GEM Lending Limited

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—5

Registered number: 11963375

		2026		2025
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		12,624		16,468
Investments	5		35,000		50,000

			47,624		66,468
CURRENT ASSETS
Debtors	6	75,001		66,501
Investments	7	1,772		33
Cash at bank and in hand		2,080		2,499

		78,853		69,033
Creditors: Amounts Falling Due Within One Year	8	(128,912 )		(144,437 )

NET CURRENT ASSETS (LIABILITIES)			(50,059 )		(75,404 )

TOTAL ASSETS LESS CURRENT LIABILITIES			(2,435 )		(8,936 )

PROVISIONS FOR LIABILITIES
Deferred Taxation			(2,399 )		(3,129 )

NET LIABILITIES			(4,834 )		(12,065 )

CAPITAL AND RESERVES
Called up share capital	9		100		100
Income Statement			(4,934 )		(12,165 )

SHAREHOLDERS' FUNDS			(4,834)		(12,065)

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GEM Lending Limited

Statement of Financial Position (continued)

As At 30 April 2026

For the year ending 30 April 2026 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Income Statement.

On behalf of the board

Mr Graham Mace

Director

30 June 2026

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

GEM Lending Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11963375 . The registered office is The Old Coach House Chapel Lane, Ashby St Mary, Norwich, Norfolk, NR14 7BA. The presentation currency of the financial statements is the Pound Sterling (£).

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 investment income. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

2.3. 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	25% Reducing Balance
Fixtures & Fittings	25% Straight Line

2.4. Financial Instruments

The company enters into basic financial instruments that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties and loans to related parties.

a) Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method, less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases, the receivables are stated at cost less impairment losses for bad and doubtful debts.

b) Cash and cash equivalents

Cash and cash equivalents comprise cash at bank and in hand.

c) Impairment of financial assets

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and the best estimate, which is an approximation, of the amount that the company would receive for the asset if it were to be sold at the reporting date.

d) Trade and other creditors

Debt instruments like loans and other accounts payable are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable within one year, typically trade payables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset is measured, initially and subsequently, at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Financial assets and liabilities are offset and the net amount reported in the statement of financial position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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GEM Lending Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 2 (2025: 2)

4. Tangible Assets

	Motor Vehicles	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 May 2025	50,768	657	51,425
Additions	-	409	409

As at 30 April 2026	50,768	1,066	51,834

Depreciation
As at 1 May 2025	34,705	252	34,957
Provided during the period	4,016	237	4,253

As at 30 April 2026	38,721	489	39,210

Net Book Value
As at 30 April 2026	12,047	577	12,624

As at 1 May 2025	16,063	405	16,468

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GEM Lending Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 April 2026

5. Investments

	Unlisted
	£
Cost or Valuation
As at 1 May 2025	50,000
Disposals	(15,000 )

As at 30 April 2026	35,000

Provision
As at 1 May 2025	-

As at 30 April 2026	-

Net Book Value
As at 30 April 2026	35,000

As at 1 May 2025	50,000

6. Debtors

	2026	2025
	£	£
Due within one year
Other debtors	75,001	66,501

7. Current Asset Investments

	2026	2025
	£	£
Other investments, held for sale	1,772	33

8. Creditors: Amounts Falling Due Within One Year

	2026	2025
	£	£
Other creditors	125,297	144,429
Taxation and social security	3,615	8

	128,912	144,437

9. Share Capital

	2026	2025
	£	£
Allotted, Called up and fully paid	100	100

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