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Registered Number: 07318860
England and Wales

 

 

 

GEMINI WHOLESALERS LIMITED



Unaudited Financial Statements
 


Period of accounts

Start date: 01 December 2022

End date: 30 November 2023
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 4 903,390    2,511,195 
903,390    2,511,195 
Current assets      
Cash at bank and in hand 18,186    25,301 
Creditors: amount falling due within one year 5   (571,680)
Net current assets 18,186    (546,379)
 
Total assets less current liabilities 921,576    1,964,816 
Creditors: amount falling due after more than one year 6 (1,358,172)   (1,975,000)
Net assets (436,596)   (10,184)
 

Capital and reserves
     
Called up share capital 10,000    10,000 
Reserves 7   224,900 
Profit and loss account (446,596)   (245,084)
Shareholders' funds (436,596)   (10,184)
 


For the year ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.
The financial statements were approved by the director on 17 January 2025 and were signed by:


-------------------------------
N Aggrawal
Director
1
General Information
Gemini Wholesalers Limited is a private company, limited by shares, registered in England and Wales, registration number 07318860, registration address Unit 14 Wedgwood Court, Off Wedgwood Way,, Stevenage, Hertfordshire, SG1 4QR.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Group accounts
The company is a parent company subject to the small companies regime. The company and its subsidiary comprise a small group. The company has, therefore, taken advantage of the option provided by section 398 of the Companies Act 2006 not to prepare group accounts.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
Research and development expenditure
Research and development expenditure is charged to the income statement in the period in which it is incurred.
Preference dividends
Where preference shares are classed as liabilities rather than equity any preference dividends paid are included in interest payable and similar charges within the income statement.
Goodwill
Acquired goodwill is stated at cost less amortisation. Amortisation is calculated on a straight line basis over the estimated expected useful economic life of the goodwill of years.
2.

Average number of employees

Average number of employees during the year was 0 (2022 : 0).
3.

Intangible fixed assets

Cost Goodwill   Total
  £   £
At 01 December 2022 375,308    375,308 
Additions  
Disposals  
Transfers (375,308)   (375,308)
At 30 November 2023  
Net book values
At 30 November 2023  
At 30 November 2022 375,308    375,308 


4.

Tangible fixed assets

Cost or valuation Land and Buildings   Plant and Machinery   Fixtures and Fittings   Investment properties   Total
  £   £   £   £   £
At 01 December 2022       2,511,195    2,511,195 
Additions        
Disposals       (1,500,000)   (1,500,000)
Revaluations (107,805)         (107,805)
At 30 November 2023 (107,805)       1,011,195    903,390 
Depreciation
At 01 December 2022        
Charge for year        
On disposals        
At 30 November 2023        
Net book values
Closing balance as at 30 November 2023 (107,805)       1,011,195    903,390 
Opening balance as at 01 December 2022       2,511,195    2,511,195 


5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Other Debtors  
 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
PAYE & Social Security   6,885 
Accrued Expenses   22,567 
Other Creditors   25,006 
Directors' Current Accounts   517,222 
  571,680 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts (secured) 398,877   
Bank Loans & Overdrafts 959,295    1,975,000 
1,358,172    1,975,000 

8.

Reserves

2023
£
  2022
£
Revaluation Reserve b/fwd   224,900 
  224,900 

2