Sacre Bleu Gems Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 05240538 (England and Wales)

Unaudited Financial Statements

for the Year Ended 30 September 2019

for

Sacre Bleu Gems Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

M H Azizollahoff

SECRETARY:

M Azizollahoff

REGISTERED OFFICE:

40 Hale Grove Gardens

London

NW7 3LP

REGISTERED NUMBER:

05240538 (England and Wales)

ACCOUNTANTS:

Town & Forest

Chartered Accountants

Suite 203, Second Floor

China House

401 Edgware Road

London

NW2 6GY

FIXED ASSETS

Tangible assets

4

1,498

1,762

CURRENT ASSETS

Stocks

5

361,250

345,750

Debtors

6

40,977

61,493

Cash at bank and in hand

159

3,860

402,386

411,103

CREDITORS

Amounts falling due within one year

7

61,997

71,326

NET CURRENT ASSETS

340,389

339,777

TOTAL ASSETS LESS CURRENT LIABILITIES

341,887

341,539

CREDITORS

Amounts falling due after more than one year

8

436,486

374,494

NET LIABILITIES

(94,599

)

(32,955

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(94,699

)

(33,055

)

SHAREHOLDERS' FUNDS

(94,599

)

(32,955

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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 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 23 June 2020 and were signed by:

M H Azizollahoff - Director

1.	STATUTORY INFORMATION

Sacre Bleu Gems 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities"

of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of

Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost

convention, and in accordance with the accounting policies set out below.

Going concern

At 30 September 2019, the balance sheet showed net current assets of £340,389 (2018 - £339,777) but a net

deficit of £94,599 (2018 - £32,955). The director has given an undertaking to financially support the company

for at least 12 months from the date of signature on the balance sheet. The situation will be reviewed after this

time. On this basis, the director considers it appropriate to prepare the financial statements on the going concern

basis.

Turnover

Turnover is measured at the fair value of the consideration received, excluding discounts, rebates, value added

tax and other sales taxes. Turnover is recognised at the point of sale.

Tangible fixed assets

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

Fixtures and fittings

-

15% 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.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the

balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at

the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and

the amount can be reliably estimated. Provisions are not recognised for future operating losses.

Trade debtors

Trade debtors are carried at original net invoice amount less an estimate for doubtful debtors. Bad debts are

written off when identified. Specific provisions are made against debts whose recovery is considered doubtful.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2018 - 1 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 October 2018

and 30 September 2019

5,039

DEPRECIATION

At 1 October 2018

3,277

Charge for year

264

At 30 September 2019

3,541

NET BOOK VALUE

At 30 September 2019

1,498

At 30 September 2018

1,762

5.

STOCKS

30.9.19

30.9.18

£

£

Stocks

361,250

345,750

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Trade debtors

37,212

42,550

Other debtors

-

14,818

VAT

3,765

4,125

40,977

61,493

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.9.19

30.9.18

£

£

Bank loans and overdrafts

9,969

-

Trade creditors

49,732

67,457

Other creditors

130

211

Accrued expenses

2,166

3,658

61,997

71,326

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.9.19

30.9.18

£

£

Directors' loan accounts

436,486

374,494

9.	SECURED DEBTS

Barclays Bank PLC and HSBC Bank PLC hold fixed and floating charges over Sacre Bleu Gems Limited. The

floating charges cover all of the property or undertaking of the company.