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REGISTERED NUMBER: SC507625 (Scotland)















Unaudited Financial Statements for the Year Ended 30 June 2023

for

Gemini Property Services Limited

Gemini Property Services Limited (Registered number: SC507625)






Contents of the Financial Statements
for the Year Ended 30 June 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Gemini Property Services Limited

Company Information
for the Year Ended 30 June 2023







DIRECTOR: R J A Mackinnon





REGISTERED OFFICE: 1 Drumdryan Street
Edinburgh
EH3 9JZ





REGISTERED NUMBER: SC507625 (Scotland)





ACCOUNTANTS: One Accounting Ltd
Chartered Management Accountants
Drumsheugh Toll
2 Belford Road
Edinburgh
Midlothian
EH4 3BL

Gemini Property Services Limited (Registered number: SC507625)

Statement of Financial Position
30 June 2023

30.6.23 30.6.22
Notes £    £   
CURRENT ASSETS
Stocks 1,847 9,292
Debtors 6 17,330 12,602
Cash at bank 264,835 266,288
284,012 288,182
CREDITORS
Amounts falling due within one year 7 67,363 60,191
NET CURRENT ASSETS 216,649 227,991
TOTAL ASSETS LESS CURRENT
LIABILITIES

216,649

227,991

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 216,647 227,989
SHAREHOLDERS' FUNDS 216,649 227,991

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 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 28 October 2023 and were signed by:





R J A Mackinnon - Director


Gemini Property Services Limited (Registered number: SC507625)

Notes to the Financial Statements
for the Year Ended 30 June 2023

1. STATUTORY INFORMATION

Gemini Property Services Limited is a private company, limited by shares , registered in Scotland. 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 2015, is being amortised evenly over its estimated useful life of five 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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipments - 20% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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 statement of financial position date.


Gemini Property Services Limited (Registered number: SC507625)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 July 2022
and 30 June 2023 10,554
AMORTISATION
At 1 July 2022
and 30 June 2023 10,554
NET BOOK VALUE
At 30 June 2023 -
At 30 June 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipments Totals
£    £    £    £   
COST
At 1 July 2022
and 30 June 2023 1,670 54,513 744 56,927
DEPRECIATION
At 1 July 2022
and 30 June 2023 1,670 54,513 744 56,927
NET BOOK VALUE
At 30 June 2023 - - - -
At 30 June 2022 - - - -


Gemini Property Services Limited (Registered number: SC507625)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade debtors 16,578 9,063
Other debtors 752 3,539
17,330 12,602

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.23 30.6.22
£    £   
Trade creditors 3,986 1,491
Credit Cards 1,715 310
Tax 5,575 16,110
Social security and other taxes 1,091 1,030
VAT 5,461 5,777
Other creditors 6,296 558
Directors' loan accounts 40,639 34,781
Accrued expenses 2,600 134
67,363 60,191

8. RELATED PARTY DISCLOSURES

During the year, total dividends of £30,110 (2022 - £29,000) were paid to the director .

At the year end the director was due £40,639 (2022 £34,781) from the company. This loan is interest free and is repayable on demand.