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REGISTERED NUMBER: 05531556 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

THE SILVER SHOP OF BATH LTD

THE SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)






Contents of the Financial Statements
for the year ended 31 January 2023




Page

Company Information 1

Chartered Accountants' Report 2

Balance Sheet 3

Notes to the Financial Statements 5


THE SILVER SHOP OF BATH LTD

Company Information
for the year ended 31 January 2023







DIRECTORS: G P Douglas
H R Douglas





SECRETARY: D A Swift





REGISTERED OFFICE: 25 Union Passage
Bath
BA1 1RD





REGISTERED NUMBER: 05531556 (England and Wales)





ACCOUNTANTS: Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
The Silver Shop of Bath Ltd

The following reproduces the text of the report prepared for the directors 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 Directors 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 The Silver Shop of Bath Ltd for the year ended 31 January 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity 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 Board of Directors of The Silver Shop of Bath Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of The Silver Shop of Bath Ltd and state those matters that we have agreed to state to the Board of Directors of The Silver Shop of Bath Ltd, as a body, 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 The Silver Shop of Bath Ltd and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that The Silver Shop of Bath Ltd 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 profit of The Silver Shop of Bath Ltd. You consider that The Silver Shop of Bath Ltd 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 The Silver Shop of Bath Ltd. 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.






Richardson Swift
Chartered Accountants
11 Laura Place
Bath
BA2 4BL


16 October 2023

THE SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)

Balance Sheet
31 January 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 29,062 40,312
Tangible assets 5 13,511 14,777
42,573 55,089

CURRENT ASSETS
Stocks 136,719 151,182
Debtors 6 35,316 47,927
Cash at bank and in hand 201,853 157,365
373,888 356,474
CREDITORS
Amounts falling due within one year 7 97,193 76,480
NET CURRENT ASSETS 276,695 279,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

319,268

335,083

PROVISIONS FOR LIABILITIES 9 2,567 2,808
NET ASSETS 316,701 332,275

CAPITAL AND RESERVES
Called up share capital 10 127 127
Share premium 598 598
Capital redemption reserve 50 50
Retained earnings 315,926 331,500
SHAREHOLDERS' FUNDS 316,701 332,275

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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 SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)

Balance Sheet - continued
31 January 2023


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 13 October 2023 and were signed on its behalf by:





G P Douglas - Director


THE SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)

Notes to the Financial Statements
for the year ended 31 January 2023

1. STATUTORY INFORMATION

The Silver Shop of Bath Ltd 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 represents net retail sales of goods, excluding value added tax. Turnover is recognised when the goods are sold.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of the business in 2005, is being amortised evenly over its useful life.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Office equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

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.

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.

THE SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, loans from banks and other third parties.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the income statement.

For financial assets measured at amortised cost, the impairment loss is measured as the difference between an assets carrying amount and the present value of estimated cash flows discounted at the assets original effective interest rate determined under the contract.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets carrying amount and the best estimate, which is an approximation, of the amount the company would receive for the asset if it were to be sold at the reporting date.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Government grants
Government grants are accounted for under the accruals method, with those in relation to expenditure credited when the expenditure is charged to the profit and loss

CRITICAL ACCOUNTING ESTIMATES AND JUDGEMENTS
The directors have assessed the remaining economic value of the goodwill and are satisfied that it is appropriate. No other significant judgements or key assumptions have had to be made by the directors in preparing these financial statements.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 15 (2022 - 15 ) .

THE SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 225,000
AMORTISATION
At 1 February 2022 184,688
Amortisation for year 11,250
At 31 January 2023 195,938
NET BOOK VALUE
At 31 January 2023 29,062
At 31 January 2022 40,312

5. TANGIBLE FIXED ASSETS
Fixtures
Office and
equipment fittings Totals
£    £    £   
COST
At 1 February 2022 10,822 19,012 29,834
Additions 1,000 - 1,000
At 31 January 2023 11,822 19,012 30,834
DEPRECIATION
At 1 February 2022 3,487 11,570 15,057
Charge for year 1,150 1,116 2,266
At 31 January 2023 4,637 12,686 17,323
NET BOOK VALUE
At 31 January 2023 7,185 6,326 13,511
At 31 January 2022 7,335 7,442 14,777

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 3,556 1,914
Other debtors 31,760 46,013
35,316 47,927

THE SILVER SHOP OF BATH LTD (REGISTERED NUMBER: 05531556)

Notes to the Financial Statements - continued
for the year ended 31 January 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 11,014 1,637
Taxation and social security 58,950 47,763
Other creditors 27,229 27,080
97,193 76,480

8. LEASING AGREEMENTS

At 31 January 2023, the company has future minimum lease payments under non-cancellable operating leases totalling £61,500 (2021: £101,000).

9. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 2,567 2,808

Deferred
tax
£   
Balance at 1 February 2022 2,808
Accelerated capital allowances (241 )
Balance at 31 January 2023 2,567

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
25 Ordinary A £1 25 25
100 Ordinary B £1 100 100
2 Ordinary C £1 2 2
127 127

A and B ordinary shares rank pari passu in respect of voting rights, dividends and distribution on the winding up of the company. C Share rank parri passu in respect of voting and distribution rights only.

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the Directors owed the company £18,299 (2022: £33,776). £44,523 (£133,697)
was advanced and £60,000 (£62,979) repaid.