Gemina Investments Limited |
Registered number: |
04160111 |
Balance Sheet |
as at 31 August 2024 |
|
Notes |
|
|
2024 |
|
|
2023 |
£ |
£ |
Fixed assets |
Tangible assets |
3 |
|
|
6,156,926 |
|
|
5,783,179 |
Investments |
4 |
|
|
311,753 |
|
|
301,535 |
|
|
|
|
6,468,679 |
|
|
6,084,714 |
|
Current assets |
Debtors |
5 |
|
19,550 |
|
|
24,397 |
Cash at bank and in hand |
|
|
81,863 |
|
|
62,625 |
|
|
|
101,413 |
|
|
87,022 |
|
Creditors: amounts falling due within one year |
6 |
|
(372,493) |
|
|
(486,218) |
|
Net current liabilities |
|
|
|
(271,080) |
|
|
(399,196) |
|
Total assets less current liabilities |
|
|
|
6,197,599 |
|
|
5,685,518 |
|
Creditors: amounts falling due after more than one year |
7 |
|
|
(1,922,383) |
|
|
(2,072,383) |
|
Provisions for liabilities |
|
|
|
(355,697) |
|
|
(261,947) |
|
|
Net assets |
|
|
|
3,919,519 |
|
|
3,351,188 |
|
|
|
|
|
|
|
|
Capital and reserves |
Called up share capital |
|
|
|
100 |
|
|
100 |
Profit and loss account |
|
|
|
3,919,419 |
|
|
3,351,088 |
|
Shareholders' funds |
|
|
|
3,919,519 |
|
|
3,351,188 |
|
|
|
|
|
|
|
|
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
Mr RM Davis |
Director |
Approved by the board on 13 November 2024 |
|
Gemina Investments Limited |
Notes to the Accounts |
for the year ended 31 August 2024 |
|
|
1 |
Accounting policies |
|
|
Basis of preparation |
|
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard). |
|
|
Tangible fixed assets |
|
Investment properties are revalued annually by a Director at fair value at the balance sheet date. Any changes in fair value are recognised in the profit and loss account. No depreciation is provided on investment properties. Such properties are held for their investment potential and not for consumption within the business. This is departure from Companies Act which requires all properties to be depreciated. In the opinion of the Director the adoption of this policy has no material impact on the results for the year.Other tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than investment properties at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
50% reducing balance |
|
|
Investments |
|
Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax liabilities are not discounted. |
|
|
2 |
Employees |
2024 |
|
2023 |
Number |
Number |
|
|
Average number of persons employed by the company |
1 |
|
1 |
|
|
|
|
|
|
|
|
|
|
3 |
Tangible fixed assets |
|
|
|
|
Land and buildings |
|
Plant and machinery etc |
|
Total |
£ |
£ |
£ |
|
Cost |
|
At 1 September 2023 |
5,780,000 |
|
45,110 |
|
5,825,110 |
|
Additions |
- |
|
673 |
|
673 |
|
Surplus on revaluation |
375,000 |
|
- |
|
375,000 |
|
At 31 August 2024 |
6,155,000 |
|
45,783 |
|
6,200,783 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 September 2023 |
- |
|
41,931 |
|
41,931 |
|
Charge for the year |
- |
|
1,926 |
|
1,926 |
|
At 31 August 2024 |
- |
|
43,857 |
|
43,857 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 August 2024 |
6,155,000 |
|
1,926 |
|
6,156,926 |
|
At 31 August 2023 |
5,780,000 |
|
3,179 |
|
5,783,179 |
|
|
|
|
|
|
|
|
|
|
|
Freehold land and buildings: |
2024 |
|
2023 |
£ |
£ |
|
Historical cost |
4,015,651 |
|
4,015,651 |
|
Cumulative depreciation based on historical cost |
- |
|
- |
|
|
|
|
|
|
4,015,651 |
|
4,015,651 |
|
|
4 |
Investments |
|
Other |
investments |
£ |
|
Cost |
|
At 1 September 2023 |
301,535 |
|
Additions |
25,313 |
|
Revaluation |
(15,095) |
|
|
At 31 August 2024 |
311,753 |
|
|
5 |
Debtors |
2024 |
|
2023 |
£ |
£ |
|
|
Other debtors |
19,550 |
|
24,397 |
|
|
|
|
|
|
|
|
|
|
6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
£ |
£ |
|
|
Trade creditors |
3,670 |
|
20,112 |
|
Taxation and social security costs |
29,845 |
|
25,142 |
|
Other creditors |
338,978 |
|
440,964 |
|
|
|
|
|
|
372,493 |
|
486,218 |
|
|
|
|
|
|
|
|
|
|
7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
£ |
£ |
|
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
1,772,383 |
|
1,922,383 |
|
Other creditors |
150,000 |
|
150,000 |
|
|
|
|
|
|
1,922,383 |
|
2,072,383 |
|
|
|
|
|
|
|
|
|
|
8 |
Revaluation reserve |
2024 |
|
2023 |
£ |
£ |
|
|
At 1 September 2023 |
1,502,402 |
|
949,670 |
|
Gain on revaluation of land and buildings |
375,000 |
|
760,123 |
|
Deferred taxation arising on the revaluation of land and buildings |
(93,750) |
|
(207,391) |
|
|
At 31 August 2024 |
1,783,652 |
|
1,502,402 |
|
|
|
|
|
|
|
|
|
|
9 |
Controlling party |
|
|
The Ultimate controlling party is Kingsmill Holdings Limited a company incorporated in England. Its registered office is 218 Malvern Road, Bournemouth BH9 3BX. |
|
|
10 |
Other information |
|
|
Gemina Investments Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
218 Malvern Road |
|
Bournemouth |
|
BH9 3BX |