GEM Lending Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 11963375 (England and Wales)

Unaudited Financial Statements

for the Period 25 April 2019 to 30 April 2020

for

Gem Lending Limited

Page

Company Information

1

Chartered Certified Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mrs J Mace

Mr G E Mace

REGISTERED OFFICE:

The Old Coach House Chapel Lane

Ashby St Mary

Norwich

United Kingdom

NR14 7BA

REGISTERED NUMBER:

11963375 (England and Wales)

ACCOUNTANTS:

Steve Pye & Co.

Chartered Certified Accountants

Unit 8

Home Farm

Norwich Road

Norwich

Norfolk

NR10 5PQ

The following reproduces the text of the report prepared for the directors 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 Directors 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 Gem Lending Limited for the period ended 30 April 2020 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Gem Lending Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gem Lending Limited and state those matters that we have agreed to state to the Board of Directors of Gem Lending Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Gem Lending 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 Gem Lending Limited. You consider that Gem Lending Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the financial statements of Gem Lending 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.

Steve Pye & Co.

Chartered Certified Accountants

Unit 8

Home Farm

Norwich Road

Norwich

Norfolk

NR10 5PQ

9 January 2021

FIXED ASSETS

Investments

5

46,305

CURRENT ASSETS

Debtors

6

240

Cash at bank

248

488

CREDITORS

Amounts falling due within one year

7

47,718

NET CURRENT LIABILITIES

(47,230

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(925

)

CAPITAL AND RESERVES

Called up share capital

100

Retained earnings

(1,025

)

(925

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 30 April 2020.

The members have not required the company to obtain an audit of its financial statements for the period ended 30 April 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 January 2021 and were signed on its behalf by:

Mr G E Mace - Director

Mrs J Mace - Director

1.	STATUTORY INFORMATION

Gem Lending 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Taxation

Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 period 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 .

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

Additions

46,305

At 30 April 2020

46,305

NET BOOK VALUE

At 30 April 2020

46,305

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other debtors

240

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

£

Other creditors

47,718