Linx Jewellers Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03494822 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2021

for

Linx Jewellers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mrs P Hollingworth

Mr A Hollingworth

REGISTERED OFFICE:

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

REGISTERED NUMBER:

03494822 (England and Wales)

ACCOUNTANTS:

SMH Haywood & Co Limited

24-26 Mansfield Road

Rotherham

South Yorkshire

S60 2DT

FIXED ASSETS

Tangible assets

4

81,682

85,760

Investments

5

1

1

81,683

85,761

CURRENT ASSETS

Stocks

196,317

180,972

Debtors

6

211,162

248,492

Cash at bank and in hand

33,569

47,923

441,048

477,387

CREDITORS

Amounts falling due within one year

7

(11,834

)

(40,187

)

NET CURRENT ASSETS

429,214

437,200

TOTAL ASSETS LESS CURRENT LIABILITIES

510,897

522,961

PROVISIONS FOR LIABILITIES

(2,580

)

(1,750

)

NET ASSETS

508,317

521,211

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

508,315

521,209

SHAREHOLDERS' FUNDS

508,317

521,211

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2021 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 27 January 2022 and were signed on its behalf by:

Mrs P Hollingworth - Director

Mr A Hollingworth - Director

1.	STATUTORY INFORMATION

Linx 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.

Land and buildings

-

2% on cost

Plant and machinery etc

-

25% on reducing balance, 20% on reducing balance, 20% on cost and 15% on reducing balance

Government grants

Asset related grants are credited to the profit and loss account over the expected useful life of the assets to which they relate. Revenue related grants are credited to the profit and loss account in the period to which they relate.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 7 (2020 - 8 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

property

machinery

fittings

£

£

£

COST

At 1 May 2020

104,416

75,483

23,356

Additions

-

-

-

At 30 April 2021

104,416

75,483

23,356

DEPRECIATION

At 1 May 2020

36,573

60,763

21,570

Charge for year

1,841

2,210

355

At 30 April 2021

38,414

62,973

21,925

NET BOOK VALUE

At 30 April 2021

66,002

12,510

1,431

At 30 April 2020

67,843

14,720

1,786

Motor

Computer

vehicles

equipment

Totals

£

£

£

COST

At 1 May 2020

11,146

6,793

221,194

Additions

-

913

913

At 30 April 2021

11,146

7,706

222,107

DEPRECIATION

At 1 May 2020

10,138

6,390

135,434

Charge for year

253

332

4,991

At 30 April 2021

10,391

6,722

140,425

NET BOOK VALUE

At 30 April 2021

755

984

81,682

At 30 April 2020

1,008

403

85,760

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 May 2020

and 30 April 2021

1

NET BOOK VALUE

At 30 April 2021

1

At 30 April 2020

1

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade debtors

15,163

18,213

Amounts owed by group undertakings

35,105

85,505

Amounts owed by associates

132,404

117,404

Other debtors

28,490

27,370

211,162

248,492

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Trade creditors

2,819

1,660

Taxation and social security

3,486

5,379

Other creditors

5,529

33,148

11,834

40,187

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

100

Ordinary

£1

2

2

9.	RELATED PARTY DISCLOSURES