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Registered Number: OC435891
England and Wales
TLM GEMINI LLP
Abridged Accounts
Period of accounts Start date: 01 April 2022 End date: 31 March 2023

TLM GEMINI LLP Contents Page For the year ended 31 March 2023
Statement of financial position | 1
Notes to the financial statements | 2

TLM GEMINI LLP Statement of Financial Position As at 31 March 2023
| Notes | 2023 £ |  | 2022 £ (as restated)
--- | --- | --- | --- | ---
Fixed assets |  |  |
Tangible fixed assets | 3 | 4,530,000 |  | 10,020,537
|  | 4,530,000 |  | 10,020,537
Current assets |  |  |
Debtors |  | 279,166 |  | 243,803
Cash at bank and in hand |  | 3,285,220 |  | 199,250
|  | 3,564,386 |  | 443,053
Creditors: amount falling due within one year |  | (244,686) |  | (2,165,562)
Net current assets |  | 3,319,700 |  | (1,722,509)
Total assets less current liabilities |  | 7,849,700 |  | 8,298,028
Creditors: amount falling due after more than one year |  | (5,527,024) |  | (2,789,026)
Net assets |  | 2,322,676 |  | 5,509,002
Represented by: |  |  |
Loans and other debts due to members |  | 2,312,676 |  | 5,499,002
Members' other interest |  |  |
Members' capital |  | 10,000 |  | 10,000
Other reserves |  | 0 |  | 0
|  | 10,000 |  | 10,000
|  | 2,322,676 |  | 5,509,002
Total members' interests |  |  |
Loans and other debts due to members |  | 2,312,676 |  | 5,499,002
Members' other interests |  | 10,000 |  | 10,000
|  | 2,322,676 |  | 5,509,002
For the year ending 31 March 2023 the LLP was entitled to exemption under section 477 of the Companies Act 2006 (as applied to LLPs) relating to small LLPs. The members acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 (as applied to LLPs) with respect to accounting records and the preparation of accounts. These accounts have been prepared and delivered in accordance with the provisions applicable to LLPs subject to the small LLPs regime.The LLP has opted not to deliver to the registrar a copy of the LLP's Profit and Loss Account under section 444(1) of the Companies Act 2006. The members have agreed to the preparation of abridged accounts for this accounting period in accordance with Section 444(2A) of the Companies Act 2006 (as applied to LLPs). These accounts were approved by the members and signed on their behalf by: ............................................................................. JNAC HOLDING LTD Designated Member Date approved by the members: 18 September 2023 1

TLM GEMINI LLP Notes to the Abridged Financial Statements For the year ended 31 March 2023
General Information TLM GEMINI LLP is a limited liability partnership, registered in England and Wales, registration number OC435891, registration address 76 New Bond Street, London, Greater London, W1S 1RX. The presentation currency is £ sterling.
1. | Accounting policies Significant accounting policies Statement of compliance These financial statements have been prepared in compliance with FRS 102(1A) The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. Basis of preparation The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies. The financial statements are prepared in sterling which is the functional currency of the company. Accounting period The Financial Statements are presented fora 12 months' period. The previous period, although presented for a period of a little bit more than 12 months, has had activity for much less as properties were purchased late during that period. Turnover Turnover represents rental income and related income, net of Value Added Tax and discounts. Financial instruments The limited liability partnership has elected to apply the provisions of Section 11 Basic Financial Instruments and Section 12 Other Financial Instruments Issues of FRS 102 to all of its financial instruments. Financial instruments are recognised in the limited liability partnership's statement of financial position when the limited liability partnership becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally 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. Basic financial assets Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised. Other financial assets Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at cost less impairment. Impairment of financial assets Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of impairment at each reporting end date. Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss. If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. Derecognition of financial assets Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the limited liability partnership transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party. Basic financial liabilities Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised. Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. A mounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Other financial liabilities Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge. Debt instruments that do not meet the conditions in FRS 102 paragraph 11.9 are subsequently measured at fair value through profit or loss. Debt instruments may be designated as fair value through profit or loss to eliminate or reduce an accounting mismatch or if the instruments are measured and their performance evaluated on a fair value basis in accordance with a documented risk management or investment strategy. Derecognition of financial liabilities Financial liabilities are derecognised when the limited liability partnership obligations expire or are discharged or cancelled. Judgements and key sources of estimation uncertainty In the application of the limited liability partnerships accounting policies, the members are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods. Key sources of estimation uncertainty The estimates and assumptions which have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities are as follows. Investment properties Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties should be recognised initially at cost and subsequently investment properties are measured at fair value. Gains and losses arising from changes in the fair value of investment properties are included in profit or loss in the period in which they arise. The Partnership owned two properties at the beginning of the period, but sold one during the period. The remaining property is presented in the accounts at its fair value. This value was determined to be the value that could be achieved if the property was sold at the period end. The valuation has been determined by reference to an independent valuation obtained by the members immediately after the period.
2. | Average number of employees Average number of employees during the year was 0 (2022 : 0).
3. | Tangible fixed assets
Cost or valuation | Investment properties |  | Total
| £ |  | £
At 01 April 2022 | 10,020,537 |  | 10,020,537
Additions | 52,894 |  | 52,894
Disposals | (6,500,000) |  | (6,500,000)
Revaluations | 956,569 |  | 956,569
At 31 March 2023 | 4,530,000 |  | 4,530,000
Depreciation
At 01 April 2022 | - |  | -
Charge for year | - |  | -
On disposals | - |  | -
At 31 March 2023 | - |  | -
Net book values
Closing balance as at 31 March 2023 | 4,530,000 |  | 4,530,000
Opening balance as at 01 April 2022 | 10,020,537 |  | 10,020,537
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