Caseware UK (AP4) 2022.0.179 2022.0.179 2023-02-282023-02-284false2022-03-01The principal activity of the company during the period was that of the retail of fashion clothing and accessories.4truetrue 09636566 2022-03-01 2023-02-28 09636566 2021-03-01 2022-02-28 09636566 2023-02-28 09636566 2022-02-28 09636566 c:Director1 2022-03-01 2023-02-28 09636566 d:Buildings d:LongLeaseholdAssets 2022-03-01 2023-02-28 09636566 d:Buildings d:LongLeaseholdAssets 2023-02-28 09636566 d:Buildings d:LongLeaseholdAssets 2022-02-28 09636566 d:PlantMachinery 2022-03-01 2023-02-28 09636566 d:PlantMachinery 2023-02-28 09636566 d:PlantMachinery 2022-02-28 09636566 d:PlantMachinery d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09636566 d:FurnitureFittings 2022-03-01 2023-02-28 09636566 d:ComputerEquipment 2022-03-01 2023-02-28 09636566 d:ComputerEquipment 2023-02-28 09636566 d:ComputerEquipment 2022-02-28 09636566 d:ComputerEquipment d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09636566 d:OwnedOrFreeholdAssets 2022-03-01 2023-02-28 09636566 d:CurrentFinancialInstruments 2023-02-28 09636566 d:CurrentFinancialInstruments 2022-02-28 09636566 d:Non-currentFinancialInstruments 2023-02-28 09636566 d:Non-currentFinancialInstruments 2022-02-28 09636566 d:CurrentFinancialInstruments d:WithinOneYear 2023-02-28 09636566 d:CurrentFinancialInstruments d:WithinOneYear 2022-02-28 09636566 d:Non-currentFinancialInstruments d:AfterOneYear 2023-02-28 09636566 d:Non-currentFinancialInstruments d:AfterOneYear 2022-02-28 09636566 d:ShareCapital 2023-02-28 09636566 d:ShareCapital 2022-02-28 09636566 d:RetainedEarningsAccumulatedLosses 2023-02-28 09636566 d:RetainedEarningsAccumulatedLosses 2022-02-28 09636566 c:OrdinaryShareClass1 2022-03-01 2023-02-28 09636566 c:OrdinaryShareClass1 2023-02-28 09636566 c:FRS102 2022-03-01 2023-02-28 09636566 c:Audited 2022-03-01 2023-02-28 09636566 c:FullAccounts 2022-03-01 2023-02-28 09636566 c:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 09636566 c:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 09636566 7 2022-03-01 2023-02-28 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 09636566













GARY & ALICE LIMITED
FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2023

 
GARY & ALICE LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 8


 
GARY & ALICE LIMITED
REGISTERED NUMBER:09636566

STATEMENT OF FINANCIAL POSITION
AS AT 28 FEBRUARY 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
178,644
226,544

Current assets
  

Debtors: amounts falling due after more than one year
 5 
177,604
-

Debtors: amounts falling due within one year
 5 
243,300
107,844

Bank and cash balances
  
91,108
563,846

  
512,012
671,690

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(417,352)
(434,556)

Net current assets
  
 
 
94,660
 
 
237,134

Total assets less current liabilities
  
273,304
463,678

Creditors: amounts falling due after more than one year
 7 
(32,777)
(16,930)

  

Net assets
  
240,527
446,748


Capital and reserves
  

Called up share capital 
 8 
940,100
940,100

Profit and loss account
  
(699,573)
(493,352)

  
240,527
446,748


The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 November 2023.


C Bettane
Director

The notes on pages 2 to 8 form part of these financial statements.

Page 1

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

1.


