Element Jewellery (HB) Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 12690211 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

ELEMENT JEWELLERY (HB) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M A Coup

Mrs D R George-Coup

REGISTERED OFFICE:

25 Market Street

Hebden Bridge

West Yorkshire

HX7 6EU

REGISTERED NUMBER:

12690211 (England and Wales)

ACCOUNTANTS:

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

FIXED ASSETS

Intangible assets

4

24,405

27,455

Tangible assets

5

2,048

1,848

26,453

29,303

CURRENT ASSETS

Stocks

51,683

50,000

Debtors

6

26,240

13,550

Cash at bank and in hand

57,220

35,795

135,143

99,345

CREDITORS

Amounts falling due within one year

7

111,390

107,031

NET CURRENT ASSETS/(LIABILITIES)

23,753

(7,686

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,206

21,617

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

50,196

21,607

SHAREHOLDERS' FUNDS

50,206

21,617

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 and authorised for issue on 24 November 2022 and were signed on its behalf by:

M A Coup - Director

1.	STATUTORY INFORMATION

Element Jewellery (HB) Ltd 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 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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 etc

-

over 4 years

Stocks

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2021 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

30,506

AMORTISATION

At 1 April 2021

3,051

Charge for year

3,050

At 31 March 2022

6,101

NET BOOK VALUE

At 31 March 2022

24,405

At 31 March 2021

27,455

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 April 2021

1,942

Additions

856

At 31 March 2022

2,798

DEPRECIATION

At 1 April 2021

94

Charge for year

656

At 31 March 2022

750

NET BOOK VALUE

At 31 March 2022

2,048

At 31 March 2021

1,848

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

8,513

5,723

Other debtors

17,727

7,827

26,240

13,550

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade creditors

2,756

2,476

Taxation and social security

11,519

6,635

Other creditors

97,115

97,920

111,390

107,031

8.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the year ended 31 March 2022 and the period ended 31 March 2021:

2022

2021

£

£

M A Coup and Mrs D R George-Coup

Balance outstanding at start of year

-

-

Amounts advanced

470

-

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

470

-