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Registered Number: 08883227
England and Wales

 

 

 

GEMSTAGE LTD



Abridged Accounts
 


Period of accounts

Start date: 01 April 2024

End date: 31 March 2025

Gemstage Ltd
Contents Page
For the year ended 31 March 2025
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gemstage Ltd for the year ended 31 March 2025 which comprise the income statement, the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given to us.

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 financial statements.

This report is made solely to the Board of directors of Gemstage Ltd, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Gemstage Ltd and state those matters that we have agreed to state to the Board of directors of Gemstage Ltd.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gemstage Ltd and its Board of directors, as a body, for our work or for this report.

It is your duty to ensure that Gemstage Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the company's assets, liabilities, financial position and profit . You consider that Gemstage Ltd is exempt from the statutory audit requirement for the year.



....................................................
Russell Accounting
Creative Media Centre
45 Robertson St
Hastings
East Sussex
TN34 1HL
23 December 2025
1
 
 		 Notes
 		 2025
£		   2024
£
Fixed assets      
Tangible fixed assets 3 395,063    397,250 
395,063    397,250 
Current assets      
Stocks -    5,278 
Debtors 20,662    18,649 
Cash at bank and in hand 75,292    63,965 
95,954    87,892 
Creditors: amount falling due within one year (22,185)   (14,114)
Net current assets 73,769    73,778 
 
Total assets less current liabilities 468,832    471,028 
Creditors: amount falling due after more than one year (205,724)   (226,570)
Net assets 263,108    244,458 
 

Capital and reserves 		     
Called up share capital 1    1 
Profit and loss account 263,107    244,457 
Shareholders' funds 263,108    244,458 
 


For the year ended 31 March 2025 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 23 December 2025 and were signed by:


-------------------------------
Mr E Gifford
Director
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General Information
Gemstage Ltd is a private company, limited by shares, registered in England and Wales, registration number 08883227, registration address 8 Willow Business Park, 61-71 Willow Way, London, SE26 4QP.

The presentation currency is £ sterling.
1.

Accounting policies

Basis of preparation
Statement of compliance These financial statements have been prepared in compliance with FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. Basis of preparation The financial statements have been prepared on the going concern basis and under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company.
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 is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, net of discounts and value added taxes.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.

Current taxation
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The companys liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.

Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated capital and reserves in respect of that asset, the excess is recognised in profit or loss.


Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over the useful lives on the following basis:
Land and Buildings 0 Reducing Balance
Plant and Machinery 25% Reducing Balance
Computer Equipment 25% Reducing Balance
Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
2.

Average number of employees

Average number of employees during the year was 1 (2024 : 1).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Computer Equipment   Total
  £   £   £   £
At 01 April 2024 388,500    1,767    23,112    413,379 
Additions -    -    -    - 
Disposals -    -    -    - 
At 31 March 2025 388,500    1,767    23,112    413,379 
Depreciation
At 01 April 2024 -    773    15,356    16,129 
Charge for year -    248    1,939    2,187 
On disposals -    -    -    - 
At 31 March 2025 -    1,021    17,295    18,316 
Net book values
Closing balance as at 31 March 2025 388,500    746    5,817    395,063 
Opening balance as at 01 April 2024 388,500    994    7,756    397,250 


3