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Registered Number: 10435239
England and Wales

 

 

 

ARTHESDAM JEWELLERY LTD


Abridged Accounts
 


Period of accounts

Start date: 01 November 2022

End date: 31 October 2023
Accountant’s report
You consider that the company is exempt from an audit for the year ended 31 October 2023 . You have acknowledged, on the balance sheet, your responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. These responsibilities include preparing accounts that give a true and fair view of the state of affairs of the company at the end of the financial year and of its profit or loss for the financial year.
In accordance with your instructions, we have prepared the accounts which comprise the Profit and Loss Account, the Statement of Comprehensive Income, the Balance Sheet, the Statement of Changes in Equity and the related notes from the accounting records of the company and on the basis of information and explanations you have given to us.
We have not carried out an audit or any other review, and consequently we do not express any opinion on these accounts.
Jude Consultancy Ltd
31 October 2023



....................................................
Jude Consultancy Ltd
2 Spurway Parade
Woodford Avenue
Ilford
IG2 6UU
03 April 2024
1
 
 
Notes
 
31/10/2023
£
  31/10/2022
£
Current assets      
Cash at bank and in hand 357    358 
Creditors: amount falling due within one year (96,443)   (90,594)
Net current assets (96,086)   (90,236)
 
Total assets less current liabilities (96,086)   (90,236)
Creditors: amount falling due after more than one year (8,464)   (13,514)
Net assets (104,550)   (103,750)
 

Capital and reserves
     
Called up share capital 3 100    100 
Profit and loss account (104,650)   (103,850)
Shareholder's funds (104,550)   (103,750)
 


For the year ended 31 October 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 members have agreed to the preparation of abridged accounts for this accounting period in accordance with section 444(2A).
The financial statements were approved by the board of directors on 03 April 2024 and were signed on its behalf by:


-------------------------------
Agith Navaratnarajah
Director
2
General Information
ARTHESDAM JEWELLERY LTD is a private company, limited by shares, registered in England and Wales, registration number 10435239, registration address 198 Beehive Lane , Ilford , Essex, IG4 5EE.

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.
Going concern basis
The financial statements have been prepared on the basis that the Company will continue to operate as a going concern, which is dependent on various factors, including the successful resolution of the following, continuing, significant matters:

1. Temporary Business Disruption: The Company temporarily ceased its business operations during the reporting period due to the COVID-19 pandemic. This disruption impacted our ability to generate revenue. However, management is actively working towards resuming operations as restrictions are now lifted and market conditions improve.

2. Search for New Business Location: The Company is actively engaged in the search for a new location for its operations. The success of this relocation is essential for the Company to resume its normal course of business.

3. Servicing of Debt: Despite the temporary cessation of operations, the Company has continued to service its debt obligations in accordance with existing agreements. The commitment of the directors to fulfil these obligations underscores their confidence in the Company's long-term prospects.

The ability of the Company to continue as a going concern is subject to the successful resolution of the aforementioned factors. While the Company's management believes that it will be able to address these challenges and continue operations, there remains inherent uncertainty.

Consequently, these circumstances represent a material uncertainty that may cast significant doubt upon the Company's ability to continue as a going concern.

Management's Assessment: The Company's management has carefully assessed the going concern assumption, taking into account the circumstances mentioned above. Management still believes that the actions being taken to resolve these challenges, including securing a new location and servicing debt obligations, will enable the Company to continue as a going concern. However, it is essential to note that there are no guarantees, and the outcome still remains uncertain.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sale taxes.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Operating lease rentals
Rentals payable under operating leases are charged against income on a straight line basis over the lease term.
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:
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 0 (2022 : 0).
3.

Share Capital

Allotted, called up and fully paid
31/10/2023
£
  31/10/2022
£
100 Class A shares of £1.00 each 100    100 
100    100 

3