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

REGISTERED NUMBER: 03463384 (England and Wales)

Financial Statements

for the Year Ended 31 January 2020

for

Jon Dibben Jewellery Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

J K Dibben

REGISTERED OFFICE:

40a Smithbrook Kilns

Cranleigh

Surrey

GU6 8JJ

REGISTERED NUMBER:

03463384 (England and Wales)

ACCOUNTANTS:

Barnbrook Sinclair

Chartered Accountants

Chancery House

30 St Johns Road

Woking

Surrey

GU21 7SA

FIXED ASSETS

Property, plant and equipment

5

2,937

4,660

CURRENT ASSETS

Inventories

164,739

181,563

Debtors

6

8,080

664

Cash at bank and in hand

16,444

34,350

189,263

216,577

CREDITORS

Amounts falling due within one year

7

(56,257

)

(36,675

)

NET CURRENT ASSETS

133,006

179,902

TOTAL ASSETS LESS CURRENT LIABILITIES

135,943

184,562

CREDITORS

Amounts falling due after more than one year

8

(114,094

)

(132,079

)

NET ASSETS

21,849

52,483

CAPITAL AND RESERVES

Called up share capital

600

600

Capital redemption reserve

450

450

Retained earnings

20,799

51,433

SHAREHOLDERS' FUNDS

21,849

52,483

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2020 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 January 2021 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.

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

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

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.

Plant and machinery

-

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

Inventories 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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2019 - 5 ) .

5.	PROPERTY, PLANT AND EQUIPMENT

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

Cost

At 1 February 2019

and 31 January 2020

1,908

84,954

13,315

100,177

Depreciation

At 1 February 2019

762

83,419

11,336

95,517

Charge for year

382

665

676

1,723

At 31 January 2020

1,144

84,084

12,012

97,240

Net book value

At 31 January 2020

764

870

1,303

2,937

At 31 January 2019

1,146

1,535

1,979

4,660

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/20

31/1/19

£

£

Other debtors

8,080

664

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31/1/20

31/1/19

£

£

Trade creditors

1,567

5,934

Taxation and social security

13,552

16,545

Other creditors

41,138

14,196

56,257

36,675

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31/1/20

31/1/19

£

£

Other creditors

114,094

132,079

9.	LEASING AGREEMENTS

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

31/1/20

31/1/19

£

£

Within one year

7,149

7,149

10.	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 2020, the company's indebtedness with HSBC Plc was £nil (2019 - £nil).