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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period |
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1 April 2019 to 19 February 2020 |
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for |
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Gemini Petfoods Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Period |
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1 April 2019 to 19 February 2020 |
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for |
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Gemini Petfoods Limited |
Gemini Petfoods Limited (Registered number: 02040107) |
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Contents of the Financial Statements |
for the Period 1 April 2019 to 19 February 2020 |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Chartered Certified Accountants' Report | 11 |
Gemini Petfoods Limited |
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Company Information |
for the Period 1 April 2019 to 19 February 2020 |
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DIRECTORS: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Certified Accountants |
Beechey House |
87 Church Street |
Crowthorne |
Berkshire |
RG45 7AW |
Gemini Petfoods Limited (Registered number: 02040107) |
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Balance Sheet |
19 February 2020 |
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19.2.20 | 31.3.19 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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SHAREHOLDERS' FUNDS |
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The directors acknowledge their responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Gemini Petfoods Limited (Registered number: 02040107) |
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Balance Sheet - continued |
19 February 2020 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved and authorised for issue by the Board of Directors on
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Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements |
for the Period 1 April 2019 to 19 February 2020 |
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1. | STATUTORY INFORMATION |
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Gemini Petfoods Limited is a
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The company's registered number and registered office address can be found on the Company |
Information page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Significant judgements and estimates |
Judgements in applying accounting policies and key sources of estimation uncertainty |
In the application of the Company's accounting policies, management is required to make |
judgement, estimates and assumptions about the carrying values of assets and liabilities that are not |
readily apparent from other sources. The estimates and underlying assumptions are based on |
historical experience and other factors that are considered to be relevant. Actual results may differ |
from these estimates. |
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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 if the revision |
affects only that period, or in the period of the revision and future periods if the revision affects both |
current and future periods. |
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(a) Critical accounting estimates and assumptions |
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The company makes estimates and assumptions concerning the future. The resulting accounting |
estimates will seldom equal the related actual results. The estimates and assumptions that have a |
significant risk of causing material adjustment to the carrying amounts of assets and liabilities within |
the next financial year are addressed below: |
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(i) Useful economic lives of tangible assets |
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The annual depreciation charge for tangible assets is sensitive to changes in the estimated useful |
economic lives and residual values of the assets. The useful economic lives and residual values are |
re-assessed annually. They are amended when necessary to reflect current estimates based on |
physical condition and economic utilisation of the assets. See note 7 for the carrying amount of the |
assets and the accounting policies note Tangible Fixed Assets for the useful economic lives of each |
class of asset. |
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Turnover |
Turnover 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, and value added tax . |
Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2019 to 19 February 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Tangible fixed assets |
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Freehold property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Tangible fixed assets under the cost model are stated at historical cost less accumulated |
depreciation and any accumulated impairment losses. Historical cost includes expenditure that is |
directly attributable to bringing the asset to the location and condition necessary for it to be capable |
of operating in the manner intended by the management. |
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At each balance sheet date, the Company reviews the carrying amounts of its Tangible Fixed Assets |
to determine whether there is any indication that any items have suffered an impairment loss. If any |
such indication exists, the recoverable amount of an asset is estimated in order to determine the |
extent of the impairment loss, if any. |
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If the recoverable amount of an asset is estimated to be less than its carrying amount, the carrying |
amount of the asset is reduced to its recoverable amount. Impairment loss is recognised as an |
expense immediately. |
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Where an impairment loss subsequently reverses, the carrying amount of the asset is increased to |
the revised estimate of its recoverable amount, to the extent that the increased carrying amount |
does not exceed the carrying amount that would have been determined (net of depreciation) had no |
impairment loss been recognised for the asset in prior years. A reversal of an impairment loss is |
recognised as income. |
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Stocks |
Stocks are stated at the lower of cost and estimated selling price, after making due allowance for |
obsolete and slow moving items. |
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At each reporting date an assessment is made for impairment. Any excess of the carrying value over |
its estimated selling price is recognised as an impairment loss in the profit and loss. Any reversals of |
impairments are recognised in the same manner. |
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Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2019 to 19 February 2020 |
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2. | ACCOUNTING POLICIES - continued |
Taxation |
The tax expense for the year comprises current and deferred tax. Tax is recognised in the Income |
statement, except that a change attributable to an item of income and expense recognised as other |
comprehensive income or to an item recognised directly in equity is also recognised in other |
comprehensive income or directly in equity respectively. |
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The current income tax charge is calculated on the basis of tax rates and laws that have been |
enacted or substantively enacted by the reporting date in the countries where the company |
operates and generates income. |
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Deferred tax balances are recognised in respect of all timing differences that have originated but not |
reversed by the Statement of financial position date, except that: |
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- The recognition of deferred tax assets is limited to the extent that it is probable that they will be |
recovered against the reversal of deferred tax liabilities or other future taxable profits; and |
- Any deferred tax balances are reversed if and when all conditions for retaining associated tax |
allowances have been met. |
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Deferred tax balances are not recognised in respect of permanent differences except in respect of |
business combinations, when deferred tax is recognised on the differences between the fair values |
of assets acquired and the future tax deductions available for them and the differences between the |
fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is |
determined using tax rates and laws that have been enacted or substantively enacted by the |
reporting date. |
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Hire purchase and leasing commitments |
Rentals payable under operating leases, including any lease incentives received, are charged to the |
income statement on a straight line basis over the term of the relevant lease unless there is an |
alternative pattern in which economic benefits from the leased assets are consumed. |
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Pension costs and other post-retirement benefits |
The company contributes to defined contribution pension schemes for its staff. Contributions |
charged to the defined contribution scheme are charged to the income statements when they |
