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No description of principal activity
2016-08-15
Sage Accounts Production Advanced 2017 Update 2 - FRS
xbrli:pure
xbrli:shares
iso4217:GBP
10329241
2016-08-15
2017-08-31
10329241
2017-08-31
10329241
bus:LeadAgentIfApplicable
2016-08-15
2017-08-31
10329241
bus:Director1
2016-08-15
2017-08-31
10329241
core:WithinOneYear
2017-08-31
10329241
core:ShareCapital
2017-08-31
10329241
core:RetainedEarningsAccumulatedLosses
2017-08-31
10329241
bus:FRS102
2016-08-15
2017-08-31
10329241
bus:AuditExemptWithAccountantsReport
2016-08-15
2017-08-31
10329241
bus:AbridgedAccounts
2016-08-15
2017-08-31
10329241
bus:SmallCompaniesRegimeForAccounts
2016-08-15
2017-08-31
10329241
bus:PrivateLimitedCompanyLtd
2016-08-15
2017-08-31
|
Statement of Consent to Prepare Abridged Financial Statements |
|
All of the members of AB JEWELLERY LIMITED have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the period ending 31 August 2017 in accordance with Section 444(2A) of the Companies Act 2006.
COMPANY REGISTRATION NUMBER:
10329241
|
Filleted Unaudited Abridged Financial Statements |
|
|
Abridged Financial Statements |
|
Period from 15 August 2016 to 31 August 2017
|
Report to the director on the preparation of the unaudited statutory abridged financial statements |
1 |
|
|
|
Abridged statement of financial position |
2 |
|
|
|
Notes to the abridged financial statements |
3 |
|
|
|
Report to the Director on the Preparation of the Unaudited Statutory Abridged Financial Statements of
AB JEWELLERY LIMITED |
|
Period from 15 August 2016 to 31 August 2017
As described on the abridged statement of financial position, the director of the company is responsible for the preparation of the abridged financial statements for the period ended 31 August 2017, which comprise the abridged statement of financial position and the related notes. You consider that the company is exempt from an audit under the Companies Act 2006. In accordance with your instructions we have compiled these abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
BRAINWAVES
Basepoint Business Centre
Little High Street
Shoreham by Sea
West Sussex
BN43 5EG
16 January 2018
|
Abridged Statement of Financial Position |
|
31 August 2017
Current assets
|
Stocks |
3,006 |
|
Cash at bank and in hand |
1,179 |
|
------- |
|
4,185 |
|
|
|
Creditors: amounts falling due within one year |
1,832 |
|
------- |
|
Net current assets |
2,353 |
|
------- |
|
Total assets less current liabilities |
2,353 |
|
------- |
|
|
Capital and reserves
|
Called up share capital |
10 |
|
Profit and loss account |
2,343 |
|
------- |
|
Members funds |
2,353 |
|
------- |
|
|
These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.
For the period ending 31 August 2017 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 abridged financial statements for the period 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 abridged financial statements
.
These abridged financial statements were approved by the
board of directors
and authorised for issue on
16 January 2018
, and are signed on behalf of the board by:
Company registration number:
10329241
|
Notes to the Abridged Financial Statements |
|
Period from 15 August 2016 to 31 August 2017
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Basepoint Business Centre, Little High Street, Shoreham by Sea, West Sussex, BN43 5EG.
2.
Statement of compliance
These abridged financial statements have been prepared in compliance with the provisions of FRS 102 Section 1A, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The abridged financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The abridged financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the period amounted to
2
.
5.
Related party transactions
The company is under the control of A Bahrami who is the director and a shareholder. The majority of the shares are owned by a family member. At the financial statement date the company owed A Bahrami £34. Dividends were paid to the director in his capacity as shareholder.
