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REGISTERED NUMBER: 04781712 (England and Wales)














ELEMENT JEWELLERY LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 SEPTEMBER 2023






ELEMENT JEWELLERY LIMITED (REGISTERED NUMBER: 04781712)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


ELEMENT JEWELLERY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 SEPTEMBER 2023







DIRECTORS: C J Kindy
N Shields





SECRETARY: C J Kindy





REGISTERED OFFICE: 9 Lower Town Mills
Oxenhope
Keighley
West Yorkshire
BD22 9JY





REGISTERED NUMBER: 04781712 (England and Wales)





ACCOUNTANTS: UHY BPR Heaton
Chartered Accountants
Glenewes House
Gate Way Drive
Leeds
West Yorkshire
LS19 7XY

ELEMENT JEWELLERY LIMITED (REGISTERED NUMBER: 04781712)

BALANCE SHEET
30 SEPTEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 535 1,322
Investment property 5 409,800 433,000
410,335 434,322

CURRENT ASSETS
Debtors 6 330 490
Cash at bank 11,608 2,910
11,938 3,400
CREDITORS
Amounts falling due within one year 7 129,458 111,379
NET CURRENT LIABILITIES (117,520 ) (107,979 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

292,815

326,343

CREDITORS
Amounts falling due after more than one
year

8

(73,830

)

(91,220

)

PROVISIONS FOR LIABILITIES (28,933 ) (34,882 )
NET ASSETS 190,052 200,241

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Share premium 49,900 49,900
Other reserves 89,994 107,394
Retained earnings 49,158 41,947
SHAREHOLDERS' FUNDS 190,052 200,241

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

ELEMENT JEWELLERY LIMITED (REGISTERED NUMBER: 04781712)

BALANCE SHEET - continued
30 SEPTEMBER 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 February 2024 and were signed on its behalf by:




C J Kindy - Director



N Shields - Director


ELEMENT JEWELLERY LIMITED (REGISTERED NUMBER: 04781712)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2023

1. STATUTORY INFORMATION

Element 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 as modified by the revaluation of certain assets.

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 - 25% on cost
Office equipment - 20% on cost

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

The fair value is based on the directors valuation and is arrived at having given consideration to the selling price of similar properties.

Financial instruments
Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the instrument.

Financial assets and liabilities are initially measured at the transaction price, except for those financial assets classified as at fair value through profit or loss.

Basic financial instruments
Basic financial instruments are those with relatively straight forward terms and would normally include cash, bank balances, trade debtors, trade creditors and uncomplicated bank loans.

Where the arrangement does not constitute a financing transaction, e.g trade debtors on normal commercial terms, the debtor will be valued initially at transaction price (i.e. cost) and subsequently at transaction price less impairment (if any) due to concerns over recoverability.

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 balance sheet date.


ELEMENT JEWELLERY LIMITED (REGISTERED NUMBER: 04781712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 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 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.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022
and 30 September 2023 5,115
DEPRECIATION
At 1 October 2022 3,793
Charge for year 787
At 30 September 2023 4,580
NET BOOK VALUE
At 30 September 2023 535
At 30 September 2022 1,322

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 October 2022 433,000
Revaluations (23,200 )
At 30 September 2023 409,800
NET BOOK VALUE
At 30 September 2023 409,800
At 30 September 2022 433,000

The fair value is based on the directors valuation and is arrived at having given consideration to the selling price of similar properties.

ELEMENT JEWELLERY LIMITED (REGISTERED NUMBER: 04781712)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 SEPTEMBER 2023

5. INVESTMENT PROPERTY - continued

Fair value at 30 September 2023 is represented by:
£   
Valuation in 2020 59,025
Valuation in 2021 40,000
Valuation in 2022 43,000
Valuation in 2023 (23,200 )
Cost 290,975
409,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Other debtors 330 490

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 18,235 17,645
Taxation and social security 2,779 2,478
Other creditors 108,444 91,256
129,458 111,379

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 73,830 91,220

Amounts falling due in more than five years:

Repayable by instalments
Bank loans 19,848 28,655

9. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 92,065 108,865

There is a fixed charge over the property owned by the company.