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REGISTERED NUMBER: 04950018 (England and Wales)









Financial Statements

for the Year Ended 31 March 2023

for

Keating Jewellers Limited

Keating Jewellers Limited (Registered number: 04950018)






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 3


Keating Jewellers Limited

Company Information
for the Year Ended 31 March 2023







DIRECTORS: Mr D Keating
Mrs E Keating





SECRETARY: Mrs E Keating





REGISTERED OFFICE: 28 Church Road
Stanmore
Middlesex
HA7 4XR





REGISTERED NUMBER: 04950018 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Keating Jewellers Limited (Registered number: 04950018)

Statement of Financial Position
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 17,115 17,432
17,115 17,432

CURRENT ASSETS
Inventories 6 18,000 15,000
Debtors 7 10,398 8,935
Cash at bank 156,149 145,074
184,547 169,009
CREDITORS
Amounts falling due within one year 8 54,117 57,715
NET CURRENT ASSETS 130,430 111,294
TOTAL ASSETS LESS CURRENT
LIABILITIES

147,545

128,726

CREDITORS
Amounts falling due after more than one
year

9

24,100

34,022
NET ASSETS 123,445 94,704

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 123,345 94,604
SHAREHOLDERS' FUNDS 123,445 94,704

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 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.

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 Board of Directors and authorised for issue on 10 January 2024 and were signed on its behalf by:




Mr D Keating - Director


Keating Jewellers Limited (Registered number: 04950018)

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

1. STATUTORY INFORMATION

Keating 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.

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
Revenue 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 2005, is being amortised evenly over its estimated useful life of five 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 15% on reducing balance

Stocks
Inventories 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 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 statement of financial position date.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

Keating Jewellers Limited (Registered number: 04950018)

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

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 10,000
AMORTISATION
At 1 April 2022
and 31 March 2023 10,000
NET BOOK VALUE
At 31 March 2023 -
At 31 March 2022 -

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 April 2022
and 31 March 2023 15,316 5,387 20,703
DEPRECIATION
At 1 April 2022 - 3,271 3,271
Charge for year - 317 317
At 31 March 2023 - 3,588 3,588
NET BOOK VALUE
At 31 March 2023 15,316 1,799 17,115
At 31 March 2022 15,316 2,116 17,432

6. INVENTORIES
2023 2022
£    £   
Finished goods 18,000 15,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 968 296
Prepayments and accrued income 9,430 8,639
10,398 8,935

Keating Jewellers Limited (Registered number: 04950018)

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

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 9,912 9,667
Trade creditors 16,954 18,736
Tax 7,989 7,216
Social security and other taxes - 1,019
VAT 6,875 4,116
Other creditors 1,000 9,000
Directors' current accounts 9,788 6,511
Accruals and deferred income 1,599 1,450
54,117 57,715

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans > 1 year 24,100 34,022