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Registered Number: 09716543
England and Wales

 

 

 


Abridged Accounts

for the year ended 31 August 2021

for

MERCY JEWELLERY LTD

Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 August 2021 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
PSF Accounting
31 August 2021



....................................................
PSF Accounting
St Johns Innovation Centre
Cowley Road
Cambridge
CB4 0WS
21 July 2022
1
 
 
Notes
 
2021
£
  2020
£
Fixed assets      
Tangible fixed assets 2,243    2,990 
2,243    2,990 
Current assets      
Stocks 142,437    128,720 
Debtors 17,273    9,264 
Cash at bank and in hand 2,203   
161,913    137,984 
Creditors: amount falling due within one year (206,316)   (210,634)
Net current liabilities (44,403)   (72,650)
 
Total assets less current liabilities (42,160)   (69,660)
Creditors: amount falling due after more than one year (40,000)   (12,870)
Net liabilities (82,160)   (82,530)
 

Capital and reserves
     
Called up share capital 1    1 
Profit and loss account (82,161)   (82,531)
Shareholder's funds (82,160)   (82,530)
 


For the year ended 31 August 2021 the company was entitled to exemption from audit under section 477 of the companies act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the companies act 2006 with respect to accounting records and the preparation of accounts.
These 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 the provisions of Part 15 of the Companies Act 2006. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.

The members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the director on 21 July 2022 and were signed by:


--------------------------------
Rachel Parkin
Director
2
General Information
Mercy Jewellery Ltd is a private company, limited by shares, registered in England and Wales, registration number 09716543, registration address 61 Bridge Street, Bridge Street, Kington, HR5 3DJ

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 3 (2020 : 3).
3.

Tangible fixed assets

Cost or valuation Fixtures and Fittings   Total
  £   £
At 01 September 2020 3,737    3,737 
Additions  
Disposals  
At 31 August 2021 3,737    3,737 
Depreciation
At 01 September 2020 747    747 
Charge for year 747    747 
On disposals  
At 31 August 2021 1,494    1,494 
Net book values
Closing balance as at 31 August 2021 2,243    2,243 
Opening balance as at 01 September 2020 2,990    2,990 


4.

Share Capital

Allotted, called up and fully paid
2021
£
  2020
£
1 Class A share of £1.00 each  
 

3