Registration number: 09188656

Gemied Ltd

trading as Bull

Contents

Balance Sheet	1 to 2
Notes to the Unaudited Financial Statements	3 to 6

Gemied Ltd

trading as Bull

(Registration number: 09188656)
Balance Sheet as at 31 August 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	4	46,524	60,416
Current assets
Stocks	5	17,055	20,055
Debtors	6	34,325	51,324
Cash at bank and in hand		23,954	21,750
		75,334	93,129
Creditors: Amounts falling due within one year	7	(490,296)	(380,767)
Net current liabilities		(414,962)	(287,638)
Total assets less current liabilities		(368,438)	(227,222)
Creditors: Amounts falling due after more than one year	7	-	(8,129)
Provisions for liabilities		(11,976)	(11,976)
Net liabilities		(380,414)	(247,327)
Capital and reserves
Called up share capital		2	2
Retained earnings		(380,416)	(247,329)
Shareholders' deficit		(380,414)	(247,327)

Gemied Ltd

trading as Bull

(Registration number: 09188656)
Balance Sheet as at 31 August 2025

For the financial year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act 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. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 25 March 2026 and signed on its behalf by:
 

......................................... Mrs G King Director

......................................... Mr E King Director

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
1ST Floor
143
Connaught Avenue
Frinton-On-Sea
Essex
CO13 9AB
United Kingdom

These financial statements were authorised for issue by the Board on 25 March 2026.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Plant and machinery	10% Reducing balance
Furniture and fittings	20% Straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 30 (2024 - 29).

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

4	Tangible assets

	Furniture, fittings and equipment  £	Plant and machinery £	Total £
Cost or valuation
At 1 September 2024	114,455	31,372	145,827
Additions	5,224	-	5,224
At 31 August 2025	119,679	31,372	151,051
Depreciation
At 1 September 2024	66,627	18,784	85,411
Charge for the year	17,857	1,259	19,116
At 31 August 2025	84,484	20,043	104,527
Carrying amount
At 31 August 2025	35,195	11,329	46,524
At 31 August 2024	47,828	12,588	60,416

5

Stocks

	2025 £	2024 £
Finished goods and goods for resale	17,055	20,055

6

Debtors

Current	2025 £	2024 £
Prepayments	20,325	-
Other debtors	14,000	51,324
	34,325	51,324

Gemied Ltd

trading as Bull

Notes to the Unaudited Financial Statements for the Year Ended 31 August 2025

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	8	43,894	38,846
Trade creditors		55,537	48,325
Taxation and social security		50,854	114,865
Accruals and deferred income		-	4,769
Other creditors		340,011	173,962
		490,296	380,767

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £38,846 (2023 - £62,708).

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	8	-	8,129

Creditors include bank loans and overdrafts and net obligations under finance lease and hire purchase contracts which are secured of £8,129 (2023 - £22,953).

8	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	8,129

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	10,778	17,195
Bank overdrafts	3,208	6,768
Other borrowings	29,908	14,883
	43,894	38,846