Registered number
04160111
Gemina Investments Limited
Unaudited Filleted Accounts
31 August 2024
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
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