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Registration number: 7207590

Gemini Print Services Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 March 2023

 

Gemini Print Services Limited

Contents

Company Information

1

Statement of Director's Responsibilities

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 10

 

Gemini Print Services Limited

Company Information

Director

Mr P A Batchelor

Registered office

C/o Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Hertfordshire
SG1 2DX

Accountants

Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX

 

Gemini Print Services Limited

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

Chartered Management Accountants' Report to the Director on the Preparation of the Unaudited Statutory Accounts of
Gemini Print Services Limited
for the Year Ended 31 March 2023

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Gemini Print Services Limited for the year ended 31 March 2023 as set out on pages 4 to 10 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Chartered Institute of Management Accountants (CIMA), we are subject to its ethical and other professional requirements. Details of these can be found at www.cimaglobal.com

This report is made solely to the Board of Directors of Gemini Print Services Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Gemini Print Services Limited and state those matters that we have agreed to state to the Board of Directors of Gemini Print Services Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Gemini Print Services Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Gemini Print Services Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Gemini Print Services Limited. You consider that Gemini Print Services Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the accounts of Gemini Print Services 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 accounts.

......................................

Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Herts
SG1 2DX

21 November 2023

 

Gemini Print Services Limited

(Registration number: 7207590)
Balance Sheet as at 31 March 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,609

1,378

Current assets

 

Stocks

5

160

160

Debtors

6

12,732

9,350

Cash at bank and in hand

 

28,394

11,770

 

41,286

21,280

Creditors: Amounts falling due within one year

7

(30,666)

(12,916)

Net current assets

 

10,620

8,364

Total assets less current liabilities

 

12,229

9,742

Provisions for liabilities

(306)

(262)

Net assets

 

11,923

9,480

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

11,823

9,380

Shareholders' funds

 

11,923

9,480

For the financial year ending 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the director on 21 November 2023
 

Mr P A Batchelor
Director

 

Gemini Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
C/o Robert A Harris & Co
Business & Technology Centre
Bessemer Drive
Stevenage
Hertfordshire
SG1 2DX

The principal place of business is:
Unit C
Northbridge Road
Berkhamsted
Hertfordshire
HP4 1EH

These financial statements were authorised for issue by the director on 21 November 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Gemini Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% Reducing Balance basis

Office equipment

25% Reducing Balance basis

Computer equipment

25% Reducing Balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Gemini Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 1).

 

Gemini Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 April 2022

3,307

1,939

5,246

Additions

768

-

768

At 31 March 2023

4,075

1,939

6,014

Depreciation

At 1 April 2022

2,312

1,556

3,868

Charge for the year

441

96

537

At 31 March 2023

2,753

1,652

4,405

Carrying amount

At 31 March 2023

1,322

287

1,609

At 31 March 2022

995

383

1,378

5

Stocks

2023
£

2022
£

Other inventories

160

160

6

Debtors

Current

2023
£

2022
£

Trade debtors

12,551

9,111

Other debtors

181

239

 

12,732

9,350

7

Creditors

Creditors: amounts falling due within one year

 

Gemini Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

2023
£

2022
£

Due within one year

Trade creditors

10,912

1,479

Taxation and social security

2,923

1,176

Accruals and deferred income

2,470

2,213

Other creditors

14,361

8,048

30,666

12,916

8

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

100

100

100

100

         

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £60.00 (2022 - £120.00) per each Ordinary

 

6,000

 

12,000

         

10

Related party transactions

 

Gemini Print Services Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2023

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

6,000

11,850

Dividends paid to the director

   

2023
£

 

2022
£

Mr P A Batchelor

       

Dividends

 

3,000

 

6,000

         

11

Parent and ultimate parent undertaking

The ultimate controlling party is Mr P Batchelor & Mrs S Batchelor.