Hidden Gems (UK) Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 05486848 (England and Wales)

HIDDEN GEMS (UK) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2022

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Ms J E Sullivan

REGISTERED OFFICE:

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

REGISTERED NUMBER:

05486848 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Chartered Accountants

45 High Street

Haverfordwest

Pembrokeshire

SA61 2BP

FIXED ASSETS

Tangible assets

4

5,019

5,583

Investment property

5

155,313

155,313

160,332

160,896

CURRENT ASSETS

Cash at bank

46

956

CREDITORS

Amounts falling due within one year

6

184,689

182,941

NET CURRENT LIABILITIES

(184,643

)

(181,985

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(24,311

)

(21,089

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(24,411

)

(21,189

)

SHAREHOLDERS' FUNDS

(24,311

)

(21,089

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2022 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 17 March 2023 and were signed by:

Ms J E Sullivan - Director

1.	STATUTORY INFORMATION

Hidden Gems (UK) 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.

Fixtures & fittings

-

10% reducing balance

Equipment

-

20% reducing balance

Computer equipment

-

25% on cost

Freehold property is not depreciated as the director's estimate of residual value is in excess of cost.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2021 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& fittings

Equipment

equipment

Totals

£

£

£

£

COST

At 1 July 2021

and 30 June 2022

14,646

1,089

2,149

17,884

DEPRECIATION

At 1 July 2021

9,105

1,065

2,131

12,301

Charge for year

554

5

5

564

At 30 June 2022

9,659

1,070

2,136

12,865

NET BOOK VALUE

At 30 June 2022

4,987

19

13

5,019

At 30 June 2021

5,541

24

18

5,583

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 July 2021

and 30 June 2022

155,313

NET BOOK VALUE

At 30 June 2022

155,313

At 30 June 2021

155,313

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Other creditors

184,689

182,941

7.	RELATED PARTY DISCLOSURES

During the year the director made funds available to the company to assist with the provision of working capital. The loan was interest free, unsecured and repayable on demand. The amount outstanding at the balance sheet date was £183,932 (2021 - £182,066).