General information

Gary & Alice Limited is a private limited liability company registered in England and Wales. Its registered office address and principal place of business is at Kujten, 98 King’s Road, London SW3 4TZ.
The principal activity of the company during the year was that of the retail of fashion clothing and accessories.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The company made a loss for the year and at the balance sheet date had net current liabilities. The company is reliant on the support of its parent company, BCS Group, to be able to meet its cashflow requirements and financial obligations as and when they fall due. BCS Group has provided confirmation of its ongoing support for a period of at least twelve months from the date of signing of these financial statements and therefore in the opinion of the director it is appropriate for the financial statements to be prepared on a going concern basis.

 
2.3

Turnover

Turnover represents amounts receivable in respect of the sales of goods, exclusive of Value Added Tax and trade discounts. 
Revenue from the sale of goods, both online and in store, is recognised when the customer completes the order and the right to receive consideration is established.

 
2.4

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.

At each reporting date the Company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

Page 2

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)


2.4
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

The estimated useful lives range as follows:

Long-term leasehold property
-
10
years
Plant and machinery
-
10
years
Fixtures and fittings
-
3
years
Equipment
-
3
years

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.

 
2.5

Basic financial instruments

The company only enters into transactions that result in the recognition of basic financial assets and basic financial liabilities.
Basic financial assets, such as trade and other debtors, are initially recognised at the transaction price less attributable transaction costs. Basic financial liabilities, such as trade and other creditors, are initially recognised at the transaction price plus attributable transaction costs. Subsequently, they are measured at amortised cost using the effective interest method, less any impairment losses in the case of basic financial assets.
Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.
Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. 

 
2.6

Government grants

Grants of a revenue nature are recognised in the Statement of comprehensive income in the same period as the related expenditure.

Page 3

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.7

Foreign currency translation

The company's functional and presentational currency is £ sterling.
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of Comprehensive Income.

 
2.8

Operating leases: the Company as lessee

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

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.9

Pensions

The company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the company in independently administered funds.

 
2.10

Holiday pay accrual

A liability is recognised to the extent of any unused holiday pay entitlement which is accrued at the reporting date and carried forward to future periods. This is measured at the undiscounted salary cost of the future holiday entitlement so accrued at the reporting date.

Page 4

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

2.Accounting policies (continued)

 
2.11

Current and deferred taxation

Tax is recognised in the Statement of Comprehensive Income, except that a charge 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.
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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
1) 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
2) Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.
Deferred tax balances are not recognised in respect of permanent differences. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 4 (2022 - 4).

Page 5

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

4.


Tangible fixed assets





Leasehold improvements
Plant and machinery
Equipment
Total

£
£
£
£



Cost


At 1 March 2022
456,230
121,270
10,413
587,913


Additions
12,633
-
-
12,633



At 28 February 2023

468,863
121,270
10,413
600,546



Depreciation


At 1 March 2022
277,140
73,816
10,413
361,369


Charge for the year on owned assets
47,879
12,654
-
60,533



At 28 February 2023

325,019
86,470
10,413
421,902



Net book value



At 28 February 2023
143,844
34,800
-
178,644



At 28 February 2022
179,090
47,454
-
226,544

Page 6

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

5.


Debtors

2023
2022
£
£

Due after more than one year

Other debtors
177,604
-


2023
2022
£
£

Due within one year

Amounts owed by group undertakings
180,308
3,874

Other debtors
2,808
5,832

Prepayments and accrued income
60,184
98,138

243,300
107,844



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Trade creditors
355,185
391,127

Other taxation and social security
37,723
24,586

Other creditors
13,214
13,067

Accruals and deferred income
11,230
5,776

417,352
434,556



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Other creditors
32,777
16,930


Page 7

 
GARY & ALICE LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2023

8.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



940,100 Ordinary shares of £1 each
940,100
940,100



9.


Pension commitments

The company contributes to a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £937 (2022 - £760). Contributions totalling £214 (2022 - £270) were payable to the fund at the reporting date and are included -in other creditors.


10.


Parent undertaking

The immediate and ultimate parent undertaking is BCS Group, a company registered in France.


11.


Auditors' information

The auditors' report on the financial statements for the year ended 28 February 2023 was unqualified.

The audit report was signed on 24 November 2023 by Martyn Atkinson (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 8