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REGISTERED NUMBER: 06816029 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28TH FEBRUARY 2023

FOR

GEMS BEAUTY STUDIOS LIMITED

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEMS BEAUTY STUDIOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 28TH FEBRUARY 2023







DIRECTOR: Mrs G E Burkinshaw





REGISTERED OFFICE: 168 Huddersfield Road
Barnsley
South Yorkshire
S75 1HA





REGISTERED NUMBER: 06816029 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

BALANCE SHEET
28TH FEBRUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 7,724 11,047

CURRENT ASSETS
Stocks 5 3,200 3,200
Debtors 6 6,174 7,625
Cash at bank and in hand 22,445 26,589
31,819 37,414
CREDITORS
Amounts falling due within one year 7 77,878 72,904
NET CURRENT LIABILITIES (46,059 ) (35,490 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(38,335

)

(24,443

)

CREDITORS
Amounts falling due after more than one year 8 9,216 13,149
NET LIABILITIES (47,551 ) (37,592 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 (8,561 ) (8,561 )
Retained earnings (39,090 ) (29,131 )
SHAREHOLDERS' FUNDS (47,551 ) (37,592 )

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

BALANCE SHEET - continued
28TH FEBRUARY 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 20th November 2023 and were signed by:





Mrs G E Burkinshaw - Director


GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28TH FEBRUARY 2023

1. STATUTORY INFORMATION

Gems Beauty Studios 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on reducing balance
Electrical equip - 20% on cost

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 Profit & Loss Account, 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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 5 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Electrical
property fittings equip Totals
£    £    £    £   
COST
At 1st March 2022 23,085 3,200 8,586 34,871
Disposals - - (1,020 ) (1,020 )
At 28th February 2023 23,085 3,200 7,566 33,851
DEPRECIATION
At 1st March 2022 16,159 2,527 5,138 23,824
Charge for year 2,308 134 881 3,323
Eliminated on disposal - - (1,020 ) (1,020 )
At 28th February 2023 18,467 2,661 4,999 26,127
NET BOOK VALUE
At 28th February 2023 4,618 539 2,567 7,724
At 28th February 2022 6,926 673 3,448 11,047

5. STOCKS
2023 2022
£    £   
Stocks 3,200 3,200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Directors' current accounts - 3,794
Deferred tax asset 5,666 3,330
Prepayments 508 501
6,174 7,625

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts (see note 9) 3,933 3,836
Other loans (see note 9) 66,168 66,168
Trade creditors - 100
Social security and other taxes 186 174
Other creditors 84 348
Directors' current accounts 3,214 -
Accrued expenses 4,293 2,278
77,878 72,904

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans (see note 9) 9,216 13,149

9. LOANS

An analysis of the maturity of loans is given below:

2023 2022
£    £   
Amounts falling due within one year or on demand:
Bank loans 3,933 3,836
Other loans 66,168 66,168
70,101 70,004

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,032 3,933

Amounts falling due between two and five years:
Bank loans - 2-5 years 5,184 9,216

10. DEFERRED TAX
£   
Balance at 1st March 2022 (3,330 )
Provided during year (2,336 )
Movement in the year
Balance at 28th February 2023 (5,666 )

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28TH FEBRUARY 2023

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Revaluation
reserve
£   
At 1st March 2022
and 28th February 2023 (8,561 )

13. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th February 2023 and 28th February 2022:

2023 2022
£    £   
Mrs G E Burkinshaw
Balance outstanding at start of year (3,794 ) 11,711
Amounts advanced 7,008 (15,505 )
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 3,214 (3,794 )

14. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs G E Burkinshaw.