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REGISTERED NUMBER: 04893296 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2024

for

Gemini Enterprises Limited

Gemini Enterprises Limited (Registered number: 04893296)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Gemini Enterprises Limited

Company Information
for the Year Ended 30 September 2024







DIRECTORS: M C Buckland
Mrs J P S Yeo





REGISTERED OFFICE: Maisonette
73 Talbot Road
London
W2 5JL





REGISTERED NUMBER: 04893296 (England and Wales)





ACCOUNTANTS: Equifino Ltd
Ivy Court
61 High Street
Nailsea
Bristol
BS48 1AW

Gemini Enterprises Limited (Registered number: 04893296)

Balance Sheet
30 September 2024

30.9.24 30.9.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - 325
Investment property 5 1,754,338 1,144,361
1,754,338 1,144,686

CURRENT ASSETS
Cash at bank 21,051 177,464

CREDITORS
Amounts falling due within one year 6 77,109 75,884
NET CURRENT (LIABILITIES)/ASSETS (56,058 ) 101,580
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,698,280

1,246,266

CREDITORS
Amounts falling due after more than
one year

7

(1,036,944

)

(640,448

)

PROVISIONS FOR LIABILITIES (9,975 ) (9,975 )
NET ASSETS 651,361 595,843

CAPITAL AND RESERVES
Called up share capital 9 20 20
Fair value reserve 10 393,811 393,811
Retained earnings 257,530 202,012
SHAREHOLDERS' FUNDS 651,361 595,843

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

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Gemini Enterprises Limited (Registered number: 04893296)

Balance Sheet - continued
30 September 2024


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 Board of Directors and authorised for issue on 26 February 2025 and were signed on its behalf by:





M C Buckland - Director


Gemini Enterprises Limited (Registered number: 04893296)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Gemini Enterprises Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

Going concern
The financial statements have been prepared on a going concern basis. The directors have a reasonable expectation that despite the adverse UK economy, as a whole the company has adequate resources to continue in operational existence for the foreseeable future. On this basis, the directors have concluded that they can continue to adopt the going concern basis in preparing the financial statements.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 20% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Gemini Enterprises Limited (Registered number: 04893296)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

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 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, which include trade and other debtors, amounts due from group undertakings and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities, including trade and other creditors and amounts due to group undertakings 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. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they expire.

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 or deferred taxation assets and liabilities are not discounted.

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 balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

Gemini Enterprises Limited (Registered number: 04893296)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 October 2023
and 30 September 2024 13,677
DEPRECIATION
At 1 October 2023 13,352
Charge for year 325
At 30 September 2024 13,677
NET BOOK VALUE
At 30 September 2024 -
At 30 September 2023 325

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2023 1,144,361
Additions 609,977
At 30 September 2024 1,754,338
NET BOOK VALUE
At 30 September 2024 1,754,338
At 30 September 2023 1,144,361

Fair value at 30 September 2024 is represented by:
£   
Valuation in 2017 348,256
Valuation in 2020 45,555
Cost 1,360,527
1,754,338

In the opinion of the directors the fair value of the investment property as at 30 September 2024 was £1,754,338 (2023 - £1,144,361).

Gemini Enterprises Limited (Registered number: 04893296)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.9.24 30.9.23
£    £   
Tax 22,062 60,735
VAT - 8,663
Deposits held 3,036 4,476
Directors' current accounts 50,529 529
Accrued expenses 1,482 1,481
77,109 75,884

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
30.9.24 30.9.23
£    £   
Bank loans - 1-2 years 1,330 1,330
Other loans more 5yrs non-inst 1,035,614 639,118
1,036,944 640,448

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 1,035,614 639,118

8. SECURED DEBTS

The following secured debts are included within creditors:

30.9.24 30.9.23
£    £   
Mortgages 1,038,231 628,782

The mortgage is secured by way of charge over the rental income and proceed of sale of any property and a floating charge over the property assets

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 30.9.24 30.9.23
value: £    £   
10 A Ordinary 1 10 10
10 B Ordinary 1 10 10
20 20

Gemini Enterprises Limited (Registered number: 04893296)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. RESERVES
Fair
value
reserve
£   
At 1 October 2023
and 30 September 2024 393,811