1 false false false false false false false false false false true false false false false false false No description of principal activity 2024-09-01 Sage Accounts Production Advanced 2025 - FRS102_2025 150,759 147,463 824 148,287 2,472 3,296 xbrli:pure xbrli:shares iso4217:GBP 02477555 2024-09-01 2025-08-31 02477555 2025-08-31 02477555 2024-08-31 02477555 2023-09-01 2024-08-31 02477555 2024-08-31 02477555 2023-08-31 02477555 bus:Director1 2024-09-01 2025-08-31 02477555 core:WithinOneYear 2025-08-31 02477555 core:WithinOneYear 2024-08-31 02477555 core:AfterOneYear 2024-08-31 02477555 core:ShareCapital 2025-08-31 02477555 core:ShareCapital 2024-08-31 02477555 core:RetainedEarningsAccumulatedLosses 2025-08-31 02477555 core:RetainedEarningsAccumulatedLosses 2024-08-31 02477555 bus:SmallEntities 2024-09-01 2025-08-31 02477555 bus:AuditExempt-NoAccountantsReport 2024-09-01 2025-08-31 02477555 bus:SmallCompaniesRegimeForAccounts 2024-09-01 2025-08-31 02477555 bus:PrivateLimitedCompanyLtd 2024-09-01 2025-08-31 02477555 bus:FullAccounts 2024-09-01 2025-08-31 02477555 core:FurnitureFittingsToolsEquipment 2024-09-01 2025-08-31 02477555 core:FurnitureFittingsToolsEquipment 2025-08-31 02477555 core:FurnitureFittingsToolsEquipment 2024-08-31
COMPANY REGISTRATION NUMBER: 02477555

GEMS OF THE WORLD (EUROPE) LIMITED

FILLETED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 August 2025

GEMS OF THE WORLD (EUROPE) LIMITED

STATEMENT OF FINANCIAL POSITION

31 August 2025

| 2025 | 2024
Note | £ | £

FIXED ASSETS

Tangible assets | 5 | 2,472 | 3,296

CURRENT ASSETS

Stocks | 258,385 | 388,688
Debtors | 6 | 82,521 | 111,031
Cash at bank and in hand | 44 | 100
| ---------- | ----------
| 340,950 | 499,819

CREDITORS: amounts falling due within one year | 7 | ( 267,790) | ( 414,494)
| ---------- | ----------
NET CURRENT ASSETS | 73,160 | 85,325
| --------- | ---------
TOTAL ASSETS LESS CURRENT LIABILITIES | 75,632 | 88,621

CREDITORS: amounts falling due after more than one year | 8 | – | ( 8,942)

PROVISIONS | ( 618) | ( 824)
| --------- | ---------
NET ASSETS | 75,014 | 78,855
| --------- | ---------

GEMS OF THE WORLD (EUROPE) LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

31 August 2025

| 2025 | 2024
Note | £ | £

CAPITAL AND RESERVES

Called up share capital | 100 | 100
Profit and loss account | 74,914 | 78,755
| --------- | ---------
SHAREHOLDERS FUNDS | 75,014 | 78,855
| --------- | ---------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
These financial statements were approved by the board of directors and authorised for issue on 26 August 2026 , and are signed on behalf of the board by:

Mr D Kahan |
Director |

Company registration number: 02477555

GEMS OF THE WORLD (EUROPE) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

YEAR ENDED 31 AUGUST 2025
1. GENERAL INFORMATION
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Japonica House, 8 Spring Villa Road, Edgware, HA8 7EB, United Kingdom.
2. STATEMENT OF COMPLIANCE
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. ACCOUNTING POLICIES
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Tangible 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
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

| Equipment | - | 25% reducing balance

Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. EMPLOYEE NUMBERS
The average number of persons employed by the company during the year amounted to 1 (2024: 3 ).
5. TANGIBLE ASSETS

| Equipment
| £
Cost |
At 1 September 2024 and 31 August 2025 | 150,759
| ----------
Depreciation |
At 1 September 2024 | 147,463
Charge for the year | 824
| ----------
At 31 August 2025 | 148,287
| ----------
Carrying amount |
At 31 August 2025 | 2,472
| ----------
At 31 August 2024 | 3,296
| ----------

6. DEBTORS

| 2025 | 2024
| £ | £
Trade debtors | 82,397 | 110,565
Other debtors | 124 | 466
| --------- | ----------
| 82,521 | 111,031
| --------- | ----------

7. CREDITORS: amounts falling due within one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | 30,925 | 91,504
Trade creditors | 19,758 | 41,619
Social security and other taxes | 19,523 | 23,649
Other creditors | 197,584 | 257,722
| ---------- | ----------
| 267,790 | 414,494
| ---------- | ----------

8. CREDITORS: amounts falling due after more than one year

| 2025 | 2024
| £ | £
Bank loans and overdrafts | – | 8,942
| ---- | -------