Carrick Jewellery Limited
Carrick Jewellery Limited
Registered number: SC049657
Unaudited Financial Statements
For The Year Ended
31 March 2022
Almond Valley Accounting Limited
CIMA
17 Ellismuir House
Ellismuir Way
Tannochside
G71 5PW
Carrick Jewellery Limited
Unaudited Financial Statements
For The Year Ended
31 March 2022
Unaudited Financial Statements
| Contents | |
| Page | |
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| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Carrick Jewellery Limited
Balance Sheet
As at
31 March 2022
Balance Sheet
Registered number:
SC049657
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges her responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
| 31 March 2022 | 31 March 2021 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Intangible Assets | 3 |
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| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| Creditors: Amounts Falling Due Within One Year | 7 |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 8 |
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| NET ASSETS |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Capital redemption reserve |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | 215,940 | 122,777 | |||
Carrick Jewellery Limited
Balance Sheet (continued)
As at
31 March 2022
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Carrick Jewellery Limited
Notes to the Financial Statements
For The Year Ended
31 March 2022
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
1.2.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
1.3.
Intangible Fixed Assets and Amortisation - Goodwill
Goodwill is the difference between amounts paid on the acquisition of a business and the fair value of the separable net assets. It is amortised to profit and loss account over its estimated economic life of 10 years.
1.4.
Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Plant & Machinery |
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| Motor Vehicles |
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| Fixtures & Fittings |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
1.6.
Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current tax is also recognised in other comprehensive income or directly in equity respectively.
2.
Average Number of Employees
Average number of employees, including directors, during the year was as follows: 31 (2021: 1)
Carrick Jewellery Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
3.
Intangible Assets
| Goodwill | |||
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| Amortisation | |||
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| Net Book Value | |||
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4.
Tangible Assets
| Land & Property | |||||
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| Freehold | Plant & Machinery | Motor Vehicles | Fixtures & Fittings | Total | |
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| Additions |
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| Depreciation | |||||
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| Provided during the period |
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| Net Book Value | |||||
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5.
Stocks
| 31 March 2022 | 31 March 2021 | ||
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| Stock - materials and work in progress | 2,000 | - | |
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Carrick Jewellery Limited
Notes to the Financial Statements (continued)
For The Year Ended
31 March 2022
6.
Debtors
| 31 March 2022 | 31 March 2021 | ||
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| Due within one year | |||
| Trade debtors |
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| Inter company accounts |
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| Other debtors (RHP) (Debtors < 1 year) |
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7.
Creditors: Amounts Falling Due Within One Year
| 31 March 2022 | 31 March 2021 | ||
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| £ | £ | ||
| Trade creditors |
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| Corporation tax |
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| Other taxes and social security |
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| VAT |
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| Other creditors |
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| Other creditors (RHP) (Current liabilities - creditors < 1 year) |
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| Other creditors (CP) (Current liabilities - creditors < 1 year) |
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| Funds due re sale of Courtyard |
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| Giift vouchers |
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| Credit card |
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| Accruals and deferred income |
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| Director's loan account |
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8.
Creditors: Amounts Falling Due After More Than One Year
| 31 March 2022 | 31 March 2021 | ||
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| £ | £ | ||
| Other creditors (CP) (Long term liabilities - creditors > 1 year) |
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10.
General Information
Carrick Jewellery Limited
is a private company, limited by shares, incorporated in Scotland, registered number
SC049657
. The registered office is 24 Gordon Street, Glasgow, G1 3PU.