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GAIETY BAZAAR LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST DECEMBER 2021






GAIETY BAZAAR LIMITED (REGISTERED NUMBER: 04625960)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

GAIETY BAZAAR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST DECEMBER 2021







DIRECTORS: Mr A S Wood
Mrs J C Wood



SECRETARY: Mr A S Wood



REGISTERED OFFICE: Charter House
105 Leigh Road
Leigh on Sea
Essex
SS9 1JL



REGISTERED NUMBER: 04625960 (England and Wales)



ACCOUNTANTS: Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL



BANKERS: Santander
Customer Service Centre
Bootle
Merseyside
L30 4GB

GAIETY BAZAAR LIMITED (REGISTERED NUMBER: 04625960)

BALANCE SHEET
31ST DECEMBER 2021

2021 2020
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 147 195
147 195

CURRENT ASSETS
Stocks 70,846 66,908
Debtors 6 1,217 1,204
Cash at bank and in hand 13,307 14,048
85,370 82,160
CREDITORS
Amounts falling due within one year 7 57,370 66,159
NET CURRENT ASSETS 28,000 16,001
TOTAL ASSETS LESS CURRENT
LIABILITIES

28,147

16,196

PROVISIONS FOR LIABILITIES 28 37
NET ASSETS 28,119 16,159

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 28,117 16,157
SHAREHOLDERS' FUNDS 28,119 16,159

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2021 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.

GAIETY BAZAAR LIMITED (REGISTERED NUMBER: 04625960)

BALANCE SHEET - continued
31ST DECEMBER 2021


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 Board of Directors and authorised for issue on 9th September 2022 and were signed on its behalf by:





Mr A S Wood - Director


GAIETY BAZAAR LIMITED (REGISTERED NUMBER: 04625960)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST DECEMBER 2021

1. STATUTORY INFORMATION

Gaiety Bazaar 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 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 2002, was amortised evenly over its estimated useful life of ten 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.
Plant and machinery - 25% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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 balance sheet date.


GAIETY BAZAAR LIMITED (REGISTERED NUMBER: 04625960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2020 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1st January 2021
and 31st December 2021 50,000
AMORTISATION
At 1st January 2021
and 31st December 2021 50,000
NET BOOK VALUE
At 31st December 2021 -
At 31st December 2020 -

GAIETY BAZAAR LIMITED (REGISTERED NUMBER: 04625960)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST DECEMBER 2021

5. TANGIBLE FIXED ASSETS
Plant and
machinery
£   
COST
At 1st January 2021
and 31st December 2021 3,457
DEPRECIATION
At 1st January 2021 3,262
Charge for year 48
At 31st December 2021 3,310
NET BOOK VALUE
At 31st December 2021 147
At 31st December 2020 195

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Prepayments 1,217 1,204

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2021 2020
£    £   
Trade creditors 187 90
Corporation tax 7,506 4,439
Social security and other taxes 2,279 1,517
Directors' current accounts 46,312 59,103
Accrued expenses 1,086 1,010
57,370 66,159

8. RELATED PARTY DISCLOSURES

The business premises are owned by one of the directors. During the year, the company charged the director rent of £16,000 (2020 - £16,000).

9. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors.

GAIETY BAZAAR LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
GAIETY BAZAAR LIMITED

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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2021 set out on pages three to eight and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Clouders
Chartered Certified Accountants
Charter House
103-105 Leigh Road
Leigh-on-Sea
Essex
SS9 1JL


9th September 2022