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REGISTERED NUMBER: NI071252 (Northern Ireland)















GEMIN CONSTRUCTION LTD

Unaudited Financial Statements for the Year Ended 30 June 2024






GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252)






Contents of the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


GEMIN CONSTRUCTION LTD

Company Information
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTOR: Gareth Macklin





REGISTERED OFFICE: 26 Wellington Park
Belfast
Co. Antrim
BT9 6DL





REGISTERED NUMBER: NI071252 (Northern Ireland)





ACCOUNTANTS: CavanaghKelly
Chartered Accountants
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252)

Statement of Financial Position
30 JUNE 2024

2024 2023
Notes £ £
NON-CURRENT ASSETS
Property, plant and equipment 5 12,942 15,225

CURRENT ASSETS
Inventories 6 42,624 172,361
Receivables: amounts falling due within
one year

7

968,354

610,791
Debtors: amounts falling due after
more than one year

7

456,540

555,669
Cash at bank 76,112 36,897
1,543,630 1,375,718
PAYABLES
Amounts falling due within one year 8 (1,195,398 ) (958,327 )
NET CURRENT ASSETS 348,232 417,391
TOTAL ASSETS LESS CURRENT
LIABILITIES

361,174

432,616

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 361,172 432,614
SHAREHOLDERS' FUNDS 361,174 432,616

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 June 2024 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 December 2024 and were signed by:





Gareth Macklin - Director


GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252)

Notes to the Financial Statements
FOR THE YEAR ENDED 30 JUNE 2024

1. STATUTORY INFORMATION

Gemin Construction Ltd is a private company, limited by shares , registered in Northern Ireland. The company's registered number and registered office address can be found on the Company Information page.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparation
The financial statements have been prepared on the going concern basis and in accordance with the historical cost convention except for certain properties and financial instruments that are measured at revalued amounts or fair values, as explained in the accounting policies below. Historical cost is generally based on the fair value of the consideration given in exchange for assets. The following accounting policies have been applied consistently in dealing with items which are considered material in relation to the company's financial statements.

Revenue
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Property, plant and equipment and depreciation
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery15% Reducing balance

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

Inventories
Inventories are valued at the lower of cost and net realisable value. Cost comprises expenditure incurred in the normal course of business in bringing inventories to their present location and condition. Full provision is made for obsolete and slow moving items. Net realisable value comprises actual or estimated selling price (net of trade discounts) less all further costs to completion or to be incurred in marketing and selling.

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 tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

3. ACCOUNTING POLICIES - continued

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
£
COST
At 1 July 2023
and 30 June 2024 26,800
DEPRECIATION
At 1 July 2023 11,575
Charge for year 2,283
At 30 June 2024 13,858
NET BOOK VALUE
At 30 June 2024 12,942
At 30 June 2023 15,225

6. INVENTORIES
2024 2023
£ £
Work-in-progress 42,624 172,361

7. RECEIVABLES
2024 2023
£ £
Amounts falling due within one year:
Trade receivables 155,132 156,617
Other receivables 813,201 454,174
Tax 21 -
968,354 610,791

Amounts falling due after more than one year:
Other debtors 456,540 555,669

Aggregate amounts 1,424,894 1,166,460

GEMIN CONSTRUCTION LTD (REGISTERED NUMBER: NI071252)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 30 JUNE 2024

8. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade payables 209,227 63,433
Tax - 6,535
Social security and other taxes 210 3,596
VAT 95,130 47,362
Other payables 879,205 826,040
Directors' current accounts 8,111 8,111
Accruals and deferred income 3,515 3,250
1,195,398 958,327

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
2 Ordinary £1 2 2