Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31true2023-01-01falseThe principal activity of the company during the year was that of retail sale.66trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 08538547 2023-01-01 2023-12-31 08538547 2023-12-31 08538547 2022-01-01 2022-12-31 08538547 2022-12-31 08538547 c:Director2 2023-01-01 2023-12-31 08538547 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 08538547 d:Buildings d:ShortLeaseholdAssets 2023-12-31 08538547 d:Buildings d:ShortLeaseholdAssets 2022-12-31 08538547 d:PlantMachinery 2023-01-01 2023-12-31 08538547 d:PlantMachinery 2023-12-31 08538547 d:PlantMachinery 2022-12-31 08538547 d:PlantMachinery d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08538547 d:FurnitureFittings 2023-01-01 2023-12-31 08538547 d:FurnitureFittings 2023-12-31 08538547 d:FurnitureFittings 2022-12-31 08538547 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08538547 d:OfficeEquipment 2023-01-01 2023-12-31 08538547 d:OfficeEquipment 2023-12-31 08538547 d:OfficeEquipment 2022-12-31 08538547 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08538547 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 08538547 d:CurrentFinancialInstruments 2023-12-31 08538547 d:CurrentFinancialInstruments 2022-12-31 08538547 d:Non-currentFinancialInstruments 2023-12-31 08538547 d:Non-currentFinancialInstruments 2022-12-31 08538547 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 08538547 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 08538547 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 08538547 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 08538547 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 08538547 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 08538547 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 08538547 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 08538547 d:ShareCapital 2023-12-31 08538547 d:ShareCapital 2022-12-31 08538547 d:RetainedEarningsAccumulatedLosses 2023-12-31 08538547 d:RetainedEarningsAccumulatedLosses 2022-12-31 08538547 d:TaxLossesCarry-forwardsDeferredTax 2023-12-31 08538547 d:TaxLossesCarry-forwardsDeferredTax 2022-12-31 08538547 c:FRS102 2023-01-01 2023-12-31 08538547 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 08538547 c:FullAccounts 2023-01-01 2023-12-31 08538547 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08538547 d:HirePurchaseContracts d:WithinOneYear 2023-12-31 08538547 d:HirePurchaseContracts d:WithinOneYear 2022-12-31 08538547 d:HirePurchaseContracts d:BetweenOneFiveYears 2023-12-31 08538547 d:HirePurchaseContracts d:BetweenOneFiveYears 2022-12-31 08538547 2 2023-01-01 2023-12-31 08538547 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure
Registered number: 08538547


GS IN STYLE LIMITED








UNAUDITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

 
GS IN STYLE LIMITED
REGISTERED NUMBER: 08538547

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
286,618
72,784

  
286,618
72,784

Current assets
  

Stocks
  
11,329
67,926

Debtors
 5 
129,191
50,558

Cash at bank and in hand
  
24,828
33,047

  
165,348
151,531

Creditors: amounts falling due within one year
 6 
(488,889)
(186,097)

Net current liabilities
  
 
 
(323,541)
 
 
(34,566)

Total assets less current liabilities
  
(36,923)
38,218

Creditors: amounts falling due after more than one year
 7 
(116,488)
(35,382)

  

Net (liabilities)/assets
  
(153,411)
2,836


Capital and reserves
  

Called up share capital 
  
100,100
100,100

Profit and loss account
  
(253,511)
(97,264)

  
(153,411)
2,836


Page 1

 
GS IN STYLE LIMITED
REGISTERED NUMBER: 08538547
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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 income and retained earnings 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 by: 




A Geidans
Director

Date: 22 September 2024

The notes on pages 3 to 10 form part of these financial statements.

Page 2

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.


General information

GS In Style Limited is a private limited company limited by share capital, incorporated in England and Wales. The company's registration number is 08538547. The address of the registered office is Unit 14 Birch, Kembrey Park, Swindon, Wiltshire, United Kingdom, SN2 8UU.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

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 profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

Page 3

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

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.

 
2.5

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of Income and Retained Earnings in the same period as the related expenditure.

 
2.6

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.7

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

Page 4

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.9

Pensions

Defined contribution pension plan

The Company operates 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 profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.10

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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 balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
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
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 except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Page 5

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.11

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.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, detail is provided below.

Depreciation is provided on the following basis:

Short-term leasehold property
-
25%
Straight Line
Plant and machinery
-
15%
Reducing balance
Fixtures and fittings
-
25%
Reducing balance
Office equipment
-
33%
Straight line

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.

 
2.12

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.13

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.14

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.15

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 6

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

2.Accounting policies (continued)

 
2.16

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2022 - 6).


4.


Tangible fixed assets





Short-term leasehold property
Plant and machinery
Fixtures and fittings
Office equipment
Total

£
£
£
£
£



Cost or valuation


At 1 January 2023
19,435
77,171
23,127
6,224
125,957


Additions
227,880
25,996
12,737
913
267,526


Disposals
-
(13,784)
-
(1,020)
(14,804)


Revaluations
4,969
-
-
-
4,969



At 31 December 2023

252,284
89,383
35,864
6,117
383,648



Depreciation


At 1 January 2023
3,644
40,046
6,598
2,886
53,174


Charge for the year on owned assets
33,795
7,763
6,547
1,665
49,770


Disposals
-
(4,894)
-
(1,020)
(5,914)



At 31 December 2023

37,439
42,915
13,145
3,531
97,030



Net book value



At 31 December 2023
214,845
46,468
22,719
2,586
286,618



At 31 December 2022
15,791
37,125
16,530
3,338
72,784

Page 7

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Debtors


2023
2022
£
£

Due after more than one year

Other debtors
-
4,800

-
4,800

Due within one year

Trade debtors
14,252
35,536

Other debtors
32,983
131

Prepayments and accrued income
1,717
10,091

Deferred taxation
80,239
-

129,191
50,558



6.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank overdrafts
5,221
6,104

Bank loans
10,000
10,000

Trade creditors
40,802
29,059

Amounts owed to group undertakings
372,644
119,351

Other taxation and social security
15,280
4,060

Obligations under finance lease and hire purchase contracts
37,104
7,582

Other creditors
2,655
2,087

Accruals and deferred income
5,183
7,854

488,889
186,097



7.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
14,167
24,167

Net obligations under finance leases and hire purchase contracts
102,321
11,215

116,488
35,382


Page 8

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

8.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 1-2 years

Bank loans
10,000
10,000


10,000
10,000

Amounts falling due 2-5 years

Bank loans
4,167
14,167


4,167
14,167


24,167
34,167



9.


Hire purchase and finance leases


Minimum lease payments under hire purchase fall due as follows:

2023
2022
£
£


Within one year
37,104
7,582

Between 1-5 years
102,321
11,215

139,425
18,797

Page 9

 
GS IN STYLE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Deferred taxation




2023


£






Charged to profit or loss
80,239



At end of year
80,239

The deferred tax asset is made up as follows:

2023
2022
£
£


Tax losses carried forward
80,239
-

80,239
-


11.


Pension commitments

The Company contributes into 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 £3,648 (2022 - £2,245) . Contributions totalling £971 (2022 - £489) were payable to the fund at the balance sheet date and are included in creditors.


12.


Controlling party

Throughout the year, the ultimate parent company was GLA Holding Ltd, a company incorporated in England and Wales. Throughout the current and prior period, the group was under the ultimate control of the directors, by virtue of their holding in the company's share capital.

 
Page 10