2024-01-01 2024-12-31 10958572 Gemini Health Limited false 10958572 2024-01-01 2024-12-31 10958572 uk-bus:Director1 2024-01-01 2024-12-31 10958572 uk-bus:AuditExempt-NoAccountantsReport 2024-01-01 2024-12-31 10958572 uk-bus:SmallEntities 2024-01-01 2024-12-31 10958572 uk-bus:FullAccounts 2024-01-01 2024-12-31 10958572 uk-bus:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 10958572 2024-01-01 10958572 2024-12-31 10958572 2023-12-31 xbrli:pure iso4217:GBP 10958572 2023-01-01 2023-12-31
Company Registration Number : 10958572 (England and Wales)
10958572
This company is a private limited company
This company sells stuff to other companies
The company was trading for the entire period
Full Accounts
2024-12-31
false
Gemini Health Limited
The accounts were prepared in accordance with FRS102A
The accounts have been audited
2024-01-01
Gemini Health Limited
Unaudited filleted financial statements
For the year ended 31 December 2024
Gemini Health Limited
Contents
For the year ended 31 December 2024

CONTENTS PAGE
Company Information 3
Statement of Financial Position 4
Notes to the Financial Statements 5 - 7


Gemini Health Limited
Company Information
For the year ended 31 December 2024

Company registration number 10958572 (England and Wales)
Directors H Grewal
A M Patel
Registered office address Ramsay Brown LLP
The Brentano Suite, Solar House
915 High Road, North Finchley
N12 8QJ
Accountant Ramsay Brown LLP
Chartered Accountants
The Brentano Suite, Solar House
915 High Road, North Finchley
N12 8QJ
Gemini Health Limited
Statement of Financial Position
For the year ended 31 December 2024

2024 2023
Notes £ £
Fixed assets
Property, plant and equipment 4,835,366 4,840,368
4,835,366 4,840,368
Current assets
Debtors 7 73,621 61,890
Debtors: Amounts falling due after more than one year 7 304,531 303,281
Cash and cash equivalents 60,690 60,050
438,842 425,221
Current liabilities
Creditors: Amounts falling due within one year 8 (80,895) (75,104)
Corporation tax payable (112,089) (19,129)
(192,985) (94,233)
Net current assets/(liabilities) 245,858 330,988
Total assets less current liabilities 5,081,224 5,171,357
Non-current liabilities
Creditors: Amounts falling due after more than one year 9 (3,527,297) (4,444,996)
Net assets/(liabilities) 1,553,927 726,360
Capital and reserves
Called up share capital 10 1,000 1,000
Revaluation reserve (1,219,491) -
Retained earnings 2,772,418 725,360
Shareholder's funds 1,553,927 726,360
For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006.
The directors have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibility for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the special provisions of the Companies Act 2006 applicable to companies subject to the small companies' regime and in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small entities regime. All the members of the company have consented to the drawing up of the abridged balance sheet.
  • For the year ended 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
  • The directors acknowledge their responsibility for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
  • These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 19 March 2025
.............................
H Grewal (Director)
Company registration number: 10958572
/* == Copy of Frs105 Balance Sheet for XML COntent ============================================================ */
Balance sheet at 2024-12-31 31 December 2024
2024 2023
£ £
Fixed Assets 4,835,366 4,840,368
Current Assets 126,323 114,828
Prepayments and accrued income 7,988 7,112
Creditors: amounts falling due within one year (192,985) (94,233)
Net current assets (liabilities) (58,674) 27,708
Total assets less current liabilities 4,776,693 4,868,076
CREDITORS: Amounts falling due more than one year (3,527,297) (4,444,996)
Net Assets (liabilities) 1,553,927 726,360
Capital and Reserves 1,553,927 726,360
For the year ending 31/12/2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. For the year ending 31-12-2024 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit for the year in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the small companies provisions and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
Approved by the board of directors on 19 March 2025 2025-03-19 and signed on behalf of the board,
.............................
H Grewal
Director
Company registration number: 10958572
Gemini Health Limited
Notes to the Financial Statements
For the year ended 31 December 2024

(1) General Information
The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is Ramsay Brown LLP, The Brentano Suite, Solar House, 915 High Road, North Finchley, N12 8QJ.

