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Registered number:
FOR THE YEAR ENDED 31 MAY 2024
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GINA SHOES LIMITED
COMPANY INFORMATION
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GINA SHOES LIMITED
CONTENTS
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GINA SHOES LIMITED
STRATEGIC REPORT
FOR THE YEAR ENDED 31 MAY 2024
The directors present their Annual Report, which consists of the Strategic Report and the Directors' Report, and the financial statements of Gina Shoes Limited ("the company" or "GINA") for the year ended 31 May 2024.
The principal activity of the company is that of the design, manufacture and retail of women's designer footwear and accessories.
GINA continues to affirm its position as a distinguished British luxury footwear house, celebrated for exceptional craftsmanship, innovative design, and a heritage spanning more than 70 years. The brand remains fully aligned with the global fashion landscape, maintaining a strong presence across international runway showcases, premium retail destinations, and leading media platforms. Throughout the year, GINA’s profile was further elevated by building on appearances in British Vogue and the Warner Bros. production of the Barbie, focusing on high-impact editorial and film features. Custom made Gina shoes, in collaboration with Richard Quinn, were worn by Beyonce reinforcing the brand’s enduring cultural resonance and broad market appeal.
Following several years of consistent growth, the company recorded a reduction in turnover from £15.17m to £12.49m and a loss for the year of £1.86 million. This was principally due to prolonged road and pavement works affecting footfall and sales at the flagship Sloane Street store. In addition, flat consumer demand in the Middle East impacted the performance of the company’s franchise partner, resulting in a 23% year-on-year decline in supply sales within the region. Despite these headwinds, GINA sustained a strong gross profit margin of 51%, demonstrating resilient demand for its premium product offering and the continued effectiveness of its pricing and product strategy. The company maintained a disciplined approach to strategic investment across core operational areas. A key focus during the year was enhancing manufacturing capabilities, including significant capital investment in bespoke banding machinery produced in Austria. Bringing Swarovski banding production in-house marked an important operational milestone—delivering increased production capacity, enhanced design flexibility, reduced stockholding requirements, and improved cost efficiency. Previously, high minimum order quantities and long lead times presented challenges; internalising this capability has materially strengthened operational agility. Investments were also made in the company’s estate, including further improvements to the Tottenham production facility. This site remains central to GINA’s commitment to British craftsmanship and is equipped for continued expansion, currently supporting production of approximately 1,200 pairs of luxury footwear per week. Targeted marketing, retail refinements, and initiatives to advance GINA’s international presence further reinforced its long-term growth ambitions. Earnings before interest, tax, depreciation and amortisation (EBITDA) moved from £1.63m to –£1.63m, reflecting the reduction in turnover alongside increased administrative expenditure, normalised rents and rates, and broader wage inflation. These dynamics were consistent with trends across the wider luxury retail sector during the period. Notwithstanding a challenging external environment, GINA’s strong brand equity, operational expertise, and long-established market position provide a solid platform for future performance. The company remains committed to delivering outstanding craftsmanship, enhancing the customer experience, and supporting the continued development of its franchise network. The directors believe these strengths position the business to capitalise effectively on future opportunities as market conditions stabilise and improve. GINA enters the new financial year with confidence in its strategy, a clear focus on long-term brand value, and an unwavering dedication to the creation of luxury footwear that embodies the company’s heritage, quality, and timeless elegance.
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GINA SHOES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
Business Risks
The key business risks and uncertainties affecting the company are considered to relate to competition from other luxury brands, the economic environment and employee retention. The directors consider that the company’s principal business risks are normal trading risks such as losing major customers or market share and the increase of competitors. The company operates in a very competitive environment. Deterioration in sales growth would have a direct effect on financial performance. To counteract this risk, the company undertakes a continual process of product development with the objective of improving design and styling. The company manages existing sales channels by the development of store design concepts, which improve brand recognition, and the improvement of its e-commerce capability which is strategically focused on functionality and fulfillment. Furthermore, the company is developing new sales channels and is marketing the company’s products in new markets. In addition to these actions the directors are constantly undertaking a detailed review of the company's products and markets to maintain the company's growth and profitability. Manufacturing risk is mitigated by actively managing the lead times and cost of materials, which keeps the products and margins competitive. There is a programme of investment in plant and machinery and existing equipment is maintained to a high standard, which both reduces cost and minimises disruption from mechanical breakdowns. The company has also made significant investments in developing a management structure that is directed in the day to day running of the factory, and improved warehousing facilities which has resulted in improved stock management and cost control. The company has also invested in improved technical production systems in order to speed up product development cycles. The company recognises the importance of its workforce and has worked hard to develop and improve employee relations. It is important that the company attracts, develops and retains talent with the correct skills and so the company has introduced competitive reward packages as well as Personal Performance Reviews and Development Plans as part of a continual process of employee education and communication. Liquidity Risk The company manages its cash and borrowing requirements in order to maximise interest income and minimise interest expense, whilst ensuring that it has sufficient liquid resources to meet the operating needs of the business. Credit Risk The company places its cash with credit worthy institutions and performs ongoing credit evaluations of its debtors’ financial positions. New customers who wish to enter into contracts with the company are subject to credit verification procedures and relevant guarantees and or prepayments are sought where appropriate. Trade debtors are reviewed on a regular basis and provision is made for doubtful debts when necessary.
