Gemini Drivers Limited 11084569 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is that of delivery of vehicles Digita Accounts Production Advanced 6.30.9574.0 true true 11084569 2022-12-01 2023-11-30 11084569 2023-11-30 11084569 bus:OrdinaryShareClass1 2023-11-30 11084569 bus:OrdinaryShareClass2 2023-11-30 11084569 bus:OrdinaryShareClass3 2023-11-30 11084569 core:HirePurchaseContracts core:CurrentFinancialInstruments 2023-11-30 11084569 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-11-30 11084569 core:CurrentFinancialInstruments 2023-11-30 11084569 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 11084569 core:Non-currentFinancialInstruments 2023-11-30 11084569 core:Non-currentFinancialInstruments core:AfterOneYear 2023-11-30 11084569 core:FurnitureFittingsToolsEquipment 2023-11-30 11084569 core:MotorVehicles 2023-11-30 11084569 core:OtherRelatedParties 2023-11-30 11084569 bus:SmallEntities 2022-12-01 2023-11-30 11084569 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 11084569 bus:FullAccounts 2022-12-01 2023-11-30 11084569 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 11084569 bus:RegisteredOffice 2022-12-01 2023-11-30 11084569 bus:Director1 2022-12-01 2023-11-30 11084569 bus:OrdinaryShareClass1 2022-12-01 2023-11-30 11084569 bus:OrdinaryShareClass2 2022-12-01 2023-11-30 11084569 bus:OrdinaryShareClass3 2022-12-01 2023-11-30 11084569 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 11084569 core:ComputerEquipment 2022-12-01 2023-11-30 11084569 core:FurnitureFittings 2022-12-01 2023-11-30 11084569 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 11084569 core:MotorVehicles 2022-12-01 2023-11-30 11084569 core:OtherRelatedParties 2022-12-01 2023-11-30 11084569 countries:EnglandWales 2022-12-01 2023-11-30 11084569 2022-11-30 11084569 core:FurnitureFittingsToolsEquipment 2022-11-30 11084569 core:MotorVehicles 2022-11-30 11084569 core:OtherRelatedParties 2022-11-30 11084569 2021-12-01 2022-11-30 11084569 2022-11-30 11084569 bus:OrdinaryShareClass1 2022-11-30 11084569 bus:OrdinaryShareClass2 2022-11-30 11084569 bus:OrdinaryShareClass3 2022-11-30 11084569 core:HirePurchaseContracts core:CurrentFinancialInstruments 2022-11-30 11084569 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2022-11-30 11084569 core:CurrentFinancialInstruments 2022-11-30 11084569 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 11084569 core:Non-currentFinancialInstruments 2022-11-30 11084569 core:Non-currentFinancialInstruments core:AfterOneYear 2022-11-30 11084569 core:FurnitureFittingsToolsEquipment 2022-11-30 11084569 core:MotorVehicles 2022-11-30 11084569 core:OtherRelatedParties 2022-11-30 11084569 bus:OrdinaryShareClass2 2021-12-01 2022-11-30 11084569 bus:OrdinaryShareClass3 2021-12-01 2022-11-30 11084569 2021-11-30 11084569 core:OtherRelatedParties 2021-11-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11084569

Gemini Drivers Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Gemini Drivers Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Gemini Drivers Limited

Company Information

Director

Paul Greasley

Registered office

Office 3
Parkhall Business Village
Parkhall Road
Stoke on Trent
Staffordshire
ST3 5XA

Accountants

Mill House Accountancy Limited
Chartered Accountants
Unit 2, The Keele Centre
Three Mile Lane
Keele
Newcastle-under-Lyme
Staffordshire
ST5 5HH

 

Gemini Drivers Limited

(Registration number: 11084569)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

79,344

27,709

Current assets

 

Debtors

5

404,062

455,875

Cash at bank and in hand

 

43,157

77,909

 

447,219

533,784

Creditors: Amounts falling due within one year

6

(316,858)

(364,620)

Net current assets

 

130,361

169,164

Total assets less current liabilities

 

209,705

196,873

Creditors: Amounts falling due after more than one year

6

(157,713)

(186,699)

Provisions for liabilities

(4,340)

-

Net assets

 

47,652

10,174

Capital and reserves

 

Called up share capital

7

100

100

Retained earnings

47,552

10,074

Shareholders' funds

 

47,652

10,174

For the financial year ending 30 November 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. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 1 March 2024
 

.........................................
Paul Greasley
Director

 

Gemini Drivers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 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:
Office 3
Parkhall Business Village
Parkhall Road
Stoke on Trent
Staffordshire
ST3 5XA
England

These financial statements were authorised for issue by the director on 1 March 2024.

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.

Going concern

The financial statements have been prepared on a going concern basis.

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.

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.

 

Gemini Drivers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

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

Fittings & fixtures

20% Reducing Balance

Office Equipment

33% Reducing Balance

Motor Vehicles

25% Reducing Balance

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 8 (2022 - 7).

 

Gemini Drivers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 December 2022

43,278

22,990

66,268

Additions

12,284

50,000

62,284

At 30 November 2023

55,562

72,990

128,552

Depreciation

At 1 December 2022

24,635

13,924

38,559

Charge for the year

6,299

4,350

10,649

At 30 November 2023

30,934

18,274

49,208

Carrying amount

At 30 November 2023

24,628

54,716

79,344

At 30 November 2022

18,643

9,066

27,709

5

Debtors

Current

2023
£

2022
£

Trade debtors

393,095

438,675

Prepayments

4,800

7,200

Other debtors

6,167

10,000

 

404,062

455,875

6

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

73,379

278,991

Trade creditors

 

11,703

21,540

Taxation and social security

 

39,540

39,628

Accruals and deferred income

 

800

800

Other creditors

 

191,436

23,661

 

316,858

364,620

 

Gemini Drivers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

157,713

186,699

7

Share capital

Allotted, called up and fully paid shares

 

2023

2022

 

No.

£

No.

£

Ordinary of £1 each

1

1

1

1

A Ordinary of £1 each

50

50

50

50

B Ordinary of £1 each

49

49

49

49

 

100

100

100

100

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Hire purchase contracts

38,045

-

Other borrowings

119,668

186,699

157,713

186,699

2023
£

2022
£

Current loans and borrowings

Bank borrowings

67,031

60,865

Bank overdrafts

1

-

Hire purchase contracts

3,752

-

Other borrowings

2,595

218,126

73,379

278,991

 

Gemini Drivers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

9

Dividends

Interim dividends paid

   

2023
£

 

2022
£

Interim dividend of £1,242.00 (2022 - £908.06) per each A Ordinary

 

62,100

 

45,403

Interim dividend of £204.0816 (2022 - £Nil) per each B Ordinary

 

10,000

 

-

   

72,100

 

45,403

10

Related party transactions

Gemini Drivers North West Ltd is a related party by virtue of common control.

 

Gemini Drivers Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

Director's remuneration

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

2023
£

2022
£

Remuneration

11,908

11,128

Loans from related parties

2023

Other related parties
£

Total
£

At start of period

13,156

13,156

Advanced

20,000

20,000

Repaid

(5,833)

(5,833)

At end of period

27,323

27,323

2022

Other related parties
£

Total
£

At start of period

13,156

13,156

At end of period

13,156

13,156