Registered number
12330602
Gorgeous You Ltd
Filleted Accounts
30 November 2023
Gorgeous You Ltd
Registered number: 12330602
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 1,609 4,911
Current assets
Stocks 7,500 9,520
Debtors 4 - 15,869
Cash at bank and in hand 1 105
7,501 25,494
Creditors: amounts falling due within one year 5 (22,298) (9,747)
Net current (liabilities)/assets (14,797) 15,747
Total assets less current liabilities (13,188) 20,658
Creditors: amounts falling due after more than one year 6 (111,495) (101,588)
Net liabilities (124,683) (80,930)
Capital and reserves
Called up share capital 100 100
Profit and loss account (124,783) (81,030)
Shareholder's funds (124,683) (80,930)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ms N Nicolaou
Director
Approved by the board on 3 October 2024
Gorgeous You Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Fixtures, fittings, tools and equipment 20% straight line method
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 December 2022 4,232 8,045 12,277
At 30 November 2023 4,232 8,045 12,277
Depreciation
At 1 December 2022 2,539 4,827 7,366
Charge for the year 1,693 1,609 3,302
At 30 November 2023 4,232 6,436 10,668
Net book value
At 30 November 2023 - 1,609 1,609
At 30 November 2022 1,693 3,218 4,911
4 Debtors 2023 2022
£ £
Other debtors - 15,869
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,317 -
Trade creditors 1,517 6,127
Taxation and social security costs 2,939 873
Other creditors 525 2,747
22,298 9,747
6 Creditors: amounts falling due after one year 2023 2022
£ £
Other creditors 111,495 101,588
7 Going concern
The company ceased trading in October 2023 and vacated the business premises.
Stock of clothing and accessories was removed from the business premises and is now being safeguarded by the director, along with fixtures.

The business experienced a significant downturn in revenue therefore the director decided it was no longer feasible to occupy premises and incur additional business losses.
This dramatic scale down was necessary as the director cannot continue to inject personal funds to finance the business overheads.

The director has decided to pause operations and re commence on a much smaller scale, i.e. an online presence, at a later date.
In the meantime creditor balances, excluding the amount due to the director, will be settled on a monthly basis.

As such the director believes that the business is a going concern and shall remain in operational existence for the forseeable future and at least 12 months from the date that these accounts are signed.

The director has confirmed that the monies due to them, from the company, would not be requested and withdrawn from the company until such time as the company is profitable and has healthy reserves.
8 Other information
Gorgeous You Ltd is a private company limited by shares and incorporated in England. Its registered office is:
39 Barrington Road
London
N8 8QT
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