A._YOUNG_(WHOLESALE_JEWEL - Accounts

A. YOUNG (WHOLESALE JEWELLERS 1981) LIMITED - Company Information

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Company Registration No. 01576438 (England and Wales)

A. YOUNG (WHOLESALE JEWELLERS 1981) LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2014

A. YOUNG (WHOLESALE JEWELLERS 1981) LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

A. YOUNG (WHOLESALE JEWELLERS 1981) LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 DECEMBER 2014

- 1 -

2014

2013

Notes

Fixed assets

Tangible assets

1,327

3,289

Current assets

Stocks

34,334

48,110

Debtors

246,077

213,898

Cash at bank and in hand

23,257

51,216

303,668

313,224

Creditors: amounts falling due within one year

(104,760)

(136,344)

Net current assets

198,908

176,880

Total assets less current liabilities

200,235

180,169

Capital and reserves

Called up share capital

300,000

Profit and loss account

(99,765)

(119,831)

Shareholders' funds

200,235

180,169

For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 18 September 2015

Mr G Malas

Director

Company Registration No. 01576438

A. YOUNG (WHOLESALE JEWELLERS 1981) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 DECEMBER 2014

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently.

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Computer equipment

straight line over three years

Fixtures, fittings and equipment

15% reducing balance

Motor vehicles

25% reducing balance

1.5

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.6

Stock

Stock is valued at the lower of cost and net realisable value.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to the profit and loss account.

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company has not prepared group accounts as it is exempt from the requirement to do so by section 400 of the Companies Act 2006 as it is a subsidiary undertaking of Wholesale Management Services Limited Inc, a company incorporated in Panama.

A. YOUNG (WHOLESALE JEWELLERS 1981) LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 DECEMBER 2014

- 3 -

Fixed assets

Tangible assets

Cost

At 1 January 2014

50,237

Disposals

(17,264)

At 31 December 2014

32,973

Depreciation

At 1 January 2014

46,948

On disposals

(15,536)

Charge for the year

234

At 31 December 2014

31,646

Net book value

At 31 December 2014

1,327

At 31 December 2013

3,289

Debtors

Debtors include an amount of £208241 (2013 - £208,241) which is due after more than one year.

Share capital

2014

2013

Allotted, called up and fully paid

300,000 Ordinary shares of £1 each

300,000

Ultimate parent company

The company's ultimate parent undertaking is Wholesale Management Services Limited Inc, a company incorporated in Panama.

The ultimate controlling interest in the parent undertaking is held by Mr G Malas.