GEM_Holdings_(York)_Limit - Accounts

GEM HOLDINGS (YORK) LIMITED - Company Information

Print Friendly Version

Company Registration No. 07968336 (England and Wales)

GEM Holdings (York) Limited

Abbreviated Accounts

For The Year Ended 30 June 2016

GEM HOLDINGS (YORK) LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

GEM HOLDINGS (YORK) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

30 JUNE 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

36,574

38,450

Investments

20,100

56,674

58,550

Current assets

Stocks

160,564

61,906

Debtors

325,301

169,169

Cash at bank and in hand

12,698

11,711

498,563

242,786

Creditors: amounts falling due within one year

(341,395)

(138,933)

Net current assets

157,168

103,853

Total assets less current liabilities

213,842

162,403

Creditors: amounts falling due after more than one year

(97,159)

(143,918)

Provisions for liabilities

(1,000)

115,683

18,485

Capital and reserves

Called up share capital

10,000

Profit and loss account

105,683

8,485

Shareholders' funds

115,683

18,485

GEM HOLDINGS (YORK) LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 JUNE 2016

- 2 -

For the financial year ended 30 June 2016 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 financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 14 December 2016

Mr M A J Green

Director

Company Registration No. 07968336

GEM HOLDINGS (YORK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 JUNE 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.3

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

15% reducing balance

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Stock and work in progress

Work in progress is valued at the lower of cost and net realisable value.

1.7

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

GEM HOLDINGS (YORK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 July 2015

122,205

20,100

142,305

Additions

18,998

Disposals

(29,870)

At 30 June 2016

111,333

20,100

131,433

Depreciation

At 1 July 2015

83,755

On disposals

(17,074)

Charge for the year

8,078

At 30 June 2016

74,759

Net book value

At 30 June 2016

36,574

20,100

56,674

At 30 June 2015

38,450

20,100

58,550

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

GEM Construction & Shopfitting Limited

England & Wales

Ordinary

100.00

Lanstone Conservation Limited

England & Wales

Ordinary

40.00

GEM Construction (York) Limited

England & Wales

Ordinary

100.00

GEM HOLDINGS (YORK) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 30 JUNE 2016

Fixed assets

(Continued)

- 5 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

GEM Construction & Shopfitting Limited

Building and shopfitting contractors and property development

36,236

19,233

Lanstone Conservation Limited

Stonemasonary and construction

46,218

25,722

GEM Construction (York) Limited

Building contractor

94,232

121,156

The results for Lanstone Conservation Limited and GEM Construction (York) Limited represent the capital and profits for the year ended 31 March 2016.

Share capital

2016

2015

Allotted, called up and fully paid

5,000 'A' Ordinary of £1 each

5,000

2,500 'B' Ordinary of £1 each

2,500

1,500 'C' Ordinary of £1 each

1,500

1,000 'D' Ordinary of £1 each

1,000

10,000

Related party relationships and transactions

Loans with directors

The following directors had interest free loans during the year. The movement on these loans is as follows:

Description

% Rate

Opening Balance

Amounts Advanced

Interest Charged

Amounts Repaid

Closing Balance

Mr M A J & Mrs W A Green

3.00

(2,760)

87,200

1,425

(84,420)

1,445

Mr J P M Wong

3.00

40,813

678

(42,985)

(1,494)

(2,760)

128,013

2,103

(127,405)

(49)