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Company Registration No. 08255282 (England and Wales)
Dr Gaye Limited Unaudited accounts for the year ended 31 October 2021
Dr Gaye Limited Unaudited accounts Contents
Page
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Dr Gaye Limited Company Information for the year ended 31 October 2021
Directors
Mr P Easterbrook Dr M Gaye
Company Number
08255282 (England and Wales)
Registered Office
Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
Accountants
Balmoral Consultancy Services Limited Congress House 14 Lyon Road Harrow Middlesex HA1 2EN
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Dr Gaye Limited Statement of financial position as at 31 October 2021
2021 
2020 
Notes
£ 
£ 
Fixed assets
Tangible assets
655 
874 
Current assets
Inventories
4,800 
4,800 
Debtors
434 
3,807 
Cash at bank and in hand
428 
816 
5,662 
9,423 
Creditors: amounts falling due within one year
(19,861)
(4,893)
Net current (liabilities)/assets
(14,199)
4,530 
Total assets less current liabilities
(13,544)
5,404 
Creditors: amounts falling due after more than one year
(38,333)
(50,000)
Net liabilities
(51,877)
(44,596)
Capital and reserves
Called up share capital
200 
200 
Share premium
24,950 
24,950 
Profit and loss account
(77,027)
(69,746)
Shareholders' funds
(51,877)
(44,596)
For the year ending 31 October 2021 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 15 August 2022 and were signed on its behalf by
Mr P Easterbrook Director Company Registration No. 08255282
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Dr Gaye Limited Notes to the Accounts for the year ended 31 October 2021
1
Statutory information
Dr Gaye Limited is a private company, limited by shares, registered in England and Wales, registration number 08255282. The registered office is Congress House, 14 Lyon Road, Harrow, Middlesex, HA1 2EN.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
Whilst the company is in a net liabilities position, it retains the support of its shareholders and as such the directors consider it appropriate to prepare the accounts on a going concern basis.
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: Sale of goods Revenue from the sale of goods is recognised when all of the following conditions are satisfied: 1. the Company has transferred the significant risks and rewards of ownership to the buyer; 2. the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; 3. the amount of revenue can be measured reliably; 4. it is probable that the Company will receive the consideration due under the transaction; and 5. the costs incurred or to be incurred in respect of the transaction can be measured reliably
Interest income
Interest Income is recognised in profit and loss using the effective Interest method.
Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
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Dr Gaye Limited Notes to the Accounts for the year ended 31 October 2021
Tangible fixed assets
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 management. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis. Depreciation is provided on the following basis: Office equipment - 25% reducing balance Computer equipment - 25% reducing balance The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date. Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Stocks
Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads. At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
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.
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.
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.
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Dr Gaye Limited Notes to the Accounts for the year ended 31 October 2021
4
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2020
436 
3,500 
3,936 
At 31 October 2021
436 
3,500 
3,936 
Depreciation
At 1 November 2020
392 
2,670 
3,062 
Charge for the year
11 
208 
219 
At 31 October 2021
403 
2,878 
3,281 
Net book value
At 31 October 2021
33 
622 
655 
At 31 October 2020
44 
830 
874 
5
Debtors: amounts falling due within one year
2021 
2020 
£ 
£ 
Other debtors
434 
3,807 
6
Creditors: amounts falling due within one year
2021 
2020 
£ 
£ 
Bank loans and overdrafts
10,000 
- 
Trade creditors
1,648 
3,093 
Loans from directors
6,713 
- 
Accruals
1,500 
1,800 
19,861 
4,893 
7
Creditors: amounts falling due after more than one year
2021 
2020 
£ 
£ 
Bank loans
38,333 
50,000 
8
Loans to directors
Included in creditors is an amount of £6,713 (2020: £3,588 due from) due to the directors of the company. This loan is unsecured, interest free and repayable on demand.
9
Controlling party
During the year under review, the company was under the joint control of Dr M Gaye & Mr P Easterbrook by virtue of their shareholding.
10
Average number of employees
During the year the average number of employees was 2 (2020: 2).
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