Jewells Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 08165039 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2017

FOR

JEWELLS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Accountants' Report

7

DIRECTOR:

J Brooke

REGISTERED OFFICE:

Jewells Farm

Hemyock

Cullompton

Devon

EX15 3PX

REGISTERED NUMBER:

08165039 (England and Wales)

ACCOUNTANTS:

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

FIXED ASSETS

Tangible assets

3

41,852

57,819

CURRENT ASSETS

Debtors

4

100,842

42,332

Cash at bank and in hand

316

9,447

101,158

51,779

CREDITORS

Amounts falling due within one year

5

99,482

55,435

NET CURRENT ASSETS/(LIABILITIES)

1,676

(3,656

)

TOTAL ASSETS LESS CURRENT LIABILITIES

43,528

54,163

CREDITORS

Amounts falling due after more than one year

6

(19,985

)

(19,985

)

PROVISIONS FOR LIABILITIES

(4,461

)

(6,816

)

NET ASSETS

19,082

27,362

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

7

18,982

27,262

SHAREHOLDERS' FUNDS

19,082

27,362

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 14 September 2018 and were signed by:

J Brooke - Director

1.	STATUTORY INFORMATION

Jewells 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Plant and machinery etc

-

20% on cost and 10% on cost

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.

Government grants

Government grants received are credited to deferred income. Grants towards capital expenditure are released to

the profit and loss account over the expected useful life of the assets. Grants received towards revenue

expenditure are released to the profit and loss account as the related expenditure is incurred.

Going concern

The financial statements have been prepared on a going concern basis. The company's ongoing activities are

dependant upon the continued support of the director who has undertaken to provide such support for the

foreseeable future.

If the going concern basis were not appropriate, adjustments would have to be made to reduce the value of assets

to their recoverable amount, to provide for any further liabilities that may arise and to reclassify fixed assets as

current assets and long term liabilities as current assets.

3.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 January 2017

and 31 December 2017

149,253

DEPRECIATION

At 1 January 2017

91,434

Charge for year

15,967

At 31 December 2017

107,401

NET BOOK VALUE

At 31 December 2017

41,852

At 31 December 2016

57,819

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Other debtors

25,000

35,000

VAT

11,216

7,332

Prepayments and accrued income

64,626

-

100,842

42,332

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.17

31.12.16

£

£

Trade creditors

58,982

54,408

Other creditors

40,000

-

Accrued expenses

500

1,027

99,482

55,435

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.12.17

31.12.16

£

£

Other loans - 1-2 years

19,985

19,985

7.

RESERVES

Retained

earnings

£

At 1 January 2017

27,262

Deficit for the year

(8,280

)

At 31 December 2017

18,982

8.	RELATED PARTY DISCLOSURES

The following reproduces the text of the report prepared for the director in respect of the company's annual

unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file

a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the

Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Jewells Limited for the year ended 31 December 2017 which comprise the Income Statement,

Balance Sheet and the related notes 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 (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of Jewells Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Jewells Limited and state those matters that we have agreed to state to the director of Jewells Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jewells Limited and its director for our work or for this report.

It is your duty to ensure that Jewells Limited 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 loss of Jewells Limited. You consider that Jewells Limited 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 Jewells Limited. 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.

Mitchells Chartered Accountants

St. John's House,

Castle Street,

Taunton

Somerset

TA1 4AY

14 September 2018