G French Jewellery Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11330090 (England and Wales)

G French Jewellery Limited

Unaudited Financial Statements For The Year Ended 31 March 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

G French

REGISTERED OFFICE:

17 St Sepulchre Gate

Doncaster

DN1 1TD

REGISTERED NUMBER:

11330090 (England and Wales)

ACCOUNTANTS:

Kingswood Allotts Limited

Chartered Accountants

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

FIXED ASSETS

Tangible assets

4

33,659

42,834

CURRENT ASSETS

Stocks

5

244,000

242,000

Debtors

6

23,849

10,344

Cash at bank

56,923

82,468

324,772

334,812

CREDITORS

Amounts falling due within one year

7

171,963

203,664

NET CURRENT ASSETS

152,809

131,148

TOTAL ASSETS LESS CURRENT LIABILITIES

186,468

173,982

CREDITORS

Amounts falling due after more than one year

8

(36,026

)

(52,665

)

PROVISIONS FOR LIABILITIES

(6,400

)

(8,150

)

NET ASSETS

144,042

113,167

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

143,942

113,067

SHAREHOLDERS' FUNDS

144,042

113,167

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

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

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 21 December 2023 and were signed by:

G French - Director

1.	STATUTORY INFORMATION

G French 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

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

25% on cost

Motor vehicles

-

25% on reducing balance

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

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Grants

Grants received in respect of revenue expenditure are credited to the profit and loss account in the year to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2022

11,181

9,245

43,862

1,186

65,474

Additions

3,049

-

-

350

3,399

At 31 March 2023

14,230

9,245

43,862

1,536

68,873

DEPRECIATION

At 1 April 2022

2,617

3,837

15,742

444

22,640

Charge for year

3,238

1,995

7,030

311

12,574

At 31 March 2023

5,855

5,832

22,772

755

35,214

NET BOOK VALUE

At 31 March 2023

8,375

3,413

21,090

781

33,659

At 31 March 2022

8,564

5,408

28,120

742

42,834

5.

STOCKS

2023

2022

£

£

Raw materials

244,000

242,000

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

-

8,677

Directors' current accounts

22,182

-

Prepayments and accrued income

1,667

1,667

23,849

10,344

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

9,938

9,915

Hire purchase contracts

6,617

6,282

Trade creditors

52,634

86,867

Taxation

23,627

22,954

Social security and other taxes

27,708

26,913

Other creditors

48,239

46,859

Accrued expenses

3,200

3,874

171,963

203,664

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans - 1-2 years

9,934

9,915

Bank loans - 2-5 years

12,645

22,686

Hire purchase contracts

13,447

20,064

36,026

52,665

9.	SECURED DEBTS

The following secured debts are included within creditors:

2023

2022

£

£

Hire purchase contracts

20,064

26,346

The hire purchase contracts are secured on the asset to which the contracts relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2023

2022

value:

£

£

90

A Shares

£1

90

90

10

B Shares

£1

10

10

100

100

11.	RELATED PARTY DISCLOSURES

Amount owing to the company from director G French of £22182 (2022:£0)

Loan is interest free and repaid 30/06/2023