become payable. The assets of the scheme are held separately from those of the Company in an |
independently administered fund. |
Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2019 to 19 February 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Related parties |
For the purposes of these financial statements, a party is considered to be related to the Company if |
any of the following are applicable :- |
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(1) The party has the ability, directly or indirectly, through one or more intermediaries, to control |
the Company or exercise significant influence over the company in making financial and operating |
policy decisions, or has joint control over the Company. |
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(2) The Company and the party are subject to common control |
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(3) The party is an associate of the Company |
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(4) The party is a member of key management personnel of the Company or the Company's parent, |
or a close family member of such an individual. |
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(5) The party is a post - employment benefit plan which is for the benefit of employees of the |
Company or of any entity that is a related party of the Company. |
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Cash and Cash Equivalents |
Cash is represented by cash equivalents and cash in hand 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 form the date of acquisition and that are readily |
convertible to known amounts of cash with insignificant risk of change in value. |
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Finance costs |
Finance costs are charged to the Income Statement over the term of the debt using the effective |
interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs |
are initially recognised as a reduction in the proceeds of the associated capital instrument. |
Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2019 to 19 February 2020 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
The company has elected to apply the provisions of Section 11' Basic Financial Instruments' and |
Section 12 ' Other Financial Instruments Issues ' of FRS 102 to all of its financial instruments. |
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Financial instruments are recognised in the company's balance sheet when the company becomes |
party to the contractual provisions of the instrument. |
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Financial assets and liabilities are offset, with the net amounts presented in the financial statements |
when there is a legally enforceable right to set off the recognised amounts and there is an intention |
to settle on a net basis or the realise the asset and settle the liability simultaneously. |
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Impairment of financial assets |
Financial assets, other than those held at fair value through profit and loss, are assessed for |
indicators of impairment at each reporting end date. |
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Financial assets are impaired where there is objective evidence that, as a result of one or more |
events that occurred after the initial recognition of the financial asset, the estimated future cash |
flows have been affected. The impairment loss is recognised in the income statement. |
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Derecognition of financial assets |
Financial assets are derecognised only when the contractual rights to the cash flows from the asset |
expire or are settled, or when the the company transfers the financial asset and substantially all the |
risks and rewards of ownership to another entity, or if some significant risks and rewards of |
ownership are retained but control of the asset has transferred to another party that is able to sell |
the asset in its entirety to an unrelated third party. |
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Financial liabilities |
Trade payables are obligations to pay for goods or services that have been acquired in the ordinary |
course of business from suppliers. Accounts payable are classified as current liabilities if payment is |
due within one year or less. if not, they are presented as non-current liabilities. Trade payables with |
no stated interest rate or payable within one year are recorded at transaction price. Any losses |
arising from impairment are recognised in the income statement in administrative expenses. |
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Derecognition of financial liabilities |
Financial liabilities are derecognised when the company's contractual obligations expire or are |
discharged or cancelled. |
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Equity instruments |
Equity instruments issued by the company are recorded at the proceeds received, net of direct issue |
costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer |
at the discretion of the company. |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the period was
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Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2019 to 19 February 2020 |
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4. | TANGIBLE FIXED ASSETS |
Fixtures |
Freehold | Plant and | and |
property | machinery | fittings | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2019 |
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Disposals | ( |
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At 19 February 2020 |
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DEPRECIATION |
At 1 April 2019 |
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Eliminated on disposal | ( |
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At 19 February 2020 |
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NET BOOK VALUE |
At 19 February 2020 |
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At 31 March 2019 |
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5. | FIXED ASSET INVESTMENTS |
Other |
investments |
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COST |
At 1 April 2019 |
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Disposals | ( |
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At 19 February 2020 |
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NET BOOK VALUE |
At 19 February 2020 |
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At 31 March 2019 |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
19.2.20 | 31.3.19 |
£ | £ |
Other debtors |
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Gemini Petfoods Limited (Registered number: 02040107) |
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Notes to the Financial Statements - continued |
for the Period 1 April 2019 to 19 February 2020 |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
19.2.20 | 31.3.19 |
£ | £ |
Trade creditors |
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Taxation and social security |
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Other creditors |
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8. | LEASING AGREEMENTS |
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Minimum lease payments under non-cancellable operating leases fall due as follows: |
19.2.20 | 31.3.19 |
£ | £ |
Within one year |
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Chartered Certified Accountants' Report to the Board of Directors |
on the Unaudited Financial Statements of |
Gemini Petfoods Limited |
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The following reproduces the text of the report prepared for the directors in respect of the company's |
annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only |
required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other |
primary statements and the Report of the Directors are not required to be filed with the Registrar of |
Companies. |
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In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your |
approval the financial statements of Gemini Petfoods Limited for the period ended 19 February 2020 which |
comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in |
Equity and the related notes from the company's accounting records and from information and |
explanations you have given us. |
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As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook. |
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This report is made solely to the Board of Directors of Gemini Petfoods Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Gemini Petfoods Limited and state those matters that we have agreed to state to the Board of Directors of Gemini Petfoods Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report. |
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It is your duty to ensure that Gemini Petfoods Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Gemini Petfoods Limited. You consider that Gemini Petfoods Limited is exempt from the statutory audit requirement for the period. |
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We have not been instructed to carry out an audit or a review of the financial statements of Gemini Petfoods Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements. |
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Chartered Certified Accountants |
Beechey House |
87 Church Street |
Crowthorne |
Berkshire |
RG45 7AW |
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