1 April 2022 v2023.27.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP075481972022-04-012023-03-31075481972023-03-31075481972022-03-3107548197core:WithinOneYear2023-03-3107548197core:WithinOneYear2022-03-3107548197core:AfterOneYear2023-03-3107548197core:AfterOneYear2022-03-3107548197core:ShareCapital2023-03-3107548197core:ShareCapital2022-03-3107548197core:RetainedEarningsAccumulatedLosses2023-03-3107548197core:RetainedEarningsAccumulatedLosses2022-03-3107548197bus:Director12022-04-012023-03-3107548197bus:RegisteredOffice2022-04-012023-03-3107548197core:OfficeEquipment2022-04-012023-03-3107548197core:FurnitureFittings2022-04-012023-03-31075481972021-04-012022-03-3107548197core:PlantMachinery2022-04-0107548197core:PlantMachinery2022-04-012023-03-3107548197core:PlantMachinery2023-03-3107548197core:PlantMachinery2022-03-310754819712022-04-012023-03-3107548197countries:EnglandWales2022-04-012023-03-3107548197bus:AuditExemptWithAccountantsReport2022-04-012023-03-3107548197bus:PrivateLimitedCompanyLtd2022-04-012023-03-3107548197bus:SmallEntities2022-04-012023-03-3107548197bus:FullAccounts2022-04-012023-03-31
Company registration number:
07548197
Robert's Independent Jewellers Limited
Unaudited Filleted Financial Statements for the year ended
31 March 2023
Robert's Independent Jewellers Limited
Statement of Financial Position
31 March 2023
20232022
Note££
Fixed assets    
Tangible assets 5
408
 
1,036
 
Current assets    
Stocks
205,800
 
127,000
 
Debtors 6
143,572
 
153,177
 
Cash at bank and in hand
144,975
 
223,883
 
494,347
 
504,060
 
Creditors: amounts falling due within one year 7
(89,272
)
(90,574
)
Net current assets
405,075
 
413,486
 
Total assets less current liabilities 405,483   414,522  
Creditors: amounts falling due after more than one year 8
(21,667
)
(31,667
)
Net assets
383,816
 
382,855
 
Capital and reserves    
Called up share capital
1,400
 
1,400
 
Profit and loss account
382,416
 
381,455
 
Shareholders funds
383,816
 
382,855
 
For the 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.
Director's responsibilities:
  • The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
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.
These
financial statements
were approved by the board of directors and authorised for issue on
22 November 2023
, and are signed on behalf of the board by:
Mr R Wilson
Director
Company registration number:
07548197
Robert's Independent Jewellers Limited
Notes to the Financial Statements
Year ended
31 March 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
18-20 High Street
,
Ringwood
,
Hampshire
,
BH24 1AF
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Current tax

Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Office equipment
33% straight line
Fixtures and fittings
20% straight line

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.

Government grants

Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the entity will comply with the conditions attaching to them and the grants will be received.
Government grants are recognised using the accrual model and the performance model.
Under the accrual model, government grants relating to revenue are recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. Grants that are receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs are recognised in income in the period in which it becomes receivable.
Grants relating to assets are recognised in income on a systematic basis over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income and not deducted from the carrying amount of the asset.
Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.

4 Average number of employees

The average number of persons employed by the company during the year was
1
(2022:
1.00
).

5 Tangible assets

Plant and machinery etc.
£
Cost  
At
1 April 2022
20,741
 
Additions
612
 
At
31 March 2023
21,353
 
Depreciation  
At
1 April 2022
19,705
 
Charge
1,240
 
At
31 March 2023
20,945
 
Carrying amount  
At
31 March 2023
408
 
At 31 March 2022
1,036
 

6 Debtors

20232022
££
Trade debtors -  
7,242
 
Amounts owed by group undertakings and undertakings in which the company has a participating interest
142,844
 
140,869
 
Other debtors
728
 
5,066
 
143,572
 
153,177
 

7 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
10,000
 
10,000
 
Trade creditors
5,961
 
17,594
 
Taxation and social security
33,934
 
57,712
 
Other creditors
39,377
 
5,268
 
89,272
 
90,574
 

8 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
21,667
 
31,667