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REGISTERED NUMBER: 08948421 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2023

FOR

AZIZ GEMS LTD

AZIZ GEMS LTD (REGISTERED NUMBER: 08948421)






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


AZIZ GEMS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2023







DIRECTORS: Mr G N Azizollahoff
Mr M S Aziz





REGISTERED OFFICE: 105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ





REGISTERED NUMBER: 08948421 (England and Wales)





ACCOUNTANTS: DAS Accounting & Partners (UK) LLP
105 Eade Road
OCC Building A
2nd Floor Unit 11D
London
N4 1TJ

AZIZ GEMS LTD (REGISTERED NUMBER: 08948421)

BALANCE SHEET
30 NOVEMBER 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 264 352

CURRENT ASSETS
Stocks 31,654 78,450
Debtors 6 231,042 137,177
Cash at bank 232,996 193,922
495,692 409,549
CREDITORS
Amounts falling due within one year 7 (425,595 ) (319,384 )
NET CURRENT ASSETS 70,097 90,165
TOTAL ASSETS LESS CURRENT
LIABILITIES

70,361

90,517

CAPITAL AND RESERVES
Called up share capital 106 106
Retained earnings 70,255 90,411
SHAREHOLDERS' FUNDS 70,361 90,517

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 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.

AZIZ GEMS LTD (REGISTERED NUMBER: 08948421)

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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 September 2024 and were signed on its behalf by:





Mr M S Aziz - Director


AZIZ GEMS LTD (REGISTERED NUMBER: 08948421)

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

1. STATUTORY INFORMATION

Aziz Gems 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. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

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.

The directors do not consider there are any critical judgments or sources of estimation uncertainty requiring disclosure beyond the accounting policies listed below.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and 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.


AZIZ GEMS LTD (REGISTERED NUMBER: 08948421)

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

3. 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.

Fixed assets
Fixed assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.

Computer equipment - 25% reducing balance

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 6 ) .

5. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1 December 2022
and 30 November 2023 980
DEPRECIATION
At 1 December 2022 628
Charge for year 88
At 30 November 2023 716
NET BOOK VALUE
At 30 November 2023 264
At 30 November 2022 352

AZIZ GEMS LTD (REGISTERED NUMBER: 08948421)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors - 38,277
Other debtors 231,042 98,900
231,042 137,177

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 382,777 207,934
Taxation 21,306 49,402
Other creditors 21,512 62,048
425,595 319,384

8. RELATED PARTY DISCLOSURES

Other debtors include amounts of £195,860 (2022: £68,847) due from companies which have a director in common with the company.

Other creditors include an amount of £6,212 (2022: £4,233) due to a company which has a director in common with the company.

Other than the amounts disclosed above, no transactions with related parties were undertaken such as are required to be disclosed under FRS 102.

9. PRIOR YEAR ADJUSTMENT

A prior year adjustment arises due to an error reported in the prior period. Dividends payable were overstated by £15,750. The adjustment to the financial statements to correct this error reduces dividends payable by £15,750 and increases retained earnings by the same amount.