REGISTERED NUMBER: 10469376 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Gemini Electrical Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Welch

J W E Boyle

SECRETARY:

D M Welch

REGISTERED OFFICE:

13 Atley Way

Atley Business Park

Cramlington

Northumberland

NE23 1WP

REGISTERED NUMBER:

10469376 (England and Wales)

ACCOUNTANTS:

Clive Owen LLP

Chartered Accountants

Kepier House

Belmont Business Park

Durham

DH1 1TW

FIXED ASSETS

Tangible assets

4

153,172

45,159

CURRENT ASSETS

Stocks

89,570

69,320

Debtors

5

1,060,297

696,285

Cash at bank and in hand

1,144,910

354,616

2,294,777

1,120,221

CREDITORS

Amounts falling due within one year

6

(1,291,098

)

(550,122

)

NET CURRENT ASSETS

1,003,679

570,099

TOTAL ASSETS LESS CURRENT LIABILITIES

1,156,851

615,258

CREDITORS

Amounts falling due after more than one year

7

(87,063

)

(36,581

)

PROVISIONS FOR LIABILITIES

10

(37,790

)

(8,423

)

NET ASSETS

1,031,998

570,254

CAPITAL AND RESERVES

Called up share capital

11

420

420

Retained earnings

1,031,578

569,834

SHAREHOLDERS' FUNDS

1,031,998

570,254

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2025 and were signed on its behalf by:

M A Welch - Director

1.	STATUTORY INFORMATION

Gemini Electrical Services 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.

2.	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.

There were no material departures from that standard.

The principal accounting policies adopted in the preparation of the financial statements are set out below and have been consistently applied within the same accounts.

Turnover

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

Income recognition

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have passed to the buyer, usually on the completion of the installation.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

25% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Tangible fixed assets are measured at cost less depreciation and impairment.

Government grants

Revenue based grants have been credited to the profit and loss account in the period to which they relate. Capital based grants are accounted for using the accruals model and have been transferred to a deferred credit and released to the profit and loss account over the useful life of the asset.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Financial instruments

Basic financial instruments are recognised at amortised cost with changed recognised in profit and loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.

Leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2024 - 14 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

529

568

47,621

9,808

58,526

Additions

-

278

123,711

3,078

127,067

At 31 March 2025

529

846

171,332

12,886

185,593

DEPRECIATION

At 1 April 2024

529

283

4,089

8,466

13,367

Charge for year

-

92

17,686

1,276

19,054

At 31 March 2025

529

375

21,775

9,742

32,421

NET BOOK VALUE

At 31 March 2025

-

471

149,557

3,144

153,172

At 31 March 2024

-

285

43,532

1,342

45,159

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2024

33,671

Additions

79,105

At 31 March 2025

112,776

DEPRECIATION

At 1 April 2024

2,104

Charge for year

12,836

At 31 March 2025

14,940

NET BOOK VALUE

At 31 March 2025

97,836

At 31 March 2024

31,567

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

991,348

308,620

Other debtors

68,949

387,665

1,060,297

696,285

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

10,798

10,548

Hire purchase contracts (see note 8)

15,907

3,363

Trade creditors

609,777

453,465

Taxation and social security

80,190

-

Other creditors

573,168

80,728

Directors' current accounts

258

1,018

Accruals and deferred income

1,000

1,000

1,291,098

550,122

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

916

11,117

Hire purchase contracts (see note 8)

86,147

25,464

87,063

36,581

8.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

2025

2024

£

£

Net obligations repayable:

Within one year

15,907

3,363

Between one and five years

86,147

25,464

102,054

28,827

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire Purchase

102,054

28,827

Hire purchase contracts are secured over the assets to which they relate.

10.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

37,790

8,423

Deferred

tax

£

Balance at 1 April 2024

8,423

Accelerated capital allowances

29,367

Balance at 31 March 2025

37,790

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal value:

2025 £

2024 £

780

Ordinary A

£0.10

78

78

1020

Ordinary B

£0.10

102

102

200

Ordinary C

£0.10

20

20

2200

Ordinary D

£0.10

220

220

420

420

12.	RELATED PARTY DISCLOSURES

There were no related party transactions other than those concluded under normal market conditions, except for those shown below.

2025

2024

£

£

Amounts due to / (from) directors

258

1,018

No interest was charged.