(2) Statement of compliance
These individual financial statements have been prepared in accordance with FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" Section 1A and Companies Act 2006, as applicable to companies subject to the small companies' regime.

(3) Significant Accounting Policies
Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

These financial statements for the year ended 31 December 2024 are the first financial statements that comply with FRS102. The date of transition is 1 January 2023.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. The company recognises revenue when the amount of revenue can be measured reliably, when it is probable that future economic benefits will flow to the entity and when specific criteria have been met as described below.
Financial instruments
The company has elected to apply the provisions of Section 11'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Investment property
Investment properties are included in the balance sheet at their open market value in accordance with the Financial Reporting Standard (FRS 102) and are not depreciated. This treatment is contrary to the Companies Act 2006 which states that fixed assets should be depreciated but is, in the opinion of the directors, necessary in order to give a true and fair view of the financial position of the company.

Investment property which is property held to earn rentals and/or for capital appreciation is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revaluation is recognised in profit and loss account.

(4) Employees
During the year, the average number of employees including director was 2 (2023 : 2).

(5) Tax
Taxation expense represents the aggregate amount of current tax and deferred tax recognised in the reporting period.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit before tax as reported in the income statement because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2024 2023
£ £
Corporation tax charge for current year 236,457 19,129
Total current tax 236,457 19,129
Deferred tax
A deferred tax asset or liability is recognised for tax recoverable or payable in future periods in respect of transactions and events recognised in the financial statements of current and previous periods.

Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. Timing differences result from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date apart from certain exceptions. Unrelieved tax losses and other deferred tax assets are only 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.

Deferred tax liabilities and assets are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period.

Provisions for liabilities
Prior to adoption of FRS 102, there was no requirement to provide for deferred tax on revalued assets until there is a binding agreement to sell the assets. Under FRS 102 however, there is no special treatment for revaluations, they are treated as giving rise to timing differences.

Consequently a deferred tax provision of £1,250 (2023: £303,281) has been made to reflect this.
2024 2023
£ £
Origination and reversal of timing differences -1,250 -303,281
Total deferred tax -1,250 -303,281
Total tax (credit)/charge for the year 235,206 -284,152

(6) Investment Property
Leasehold Properties
£
Cost
As at 01 January 20244,840,368
Additions(5,002)
As at 31 December 20244,835,366
Depreciation
As at 31 December 2024-
Net book value
As at 31 December 20244,835,366
As at 31 December 20234,840,368

(7) Debtors
Amounts falling due within one year
2024 2023
£ £
Trade debtors 65,633 54,778
Prepayments and accrued income 7,988 7,112
73,621 61,890

(8) Creditors: Amounts falling due within one year
2024 2023
£ £
Trade creditors 22,342 23,814
Bank loans and overdrafts 37,660 36,167
Other taxes and social security 15,589 7,128
Accruals and deferred income 5,304 7,995
80,895 75,104

(9) Creditors: Amounts falling due after more than one year
2024 2023
£ £
Bank loans and overdrafts 2,095,000 2,095,000
Other creditors 1,432,297 2,349,996
3,527,297 4,444,996

(10) Share capital and reserves
Alloted, called up and fully paid: 2024 2023
£ £
1,000 (2023 : 1,000) Ordinary Shares of £ 1 each1,0001,000
1,000 1,000
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.
Retained earnings 2024
£
At 1 January 2024 1,944,852
Profit of the year 827,567
At 31 December 2024 2,772,419

(11) Investment property
The investment properties above (see Note 6) have been shown at fair value as at the balance sheet date which have been valued by the director. If investment properties were stated on historical basis rather than fair value basis, the amounts would have been £6,054,858 (2023: £6,059,859).

Revaluation of investment properties
Prior to adoption of FRS 102, property revaluation gains/ losses were reflected in the revaluation reserve. Under s 1Ac.22, Investment Properties, property gains/losses are reflected in the profit and loss account. Revaluation surplus or deficit is transferred to profit and loss account in accordance with the Financial Reporting Standard FRS 102.