,332 (2024 - £23,255 profit).

MEMBERS' INTERESTS

ON BEHALF OF THE MEMBERS:

Mr Andrew William Thurston - Designated member

14 July 2025

TURNOVER

604,953

704,059

Cost of sales

395,103

478,272

GROSS PROFIT

209,850

225,787

Administrative expenses

179,528

202,546

OPERATING PROFIT

4

30,322

23,241

Interest receivable and similar income

10

14

PROFIT FOR THE FINANCIAL YEAR BEFORE MEMBERS' REMUNERATION AND PROFIT SHARES AVAILABLE FOR DISCRETIONARY DIVISION AMONG MEMBERS

30,332

23,255

FIXED ASSETS

Tangible assets

5

10,553

12,357

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

6

22,242

23,829

Cash at bank and in hand

79,292

62,281

121,534

106,110

CREDITORS

Amounts falling due within one year

7

18,240

7,418

NET CURRENT ASSETS

103,294

98,692

TOTAL ASSETS LESS CURRENT LIABILITIES

113,847

111,049

CREDITORS

Amounts falling due after more than one year

8

23,618

23,618

NET ASSETS ATTRIBUTABLE TO MEMBERS

90,229

87,431

LOANS AND OTHER DEBTS DUE TO MEMBERS

9

90,229

87,431

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

9

90,229

87,431

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2025.

The members acknowledge their responsibilities for:

(a)	ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

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

The financial statements were approved by the members of the LLP and authorised for issue on 14 July 2025 and were signed by:

Mr Andrew William Thurston - Designated member

Mrs Lynn Thurston - Designated member

1.	STATUTORY INFORMATION

Gemco News 'N' Food LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3.	EMPLOYEE INFORMATION

The average number of employees during the year was 21 (2024 - 23 ) .

4.	OPERATING PROFIT

The operating profit is stated after charging:

Period

1.3.23

Year Ended

to

31.3.25

31.3.24

£

£

Depreciation - owned assets

2,557

3,097

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2024

78,748

Additions

1,071

Disposals

(1,085

)

At 31 March 2025

78,734

DEPRECIATION

At 1 April 2024

66,391

Charge for year

2,557

Eliminated on disposal

(767

)

At 31 March 2025

68,181

NET BOOK VALUE

At 31 March 2025

10,553

At 31 March 2024

12,357

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

12,884

13,106

Other debtors

9,358

10,723

22,242

23,829

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

16,320

5,609

Taxation and social security

775

799

Other creditors

1,145

1,010

18,240

7,418

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Other creditors

23,618

23,618

9.

LOANS AND OTHER DEBTS DUE TO MEMBERS

There are no restrictions.