Jon Dibben Jewellery Limited - Accounts to registrar (filleted) - small 18.2

JON DIBBEN JEWELLERY LIMITED - Company Information

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REGISTERED NUMBER: 03463384 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2019

FOR

JON DIBBEN JEWELLERY LIMITED

Page

Company Information

Abridged Balance Sheet

Notes to the Financial Statements

DIRECTOR:

J K Dibben

REGISTERED OFFICE:

40a Smithbrook Kilns

Cranleigh

Surrey

GU6 8JJ

REGISTERED NUMBER:

03463384 (England and Wales)

FIXED ASSETS

Tangible assets

4,660

6,370

CURRENT ASSETS

Stocks

181,563

201,553

Debtors

664

18,322

Cash at bank and in hand

34,350

57,866

216,577

277,741

CREDITORS

Amounts falling due within one year

36,675

60,603

NET CURRENT ASSETS

179,902

217,138

TOTAL ASSETS LESS CURRENT
LIABILITIES

184,562

223,508

CREDITORS

Amounts falling due after more than one
year

132,079

88,160

NET ASSETS

52,483

135,348

CAPITAL AND RESERVES

Called up share capital

600

1,000

Capital redemption reserve

450

Retained earnings

51,433

134,348

SHAREHOLDERS' FUNDS

52,483

135,348

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 January 2019 in accordance with Section 444(2A) of the Companies Act 2006.

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 on 29 October 2019 and were signed by:

J K Dibben - Director

1.	STATUTORY INFORMATION

Jon Dibben Jewellery 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.

The financial statements are presented in sterling which is the functional currency of the company and rounded to

the nearest £.

Turnover

Turnover represents the manufacture and retail of jewellery, excluding value added tax, sold during the year.

Tangible fixed assets

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

Office equipment

20% on cost

Fixtures and fittings

25% on reducing balance and 20% on cost

Computer equipment

33% on cost and 25% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual

provisions of the instrument and are offset only when the company currently has a legally enforceable right to set

off the recognised amounts and intends either to settle on a net basis or to realise the asset and settle the liability

simultaneously.

Debtors which are receivable within one year and which do not constitute a financing transaction are initially

measured at the transaction price. Debtors are subsequently measured at amortised cost, being the transaction

price less any amounts settled any impairment losses.

A provision for impairment of debtors is established when there is evidence that the amounts due will not be

collected according to the original terms of the contract. Impairment losses are recognised in profit or loss for

the excess of the carrying value of the debtor over the present value of the future cash flows discounted using the

original effective interest rate. Subsequent reversals of an impairment loss that objectively relate to an event

accruing after the impairment loss was recognised are recognised immediately in profit or loss.

Creditors which are payable within one year and which do not constitute a financing transaction are initially

measured at the transaction price and subsequently measured at amortised cost, being the transaction price less

any amounts settled.

Taxation

Taxation for the year comprises current 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 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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2018 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Totals

Cost

At 1 February 2018

99,978

Additions

199

At 31 January 2019

100,177

Depreciation

At 1 February 2018

93,608

Charge for year

1,909

At 31 January 2019

95,517

Net book value

At 31 January 2019

4,660

At 31 January 2018

6,370

5.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2019

2018

Within one year

8,578

6.	SECURED DEBTS

On 15 December 1997, the company provided a guarantee in respect of its bank overdraft and bank loans with

HSBC Plc, which are secured by fixed and floating charges over the company's assets.

As at 31 January 2019, the company's indebtedness with HSBC Plc was £nil (2018 - £nil).

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

600

Ordinary

£1

600

1,000

On 22 March 2018, the company purchased 450 ordinary £1 shares. On 23 March 2018, the company issued 50

ordinary £1 shares via a rights issue.

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2019 and

31 January 2018:

2019

2018

J K Dibben

Balance outstanding at start of year

17,108

(7,000

)

Amounts advanced

5,253

24,108

Amounts repaid

(23,000

)

Amounts written off

Amounts waived

Balance outstanding at end of year

(639

)

17,108

The loan was repayable upon and carried interest at 2.5%.