1 September 2023 v2025.32.1 limited_company_frs_102_section_1a_v1_1_2 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP033018362023-09-012024-08-31033018362024-08-31033018362023-08-3103301836core:WithinOneYear2024-08-3103301836core:WithinOneYear2023-08-3103301836core:ShareCapital2024-08-3103301836core:ShareCapital2023-08-3103301836core:SharePremium2024-08-3103301836core:SharePremium2023-08-3103301836core:RetainedEarningsAccumulatedLosses2024-08-3103301836core:RetainedEarningsAccumulatedLosses2023-08-3103301836bus:Director12023-09-012024-08-3103301836bus:RegisteredOffice2023-09-012024-08-3103301836core:FurnitureFittings2023-09-012024-08-3103301836core:OfficeEquipment2023-09-012024-08-31033018362022-09-012023-08-3103301836core:PlantMachinery2023-09-0103301836core:PlantMachinery2023-09-012024-08-3103301836core:PlantMachinery2024-08-3103301836core:PlantMachinery2023-08-310330183612023-09-012024-08-3103301836countries:EnglandWales2023-09-012024-08-3103301836bus:AuditExemptWithAccountantsReport2023-09-012024-08-3103301836bus:PrivateLimitedCompanyLtd2023-09-012024-08-3103301836bus:SmallEntities2023-09-012024-08-3103301836bus:FullAccounts2023-09-012024-08-31
Company registration number:
03301836
Gemini International Ltd
Unaudited Filleted Financial Statements for the year ended
31 August 2024
Gemini International Ltd
Report to the board of directors on the preparation of the unaudited statutory financial statements of Gemini International Ltd
Year ended
31 August 2024
As described on the statement of financial position, the board of directors of
Gemini International Ltd
are responsible for the preparation of the
financial statements
for the year ended
31 August 2024
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited
financial statements
in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
Mark Kelly
Gemini International Ltd
Statement of Financial Position
31 August 2024
20242023
Note££
Fixed assets    
Tangible assets 5
3,987
 
4,198
 
Current assets    
Debtors 6
(65
)
5,670
 
Cash at bank and in hand
117
 
40
 
52
 
5,710
 
Creditors: amounts falling due within one year 7
(22,748
)
(7,453
)
Net current liabilities
(22,696
)
(1,743
)
Total assets less current liabilities (18,709 ) 2,455  
Capital and reserves    
Called up share capital
182
 
182
 
Share premium
74,980
 
74,980
 
Profit and loss account
(93,871
)
(72,707
)
Shareholders (deficit)/funds
(18,709
)
2,455
 
For the year ending
31 August 2024
, 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 financial statements for the year in question 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 financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
31 May 2025
, and are signed on behalf of the board by:
M Kelly
Director
Company registration number:
03301836
Gemini International Ltd
Notes to the Financial Statements
Year ended
31 August 2024

1 General information

Gemini International Limited is a private company limited by shares and is registered and incorporated in England and Wales. The address of the registered office is
28 Lady Meadow Close
,
Denstone
,
Uttoxeter
,
Staffordshire
,
ST14 5EY
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

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 £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

Going concern

Despite the company recording a loss for the current financial year, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The directors have prepared cash flow forecasts and have considered the company's current financial position, as well as the potential for future revenue generation and cost management strategies. Based on this assessment, the directors believe that it is appropriate to prepare the financial statements on a going concern basis. The directors are confident that the company will be able to meet its obligations as they fall due and continue its operations without significant curtailment.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for 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.
Revenue from contracts for the provision of professional services is recognised by reference to the stage of completion when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.

Tangible assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
20% straight line
Office equipment
25% straight line

Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.

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.

Cash and cash equivalents

Cash and cash equivalents are basic financial instruments and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2023:
2
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 September 2023
19,576
 
Additions
777
 
At
31 August 2024
20,353
 
Depreciation  
At
1 September 2023
15,378
 
Charge
988
 
At
31 August 2024
16,366
 
Carrying amount  
At
31 August 2024
3,987
 
At 31 August 2023
4,198
 

6 Debtors

20242023
££
Trade debtors
30
 
229
 
Other debtors
(95
)
5,441
 
(65
)
5,670
 

7 Creditors: amounts falling due within one year

20242023
££
Bank loans and overdrafts
4,873
  -  
Taxation and social security
(75
)
(113
)
Other creditors
17,950
 
7,566
 
22,748
 
7,453