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Registered number: 09686225









GORGEOUS BARS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2024

 
GORGEOUS BARS LIMITED
REGISTERED NUMBER: 09686225

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
40,666

  
-
40,666

Current assets
  

Debtors: amounts falling due within one year
 6 
3,450
204,423

Cash at bank and in hand
 7 
66
633

  
3,516
205,056

Creditors: amounts falling due within one year
 8 
(434,941)
(563,726)

Net current liabilities
  
 
 
(431,425)
 
 
(358,670)

Total assets less current liabilities
  
(431,425)
(318,004)

Creditors: amounts falling due after more than one year
 9 
(30,891)
(34,502)

  

Net liabilities
  
(462,316)
(352,506)


Capital and reserves
  

Called up share capital 
 11 
100
100

Profit and loss account
  
(462,416)
(352,606)

  
(462,316)
(352,506)


Page 1

 
GORGEOUS BARS LIMITED
REGISTERED NUMBER: 09686225
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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 comprehensive income 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: 




R P Laub
Director

Date: 1 April 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
GORGEOUS BARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Gorgeous Bars Limited is a private company, limited by shares and incorporated in England and Wales (registered number 09686225). The registered office address is 101 New Cavendish Street, London, W1W 6XH. The principle place of business is 13 North Hill, Highgate, London, N6 4AB.
The entity ceased trading on 23 March 2023.

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

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.

 
2.3

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.

 
2.4

Borrowing costs

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

 
2.5

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

Page 3

 
GORGEOUS BARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.6

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, using the straight-line method.

Depreciation is provided on the following basis:

Plant and machinery
-
10%
Straight Line
Office equipment
-
25%
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.

 
2.7

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.

 
2.8

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.

 
2.9

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.


3.


Employees




The average monthly number of employees, including directors, during the year was 2 (2023 - 2).

Page 4

 
GORGEOUS BARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

4.


Tangible fixed assets





Plant and machinery
Office equipment
Total

£
£
£





At 1 August 2023
93,817
2,353
96,170


Disposals
(93,817)
(2,353)
(96,170)



At 31 July 2024

-
-
-





At 1 August 2023
53,756
1,747
55,503


Charge for the year on owned assets
(53,756)
(1,747)
(55,503)



At 31 July 2024

-
-
-



Net book value



At 31 July 2024
-
-
-



At 31 July 2023
40,060
606
40,666


5.


Stocks




Page 5

 
GORGEOUS BARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

6.


Debtors

2024
2023
£
£


Trade debtors
-
53,311

Amounts owed by group undertakings
101
150,721

Other debtors
3,349
391

3,450
204,423



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
66
633

66
633



8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
-
8,719

Amounts owed to group undertakings
-
112,535

Other creditors
431,691
439,222

Accruals and deferred income
3,250
3,250

434,941
563,726



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
30,891
34,502

30,891
34,502


Page 6

 
GORGEOUS BARS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

10.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£



Amounts falling due 2-5 years

Other loans
30,891
34,502


30,891
34,502


30,891
34,502



11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1.00 each
100
100



12.


Controlling party and ultimate parent

The ultimate parent company is Gorgeous Holdings Limited and its registered office address is 101 New Cavendish Street, 1st Floor South, London, W1W 6XH. 

 
Page 7