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Company Registration No. 07495047 (England and Wales)
Banyan Jewellery Limited Unaudited accounts for the year ended 31 March 2022
Banyan Jewellery Limited Unaudited accounts Contents
Page
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Banyan Jewellery Limited Company Information for the year ended 31 March 2022
Director
Y Zalman
Company Number
07495047 (England and Wales)
Registered Office
Units 3 & 4 Riviera House 26 Salisbury Road Newton Abbot Devon TQ12 2DF England
Accountants
Yannons Chartered Accountants The Gallery New Quay Street Teignmouth Devon TQ14 8DA
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Banyan Jewellery Limited Statement of financial position as at 31 March 2022
2022 
2021 
Notes
£ 
£ 
Fixed assets
Tangible assets
15,581 
17,557 
Current assets
Inventories
48,429 
68,809 
Debtors
19,796 
9,114 
Cash at bank and in hand
157,935 
122,770 
226,160 
200,693 
Creditors: amounts falling due within one year
(45,040)
(30,321)
Net current assets
181,120 
170,372 
Total assets less current liabilities
196,701 
187,929 
Creditors: amounts falling due after more than one year
- 
(42,110)
Net assets
196,701 
145,819 
Capital and reserves
Called up share capital
50 
50 
Capital redemption reserve
50 
50 
Profit and loss account
196,601 
145,719 
Shareholders' funds
196,701 
145,819 
For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts 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 FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 6 September 2022 and were signed on its behalf by
Y Zalman Director Company Registration No. 07495047
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Banyan Jewellery Limited Notes to the Accounts for the year ended 31 March 2022
1
Statutory information
Banyan Jewellery Limited is a private company, limited by shares, registered in England and Wales, registration number 07495047. The registered office is Units 3 & 4 Riviera House, 26 Salisbury Road, Newton Abbot, Devon, TQ12 2DF, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
10% Straight Line
Plant & machinery
15% Reducing balance
Intangible fixed assets
Intangible fixed assets are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and net realisable value.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full, where material, on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Capital redemption reserve
The capital redemption reserve relates to a company share buyback in the year ended 31 March 2019.
Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year, exclusive of Value Added Tax.
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Banyan Jewellery Limited Notes to the Accounts for the year ended 31 March 2022
Pension costs
The company makes contributions to employee pension schemes. Contributions payable are recognised in the profit and loss account when they become due in accordance with contractual arrangements.
Research and development
Expenditure on research and development is charged to the profit and loss in the year in which it is incurred.
4
Intangible fixed assets
Goodwill 
£ 
Cost
At 1 April 2021
15,000 
At 31 March 2022
15,000 
Amortisation
At 1 April 2021
15,000 
At 31 March 2022
15,000 
Net book value
At 31 March 2022
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 April 2021
9,265 
40,148 
49,413 
Additions
- 
1,209 
1,209 
At 31 March 2022
9,265 
41,357 
50,622 
Depreciation
At 1 April 2021
5,559 
26,297 
31,856 
Charge for the year
926 
2,259 
3,185 
At 31 March 2022
6,485 
28,556 
35,041 
Net book value
At 31 March 2022
2,780 
12,801 
15,581 
At 31 March 2021
3,706 
13,851 
17,557 
6
Debtors: amounts falling due within one year
2022 
2021 
£ 
£ 
Trade debtors
16,672 
5,620 
Accrued income and prepayments
2,546 
2,953 
Other debtors
578 
541 
19,796 
9,114 
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Banyan Jewellery Limited Notes to the Accounts for the year ended 31 March 2022
7
Creditors: amounts falling due within one year
2022 
2021 
£ 
£ 
Bank loans and overdrafts
- 
7,890 
Trade creditors
1,184 
2,890 
Taxes and social security
27,013 
18,987 
Other creditors
269 
342 
Loans from directors
- 
31 
Accruals
16,574 
181 
45,040 
30,321 
8
Creditors: amounts falling due after more than one year
2022 
2021 
£ 
£ 
Bank loans
- 
42,110 
Aggregate of amounts that fall due for payment after five years
- 
1,770 
A Bounce Back Loan of £50,000 was received in May 2020, The Government guaranteed 100% of the loan and there were no fees or interest payable for the first 12 months. After 12 months interest was chargeable at 2.5%. The loan was repaid in full during the year.
9
Share capital
2022 
2021 
£ 
£ 
Allotted, called up and fully paid:
50 Ordinary shares of £1 each
50 
50 
10
Operating lease commitments
2022 
2021 
£ 
£ 
At 31 March 2022 the company has total minimum future payment commitments under non-cancellable operating leases as follows:
Operating leases expiring:
Within one year
- 
3,250 
11
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Y Zalman
Directors loan
- 
33 
- 
33 
- 
33 
- 
33 
12
Average number of employees
During the year the average number of employees was 3 (2021: 4).
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