Gemshaw Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11674783 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Gemshaw Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

A Mussarat

Mrs C Allen

B G Eades

D W Tracey

REGISTERED OFFICE:

Universal Square

Building 2

3rd Floor

Devonshire Street North

Manchester

M12 6JH

REGISTERED NUMBER:

11674783 (England and Wales)

ACCOUNTANTS:

Uppal & Warr

Chartered Accountants

452 Manchester Road

Heaton Chapel

Stockport

SK4 5DL

CURRENT ASSETS

Stocks

4,024,113

3,674,113

Debtors

4

55,686

3,087

Cash at bank and in hand

4,420,348

65,147

8,500,147

3,742,347

CREDITORS

Amounts falling due within one year

5

7,504,798

1,150,127

NET CURRENT ASSETS

995,349

2,592,220

TOTAL ASSETS LESS CURRENT LIABILITIES

995,349

2,592,220

CREDITORS

Amounts falling due after more than one year

6

3,339,894

2,914,894

NET LIABILITIES

(2,344,545

)

(322,674

)

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

(2,344,645

)

(322,774

)

SHAREHOLDERS' FUNDS

(2,344,545

)

(322,674

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 11 December 2023 and were signed on its behalf by:

Mrs C Allen - Director

1.	STATUTORY INFORMATION

Gemshaw 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.

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 3 (2022 - 3 ) .

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Net service chargers

16,032

-

Associated company loan

11

11

VAT

33,151

-

Prepayments

6,492

3,076

55,686

3,087

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Trade creditors

2,991

930

VAT

-

12,345

Other creditors

-

95,089

Associated company loans

5,573,989

998,631

Deferred income

-

3,076

Accrued expenses

1,927,818

40,056

7,504,798

1,150,127

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans

3,339,894

2,914,894

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

100

Ordinary

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 April 2022

(322,774

)

Deficit for the year

(2,021,871

)

At 31 March 2023

(2,344,645

)