J. Collins & Company (Jewellers) Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00489955 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 DECEMBER 2020

FOR

J. COLLINS & COMPANY (JEWELLERS) LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

J Evans

Registered office:

74 Cranmore Boulevard

Shirley

Solihull

West Midlands

B90 4RU

Registered number:

00489955 (England and Wales)

Accountants:

Athos Business Solutions Limited

1623 Warwick Road

Knowle

Solihull

West Midlands

B93 9LF

FIXED ASSETS

Tangible assets

4

12

16

CURRENT ASSETS

Stocks

8,750

9,966

Debtors

5

7,873

9,044

Cash at bank

348,117

477,026

364,740

496,036

CREDITORS

Amounts falling due within one year

6

5,220

102,498

NET CURRENT ASSETS

359,520

393,538

TOTAL ASSETS LESS CURRENT LIABILITIES

359,532

393,554

CAPITAL AND RESERVES

Called up share capital

2,100

2,100

Retained earnings

357,432

391,454

359,532

393,554

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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 Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 14 September 2021 and were signed by:

J Evans - Director

1.	STATUTORY INFORMATION

J. Collins & Company (Jewellers) 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.

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.

Tangible fixed assets

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

Fixtures & Fittings

-

25% on reducing balance

Computer equipment

-

33% on cost

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2019 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Computer

& Fittings

equipment

Totals

£

£

£

Cost

At 1 January 2020

and 31 December 2020

2,983

1,381

4,364

Depreciation

At 1 January 2020

2,967

1,381

4,348

Charge for year

4

-

4

At 31 December 2020

2,971

1,381

4,352

Net book value

At 31 December 2020

12

-

12

At 31 December 2019

16

-

16

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

6,276

9,044

Other debtors

1,597

-

7,873

9,044

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

1,807

981

Taxation and social security

143

79,174

Other creditors

3,270

22,343

5,220

102,498