L_&_R_JOSYFON_LIMITED - Accounts

L.& R.JOSYFON LIMITED - Company Information

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Company Registration No. 00686131 (England and Wales)

L & R JOSYFON LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2016

L & R JOSYFON LIMITED

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

L & R JOSYFON LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 JANUARY 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

16,878

33,237

Current assets

Stocks

3,428,143

3,521,519

Debtors

1,105,802

906,846

Cash at bank and in hand

298,932

71,865

4,832,877

4,500,230

Creditors: amounts falling due within one year

(1,863,732)

(1,675,441)

Net current assets

2,969,145

2,824,789

Total assets less current liabilities

2,986,023

2,858,026

Provisions for liabilities

(1,926)

(3,128)

2,984,097

2,854,898

Capital and reserves

Called up share capital

1,000

Profit and loss account

2,983,097

2,853,898

Shareholders' funds

2,984,097

2,854,898

For the financial year ended 31 January 2016 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 23 August 2016

Mr B R Josyfon

Director

Company Registration No. 00686131

L & R JOSYFON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 JANUARY 2016

- 2 -

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 January 2015).

1.2

Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. It relates to the company's principal activity of diamond merchants and jewellers.

1.3

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:

Land and buildings leasehold

Over the term of the lease

Fixtures, fittings & equipment

15% or 20% on straight line basis

Motor vehicles

25% on written down value

1.4

Leasing

Rentals payable under operating leases are charged against income on a straight line basis over the lease term.

1.5

Stock

Due to the specialist nature of the company's trade, stocks have been valued by the director at the lower of cost and estimated net realisable value at the Balance Sheet date. This basis is consistent with that employed in previous years.

1.6

Deferred taxation

Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

L & R JOSYFON LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 JANUARY 2016

- 3 -

Fixed assets

Tangible assets

Cost

At 1 February 2015

197,014

Additions

2,273

Disposals

(33,979)

At 31 January 2016

165,308

Depreciation

At 1 February 2015

163,777

On disposals

(28,655)

Charge for the year

13,308

At 31 January 2016

148,430

Net book value

At 31 January 2016

16,878

At 31 January 2015

33,237

Share capital

2016

2015

Allotted, called up and fully paid

1,000 Ordinary shares of £1 each

1,000