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REGISTERED NUMBER: 05454885 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 May 2023

for

Gemini Business Systems Ltd

Gemini Business Systems Ltd (Registered number: 05454885)






Contents of the Financial Statements
for the Year Ended 31 May 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Gemini Business Systems Ltd

Company Information
for the Year Ended 31 May 2023







DIRECTORS: P D Baker
P Baker





SECRETARY: Mrs J A Baker





REGISTERED OFFICE: 26 Bell Street
Sawbridgeworth
Hertfordshire
CM21 9AN





REGISTERED NUMBER: 05454885 (England and Wales)





ACCOUNTANTS: Lawrence & Company
Chartered Certified Accountants
26 Bell Street
Sawbridgeworth
Hertfordshire
CM21 9AN

Gemini Business Systems Ltd (Registered number: 05454885)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 377 557

CURRENT ASSETS
Stocks 1,200 6,315
Debtors 5 21,868 23,283
Cash at bank 12,664 23,843
35,732 53,441
CREDITORS
Amounts falling due within one year 6 40,673 37,403
NET CURRENT (LIABILITIES)/ASSETS (4,941 ) 16,038
TOTAL ASSETS LESS CURRENT
LIABILITIES

(4,564

)

16,595

CREDITORS
Amounts falling due after more than one
year

7

38,739

40,365
NET LIABILITIES (43,303 ) (23,770 )

CAPITAL AND RESERVES
Called up share capital 120 120
Retained earnings 8 (43,423 ) (23,890 )
SHAREHOLDERS' FUNDS (43,303 ) (23,770 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2023 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.

Gemini Business Systems Ltd (Registered number: 05454885)

Balance Sheet - continued
31 May 2023


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 Board of Directors and authorised for issue on 24 January 2024 and were signed on its behalf by:





P D Baker - Director


Gemini Business Systems Ltd (Registered number: 05454885)

Notes to the Financial Statements
for the Year Ended 31 May 2023

1. STATUTORY INFORMATION

Gemini Business Systems Ltd 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. 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Computer equipment - 25% 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.

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 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 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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

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

Gemini Business Systems Ltd (Registered number: 05454885)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 June 2022
and 31 May 2023 8,816 1,788 10,604
DEPRECIATION
At 1 June 2022 8,746 1,301 10,047
Charge for year 18 162 180
At 31 May 2023 8,764 1,463 10,227
NET BOOK VALUE
At 31 May 2023 52 325 377
At 31 May 2022 70 487 557

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Trade debtors 21,868 23,283

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts 3,200 3,200
Trade creditors 203 3,013
Taxation 15,171 8,481
Social security and other taxes 20,799 21,309
Accrued expenses 1,300 1,400
40,673 37,403

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.5.23 31.5.22
£    £   
Bank loans - 1-2 years 3,200 3,200
Bank loans - 2-5 years 4,000 7,200
Directors loan account 31,539 29,965
38,739 40,365

8. RESERVES
Retained
earnings
£   

At 1 June 2022 (23,890 )
Deficit for the year (19,533 )
At 31 May 2023 (43,423 )

Gemini Business Systems Ltd (Registered number: 05454885)

Notes to the Financial Statements - continued
for the Year Ended 31 May 2023

9. RELATED PARTY DISCLOSURES

The directors, together with members of their close family, control the company by virtue of a direct controlling interest of 100% of the issued ordinary share capital. Transactions on the directors loan account during the year were as follows:-

Balance Advanced to Balance
B/fwd the company C/fwd

£29,965 £1,574 £31,539

Gemini Business Systems Ltd

Report of the Accountants to the Directors of
Gemini Business Systems Ltd

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 May 2023 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Lawrence & Company
Chartered Certified Accountants
26 Bell Street
Sawbridgeworth
Hertfordshire
CM21 9AN


24 January 2024