Luxury Watch Repairs Retail Limited - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 11868791 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 May 2022

for

Luxury Watch Repairs Retail Limited

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

Mr Oliver Pollock

SECRETARY:

REGISTERED OFFICE:

88-90 Hatton Garden

London

EC1N 8PN

REGISTERED NUMBER:

11868791 (England and Wales)

ACCOUNTANTS:

Cantelowes Ltd

15 Bowling Green Lane

London

EC1R 0BD

FIXED ASSETS

Tangible assets

4

27,966

31,783

CURRENT ASSETS

Stocks

-

29,950

Debtors

5

733

3,644

Cash at bank

268

1,232

1,001

34,826

CREDITORS

Amounts falling due within one year

6

59,265

87,635

NET CURRENT LIABILITIES

(58,264

)

(52,809

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(30,298

)

(21,026

)

CREDITORS

Amounts falling due after more than one year

7

30,833

-

NET LIABILITIES

(61,131

)

(21,026

)

CAPITAL AND RESERVES

Called up share capital

1

1

Retained earnings

(61,132

)

(21,027

)

(61,131

)

(21,026

)

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2022 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 28 February 2023 and were signed by:

Mr Oliver Pollock - Director

1.	STATUTORY INFORMATION

Luxury Watch Repairs Retail 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.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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 2 (2021 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 June 2021

and 31 May 2022

47,527

DEPRECIATION

At 1 June 2021

15,744

Charge for year

3,817

At 31 May 2022

19,561

NET BOOK VALUE

At 31 May 2022

27,966

At 31 May 2021

31,783

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Trade debtors

732

-

Other debtors

1

3,644

733

3,644

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2022

2021

£

£

Bank loans and overdrafts

10,000

50,000

Trade creditors

-

360

Taxation and social security

10,884

5,741

Other creditors

38,381

31,534

59,265

87,635

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2022

2021

£

£

Bank loans

30,833

-