Gemset of Broadstairs Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05215192 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2025

FOR

GEMSET OF BROADSTAIRS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Accountants' Report

7

DIRECTOR:

M D Wilson (deceased)

REGISTERED OFFICE:

42A High Street

Broadstairs

Kent

CT10 1JT

REGISTERED NUMBER:

05215192 (England and Wales)

ACCOUNTANTS:

Kemps Accounting Solutions Limited

42A High Street

Broadstairs

Kent

CT10 1JT

FIXED ASSETS

Intangible assets

4

1

Tangible assets

5

28,959

29,494

28,960

29,495

CURRENT ASSETS

Stocks

5,000

6,000

Cash in hand

63

5,063

6,063

CREDITORS

Amounts falling due within one year

6

31,564

21,042

NET CURRENT LIABILITIES

(26,501

)

(14,979

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,459

14,516

CREDITORS

Amounts falling due after more than one
year

7

-

6,999

NET ASSETS

2,459

7,517

CAPITAL AND RESERVES

Called up share capital

1

Retained earnings

2,458

7,516

SHAREHOLDERS' FUNDS

2,459

7,517

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company 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 relating to financial statements, so far as applicable to the company.

The 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.

The financial statements were approved by the director and authorised for issue on 9 October 2026 and were signed by:

Ms C B Rata - Director

1.	STATUTORY INFORMATION

Gemset of Broadstairs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company 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 Companies Act 2006. 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Long leasehold

-

Straight line over 50 years

Fixtures and Fittings

-

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.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2024 - 2 ).

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2024

and 30 November 2025

12,000

AMORTISATION

At 1 December 2024

and 30 November 2025

11,999

NET BOOK VALUE

At 30 November 2025

1

At 30 November 2024

1

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 1 December 2024

and 30 November 2025

40,150

740

40,890

DEPRECIATION

At 1 December 2024

10,657

739

11,396

Charge for year

535

-

535

At 30 November 2025

11,192

739

11,931

NET BOOK VALUE

At 30 November 2025

28,958

1

28,959

At 30 November 2024

29,493

1

29,494

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.11.25

30.11.24

£

Bank loans and overdrafts

2,961

5,925

Taxation and social security

8,382

6,356

Other creditors

20,221

8,761

31,564

21,042

The Barclays commercial loan was repaid by funds received from an unknown entity 'MLS Goucester' and the director appointed by the Executors of the late Mr M WIlson continues to make enquirers with Barclays to identify the legal entity that provided these funds.

The outstanding figure, being the amount that fully redeemed the Barclays loan, of £11,019 is included in other creditors.

It is noted that the Barclays loan was secured by a legal charge over 31 Albion Street, Broadstairs, Kent CT10 1LU (Debenture on Bank's standard form), with an interest rate 3.6% above Barclays Base Rate and this charge has an unsatisfied status showing at Companies House.

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

30.11.25

30.11.24

£

Bank loans

-

6,999

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Gemset of Broadstairs Limited for the year ended 30 November 2025 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the director of Gemset of Broadstairs Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gemset of Broadstairs Limited and state those matters that we have agreed to state to the director of Gemset of Broadstairs Limited in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its director for our work or for this report.

It is your duty to ensure that Gemset of Broadstairs Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Gemset of Broadstairs Limited. You consider that Gemset of Broadstairs Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Gemset of Broadstairs Limited. For this reason, 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.

Kemps Accounting Solutions Limited

42A High Street

Broadstairs

Kent

CT10 1JT

Date: .............................................