IRIS Accounts Production v24.2.0.383 08283543 director 1.12.22 30.11.23 30.11.23 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh082835432022-11-30082835432023-11-30082835432022-12-012023-11-30082835432021-11-30082835432021-12-012022-11-30082835432022-11-3008283543ns15:EnglandWales2022-12-012023-11-3008283543ns14:PoundSterling2022-12-012023-11-3008283543ns10:Director12022-12-012023-11-3008283543ns10:PrivateLimitedCompanyLtd2022-12-012023-11-3008283543ns10:SmallEntities2022-12-012023-11-3008283543ns10:AuditExempt-NoAccountantsReport2022-12-012023-11-3008283543ns10:SmallCompaniesRegimeForDirectorsReport2022-12-012023-11-3008283543ns10:SmallCompaniesRegimeForAccounts2022-12-012023-11-3008283543ns10:FullAccounts2022-12-012023-11-3008283543ns10:RegisteredOffice2022-12-012023-11-3008283543ns5:CurrentFinancialInstruments2023-11-3008283543ns5:CurrentFinancialInstruments2022-11-3008283543ns5:Non-currentFinancialInstruments2023-11-3008283543ns5:Non-currentFinancialInstruments2022-11-3008283543ns5:ShareCapital2023-11-3008283543ns5:ShareCapital2022-11-3008283543ns5:RetainedEarningsAccumulatedLosses2023-11-3008283543ns5:RetainedEarningsAccumulatedLosses2022-11-3008283543ns5:PlantMachinery2022-12-012023-11-3008283543ns5:PlantMachinery2022-11-3008283543ns5:PlantMachinery2023-11-3008283543ns5:PlantMachinery2022-11-30
REGISTERED NUMBER: 08283543 (England and Wales)


















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

GEM JEWELLERS LIMITED

GEM JEWELLERS LIMITED (REGISTERED NUMBER: 08283543)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEM JEWELLERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTOR: S Ali





REGISTERED OFFICE: Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA





REGISTERED NUMBER: 08283543 (England and Wales)





ACCOUNTANTS: TGFP
Chartered Accountants
Fulford House
Newbold Terrace
Leamington Spa
Warwickshire
CV32 4EA

GEM JEWELLERS LIMITED (REGISTERED NUMBER: 08283543)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 29,241 23,543

CURRENT ASSETS
Stocks 240,000 405,000
Debtors 5 - 118,500
Cash at bank and in hand 151,600 56,672
391,600 580,172
CREDITORS
Amounts falling due within one year 6 217,636 537,692
NET CURRENT ASSETS 173,964 42,480
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,205

66,023

CREDITORS
Amounts falling due after more than one
year

7

165,000

25,158
NET ASSETS 38,205 40,865

CAPITAL AND RESERVES
Called up and paid share capital 100 100
Retained earnings 38,105 40,765
SHAREHOLDERS' FUNDS 38,205 40,865

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

GEM JEWELLERS LIMITED (REGISTERED NUMBER: 08283543)

BALANCE SHEET - continued
30 NOVEMBER 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 2 July 2024 and were signed by:





S Ali - Director


GEM JEWELLERS LIMITED (REGISTERED NUMBER: 08283543)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2023


1. STATUTORY INFORMATION

Gem Jewellers 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.
Plant and machinery etc - 25% on reducing balance and 20% 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.

Financial instruments
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Taxation
Taxation for the year comprises current tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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.


GEM JEWELLERS LIMITED (REGISTERED NUMBER: 08283543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 December 2022 83,779
Additions 13,875
At 30 November 2023 97,654
DEPRECIATION
At 1 December 2022 60,236
Charge for year 8,177
At 30 November 2023 68,413
NET BOOK VALUE
At 30 November 2023 29,241
At 30 November 2022 23,543

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Amounts owed by participating interests - 118,500

GEM JEWELLERS LIMITED (REGISTERED NUMBER: 08283543)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2023


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 155,507 353,324
Taxation and social security 3,558 3,208
Other creditors 48,571 171,160
217,636 537,692

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 15,000 25,158
Other creditors 150,000 -
165,000 25,158

8. RELATED PARTY DISCLOSURES

During the year the company operated a loan with another company of which the director had an involvement. At the year-end the balance outstanding was £nil (2022 - £118,500)