REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
FOR |
RAMESH JEWELLERS LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
FOR |
RAMESH JEWELLERS LIMITED |
RAMESH JEWELLERS LIMITED (REGISTERED NUMBER: 07375069) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
RAMESH JEWELLERS LIMITED |
COMPANY INFORMATION |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
DIRECTORS: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
Chartered Accountants |
7 St John's Road |
Harrow |
Middlesex |
HA1 2EY |
RAMESH JEWELLERS LIMITED (REGISTERED NUMBER: 07375069) |
BALANCE SHEET |
29 SEPTEMBER 2021 |
2021 | 2020 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks | 5 |
Debtors | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Retained earnings |
SHAREHOLDERS' FUNDS |
The directors acknowledge their 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. |
RAMESH JEWELLERS LIMITED (REGISTERED NUMBER: 07375069) |
BALANCE SHEET - continued |
29 SEPTEMBER 2021 |
In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
RAMESH JEWELLERS LIMITED (REGISTERED NUMBER: 07375069) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
1. | STATUTORY INFORMATION |
Ramesh Jewellers Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
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 |
Government grants |
Amounts received as a grant under the Small Business Grant Fund (SBGF) are recognised as income based on the accruals model. During the year the company has recognised £62,412 as income in the profit and loss account. |
The company has also recognised £760 as income in the profit and loss account which is business interruption payment received from bank towards the Bounce Back Loan. |
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
Financial instruments |
Financial assets and liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument. |
Loans and borrowings |
Loans and borrowings are measured initially at fair value, net of transactions costs and are measured subsequently at amortized cost using the effective interest method. |
Taxation |
Taxation for the period 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. |
RAMESH JEWELLERS LIMITED (REGISTERED NUMBER: 07375069) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
2. | ACCOUNTING POLICIES - continued |
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 period 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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | fittings |
property | & Equipments | Totals |
£ | £ | £ |
COST |
At 1 October 2020 |
and 29 September 2021 |
DEPRECIATION |
At 1 October 2020 |
Charge for period |
At 29 September 2021 |
NET BOOK VALUE |
At 29 September 2021 |
At 30 September 2020 |
5. | STOCKS |
2021 | 2020 |
£ | £ |
Finished goods |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Trade debtors |
Other debtors |
Prepayments |
RAMESH JEWELLERS LIMITED (REGISTERED NUMBER: 07375069) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE PERIOD 1 OCTOBER 2020 TO 29 SEPTEMBER 2021 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Corporation Tax payable |
Social security and other taxes |
VAT | 10,117 | 41,372 |
Director's current account | 391,395 | 382,206 |
Accrued expenses |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2021 | 2020 |
£ | £ |
Bank loans - 1-2 years |
Bank loans - 2-5 years |
Bank Loans due after more than |
5 years |
Amounts falling due in more than five years: |
Repayable by instalments |
Bank Loans due after more than |
5 years | 126,214 | 147,777 |
126,214 | 147,777 |
9. | RELATED PARTY DISCLOSURES |
Included within creditors is the sum of £391,395 (2020: £382,206) due to the directors of the company. |
There are no terms as to interest or repayment in respect of this balance. |