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REGISTERED NUMBER: 12778520 (England and Wales)















Unaudited Financial Statements for the Year Ended 31st July 2023

for

BLING JEWELLERS LTD

BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)






Contents of the Financial Statements
FOR THE YEAR ENDED 31ST JULY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


BLING JEWELLERS LTD

Company Information
FOR THE YEAR ENDED 31ST JULY 2023







DIRECTOR: S K Isakhil





REGISTERED OFFICE: Shop A Ground Floor,
63/66 Hatton Garden
London
EC1N 8LE





REGISTERED NUMBER: 12778520 (England and Wales)





ACCOUNTANTS: Silver Arc
Chartered Certified Accountants
1 Quality Court
Chancery Lane
London
WC2A 1HR

BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)

Balance Sheet
31ST JULY 2023

31/7/23 31/7/22
Notes £    £   
FIXED ASSETS
Intangible assets 4 11,983 15,977
Tangible assets 5 101,940 68,801
113,923 84,778

CURRENT ASSETS
Stocks 215,794 165,732
Debtors 6 17,144 73,067
Cash at bank and in hand 22,236 136,294
255,174 375,093
CREDITORS
Amounts falling due within one year 7 (264,792 ) (361,167 )
NET CURRENT (LIABILITIES)/ASSETS (9,618 ) 13,926
TOTAL ASSETS LESS CURRENT
LIABILITIES

104,305

98,704

CREDITORS
Amounts falling due after more than one year 8 - (12,950 )
NET ASSETS 104,305 85,754

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 104,304 85,753
SHAREHOLDERS' FUNDS 104,305 85,754

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

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

The director acknowledges his 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.

BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)

Balance Sheet - continued
31ST JULY 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 10th November 2023 and were signed by:





S K Isakhil - Director


BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)

Notes to the Financial Statements
FOR THE YEAR ENDED 31ST JULY 2023

1. STATUTORY INFORMATION

Bling Jewellers 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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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.

Computer software is being amortised evenly over its estimated useful life of nil years.

Tangible fixed assets
Tangible fixed assets are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using either a straight line or reducing balance method, as indicated below.

Depreciation is provided on the following basis:

Fixtures and fittings - 10% Straight line
Computer and equipment - 15% Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

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

BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST JULY 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

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 profit or loss.

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.

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.

Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.

Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST JULY 2023

2. ACCOUNTING POLICIES - continued

Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
COST
At 1st August 2022
and 31st July 2023 19,971
AMORTISATION
At 1st August 2022 3,994
Charge for year 3,994
At 31st July 2023 7,988
NET BOOK VALUE
At 31st July 2023 11,983
At 31st July 2022 15,977

BLING JEWELLERS LTD (REGISTERED NUMBER: 12778520)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31ST JULY 2023

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1st August 2022 87,033
Additions 47,152
At 31st July 2023 134,185
DEPRECIATION
At 1st August 2022 18,232
Charge for year 14,013
At 31st July 2023 32,245
NET BOOK VALUE
At 31st July 2023 101,940
At 31st July 2022 68,801

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade debtors - 57,820
Amounts owed by group undertakings 5,000 5,000
Other debtors 12,144 10,247
17,144 73,067

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/7/23 31/7/22
£    £   
Trade creditors 560 38,329
Amounts owed to group undertakings - 3,000
Taxation and social security 56,348 45,350
Other creditors 207,884 274,488
264,792 361,167

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/7/23 31/7/22
£    £   
Other creditors - 12,950