Element Jewellery (HB) Ltd - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 12690211 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MARCH 2023

FOR

ELEMENT JEWELLERY (HB) LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M A Coup

Mrs D R George-Coup

REGISTERED OFFICE:

25 Market Street

Hebden Bridge

West Yorkshire

HX7 6EU

REGISTERED NUMBER:

12690211 (England and Wales)

ACCOUNTANTS:

Cresswells

12 Market Street

Hebden Bridge

West Yorkshire

HX7 6AD

FIXED ASSETS

Intangible assets

4

21,354

24,405

Tangible assets

5

32,009

2,048

Investment property

6

96,405

-

149,768

26,453

CURRENT ASSETS

Stocks

53,500

51,683

Debtors

7

69,106

26,240

Cash at bank and in hand

20,491

57,220

143,097

135,143

CREDITORS

Amounts falling due within one year

8

179,758

111,390

NET CURRENT (LIABILITIES)/ASSETS

(36,661

)

23,753

TOTAL ASSETS LESS CURRENT LIABILITIES

113,107

50,206

CREDITORS

Amounts falling due after more than one year

9

58,855

-

NET ASSETS

54,252

50,206

CAPITAL AND RESERVES

Called up share capital

10

10

Retained earnings

54,242

50,196

SHAREHOLDERS' FUNDS

54,252

50,206

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2023 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 19th December 2023 and were signed on its behalf by:

M A Coup - Director

1.	STATUTORY INFORMATION

Element Jewellery (HB) Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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

-

over 4 years

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1st April 2022

and 31st March 2023

30,506

AMORTISATION

At 1st April 2022

6,101

Charge for year

3,051

At 31st March 2023

9,152

NET BOOK VALUE

At 31st March 2023

21,354

At 31st March 2022

24,405

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1st April 2022

2,798

Additions

30,696

At 31st March 2023

33,494

DEPRECIATION

At 1st April 2022

750

Charge for year

735

At 31st March 2023

1,485

NET BOOK VALUE

At 31st March 2023

32,009

At 31st March 2022

2,048

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

Additions

96,405

At 31st March 2023

96,405

NET BOOK VALUE

At 31st March 2023

96,405

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

10,670

8,513

Other debtors

58,436

17,727

69,106

26,240

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

7,868

-

Trade creditors

12,452

2,756

Taxation and social security

11,744

11,519

Other creditors

147,694

97,115

179,758

111,390

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

58,855

-

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31st March 2023 and 31st March 2022:

2023

2022

£

£

M A Coup and Mrs D R George-Coup

Balance outstanding at start of year

470

-

Amounts advanced

3,454

470

Amounts repaid

(3,924

)

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

-

470