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Registered Number: 07102576


 

 

 

ENVY JEWELLERY LTD


Unaudited Financial Statements
 


Period of accounts

Start date: 01 July 2022

End date: 30 June 2023
Directors Andrew John BULLIVANT
Maria BULLIVANT
Elpida HAMBI
Michael HAMBI
Registered Number 07102576
Registered Office 9 Warstone Lane
Birmingham
B18 6JE
Accountants Marneros Marcus & Co Limited
First Floor, Hagley Court
40 Vicarage Road
Edgbaston
Birmingham
B15 3EZ
1
 
 
Notes
 
2023
£
  2022
£
Fixed assets      
Tangible fixed assets 3 352    705 
352    705 
Current assets      
Stocks 4 37,000    92,000 
Debtors 5 27,903    14,697 
Cash at bank and in hand 12,865    191,647 
77,768    298,344 
Creditors: amount falling due within one year 6 105,421    (72,991)
Net current assets 183,189    225,353 
 
Total assets less current liabilities 183,541    226,058 
Creditors: amount falling due after more than one year 7 (39,668)   (40,881)
Net assets 143,873    185,177 
 

Capital and reserves
     
Called up share capital 100    100 
Profit and loss account 143,773    185,077 
Shareholder's funds 143,873    185,177 
 


For the year ended 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 18 January 2024 and were signed on its behalf by:


-------------------------------
Elpida HAMBI
Director
2
General Information
ENVY JEWELLERY LTD is a private company, limited by shares, registered in , registration number 07102576, registration address 9 Warstone Lane, Birmingham, B18 6JE.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
Statement of compliance
These financial statements have been prepared in compliance with FRS 102 – The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Basis of preparation
The financial statements have been prepared under the historical cost convention as modified by the revaluation of land and buildings and certain financial instruments measured at fair value in accordance with the accounting policies.
The financial statements are prepared in sterling which is the functional currency of the company.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Website cost
Planning and operating costs for the company's website are charged to the income statement as incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Motor Vehicles 5 Straight Line
Fixtures and Fittings 5 Straight Line
Computer Equipment 5 Straight Line
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
2.

Average number of employees

Average number of employees during the year was 6 (2022 : 8).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 July 2022 350    3,487    12,356    16,193 
Additions      
Disposals      
At 30 June 2023 350    3,487    12,356    16,193 
Depreciation
At 01 July 2022 350    3,487    11,651    15,488 
Charge for year     353    353 
On disposals      
At 30 June 2023 350    3,487    12,004    15,841 
Net book values
Closing balance as at 30 June 2023     352    352 
Opening balance as at 01 July 2022     705    705 


4.

Stocks

2023
£
  2022
£
Finished Goods 37,000    92,000 
37,000    92,000 

5.

Debtors: amounts falling due within one year

2023
£
  2022
£
Trade Debtors 22,683    9,575 
22,683    9,575 

5.

Debtors: amounts falling due after one year

2023
£
  2022
£
Prepayments 5,220    5,122 
5,220    5,122 

6.

Creditors: amount falling due within one year

2023
£
  2022
£
Trade Creditors (160,545)   5,486 
Bank Loans & Overdrafts 5,555    5,555 
Corporation Tax 27,453    39,019 
PAYE & Social Security 280    1,810 
VAT 18,223    17,114 
Other Creditors 1,503    1,518 
Pensions   730 
Directors' Current Accounts 2,110    1,759 
(105,421)   72,991 

7.

Creditors: amount falling due after more than one year

2023
£
  2022
£
Bank Loans & Overdrafts 32,868    38,431 
Accrued Expenses 6,800    2,450 
39,668    40,881 

3