Gemini Property Services Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: SC507625 (Scotland)

Unaudited Financial Statements for the Year Ended 30 June 2025

for

Gemini Property Services Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

R J A Mackinnon

REGISTERED OFFICE:

1 Drumdryan Street

Edinburgh

EH3 9JZ

REGISTERED NUMBER:

SC507625 (Scotland)

ACCOUNTANTS:

One Accounting Ltd

Chartered Management Accountants

Drumsheugh Toll

2 Belford Road

Edinburgh

Midlothian

EH4 3BL

CURRENT ASSETS

Debtors

6

160,894

159,200

Cash at bank

150,859

195,058

311,753

354,258

CREDITORS

Amounts falling due within one year

7

83,226

134,669

NET CURRENT ASSETS

228,527

219,589

TOTAL ASSETS LESS CURRENT
LIABILITIES

228,527

219,589

CAPITAL AND RESERVES

Called up share capital

2

Retained earnings

228,525

219,587

SHAREHOLDERS' FUNDS

228,527

219,589

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 December 2025 and were signed by:

R J A Mackinnon - Director

1.	STATUTORY INFORMATION

Gemini Property Services Limited is a private company, limited by shares , registered in Scotland. 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 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.

Turnover

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

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2015, is being amortised evenly over its estimated useful life of five years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

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.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on cost

Computer equipments

-

20% on cost

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties. Debt instruments, including loans and other accounts receivable and payable are initially measured at transaction price adjusted for transaction costs. They are subsequently recognised at amortised costs using the effective interest method.

Creditors payable within one year, typically trade payables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be paid. Debtors receivable within one year, typically trade receivables, are measured initially and subsequently at the undiscounted amount of the cash or other consideration expected to be received.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Hire purchase and 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 3 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 July 2024

and 30 June 2025

10,554

AMORTISATION

At 1 July 2024

and 30 June 2025

10,554

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipments

Totals

£

COST

At 1 July 2024

and 30 June 2025

1,670

54,513

744

56,927

DEPRECIATION

At 1 July 2024

and 30 June 2025

1,670

54,513

744

56,927

NET BOOK VALUE

At 30 June 2025

-

At 30 June 2024

-

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

Trade debtors

8,912

7,376

Other debtors

151,982

151,824

160,894

159,200

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.25

30.6.24

£

Trade creditors

3,137

2,611

Credit Cards

1,164

951

Tax

10,433

10,073

Social security and other taxes

894

844

VAT

4,945

7,410

Other creditors

5,000

6,296

Directors' loan accounts

54,928

103,759

Accrued expenses

2,725

83,226

134,669

8.	RELATED PARTY DISCLOSURES

During the year, total dividends of £29,000 (2024 - £29,000) were paid to the director .

From time to time the company enters into transactions with other companies under common control or in which significant influence is held by the directors. Where these transactions have been made under normal market conditions, specific details are not provided. The total amount due to the company at the period end was £150,900 (2024 £150,900) which is included in Other Debtors.

At the year end the director was due £54,927 (2024: £103,759) from the company. This loan is interest free and is repayable on demand.