Sarah Layton (Jewellery) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07187769 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE PERIOD 1 APRIL 2018 TO 31 DECEMBER 2018

FOR

SARAH LAYTON (JEWELLERY) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Miss L S Holmes

Mrs G C Layton-Hill

Mrs L J Rogers

REGISTERED OFFICE:

71 King Street

Whalley

CLITHEROE

BB7 9SW

REGISTERED NUMBER:

07187769 (England and Wales)

ACCOUNTANTS:

Wallwork Nelson & Johnson

Chandler House

7 Ferry Road Office Park

Riversway

Preston

Lancashire

PR2 2YH

FIXED ASSETS

Tangible assets

4

60,166

86,046

CURRENT ASSETS

Stocks

-

611,175

Debtors

5

587,467

-

Cash at bank

-

61

587,467

611,236

CREDITORS

Amounts falling due within one year

6

406,308

403,363

NET CURRENT ASSETS

181,159

207,873

TOTAL ASSETS LESS CURRENT LIABILITIES

241,325

293,919

CREDITORS

Amounts falling due after more than one year

7

30,530

78,286

NET ASSETS

210,795

215,633

CAPITAL AND RESERVES

Called up share capital

50

50

Retained earnings

210,745

215,583

210,795

215,633

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

The members have not required the company to obtain an audit of its financial statements for the period 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 5 December 2019 and were signed on its behalf by:

Mrs G C Layton-Hill - Director

1.	STATUTORY INFORMATION

Sarah Layton (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.

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.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

20% on cost

Computer equipment

-

20% on cost

Stocks

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

moving items.

Taxation

Taxation for the period 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 period 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the period was 6 (2018 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 April 2018

and 31 December 2018

153,941

23,332

14,098

191,371

DEPRECIATION

At 1 April 2018

86,486

5,809

13,030

105,325

Charge for period

23,091

2,629

160

25,880

At 31 December 2018

109,577

8,438

13,190

131,205

NET BOOK VALUE

At 31 December 2018

44,364

14,894

908

60,166

At 31 March 2018

67,455

17,523

1,068

86,046

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/3/18

£

£

Amounts owed by group undertakings

587,467

-

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/12/18

31/3/18

£

£

Bank loans and overdrafts

73,322

64,345

Trade creditors

159,722

19,400

Amounts owed to group undertakings

-

243,011

Tax

19,489

23,358

Social security and other taxes

2,563

2,161

VAT

55,243

46,444

Directors' current accounts

1,674

1,894

Accrued expenses

94,295

2,750

406,308

403,363

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/12/18

31/3/18

£

£

Bank loans - 1-2 years

30,530

64,296

Bank loans - 2-5 years

-

13,990

30,530

78,286