Gemini Exports Limited 06504721 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is Agents involved in the sale of timber and building materials Digita Accounts Production Advanced 6.30.9574.0 true true 06504721 2024-03-01 2025-02-28 06504721 2025-02-28 06504721 bus:OrdinaryShareClass1 2025-02-28 06504721 bus:OrdinaryShareClass2 2025-02-28 06504721 core:CurrentFinancialInstruments 2025-02-28 06504721 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 06504721 core:FurnitureFittingsToolsEquipment 2025-02-28 06504721 bus:SmallEntities 2024-03-01 2025-02-28 06504721 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 06504721 bus:FilletedAccounts 2024-03-01 2025-02-28 06504721 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 06504721 bus:RegisteredOffice 2024-03-01 2025-02-28 06504721 bus:CompanySecretary1 2024-03-01 2025-02-28 06504721 bus:Director2 2024-03-01 2025-02-28 06504721 bus:Director3 2024-03-01 2025-02-28 06504721 bus:OrdinaryShareClass1 2024-03-01 2025-02-28 06504721 bus:OrdinaryShareClass2 2024-03-01 2025-02-28 06504721 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 06504721 core:FurnitureFittingsToolsEquipment 2024-03-01 2025-02-28 06504721 core:OfficeEquipment 2024-03-01 2025-02-28 06504721 countries:EnglandWales 2024-03-01 2025-02-28 06504721 2024-02-29 06504721 core:FurnitureFittingsToolsEquipment 2024-02-29 06504721 2023-03-01 2024-02-29 06504721 2024-02-29 06504721 bus:OrdinaryShareClass1 2024-02-29 06504721 bus:OrdinaryShareClass2 2024-02-29 06504721 core:CurrentFinancialInstruments 2024-02-29 06504721 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 06504721 core:FurnitureFittingsToolsEquipment 2024-02-29 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 06504721

Gemini Exports Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2025

 

Gemini Exports Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Gemini Exports Limited

Company Information

Directors

Mr M J Haria

Mr P Shah

Company secretary

Mrs S M Haria

Registered office

42-46 Station Road
Edgware
Middlesex
HA8 7AB

Accountants

Kajaine Kafton LLP
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Gemini Exports Limited

(Registration number: 06504721)
Balance Sheet as at 28 February 2025

Note

2025
£

2024
£

Fixed assets

 

Tangible assets

4

-

2

Current assets

 

Stocks

5

129,510

129,510

Debtors

6

77,592

77,593

Cash at bank and in hand

 

1,306

3,971

 

208,408

211,074

Creditors: Amounts falling due within one year

7

(127,820)

(129,088)

Net current assets

 

80,588

81,986

Net assets

 

80,588

81,988

Capital and reserves

 

Called up share capital

8

1,010

1,010

Retained earnings

79,578

80,978

Shareholders' funds

 

80,588

81,988

For the financial year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 13 March 2025 and signed on its behalf by:
 

.........................................
Mr M J Haria
Director

 

Gemini Exports Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42-46 Station Road
Edgware
Middlesex
HA8 7AB
England

These financial statements were authorised for issue by the Board on 13 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Gemini Exports Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Office equipment

25% reducing balance method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Gemini Exports Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 0 (2024 - 0).

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 March 2024

11,679

11,679

Disposals

(11,679)

(11,679)

At 28 February 2025

-

-

Depreciation

At 1 March 2024

11,677

11,677

Eliminated on disposal

(11,677)

(11,677)

At 28 February 2025

-

-

Carrying amount

At 28 February 2025

-

-

At 29 February 2024

2

2

5

Stocks

2025
£

2024
£

Other inventories

129,510

129,510

6

Debtors

Current

2025
£

2024
£

Other debtors

77,592

77,593

 

77,592

77,593

 

Gemini Exports Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7

Creditors

Creditors: amounts falling due within one year

Note

2025
£

2024
£

Due within one year

 

Other creditors

 

56,586

56,589

Accrued expenses

 

360

600

Directors current account

 

70,874

71,899

 

127,820

129,088

8

Share capital

Allotted, called up and fully paid shares

2025

2024

No.

£

No.

£

Ordinary Shares of £0.10 each

10,000

1,000

10,000

1,000

Ordinary A Shares of £0.10 each

100

10

100

10

10,100

1,010

10,100

1,010

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2025
£

2024
£

Remuneration

-

4,548