Jewells Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08165039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2018

FOR

JEWELLS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Brooke

G M Brooke

REGISTERED OFFICE:

Jewells Farm

Hemyock

Cullompton

Devon

EX15 3PX

REGISTERED NUMBER:

08165039 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Tangible assets

3

32,963

41,852

CURRENT ASSETS

Debtors

4

122,240

100,842

Cash at bank and in hand

992

316

123,232

101,158

CREDITORS

Amounts falling due within one year

5

177,626

99,482

NET CURRENT (LIABILITIES)/ASSETS

(54,394

)

1,676

TOTAL ASSETS LESS CURRENT LIABILITIES

(21,431

)

43,528

CREDITORS

Amounts falling due after more than one year

6

(19,985

)

(19,985

)

PROVISIONS FOR LIABILITIES

-

(4,461

)

NET (LIABILITIES)/ASSETS

(41,416

)

19,082

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

(41,516

)

18,982

SHAREHOLDERS' FUNDS

(41,416

)

19,082

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors on 18 September 2019 and were signed on its behalf by:

J Brooke - Director

1.	STATUTORY INFORMATION

Jewells 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% on cost and Straight line over 10 years

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 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.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to the profit

and loss account over the expected useful life of the assets. Grants received towards revenue expenditure are released to the

profit and loss account as the related expenditure is incurred.

Going concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are dependant

upon the continued support of the director who has undertaken to provide such support for the foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets to their

recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as current assets and

long term liabilities as current assets.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2018

and 31 December 2018

149,253

DEPRECIATION

At 1 January 2018

107,401

Charge for year

8,889

At 31 December 2018

116,290

NET BOOK VALUE

At 31 December 2018

32,963

At 31 December 2017

41,852

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Other debtors

25,000

25,000

VAT

22,876

11,216

Deferred tax asset

9,738

-

Prepayments and accrued income

64,626

64,626

122,240

100,842

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.18

31.12.17

£

£

Trade creditors

137,111

58,982

Other creditors

40,000

40,000

Accrued expenses

515

500

177,626

99,482

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.18

31.12.17

£

£

Other loans - 1-2 years

19,985

19,985

7.

RESERVES

Retained

earnings

£

At 1 January 2018

18,982

Deficit for the year

(60,498

)

At 31 December 2018

(41,516

)

8.	RELATED PARTY DISCLOSURES