Company registration number 04480020 (England and Wales)
MARTIN WILDE JEWELLERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
PAGES FOR FILING WITH REGISTRAR
MARTIN WILDE JEWELLERS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
MARTIN WILDE JEWELLERS LIMITED (REGISTERED NUMBER: 04480020)
BALANCE SHEET
AS AT 31 JULY 2023
31 July 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
10,562
14,495
Current assets
Stocks
6,232
6,805
Debtors
5
1,203
1,203
Cash at bank and in hand
49,682
56,994
57,117
65,002
Creditors: amounts falling due within one year
6
(47,224)
(44,810)
Net current assets
9,893
20,192
Total assets less current liabilities
20,455
34,687
Creditors: amounts falling due after more than one year
7
-
0
(8,633)
Provisions for liabilities
(2,391)
(369)
Net assets
18,064
25,685
Capital and reserves
Called up share capital
8
3
3
Profit and loss reserves
18,061
25,682
Total equity
18,064
25,685

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

MARTIN WILDE JEWELLERS LIMITED (REGISTERED NUMBER: 04480020)
BALANCE SHEET (CONTINUED)
AS AT 31 JULY 2023
31 July 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 12 December 2023 and are signed on its behalf by:
M Wilde
Director
MARTIN WILDE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023
- 3 -
1
Accounting policies
Company information

Martin Wilde Jewellers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 7 Mill Yard, Swan Street, West Malling, Kent, ME19 6LP.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
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.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short Leasehold
Straight line over 15 years
Fixtures, fittings & equipment
25% on reducing balance
1.5
Stocks

Stocks 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 stocks to their present location and condition.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

 

 

 

 

MARTIN WILDE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
1
Accounting policies
(Continued)
- 4 -
1.7
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
3
3
3
Intangible fixed assets
Goodwill
£
Cost
At 1 August 2022 and 31 July 2023
15,000
Amortisation and impairment
At 1 August 2022 and 31 July 2023
15,000
Carrying amount
At 31 July 2023
-
0
At 31 July 2022
-
0
MARTIN WILDE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 5 -
4
Tangible fixed assets
Short Leasehold
Fixtures, fittings & equipment
Total
£
£
£
Cost
At 1 August 2022 and 31 July 2023
6,235
32,381
38,616
Depreciation and impairment
At 1 August 2022
5,823
18,298
24,121
Depreciation charged in the year
412
3,521
3,933
At 31 July 2023
6,235
21,819
28,054
Carrying amount
At 31 July 2023
-
0
10,562
10,562
At 31 July 2022
412
14,083
14,495
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Other debtors
1,203
1,203
6
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
1,458
-
0
Trade creditors
15,352
10,378
Taxation and social security
26,248
30,245
Other creditors
4,166
4,187
47,224
44,810
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
-
0
8,633
MARTIN WILDE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JULY 2023
- 6 -
8
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
1
1
1
1
Ordinary A of £1 each
1
1
1
1
Ordinary B of £1 each
1
1
1
1
3
3
3
3
9
Financial commitments, guarantees and contingent liabilities

During the 2021 accounting period, the company borrowed £20,000 from its bankers for a Bounce Back Loan. As part of this loan scheme, the UK government guaranteed the advance and paid the interest and fees due for the first 12 months.

The company gives the bank a fixed and floating charge over its assets and undertaking owned now and in the future.

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