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REGISTERED NUMBER: 01371668 (England and Wales)















Financial Statements for the Year Ended 31 May 2023

for

Queensbury Jewellers Limited

Queensbury Jewellers Limited (Registered number: 01371668)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 7

Queensbury Jewellers Limited

Company Information
for the Year Ended 31 May 2023







DIRECTORS: J Birtles
P Birtles
Mrs H J Birtles





SECRETARY: Mrs H J Birtles





REGISTERED OFFICE: 100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE





REGISTERED NUMBER: 01371668 (England and Wales)





ACCOUNTANTS: Leon & Company
Chartered Accountants
100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE

Queensbury Jewellers Limited (Registered number: 01371668)

Balance Sheet
31 May 2023

31.5.23 31.5.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 32,997 37,840
Investments 6 15,588 15,588
48,585 53,428

CURRENT ASSETS
Stocks 582,000 506,500
Debtors 7 15,516 9,027
Cash at bank and in hand 353,276 458,197
950,792 973,724
CREDITORS
Amounts falling due within one year 8 121,340 115,513
NET CURRENT ASSETS 829,452 858,211
TOTAL ASSETS LESS CURRENT
LIABILITIES

878,037

911,639

PROVISIONS FOR LIABILITIES 2,252 2,252
NET ASSETS 875,785 909,387

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 875,685 909,287
SHAREHOLDERS' FUNDS 875,785 909,387

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

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

The directors acknowledge their 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.

Queensbury Jewellers Limited (Registered number: 01371668)

Balance Sheet - continued
31 May 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 Board of Directors and authorised for issue on 5 February 2024 and were signed on its behalf by:





J Birtles - Director


Queensbury Jewellers Limited (Registered number: 01371668)

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

1. STATUTORY INFORMATION

Queensbury Jewellers 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.

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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 10% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

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 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.

Queensbury Jewellers Limited (Registered number: 01371668)

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

2. ACCOUNTING POLICIES - continued

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 18 (2022 - 19 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 June 2022
and 31 May 2023 18,916
AMORTISATION
At 1 June 2022
and 31 May 2023 18,916
NET BOOK VALUE
At 31 May 2023 -
At 31 May 2022 -

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 June 2022 128,585
Additions 4,336
Disposals (12,675 )
At 31 May 2023 120,246
DEPRECIATION
At 1 June 2022 90,745
Charge for year 3,832
Eliminated on disposal (7,328 )
At 31 May 2023 87,249
NET BOOK VALUE
At 31 May 2023 32,997
At 31 May 2022 37,840

Queensbury Jewellers Limited (Registered number: 01371668)

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

6. FIXED ASSET INVESTMENTS
Other
investments
£   
COST
At 1 June 2022
and 31 May 2023 15,588
NET BOOK VALUE
At 31 May 2023 15,588
At 31 May 2022 15,588

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Other debtors 15,516 9,027

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.23 31.5.22
£    £   
Bank loans and overdrafts - 2
Trade creditors 45,603 39,122
Taxation and social security 56,231 56,101
Other creditors 19,506 20,288
121,340 115,513

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.23 31.5.22
value: £    £   
34 A ordinary £1 34 34
33 B ordinary £1 33 33
33 C ordinary £1 33 33
100 100

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

Included in creditors is an amount of £39 (2022 £56) due to the directors. These loans are interest free and repayable on demand.

11. RELATED PARTY DISCLOSURES

The company operates from a premises owned by the director Mr J Birtles for which an annual rent is charged at a rate of £13000.p.a.

12. ULTIMATE CONTROLLING PARTY

The controlling party is J Birtles.

The ultimate controlling party is J Birtles.

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Queensbury Jewellers Limited

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Queensbury Jewellers Limited for the year ended 31 May 2023 which comprise the Statement of Income and Retained Earnings, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Queensbury Jewellers Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Queensbury Jewellers Limited and state those matters that we have agreed to state to the Board of Directors of Queensbury Jewellers Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Queensbury Jewellers Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Queensbury Jewellers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Queensbury Jewellers Limited. You consider that Queensbury Jewellers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Queensbury Jewellers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Leon & Company
Chartered Accountants
100 High Ash Drive
Alwoodley
Leeds
West Yorkshire
LS17 8RE


Date: .............................................