Gemmill Bros Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 09173568

Gemmill Bros Limited

Filleted Unaudited Financial Statements

30 September 2025

Gemmill Bros Limited

Statement of Financial Position

30 September 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6	323,870	301,709
Investments	7	141,963	132,360
		---------	---------
		465,833	434,069

Current assets

Stocks		273,773	353,361
Debtors	8	235,101	226,503
Cash at bank and in hand		43,496	163,207
		---------	---------
		552,370	743,071

Creditors: amounts falling due within one year	9	357,653		437,428
		---------		---------
Net current assets			194,717	305,643
			---------	---------
Total assets less current liabilities			660,550	739,712

Creditors: amounts falling due after more than one year	10		187,763	216,728

Provisions

Taxation including deferred tax	33,963	26,251
	---------	---------
Net assets	438,824	496,733
	---------	---------

Capital and reserves

Called up share capital	50,000	50,000
Profit and loss account	388,824	446,733
	---------	---------
Shareholder funds	438,824	496,733
	---------	---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 30 September 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

- The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;

- The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Gemmill Bros Limited

Statement of Financial Position (continued)

30 September 2025

These financial statements were approved by the board of directors and authorised for issue on 26 May 2026 , and are signed on behalf of the board by:

Mrs D L Gemmill
Director

Company registration number: 09173568

Gemmill Bros Limited

Notes to the Financial Statements

Year ended 30 September 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Elms House, Dairy Lane, Stansted, Essex, CM24 8XH, England.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the 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.

Goodwill

Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.

Amortisation

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

	Goodwill	-	25% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts 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 equity, except to the extent 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 equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Land Development	-	15% reducing balance
Plant and Machinery	-	15% reducing balance
Motor Vehicles	-	25% reducing balance
Agricultural Buildings	-	3% straight line

Investments

Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.

Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.

Investments in joint ventures

Investments in jointly controlled entities accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in jointly controlled entities accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the joint venture arising before or after the date of acquisition.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.

Stocks

Stocks are measured 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 stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 1 (2024: 1 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 October 2024 and 30 September 2025	1
	----
Amortisation
At 1 October 2024 and 30 September 2025	1
	----
Carrying amount
At 30 September 2025	–
	----
At 30 September 2024	–
	----

6. Tangible assets

	Land Development	Plant and machinery	Motor vehicles	Agricultural Buildings	Total
	£	£	£	£	£
Cost
At 1 October 2024	12,789	183,620	66,090	237,131	499,630
Additions	–	56,000	44,070	–	100,070
Disposals	–	( 46,925)	( 59,090)	–	( 106,015)
	--------	---------	--------	---------	---------
At 30 September 2025	12,789	192,695	51,070	237,131	493,685
	--------	---------	--------	---------	---------
Depreciation
At 1 October 2024	10,213	115,669	38,209	33,830	197,921
Charge for the year	387	16,026	11,756	7,114	35,283
Disposals	–	( 29,227)	( 34,162)	–	( 63,389)
	--------	---------	--------	---------	---------
At 30 September 2025	10,600	102,468	15,803	40,944	169,815
	--------	---------	--------	---------	---------
Carrying amount
At 30 September 2025	2,189	90,227	35,267	196,187	323,870
	--------	---------	--------	---------	---------
At 30 September 2024	2,576	67,951	27,881	203,301	301,709
	--------	---------	--------	---------	---------

7. Investments

	Other investments other than loans
	£
Cost
At 1 October 2024	132,360
Additions	15,025
Share of profit/(loss)	( 5,422)
	---------
At 30 September 2025	141,963
	---------
Impairment
At 1 October 2024 and 30 September 2025	–
	---------

Carrying amount
At 30 September 2025	141,963
	---------
At 30 September 2024	132,360
	---------

The company holds a 33.3% interest in a Joint Venture: Gilston Crop Management LLP

The main activity of Gilston Crop Management LLP is Agricultural Contracting

Net assets at 30 September 2025 £410,793

Net loss for the year ended 5 April 2025 £16,268

The company holds 1 share in a friendly society costing £10

The company holds one share in a second friendly society costing £25

8. Debtors

	2025	2024
	£	£
Trade debtors	206,628	221,509
Other debtors	28,473	4,994
	---------	---------
	235,101	226,503
	---------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	28,170	27,801
Trade creditors	65,252	45,109
Corporation tax	–	10,027
Other creditors	264,231	354,491
	---------	---------
	357,653	437,428
	---------	---------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	187,763	216,728
	---------	---------

Included within creditors: amounts falling due after more than one year is an amount of £90,960 (2024: £104,058) in respect of liabilities payable or repayable by instalments which fall due for payment after more than five years from the reporting date.

Secured bank loan 2 is repayable by instalments in over 5 years at a fixed interest rate of 3.53%

The Bank Loans are secured by a personal guarantee from the director.

11. Financial instruments

The carrying amount for each category of financial instrument is as follows:

	2025	2024
	£	£

Financial liabilities measured at amortised cost

Financial liabilities measured at amortised cost	215,933	244,529
	---------	---------