Gemini Building Contractors Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 04608946 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

GEMINI BUILDING CONTRACTORS LIMITED

Page

Statement of Financial Position

1

Notes to the Financial Statements

3

FIXED ASSETS

Intangible assets

4

-

Property, plant and equipment

5

51,701

22,705

51,701

22,705

CURRENT ASSETS

Inventories

88,111

462,850

Debtors

6

565,671

161,265

Cash at bank and in hand

215,807

423,863

869,589

1,047,978

CREDITORS

Amounts falling due within one year

7

176,592

257,326

NET CURRENT ASSETS

692,997

790,652

TOTAL ASSETS LESS CURRENT
LIABILITIES

744,698

813,357

CREDITORS

Amounts falling due after more than one year

8

(169,465

)

(214,495

)

PROVISIONS FOR LIABILITIES

10

(1,887

)

(2,265

)

NET ASSETS

573,346

596,597

CAPITAL AND RESERVES

Called up share capital

1,000

Retained earnings

572,346

595,597

573,346

596,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 23 December 2025 and were signed by:

Mr G Fenn - Director

1.	STATUTORY INFORMATION

Gemini Building Contractors Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

04608946

Registered office:

1 Kings Avenue

London

N21 3NA

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period or in the period of the revision and future periods where the revision affects both current and future periods.

Revenue

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax.

Revenue is recognised when services are rendered to the customers.

Property, plant and equipment

Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. Such cost includes costs directly attributable to making the assets capable of operating as intended.

The carrying value of tangible assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives.

Plant and machinery - 15% on reducing balance

Fixtures and fittings - 15% on reducing balance

Motor vehicle - 20% on reducing balance

The company has adopted the policy of not depreciating the short leasehold assets.

The company has adopted the policy of not depreciating the assets in the first year, however full depreciation is provided in the year of disposal.

Inventories

Inventories are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of inventory sold is recognised as an expense in the period in which the related revenue is recognised.

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 material 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

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

Cash and cash equivalents

Cash and cash equivalents in the statement of financial position comprise cash at banks and in hand, short term deposits with an original maturity date of one month. Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and that are subject to an insignificant risk of changes in value.

Financial instruments

Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.

Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit and loss.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2024

and 31 December 2024

2,500

AMORTISATION

At 1 January 2024

and 31 December 2024

2,500

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

The director considers the fair value of the intangible assets to be as stated in the financial statements.

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Short

Plant and

and

Motor

leasehold

machinery

fittings

vehicles

Totals

£

COST

At 1 January 2024

10,784

6,690

21,497

25,803

64,774

Additions

-

30,988

-

30,988

At 31 December 2024

10,784

6,690

52,485

25,803

95,762

DEPRECIATION

At 1 January 2024

-

2,582

17,762

21,725

42,069

Charge for year

-

616

560

816

1,992

At 31 December 2024

-

3,198

18,322

22,541

44,061

NET BOOK VALUE

At 31 December 2024

10,784

3,492

34,163

3,262

51,701

At 31 December 2023

10,784

4,108

3,735

4,078

22,705

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

53,367

160,333

Other debtors

512,304

932

565,671

161,265

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

45,030

Trade creditors

29,996

34,481

Taxation and social security

35,195

74,569

Other creditors

66,371

103,246

176,592

257,326

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans

169,465

214,495

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loan

14,167

24,167

Bank loan is secured by way of fixed and floating charge on the property and other assets of the company and contains a negative pledge.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

1,887

2,265

Deferred

tax

£

Balance at 1 January 2024

2,265

Provided during year

(378

)

Balance at 31 December 2024

1,887

11.	RELATED PARTY DISCLOSURES

Included in other creditors less than one year is an amount of £59,613 (2023: £60,015) due to the director of the company. This amount was interest-free and repayable on demand.

Included in other debtors less than one year is an amount of £446,500 (2023: Nil) due from the connected companies with common directorship and shareholdings. This amount was interest-fee and repayable on demand.