Monarch Jewels Limited - Accounts to registrar (filleted) - small 18.2

Monarch Jewels Limited - Accounts to registrar (filleted) - small 18.2

MONARCH JEWELS LIMITED - Company Information

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REGISTERED NUMBER: 02275905 (England and Wales)









Unaudited Financial Statements

for the Year Ended 31 December 2019

for

Monarch Jewels Limited
Monarch Jewels Limited (Registered number: 02275905)






Contents of the Financial Statements
for the Year Ended 31 December 2019




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Monarch Jewels Limited

Company Information
for the Year Ended 31 December 2019







DIRECTOR: M Isaacs





REGISTERED OFFICE: 28 Greville Street
Suite 23, 2nd Floor
London
EC1N 8SU





REGISTERED NUMBER: 02275905 (England and Wales)





ACCOUNTANTS: Town & Forest
Chartered Accountants
Suite 203, Second Floor
China House
401 Edgware Road
London
NW2 6GY
Page 1
Monarch Jewels Limited (Registered number: 02275905)

Balance Sheet
31 December 2019

31.12.19 31.12.18
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 799 1,065

CURRENT ASSETS
Stocks 5 104,120 145,315
Debtors 6 184,038 132,459
Cash at bank 83,878 79,219
372,036 356,993
CREDITORS
Amounts falling due within one year 7 234,595 240,721
NET CURRENT ASSETS 137,441 116,272
TOTAL ASSETS LESS CURRENT
LIABILITIES
138,240
117,337

CAPITAL AND RESERVES
Called up share capital 40 40
Capital redemption reserve 60 60
Retained earnings 138,140 117,237
SHAREHOLDERS' FUNDS 138,240 117,337

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 22 September 2020 and were signed
by:





M Isaacs - Director


The notes form part of these financial statements

Page 2
Monarch Jewels Limited (Registered number: 02275905)

Notes to the Financial Statements
for the Year Ended 31 December 2019

1. STATUTORY INFORMATION

Monarch Jewels 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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, 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 each asset over its estimated useful life.
Fixtures and fittings - 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.

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.

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.

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.

Page 3 continued...
Monarch Jewels Limited (Registered number: 02275905)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

2. ACCOUNTING POLICIES - continued

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 January 2019
and 31 December 2019 13,816
DEPRECIATION
At 1 January 2019 12,751
Charge for year 266
At 31 December 2019 13,017
NET BOOK VALUE
At 31 December 2019 799
At 31 December 2018 1,065

5. STOCKS
31.12.19 31.12.18
£    £   
Stocks 104,120 145,315

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade debtors 166,702 124,443
Other debtors 2,000 2,000
Directors' current accounts 8,353 -
Prepayments and accrued income 6,983 6,016
184,038 132,459

Page 4 continued...
Monarch Jewels Limited (Registered number: 02275905)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2019

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.19 31.12.18
£    £   
Trade creditors 202,585 222,673
Tax 10,581 4,285
Social security and other taxes 140 180
VAT 20,118 10,651
Other creditors 21 467
Directors' current accounts - 36
Accrued expenses 1,150 2,429
234,595 240,721

8. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 December 2019 and
31 December 2018:

31.12.19 31.12.18
£    £   
M Isaacs
Balance outstanding at start of year (36 ) -
Amounts advanced 8,389 -
Amounts repaid - (36 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 8,353 (36 )

Page 5