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REGISTERED NUMBER: 06816029 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29TH FEBRUARY 2024

FOR

GEMS BEAUTY STUDIOS LIMITED

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


GEMS BEAUTY STUDIOS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29TH FEBRUARY 2024







DIRECTOR: Mrs G E Burkinshaw





REGISTERED OFFICE: 168 Huddersfield Road
Barnsley
South Yorkshire
S75 1HA





REGISTERED NUMBER: 06816029 (England and Wales)





ACCOUNTANTS: Seaman Herbert & Co
36 - 40 Doncaster Road
Barnsley
South Yorkshire
S70 1TL

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

BALANCE SHEET
29TH FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,406 7,724

CURRENT ASSETS
Stocks 5 2,500 3,200
Debtors 6 6,999 6,174
Cash at bank and in hand 20,721 22,445
30,220 31,819
CREDITORS
Amounts falling due within one year 7 78,174 77,878
NET CURRENT LIABILITIES (47,954 ) (46,059 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(43,548

)

(38,335

)

CREDITORS
Amounts falling due after more than one year 8 5,184 9,216
NET LIABILITIES (48,732 ) (47,551 )

CAPITAL AND RESERVES
Called up share capital 11 100 100
Revaluation reserve 12 (8,561 ) (8,561 )
Retained earnings (40,271 ) (39,090 )
SHAREHOLDERS' FUNDS (48,732 ) (47,551 )

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

BALANCE SHEET - continued
29TH FEBRUARY 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29th February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29th February 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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 Profit & Loss Account has not been delivered.

The financial statements were approved by the director and authorised for issue on 15th October 2024 and were signed by:





Mrs G E Burkinshaw - Director


GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29TH FEBRUARY 2024

1. STATUTORY INFORMATION

Gems Beauty Studios 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.

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.
Improvements to property - 10% on cost
Fixtures and fittings - 20% on reducing balance
Electrical equip - 20% on cost

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

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

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.

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.

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 4 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Electrical
property fittings equip Totals
£    £    £    £   
COST
At 1st March 2023
and 29th February 2024 23,085 3,200 7,566 33,851
DEPRECIATION
At 1st March 2023 18,467 2,661 4,999 26,127
Charge for year 2,309 108 901 3,318
At 29th February 2024 20,776 2,769 5,900 29,445
NET BOOK VALUE
At 29th February 2024 2,309 431 1,666 4,406
At 28th February 2023 4,618 539 2,567 7,724

5. STOCKS
2024 2023
£    £   
Stocks 2,500 3,200

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Deferred tax asset 5,960 5,666
Prepayments 1,039 508
6,999 6,174

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 9) 4,032 3,933
Other loans (see note 9) 66,168 66,168
Social security and other taxes 170 186
Other creditors 83 84
Directors' current accounts 4,076 3,214
Accrued expenses 3,645 4,293
78,174 77,878

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 9) 5,184 9,216

9. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 4,032 3,933
Other loans 66,168 66,168
70,200 70,101

Amounts falling due between one and two years:
Bank loans - 1-2 years 4,134 4,032

Amounts falling due between two and five years:
Bank loans - 2-5 years 1,050 5,184

10. DEFERRED TAX
£   
Balance at 1st March 2023 (5,666 )
Provided during year (294 )
Movement in the year
Balance at 29th February 2024 (5,960 )

11. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

12. RESERVES
Revaluation
reserve
£   
At 1st March 2023
and 29th February 2024 (8,561 )

GEMS BEAUTY STUDIOS LIMITED (REGISTERED NUMBER: 06816029)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29TH FEBRUARY 2024

13. ULTIMATE CONTROLLING PARTY

The controlling party is Mrs G E Burkinshaw.