REGISTERED NUMBER: 04660042 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Truscott Jewellers Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

T J Andrews

L W Andrews

REGISTERED OFFICE:

1 College Court

Gloucester

GL1 2NJ

REGISTERED NUMBER:

04660042 (England and Wales)

ACCOUNTANTS:

LR Business Services Limited

Old Orchard

Crown East Lane

Lower Broadheath

Worcester

Worcestershire

WR2 6RH

FIXED ASSETS

Tangible assets

4

36,093

47,935

CURRENT ASSETS

Stocks

117,553

133,381

Debtors

5

173,262

129,072

Cash at bank

17,915

20,750

308,730

283,203

CREDITORS

Amounts falling due within one year

6

35,536

21,987

NET CURRENT ASSETS

273,194

261,216

TOTAL ASSETS LESS CURRENT LIABILITIES

309,287

309,151

CREDITORS

Amounts falling due after more than one year

7

(54,632

)

(70,298

)

PROVISIONS FOR LIABILITIES

(6,858

)

(9,108

)

NET ASSETS

247,797

229,745

CAPITAL AND RESERVES

Called up share capital

8

2

2

Retained earnings

247,795

229,743

SHAREHOLDERS' FUNDS

247,797

229,745

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 26 September 2023 and were signed on its behalf by:

T J Andrews - Director

L W Andrews - Director

1.	STATUTORY INFORMATION

Truscott Jewellers 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 Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Fixtures and fittings

-

20% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2022

29,443

49,119

1,612

80,174

Additions

1,690

-

-

1,690

At 31 March 2023

31,133

49,119

1,612

81,864

DEPRECIATION

At 1 April 2022

24,543

7,159

537

32,239

Charge for year

2,505

10,489

538

13,532

At 31 March 2023

27,048

17,648

1,075

45,771

NET BOOK VALUE

At 31 March 2023

4,085

31,471

537

36,093

At 31 March 2022

4,900

41,960

1,075

47,935

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 April 2022

and 31 March 2023

47,140

DEPRECIATION

At 1 April 2022

5,893

Charge for year

10,311

At 31 March 2023

16,204

NET BOOK VALUE

At 31 March 2023

30,936

At 31 March 2022

41,247

5.

DEBTORS

31.3.23

31.3.22

£

£

Amounts falling due within one year:

Trade debtors

4,080

1,860

Prepayments and accrued income

1,347

1,278

5,427

3,138

Amounts falling due after more than one year:

Amounts owed by group undertakings

167,835

125,934

Aggregate amounts

173,262

129,072

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans and overdrafts

10,000

10,496

Hire purchase contracts

5,960

5,960

Trade creditors

6,206

703

Tax

6,365

-

Social security and other taxes

724

1,181

VAT

5,100

2,541

Accrued expenses

1,181

1,106

35,536

21,987

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.23

31.3.22

£

£

Bank loans - 1-2 years

10,000

10,000

Bank loans - 2-5 years

12,392

22,098

Hire purchase contracts

32,240

38,200

54,632

70,298

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.23

31.3.22

value:

£

£

2

Ordinary

£1

2

2

9.	ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary undertaking of The Goldman Limited, registered in England. The Goldman Limited is controlled by Mr T J Andrews and Mr L W Andrews.