Anna James Limited 01432653 false 2022-03-01 2023-02-28 2023-02-28 The principal activity of the company is manufacture and sale of jewellery Digita Accounts Production Advanced 6.30.9574.0 true true 01432653 2022-03-01 2023-02-28 01432653 2023-02-28 01432653 core:CurrentFinancialInstruments 2023-02-28 01432653 core:CurrentFinancialInstruments core:WithinOneYear 2023-02-28 01432653 core:Non-currentFinancialInstruments 2023-02-28 01432653 core:Non-currentFinancialInstruments core:AfterOneYear 2023-02-28 01432653 core:FurnitureFittingsToolsEquipment 2023-02-28 01432653 core:LandBuildings 2023-02-28 01432653 core:MotorVehicles 2023-02-28 01432653 bus:SmallEntities 2022-03-01 2023-02-28 01432653 bus:AuditExemptWithAccountantsReport 2022-03-01 2023-02-28 01432653 bus:FullAccounts 2022-03-01 2023-02-28 01432653 bus:SmallCompaniesRegimeForAccounts 2022-03-01 2023-02-28 01432653 bus:RegisteredOffice 2022-03-01 2023-02-28 01432653 bus:Director1 2022-03-01 2023-02-28 01432653 bus:Director2 2022-03-01 2023-02-28 01432653 bus:Director3 2022-03-01 2023-02-28 01432653 bus:PrivateLimitedCompanyLtd 2022-03-01 2023-02-28 01432653 core:FurnitureFittings 2022-03-01 2023-02-28 01432653 core:FurnitureFittingsToolsEquipment 2022-03-01 2023-02-28 01432653 core:LandBuildings 2022-03-01 2023-02-28 01432653 core:LeaseholdImprovements 2022-03-01 2023-02-28 01432653 core:MotorVehicles 2022-03-01 2023-02-28 01432653 countries:England 2022-03-01 2023-02-28 01432653 2022-02-28 01432653 core:FurnitureFittingsToolsEquipment 2022-02-28 01432653 core:LandBuildings 2022-02-28 01432653 core:MotorVehicles 2022-02-28 01432653 2021-03-01 2022-02-28 01432653 2022-02-28 01432653 core:CurrentFinancialInstruments 2022-02-28 01432653 core:CurrentFinancialInstruments core:WithinOneYear 2022-02-28 01432653 core:Non-currentFinancialInstruments 2022-02-28 01432653 core:Non-currentFinancialInstruments core:AfterOneYear 2022-02-28 01432653 core:FurnitureFittingsToolsEquipment 2022-02-28 01432653 core:LandBuildings 2022-02-28 01432653 core:MotorVehicles 2022-02-28 iso4217:GBP xbrli:pure

Registration number: 01432653

Anna James Limited

Unaudited Filleted Financial Statements

for the Year Ended 28 February 2023

 

Anna James Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 8

 

Anna James Limited

Company Information

Directors

Mr J Watson

Mrs E Watson

Mr P Watson

Registered office

88-90 Hatton Garden Room 38
4TH Floor
London
EC1N 8PN

Accountants

Sterling Grove Accountants Limited
Chartered Certified Accountants
Fawley House
2 Marlow Road
Bourne End
Bucks
SL8 5TD

 

Anna James Limited

(Registration number: 01432653)
Balance Sheet as at 28 February 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

32,269

5,048

Current assets

 

Stocks

5

197,880

205,800

Debtors

6

176,769

125,745

Cash at bank and in hand

 

65,928

84,173

 

440,577

415,718

Creditors: Amounts falling due within one year

7

(287,455)

(204,343)

Net current assets

 

153,122

211,375

Total assets less current liabilities

 

185,391

216,423

Creditors: Amounts falling due after more than one year

7

(44,207)

(40,167)

Net assets

 

141,184

176,256

Capital and reserves

 

Called up share capital

100

100

Retained earnings

141,084

176,156

Shareholders' funds

 

141,184

176,256

For the financial year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 19 October 2023 and signed on its behalf by:
 

.........................................
Mr J Watson
Director

 

Anna James Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
88-90 Hatton Garden Room 38
4TH Floor
London
EC1N 8PN
United Kingdom

These financial statements were authorised for issue by the Board on 19 October 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Government grants

Government grants are recognised under the accrual model of grant recognition. This model requires the grant to be classified as either a revenue-based grant or a capital-based grant.

Government grants are recognised in profit or loss on a systematic basis over the periods in which the entity recognises expenses for the related costs for which the grants are intended to compensate.

Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset.

 

Anna James Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Motor Vehicles

25% reducing balance basis

Fixtures and fittings

25% reducing balance basis

Leasehold improvements

Over 3 years

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Anna James Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Anna James Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 5 (2022 - 5).

4

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 March 2022

6,238

22,687

26,000

54,925

Additions

-

258

37,719

37,977

Disposals

-

-

(26,000)

(26,000)

At 28 February 2023

6,238

22,945

37,719

66,902

Depreciation

At 1 March 2022

6,238

17,639

26,000

49,877

Charge for the year

-

1,326

9,430

10,756

Eliminated on disposal

-

-

(26,000)

(26,000)

At 28 February 2023

6,238

18,965

9,430

34,633

Carrying amount

At 28 February 2023

-

3,980

28,289

32,269

At 28 February 2022

-

5,048

-

5,048

Included within the net book value of land and buildings above is £Nil (2022 - £Nil) in respect of short leasehold land and buildings.
 

5

Stocks

2023
£

2022
£

Other inventories

197,880

205,800

 

Anna James Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

6

Debtors

Current

2023
£

2022
£

Trade debtors

170,656

121,108

Prepayments

3,992

3,741

Other debtors

2,121

896

 

176,769

125,745

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Bank loans and overdrafts

8

14,824

5,663

Trade creditors

 

252,312

163,515

Amounts owed to related parties

5,999

115

Taxation and social security

 

8,326

30,205

Accruals and deferred income

 

3,350

3,000

Other creditors

 

2,644

1,845

 

287,455

204,343

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings

8

44,207

40,167

 

Anna James Limited

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2023

8

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Bank borrowings

34,471

40,167

Other borrowings

9,736

-

44,207

40,167

2023
£

2022
£

Current loans and borrowings

Bank borrowings

5,803

5,663

Other borrowings

9,021

-

14,824

5,663

9

Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £7,500 (2022 - £17,500).