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REGISTERED NUMBER: 11955189 (England and Wales)















Gabriela Hearst Ltd

Unaudited Financial Statements

for the Year Ended 31 December 2022






Gabriela Hearst Ltd (Registered number: 11955189)

Contents of the Financial Statements
for the year ended 31 December 2022










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Gabriela Hearst Ltd

Company Information
for the year ended 31 December 2022







Directors: J A Hearst
G Hearst
T A Colin





Registered office: 3rd Floor
1 Ashley Road
Altrincham
Cheshire
WA14 2DT





Registered number: 11955189 (England and Wales)






Gabriela Hearst Ltd (Registered number: 11955189)

Balance Sheet
31 December 2022

2022 2021
Notes £ £ £ £
Fixed assets
Tangible assets 4 685,147 873,833

Current assets
Stocks 1,147,399 1,145,679
Debtors 5 365,348 354,354
Cash at bank 8,129 15,518
1,520,876 1,515,551
Creditors
Amounts falling due within one year 6 880,018 1,612,953
Net current assets/(liabilities) 640,858 (97,402 )
Total assets less current liabilities 1,326,005 776,431

Provisions for liabilities 98,887 98,887
Net assets 1,227,118 677,544

Capital and reserves
Called up share capital 100 100
Retained earnings 1,227,018 677,444
1,227,118 677,544

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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.

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 7 March 2024 and were signed on its behalf by:





T A Colin - Director


Gabriela Hearst Ltd (Registered number: 11955189)

Notes to the Financial Statements
for the year ended 31 December 2022


1. Statutory information

Gabriela Hearst Ltd 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.

Set out below is a summary of the principal accounting policies, all of which have been applied consistently (except as otherwise stated).

Significant judgements and estimates
In applying the Company's accounting policies, the directors are required to make judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The directors judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherent subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ.

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.

Critical judgements in applying the Company's accounting policies
The critical judgements that the directors have made in the process of applying the Company's accounting policies that have the most significant effect on the amounts recognised in the statutory financial statements are discussed below:

(i) Assessing indicators and impairment
In assessing whether there have been any indicators or impairment assets, the directors have considered both external and internal sources of information such as market conditions, counterparty credit ratings and experience or recoverability. There have been no indicators or impairments identified during the current financial year.

Key sources of estimation uncertainty
The key assumptions concerning the future, and other key sources of estimation uncertainty that have a significant risk of causing material adjustment to the carrying amounts of assets and liabilities within the next financial year are discussed below.

(ii) Recoverability of receivables
The Company establishes a provision for receivables that are estimated not to be recoverable. When assessing recoverability the directors consider factors such as the ageing of the receivables, past experience and recoverability, and the credit profile of individual or groups of customers.

Turnover
Turnover represents amounts receivable for goods provided in the year and is stated net of VAT.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Leasehold improvements- straight line over the period of the lease, being ten years
Fixtures and fittings - straight line over 4 years

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

Gabriela Hearst Ltd (Registered number: 11955189)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


2. Accounting policies - continued

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.

Going concern
The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

Financial instruments
Financial assets and liabilities are recognised when the Company becomes party to the contractual provisions of the financial instrument. The Company holds financial instruments which comprise cash and cash equivalents, trade and other receivables, equity investments, trade and other payables, loans and borrowings. The company has chosen to apply the provisions of Section 11 Basic Financial Instruments.

Financial assets / liabilities - classified as basic financial instruments

(i) Cash and cash equivalents
This includes cash in hand, deposits held with banks, and other short-term highly liquid investments with original maturities of three months or less.

(ii) Trade and other receivables
Trade and other receivables are initially recognised at the transaction price, including any transaction costs, and subsequently measured at amortised cost including the effective interest method, less any provision for impairment. Amounts that are receivable within one year are measured at the undiscounted amount of the cash expected to be received, net of any impairment.

At the end of each reporting period, the Company assesses whether there is objective evidence that an receivable amount may be impaired. A provision for impairment is established when there is objective evidence that the Company will not be able to collect all amounts due according to the original terms of the receivables. The amount of the provision is the difference between the asset's carrying amount and the present value of the estimated future cash flows, discounted at the effective interest rate. The amount of the provision is recognised immediately in profit or loss.

(iii) Trade and other payables and loans and borrowings
Trade and other payables and loans and borrowings are initially measured at the transaction price, including any transaction costs, and subsequently measured at amortised cost using the effective interest method.

3. Employees and directors

The average number of employees during the year was 7 (2021 - 7 ) .

Gabriela Hearst Ltd (Registered number: 11955189)

Notes to the Financial Statements - continued
for the year ended 31 December 2022


4. Tangible fixed assets
Fixtures
Improvements and
to property fittings Totals
£ £ £
Cost
At 1 January 2022 912,866 449,316 1,362,182
Additions - 17,232 17,232
At 31 December 2022 912,866 466,548 1,379,414
Depreciation
At 1 January 2022 211,266 277,083 488,349
Charge for year 91,287 114,631 205,918
At 31 December 2022 302,553 391,714 694,267
Net book value
At 31 December 2022 610,313 74,834 685,147
At 31 December 2021 701,600 172,233 873,833

5. Debtors: amounts falling due within one year
2022 2021
£ £
Trade debtors 59,748 65,763
Other debtors 305,600 288,591
365,348 354,354

6. Creditors: amounts falling due within one year
2022 2021
£ £
Trade creditors 100,058 239,277
Amounts owed to group undertakings 250,523 1,089,173
Taxation and social security 522,987 277,115
Other creditors 6,450 7,388
880,018 1,612,953

7. Related party disclosures

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

8. Ultimate controlling party

The ultimate parent company is Gabriela Hearst LLC, a company registered in the United States of America.

Gabriela Hearst LLC prepares group financial statements and copies can be obtained from 985 Madison Avenue, New York, 10075.