ACCOUNTS - Final Accounts preparation

Registered number: 14722498

GEMINI FM LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2024

GEMINI FM LTD

REGISTERED NUMBER: 14722498

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2024

		2024		2023
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	222,145		3,245
Cash at bank and in hand	5	52,460		1
		274,605		3,246
Creditors: amounts falling due within one year	6	(297,195)		(3,432)
Net current liabilities			(22,590)		(186)
Total assets less current liabilities			(22,590)		(186)

Net liabilities			(22,590)		(186)

Capital and reserves
Called up share capital	7	1	1
Profit and loss account		(22,591)	(187)
		(22,590)	(186)

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GEMINI FM LTD

REGISTERED NUMBER: 14722498

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 DECEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by:

F C Mangu

Director

Date: 29 September 2025

The notes on pages 3 to 6 form part of these financial statements.

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GEMINI FM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

1.	General information

Gemini FM Ltd is a private company, limited by shares, incorporated in England and Wales, registration number 14722498. The registered office is 6th Floor, 2 London Wall Place, London, EC2Y 5AU.

The financial statement are prepared for 12 month period 1 January 2024 to 31 December 2024, whereas the comparatives are for 10 months for the period 10 March 2023 to 31 December 2023.
The principal activity of the company is administering and maintaining the commercial properties within the group.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 presented in £ sterling, the functional currency, rounded to the nearest £1.

Gemini FM Ltd is the subsidiary company of a small group. The parent company is not required to prepare and has not prepared group accounts.

The following principal accounting policies have been applied:

2.2

Going concern

At 31 December 2024, the company had net current liabilities of £22,590 (2023: £186) and total net liabilities of £22,590 (2023: £186). The financial statements have been prepared on a going concern basis as WIF Enterprise Limited, the parent entity, has confirmed thier willingness and ability to support the company for at least twelve months from the date of approval of the financial statements.

2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

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GEMINI FM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.5

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Basic financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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GEMINI FM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

2.Accounting policies (continued)

2.8

Financial instruments (continued)

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Employees

The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Debtors

					2024	2023
					£	£


Trade debtors	37,714	-
Amounts owed by group undertakings	-	3,216
Other debtors	179,703	29
Prepayments and accrued income	4,728	-
	222,145	3,245

5.	Cash and cash equivalents
		2024	2023
		£	£

	Cash at bank and in hand	52,460	1

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GEMINI FM LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

6.	Creditors: Amounts falling due within one year
		2024	2023
		£	£

Trade creditors	46,230	768
Amounts owed to group undertakings	26,911	2,664
Accruals and deferred income	224,054	-
	297,195	3,432

7.	Share capital
		2024	2023
		£	£

Allotted, called up and fully paid

100 (2023 - 100) Ordinary shares of £0.01 each	1	1

8.	Related party transactions
	The company has taken advantage of the exemption available of Financial Reporting Standard 102 Section 33 whereby it has not disclosed transactions with any wholly owned subsidiaries of WIF Enterprise Limited.

9.	Parent entity

The ultimate controlling party is WIF Enterprise Limited. The company is a wholly owned subsidiary of WIF Enterprise Limited, the parent entity, incorporated in England and Wales.

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