PAHAL_JEWELLERS_LTD - Accounts

PAHAL JEWELLERS LTD - Company Information

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Company Registration No. 04596976 (England and Wales)

PAHAL JEWELLERS LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

PAHAL JEWELLERS LTD

CONTENTS

Page

Accountants' report

Abbreviated balance sheet

2 - 3

Notes to the abbreviated accounts

PAHAL JEWELLERS LTD

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF PAHAL JEWELLERS LTD FOR THE YEAR ENDED 30 NOVEMBER 2015

- 1 -

The following reproduces the text of the Accountants' Report prepared in respect of the company's annual unaudited financial statements, from which the unaudited abbreviated financial statements set out on pages 2 to 4 have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of PAHAL JEWELLERS LTD for the year ended 30 November 2015 set out on pages 3 to 9 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales, we are subject to its ethical and other professional requirements which are detailed at icaew.com/regulations.

This report is made solely to the Board of Directors of PAHAL JEWELLERS LTD, as a body, in accordance with the terms of our engagement letter dated 30 November 2010. Our work has been undertaken solely to prepare for your approval the financial statements of PAHAL JEWELLERS LTD and state those matters that we have agreed to state to the Board of Directors of PAHAL JEWELLERS LTD, as a body, in this report in accordance with AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than PAHAL JEWELLERS LTD and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that PAHAL JEWELLERS LTD has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of PAHAL JEWELLERS LTD. You consider that PAHAL JEWELLERS LTD is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of PAHAL JEWELLERS LTD. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

patara is a trading style of TS Patara & Co Ltd

12 August 2016

Chartered Accountants

352 Bearwood Rd

Bearwood

Birmingham

PAHAL JEWELLERS LTD

ABBREVIATED BALANCE SHEET

AS AT

30 NOVEMBER 2015

- 2 -

2015

2014

Notes

Fixed assets

Intangible assets

5,775

6,300

Tangible assets

228

567

6,003

6,867

Current assets

Stocks

497,850

465,750

Debtors

10,289

13,088

Cash at bank and in hand

70,128

87,726

578,267

566,564

Creditors: amounts falling due within one year

(570,972)

(572,786)

Net current assets/(liabilities)

7,295

(6,222)

Total assets less current liabilities

13,298

645

Provisions for liabilities

(46)

(113)

13,252

532

Capital and reserves

Called up share capital

100

Profit and loss account

13,152

432

Shareholders' funds

13,252

532

PAHAL JEWELLERS LTD

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

30 NOVEMBER 2015

- 3 -

For the financial year ended 30 November 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 12 August 2016

Mr Darshan Pahal

Director

Company Registration No. 04596976

PAHAL JEWELLERS LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2015

- 4 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts.

1.4

Goodwill

Acquired goodwill is written off in equal annual instalments over its estimated useful economic life of 20 years.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Fixtures, fittings & equipment

15% on cost

Motor vehicles

25% on cost

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 December 2014 & at 30 November 2015

10,500

25,925

36,425

Depreciation

At 1 December 2014

4,200

25,358

29,558

Charge for the year

525

339

864

At 30 November 2015

4,725

25,697

30,422

Net book value

At 30 November 2015

5,775

228

6,003

At 30 November 2014

6,300

567

6,867

Share capital

2015

2014

Allotted, called up and fully paid

100 Ordinary Shares of £1 each

100