Calibre Gems & Jewellery Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 07486606 (England and Wales)

Financial Statements for the Year Ended 31 January 2023

for

Calibre Gems & Jewellery Limited

Page

Company Information

1

Abridged Statement of Financial Position

2

Notes to the Financial Statements

4

DIRECTOR:

S Khan

SECRETARY:

REGISTERED OFFICE:

36 Queens Road

Newbury

Berkshire

RG14 7NE

REGISTERED NUMBER:

07486606 (England and Wales)

ACCOUNTANTS:

Accounting & Taxation Centre BTD

36 Queens Road

Newbury

Berkshire

RG14 7NE

FIXED ASSETS

Intangible assets

4

-

-

Property, plant and equipment

5

342,377

341,865

342,377

341,865

CURRENT ASSETS

Inventories

142,560

135,410

Debtors

208,653

691,895

Cash at bank and in hand

222,881

85,341

574,094

912,646

CREDITORS

Amounts falling due within one year

124,628

581,361

NET CURRENT ASSETS

449,466

331,285

TOTAL ASSETS LESS CURRENT LIABILITIES

791,843

673,150

CAPITAL AND RESERVES

Called up share capital

200

200

Retained earnings

791,643

672,950

SHAREHOLDERS' FUNDS

791,843

673,150

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

All the members have consented to the preparation of an abridged Statement of Income and Retained Earnings and an abridged Statement of Financial Position for the year ended 31 January 2023 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 26 October 2023 and were signed by:

S Khan - Director

1.	STATUTORY INFORMATION

Calibre Gems & Jewellery 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

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of four years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance

Stocks

Inventories 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 Statement of Income and Retained Earnings, 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.

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 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 February 2022

and 31 January 2023

9,600

AMORTISATION

At 1 February 2022

and 31 January 2023

9,600

NET BOOK VALUE

At 31 January 2023

-

At 31 January 2022

-

5.	PROPERTY, PLANT AND EQUIPMENT

Totals

£

COST

At 1 February 2022

344,354

Additions

1,774

At 31 January 2023

346,128

DEPRECIATION

At 1 February 2022

2,489

Charge for year

1,262

At 31 January 2023

3,751

NET BOOK VALUE

At 31 January 2023

342,377

At 31 January 2022

341,865