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REGISTERED NUMBER: 04610549 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2023

for

Smith of Keynsham Jewellers Limited

Smith of Keynsham Jewellers Limited (Registered number: 04610549)






Contents of the Financial Statements
for the Year Ended 31 January 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smith of Keynsham Jewellers Limited

Company Information
for the Year Ended 31 January 2023







DIRECTOR: Mrs Jill Elizabeth Ridler





SECRETARY: Mrs Jill Elizabeth Ridler





REGISTERED OFFICE: 5 High Street
Keynsham
Bristol
Somerset
BS31 1DP





REGISTERED NUMBER: 04610549 (England and Wales)





ACCOUNTANTS: Tankard & Company
1 Three Winds
Downside
Shepton Mallet
Somerset
BA4 4FH

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Balance Sheet
31 January 2023

31.1.23 31.1.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 3,798
Tangible assets 5 733 863
734 4,661

CURRENT ASSETS
Stocks 6 73,748 62,377
Debtors 7 - 784
Cash at bank and in hand 18,105 15,952
91,853 79,113
CREDITORS
Amounts falling due within one year 8 38,835 45,473
NET CURRENT ASSETS 53,018 33,640
TOTAL ASSETS LESS CURRENT
LIABILITIES

53,752

38,301

CREDITORS
Amounts falling due after more than one
year

9

41,654

27,233
NET ASSETS 12,098 11,068

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 12,096 11,066
SHAREHOLDERS' FUNDS 12,098 11,068

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 director acknowledges her 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.

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

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 director and authorised for issue on 17 October 2023 and were signed by:





Mrs Jill Elizabeth Ridler - Director


Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Notes to the Financial Statements
for the Year Ended 31 January 2023

1. STATUTORY INFORMATION

Smith of Keynsham 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off 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.

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

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2022
and 31 January 2023 75,998
AMORTISATION
At 1 February 2022 72,200
Amortisation for year 3,797
At 31 January 2023 75,997
NET BOOK VALUE
At 31 January 2023 1
At 31 January 2022 3,798

5. TANGIBLE FIXED ASSETS
Fixtures
Office and
Equipment fittings Totals
£    £    £   
COST
At 1 February 2022
and 31 January 2023 7,361 6,218 13,579
DEPRECIATION
At 1 February 2022 6,876 5,840 12,716
Charge for year 73 57 130
At 31 January 2023 6,949 5,897 12,846
NET BOOK VALUE
At 31 January 2023 412 321 733
At 31 January 2022 485 378 863

6. STOCKS
31.1.23 31.1.22
£    £   
Stocks 73,748 62,377

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Other debtors - 784

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2023

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.23 31.1.22
£    £   
Bank loans and overdrafts 15,004 17,457
Trade creditors 8,933 10,499
Corporation Tax 5,310 4,720
Social security and other taxes 905 646
VAT 6,049 7,117
Directors' current accounts 384 2,884
Accrued expenses 2,250 2,150
38,835 45,473

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.23 31.1.22
£    £   
Bank loans - 2-5 years 41,654 27,233

10. SECURED DEBTS

The following secured debts are included within creditors:

31.1.23 31.1.22
£    £   
Bank loans 56,658 44,690

The Bank Loan is secured against the Director's personal residence.