Company registration number 04544080 (England and Wales)
GEMINI LIGHTING SOLUTIONS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
GEMINI LIGHTING SOLUTIONS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
GEMINI LIGHTING SOLUTIONS LIMITED (REGISTERED NUMBER: 04544080)
BALANCE SHEET
AS AT
30 SEPTEMBER 2024
30 September 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
28,650
36,567
Investments
4
177,572
101,623
206,222
138,190
Current assets
Stocks
124,800
107,160
Debtors
6
334,002
352,494
Cash at bank and in hand
1,218,715
874,817
1,677,517
1,334,471
Creditors: amounts falling due within one year
7
(414,039)
(255,450)
Net current assets
1,263,478
1,079,021
Total assets less current liabilities
1,469,700
1,217,211
Provisions for liabilities
(10,383)
-
0
Net assets
1,459,317
1,217,211
Capital and reserves
Called up share capital
100
100
Non-distributable profits reserve
8
9,664
-
0
Distributable profit and loss reserves
1,449,553
1,217,111
Total equity
1,459,317
1,217,211

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

GEMINI LIGHTING SOLUTIONS LIMITED (REGISTERED NUMBER: 04544080)
BALANCE SHEET (CONTINUED)
AS AT
30 SEPTEMBER 2024
30 September 2024
- 2 -
The financial statements were approved and signed by the director and authorised for issue on 27 November 2024
I Rhodes
Director
GEMINI LIGHTING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 3 -
1
Accounting policies
Company information

Gemini Lighting Solutions Limited is a private company limited by shares incorporated in England and Wales. The registered office is 12 Orchard View, Detling, Maidstone, Kent, ME14 3NR.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

1.2
Turnover

Turnover is recognised at the fair value of consideration received or receivable for the services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. The following criteria must also be met before turnover is recognised.

Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

- The amount of turnover can be measured reliably                

- It is probable that the company will receive the consideration due under the contract    

- the stage of completion of the contract at the end of the reporting period can be measured reliably; and

- the costs incurred and the costs to complete the contract can be measured reliably    

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures, fittings & equipment
25% reducing balance
Computer equipment
25% reducing balance
Motor vehicles
25% reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

GEMINI LIGHTING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Stocks

Stocks are valued at lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.7
Retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the profit and loss account in the period to which they relate.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
10
10
GEMINI LIGHTING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 5 -
3
Tangible fixed assets
Fixtures, fittings & equipment
Computer equipment
Motor vehicles
Total
£
£
£
£
Cost
At 1 October 2023
8,776
28,175
55,065
92,016
Additions
-
0
1,515
-
0
1,515
At 30 September 2024
8,776
29,690
55,065
93,531
Depreciation and impairment
At 1 October 2023
8,209
24,870
22,370
55,449
Depreciation charged in the year
141
1,117
8,174
9,432
At 30 September 2024
8,350
25,987
30,544
64,881
Carrying amount
At 30 September 2024
426
3,703
24,521
28,650
At 30 September 2023
567
3,305
32,695
36,567
4
Fixed asset investments
2024
2023
£
£
Other investments other than loans
177,572
101,623
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 October 2023
101,623
Additions
60,000
Valuation changes
15,949
At 30 September 2024
177,572
Carrying amount
At 30 September 2024
177,572
At 30 September 2023
101,623
GEMINI LIGHTING SOLUTIONS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
5
Financial instruments
2024
2023
£
£
Carrying amount of financial assets
Instruments measured at fair value through profit or loss
177,572
101,623
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
322,015
342,822
Other debtors
11,987
5,811
334,002
348,633
2024
2023
Amounts falling due after more than one year:
£
£
Deferred tax asset
-
0
3,861
Total debtors
334,002
352,494
7
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
222,845
115,305
Taxation and social security
185,639
134,309
Other creditors
5,555
5,836
414,039
255,450
8
Non-distributable profits reserve
2024
2023
£
£
At the beginning of the year
-
-
Non distributable profits in the year
9,664
-
At the end of the year
9,664
-
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