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GINA SHOES LIMITED
STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
PRINCIPAL RISKS AND UNCERTAINTIES (continued)
Cash-flow and Foreign Exchange Risk The company's cash-flow is managed on a daily basis to ensure adequate funds are available to settle trade creditors. Cash and bank reconciliations are reviewed regularly and exceptions are reported to the board of directors. The company sources a significant amount of its supplies from overseas producers and is exposed to foreign exchange transactional risk. Where possible, the directors mitigate this risk by off-setting the revenue that the company receives in foreign currencies against liabilities in those same currencies. The directors thus consider that the company does not have significant exposure to currency risk. Risk associated with geopolitical uncertainty Global markets in 2024 continued to be shaped by heightened geopolitical instability and broader macroeconomic shifts. This has resulted in a decrease in sales and increased costs, respectively in 2024 and is expected to continue to do so in 2025 and beyond. Price Risk The stock management system is updated daily with the movements of stocks to and from the company’s customers and suppliers. The company’s shops also conduct regular stock counts. The directors review the reports from the stock management system on a regular basis and reconcile these to the results of stock counts. Exposure to price risk is mitigated by agreeing raw material prices with suppliers in advance. Treasury Operations and Financial Instruments A financial instrument is a contract that gives rise to a financial asset in one entity and a financial liability (or equity instrument) in another entity. The company’s principal financial instruments include bank overdrafts and loans used to raise finance for the company’s operations, and various other financial assets and liabilities such as trade debtors and trade creditors arising directly from operations. Financial instruments are not entered into for speculative purposes.
It is the company's policy to agree the terms of payment with suppliers when entering into a transaction in order
to ensure that both parties are aware of these terms and abide by them.
This report was approved by the Board of directors and signed on its behalf.
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GINA SHOES LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 31 MAY 2024
The directors present their report and the financial statements of the company for the year ended 31 May 2024.
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements of the company in accordance with applicable law and regulations.
In preparing these financial statements of the company, the directors are required to:
∙select suitable accounting policies for the company's financial statements and then apply them consistently;
∙make judgments and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements of the company on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and to enable them to ensure that the financial statements of the company comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
The directors are responsible for the maintenance and integrity of the corporate and financial information included on the company's website. Legislation in the United Kingdom governing the preparation and dissemination of financial statements of the company and other information included in Directors' Reports may differ from legislation in other jurisdictions.
The loss for the year, after taxation, amounted to £1,856,215 (2023 - profit for the year £548,036).
The directors declared a dividend of £Nil (2023 - £Nil).
The directors who served during the year to the date of this report are:
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GINA SHOES LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 31 MAY 2024
Disclosure of the group and company's principal activity, future developments and principal risks and uncertainties are provided in the Strategic Report.
There are no post balance sheet events to report.
Under section 487(2) of the Companies Act 2006, Rawlinson & Hunter Audit LLP will be deemed to have been reappointed as auditor 28 days after these financial statements were sent to members or 28 days after the latest date prescribed for filing the accounts with the registrar, whichever is earlier.
This report was approved by the Board of directors and signed on its behalf.
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GINA SHOES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GINA SHOES LIMITED
We have audited the financial statements of Gina Shoes Limited ("the company") for the year ended 31 May 2024, which comprise the Profit and Loss Account, the Balance Sheet, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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GINA SHOES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GINA SHOES LIMITED (CONTINUED)
The other information comprises the information included in the Annual Report and Financial Statements other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual Report and Financial Statements. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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GINA SHOES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GINA SHOES LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below.
Our assessment of the susceptibility of the entity's financial statements to material misstatement, including how fraud might occur, is considered to be low. The conclusion was reached after the consideration of the following:
∙due to the relatively simple business model there are comparatively few unexpected fluctuations in the reported results and balances and any such unexpected items would be specifically enquired into by us; and
∙there are a number of individuals who comprise "management" and therefore there is no single individual who is likely to be able to override controls to effect fraud.
