Silverfin false 31/03/2023 01/04/2022 31/03/2023 Mr G P Burton 14/03/2017 Mr M G Rosenfeld 26/11/2014 01 November 2023 The principal activity of the Company during the financial year was wholesale of diamonds and jewellery 09328152 2023-03-31 09328152 bus:Director1 2023-03-31 09328152 bus:Director2 2023-03-31 09328152 2022-03-31 09328152 core:CurrentFinancialInstruments 2023-03-31 09328152 core:CurrentFinancialInstruments 2022-03-31 09328152 core:ShareCapital 2023-03-31 09328152 core:ShareCapital 2022-03-31 09328152 core:RetainedEarningsAccumulatedLosses 2023-03-31 09328152 core:RetainedEarningsAccumulatedLosses 2022-03-31 09328152 core:OtherPropertyPlantEquipment 2022-03-31 09328152 core:OtherPropertyPlantEquipment 2023-03-31 09328152 bus:OrdinaryShareClass1 2023-03-31 09328152 2022-04-01 2023-03-31 09328152 bus:FullAccounts 2022-04-01 2023-03-31 09328152 bus:SmallEntities 2022-04-01 2023-03-31 09328152 bus:AuditExemptWithAccountantsReport 2022-04-01 2023-03-31 09328152 bus:PrivateLimitedCompanyLtd 2022-04-01 2023-03-31 09328152 bus:Director1 2022-04-01 2023-03-31 09328152 bus:Director2 2022-04-01 2023-03-31 09328152 core:OtherPropertyPlantEquipment 2022-04-01 2023-03-31 09328152 2021-04-01 2022-03-31 09328152 bus:OrdinaryShareClass1 2022-04-01 2023-03-31 09328152 bus:OrdinaryShareClass1 2021-04-01 2022-03-31 iso4217:GBP xbrli:pure xbrli:shares

Company No: 09328152 (England and Wales)

J ROSENFELD & SONS LIMITED

Unaudited Financial Statements
For the financial year ended 31 March 2023
Pages for filing with the registrar

J ROSENFELD & SONS LIMITED

Unaudited Financial Statements

For the financial year ended 31 March 2023

Contents

J ROSENFELD & SONS LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 March 2023
J ROSENFELD & SONS LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 March 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 5,692 6,240
5,692 6,240
Current assets
Stocks 4 12,234,834 9,283,699
Debtors 5 4,109,401 4,425,746
Cash at bank and in hand 6 524,150 1,004,319
16,868,385 14,713,764
Creditors: amounts falling due within one year 7 ( 16,978,988) ( 14,979,822)
Net current liabilities (110,603) (266,058)
Total assets less current liabilities (104,911) (259,818)
Net liabilities ( 104,911) ( 259,818)
Capital and reserves
Called-up share capital 8 3 3
Profit and loss account ( 104,914 ) ( 259,821 )
Total shareholder's deficit ( 104,911) ( 259,818)

For the financial year ending 31 March 2023 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of J Rosenfeld & Sons Limited (registered number: 09328152) were approved and authorised for issue by the Director. They were signed on its behalf by:

Mr G P Burton
Director

01 November 2023

J ROSENFELD & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
J ROSENFELD & SONS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 March 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J Rosenfeld & Sons Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 Hatton Garden, London, EC1N 8AH, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Statement of Financial Position date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc. 20 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 5 5

3. Tangible assets

Plant and machinery etc. Total
£ £
Cost
At 01 April 2022 21,858 21,858
Additions 875 875
At 31 March 2023 22,733 22,733
Accumulated depreciation
At 01 April 2022 15,618 15,618
Charge for the financial year 1,423 1,423
At 31 March 2023 17,041 17,041
Net book value
At 31 March 2023 5,692 5,692
At 31 March 2022 6,240 6,240

4. Stocks

2023 2022
£ £
Stocks 12,234,834 9,283,699

Stock are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stock to their present location and condition.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stock over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

5. Debtors

2023 2022
£ £
Trade debtors 4,060,654 4,392,202
Other debtors 48,747 33,544
4,109,401 4,425,746

6. Cash and cash equivalents

2023 2022
£ £
Cash at bank and in hand 524,150 1,004,319

7. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,636,164 2,428,879
Amounts owed to Group undertakings 11,336,021 9,239,465
Other taxation and social security 97,235 316,843
Other creditors 2,909,568 2,994,635
16,978,988 14,979,822

8. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
3 Ordinary shares of £ 1.00 each 3 3