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REGISTERED NUMBER: 04116699 (England and Wales)











Unaudited Financial Statements

for the Year Ended 31 March 2023

for

Libra (UK) Jewellery Limited

Libra (UK) Jewellery Limited (Registered number: 04116699)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Libra (UK) Jewellery Limited

Company Information
for the Year Ended 31 March 2023







DIRECTOR: P R Davies





REGISTERED OFFICE: Leofric House
Binley Road
Coventry
West Midlands
CV3 1JN





REGISTERED NUMBER: 04116699 (England and Wales)





ACCOUNTANTS: Leigh Christou Ltd
Chartered Certified Accountants
Leofric House
Binley Road
Coventry
CV3 1JN

Libra (UK) Jewellery Limited (Registered number: 04116699)

Statement of Financial Position
31 March 2023

31.3.23 31.3.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 9,905 13,092
9,905 13,092

CURRENT ASSETS
Stocks 17,000 5,000
Debtors 6 58,925 59,767
Cash at bank and in hand 492,710 412,166
568,635 476,933
CREDITORS
Amounts falling due within one year 7 70,725 64,404
NET CURRENT ASSETS 497,910 412,529
TOTAL ASSETS LESS CURRENT
LIABILITIES

507,815

425,621

PROVISIONS FOR LIABILITIES 2,476 2,487
NET ASSETS 505,339 423,134

CAPITAL AND RESERVES
Called up share capital 65 65
Capital redemption reserve 35 35
Retained earnings 505,239 423,034
SHAREHOLDERS' FUNDS 505,339 423,134

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 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.

Libra (UK) Jewellery Limited (Registered number: 04116699)

Statement of Financial Position - continued
31 March 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 August 2023 and were signed by:





P R Davies - Director


Libra (UK) Jewellery Limited (Registered number: 04116699)

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

1. STATUTORY INFORMATION

Libra (UK) Jewellery 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 2001, 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.

Patents and licences are being amortised evenly over their estimated useful life of nil years.

Patents and licences
Patents and licences represents the cost paid to solicitors in connection with the protection of the company's brand name and is being amortised evenly over 5 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 15% on reducing balance
Plant and machinery - 25% on cost
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - Straight line over 3 years

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 Statement of Income and Retained Earnings, 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 statement of financial position date.


Libra (UK) Jewellery Limited (Registered number: 04116699)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 38,002 8,652 46,654
AMORTISATION
At 1 April 2022
and 31 March 2023 38,002 8,652 46,654
NET BOOK VALUE
At 31 March 2023 - - -
At 31 March 2022 - - -

Libra (UK) Jewellery Limited (Registered number: 04116699)

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

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 April 2022 14,385 95,787 6,074
Additions - 112 -
At 31 March 2023 14,385 95,899 6,074
DEPRECIATION
At 1 April 2022 13,470 95,787 4,510
Charge for year 137 7 235
At 31 March 2023 13,607 95,794 4,745
NET BOOK VALUE
At 31 March 2023 778 105 1,329
At 31 March 2022 915 - 1,564

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 April 2022 68,239 23,818 208,303
Additions - - 112
At 31 March 2023 68,239 23,818 208,415
DEPRECIATION
At 1 April 2022 58,147 23,297 195,211
Charge for year 2,523 397 3,299
At 31 March 2023 60,670 23,694 198,510
NET BOOK VALUE
At 31 March 2023 7,569 124 9,905
At 31 March 2022 10,092 521 13,092

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Trade debtors 54,060 57,977
Other debtors 4,865 1,790
58,925 59,767

Libra (UK) Jewellery Limited (Registered number: 04116699)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.23 31.3.22
£    £   
Taxation and social security 46,054 39,473
Other creditors 24,671 24,931
70,725 64,404

8. RELATED PARTY DISCLOSURES

The company occupies a warehouse unit which is owned by the director of the company. Rent was paid in respect of these premises on normal commercial terms amounting to £18,000 in the year (2022 - £18,100). A second unit occupied by the company is owned by the Company pension scheme of which the Director is a beneficiary . Rent was paid on normal commercial terms in respect of this unit amounting to £12,000 (2022 - £12,000).

9. ULTIMATE CONTROLLING PARTY

The company was controlled throughout the current and previous period by Mr P R Davies by virtue of his majority shareholding.