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REGISTERED NUMBER: SC396552 (Scotland)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

GEMINI MEDICAL CARE LTD

GEMINI MEDICAL CARE LTD (REGISTERED NUMBER: SC396552)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 July 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


GEMINI MEDICAL CARE LTD

COMPANY INFORMATION
for the year ended 31 July 2023







DIRECTOR: S Gemmell



REGISTERED OFFICE: 43
Louisville Avenue
Wishaw
Lanarkshire
ML2 8XU



REGISTERED NUMBER: SC396552 (Scotland)



ACCOUNTANTS: Mitchell Edwards
Chartered Certified Accountants
24A Ainslie Place
Edinburgh
EH3 6AJ



BANKERS: Royal Bank of Scotland
10 Gordon Street
Glasgow
G1 3PW

GEMINI MEDICAL CARE LTD (REGISTERED NUMBER: SC396552)

BALANCE SHEET
31 July 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 347,433 390,861
Tangible assets 5 242,782 235,652
590,215 626,513

CURRENT ASSETS
Stocks 6 96,512 79,248
Debtors 7 251,351 159,914
Cash at bank and in hand 290,458 352,691
638,321 591,853
CREDITORS
Amounts falling due within one year 8 500,585 431,970
NET CURRENT ASSETS 137,736 159,883
TOTAL ASSETS LESS CURRENT
LIABILITIES

727,951

786,396

CAPITAL AND RESERVES
Called up share capital 100 100
Share premium 199,900 199,900
Retained earnings 527,951 586,396
SHAREHOLDERS' FUNDS 727,951 786,396

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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 18 March 2024 and were signed by:





S Gemmell - Director


GEMINI MEDICAL CARE LTD (REGISTERED NUMBER: SC396552)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 July 2023


1. STATUTORY INFORMATION

Gemini Medical Care Ltd 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.

The financial statements are presented in sterling which is the functional currency of the company rounded to the nearest £.

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 2011, is being amortised evenly over its estimated useful life of twenty 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.
Heritable property - 2% on cost
Tenants improvements - at varying rates on cost
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% 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.

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.

GEMINI MEDICAL CARE LTD (REGISTERED NUMBER: SC396552)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 August 2022
and 31 July 2023 868,560
AMORTISATION
At 1 August 2022 477,699
Amortisation for year 43,428
At 31 July 2023 521,127
NET BOOK VALUE
At 31 July 2023 347,433
At 31 July 2022 390,861

5. TANGIBLE FIXED ASSETS
Fixtures
Heritable Tenants and Computer
property improvements fittings equipment Totals
£    £    £    £    £   
COST
At 1 August 2022 125,000 123,556 18,769 26,593 293,918
Additions - - 6,970 30,450 37,420
At 31 July 2023 125,000 123,556 25,739 57,043 331,338
DEPRECIATION
At 1 August 2022 27,500 8,155 7,255 15,356 58,266
Charge for year 2,500 8,154 2,772 16,864 30,290
At 31 July 2023 30,000 16,309 10,027 32,220 88,556
NET BOOK VALUE
At 31 July 2023 95,000 107,247 15,712 24,823 242,782
At 31 July 2022 97,500 115,401 11,514 11,237 235,652

6. STOCKS
2023 2022
£    £   
Stocks 96,512 79,248

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 174,463 81,186
Other debtors 76,888 78,728
251,351 159,914

GEMINI MEDICAL CARE LTD (REGISTERED NUMBER: SC396552)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 July 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 295,968 257,931
Taxation and social security 10,398 -
Other creditors 194,219 174,039
500,585 431,970

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Other loans 94,690 94,690

The other loan is unsecured, interest free and has no fixed terms of repayment.

10. OTHER FINANCIAL COMMITMENTS

At 31 July 2023 the company had an annual lease commitment for the property 1 Liberton Drive, Edinburgh, EH16 6NL amounting to £48,000.

11. RELATED PARTY DISCLOSURES

Included within other debtors is a loan to a company which is under common control amounting to £36,926 (2022:£36,926). This loan which is unsecured is provided interest free and has no agreed terms of repayment.