We designed our audit procedures to respond to identified audit risks, including non-compliance with laws and regulations (irregularities) that are material to the financial statements. Some of the specific procedures performed to detect irregularities, including fraud, are detailed below:
∙the review of control accounts and journal entries for large or unusual entries;
∙the analytical review of the profit and loss account for variances that are either unexpected or considered not to be in accordance with our understanding of the business during the year;
∙obtaining and reviewing for completeness a list of entities and persons considered to be related parties (as defined by Financial Reporting Standard 102) and reviewing the ledgers of the company for previously unreported related party transactions; and
∙the review of transactions and journals for any indication of fraud or management override.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
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GINA SHOES LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF GINA SHOES LIMITED (CONTINUED)
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditor
Chartered Accountants
Eighth Floor
6 New Street Square
New Fetter Lane
EC4A 3AQ
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GINA SHOES LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 MAY 2024
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GINA SHOES LIMITED
REGISTERED NUMBER: 00528524
BALANCE SHEET
AS AT 31 MAY 2024
The financial statements were approved and authorised for issue by the Board of directors and were signed on its behalf by:
The notes on pages 13 to 29 form part of these financial statements.
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GINA SHOES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Gina Shoes Limited ("the company") designs, manufactures and retails women's designer footwear and accessories. The company is a private company limited by shares and is incorporated and domiciled in England and Wales. The address of the registered office and business address is 104-106 Brantwood Road, Tottenham, London, N17 0XW.
2.Accounting policies
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102, 'The Financial Reporting Standard applicable in the United Kingdom and the Republic of Ireland' ("FRS 102") and the Companies Act 2006.
The company has taken advantage of the disclosure exemption available to it in relation to the presentation of a Statement of Cash Flow as it is a wholly owned subsidiary undertaking of The Gina Group Plc whose financial statements are publicly available, as detailed in Note 26. The financial statements of the company are consolidated into the financial statements of The Gina Group Plc. The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the company's accounting policies (see Note 3). The following principal accounting policies have been applied:
During the year the company reported loss after tax of £1,856,215 and had net current assets and net assets of £4,380,235 and £6,368,669 respectively. Taking this into account together with the company's future trading prospects and cashflow forecasts the directors consider the adoption of the going concern basis in the preparing these financial statements is appropriate.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
Turnover 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. Turnoveris 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 turnover is recognised:
At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.
The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to profit or loss during the period in which they are incurred.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on the following basis.
Depreciation is provided on the following basis:
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.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an out-right short-term loan not at market rate, the financial asset or liability is measured, initially, at the present value of the future cash flow discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Profit and Loss Account.
For financial assets measured at amortised cost, the impairment loss is measured as the difference between an asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If a financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date. Financial assets and liabilities are offset and the net amount reported in the Balance Sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
The company's functional and presentational currency is GBP.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the Balance Sheet date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Profit and Loss Account.
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets. Assets acquired by hire purchase are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the Profit and Loss Account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
The company operates a defined contribution pension scheme and the pension charge represents the amounts payable by the company to the fund in respect of the year.
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
2.Accounting policies (continued)
Interest income is recognised in the Profit and Loss Account using the effective interest method.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
(a) Valuation of work in progress and finished goods The company estimates the cost of its finished goods and work in progress having undertaken time and motion studies which, together with the cost of materials to produce these shoes, enables the company to determine the cost of its finished goods and work in progress. A reduction is applied to finished goods, based on the most recent data that supports any shortfall between cost and net realisable value. See Note 13 for the net carrying amount of the work in progress and finished goods. (b) Impairment of stocks Management assesses annually whether there are indicators of impairment of the company’s stocks at the year end. Factors taken into consideration in reaching such a decision include the age and saleability of the stock and whether the book value of the stock exceeds its expected net sales value. See Note 13 for the net carrying amount of the stocks. (c) Useful economic lives of tangible fixed assets The annual depreciation or amortisation charge for tangible fixed assets is sensitive to changes in the estimated useful economic lives and residual values of assets. The useful economic lives and residual values are assessed annually. They are amended when necessary to reflect current estimates, based on technological advancements, future investments, economic utilisation and the physical condition of the assets. See Note 12 for the carrying amount of the tangible fixed assets and Note 2.4 for the useful economic lives for each class of asset.
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Analysis of turnover by country of destination:
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
11.Taxation (continued)
A number of changes to the UK corporation tax system were announced in the March 2021 UK Budget Statement. The main rate of corporation tax was increased to 25% from 1 April 2023. This rate increase is reflected in these financial statements.
In addition to the above, there is a deferred tax liability in respect of fixed asset timing differences (Note 19).
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Page 25
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Page 26
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Page 27
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
Other reserves
Profit & loss account
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GINA SHOES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024
The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. Contributions are charged to the Profit and Loss Account as they fall due. The charge in the year was £83,336 (2023 - £81,004). Contributions totalling £16,325 (2023 - £5,128) were payable at the balance sheet date and are included in creditors.
The immediate and ultimate parent undertaking is The Gina Group Plc, a company registered in England and Wales. Copies of group accounts prepared by The Gina Group Plc are publicly available at Companies House, Crown Way, Cardiff, CF14 3UZ.
The ultimate controlling parties are the directors of the company.
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