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REGISTERED NUMBER: 00446122 (England and Wales)















SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023






SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: D J Sayer
P R Cheer



SECRETARY: P R Cheer



REGISTERED OFFICE: 27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



REGISTERED NUMBER: 00446122 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: HSBC Bank PLC
49 Lumley Road
Skegness
Lincolnshire
PE25 3LW

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 10,792 10,759
Investments 5 4,800 4,800
15,592 15,559

CURRENT ASSETS
Stocks 378,270 628,264
Debtors 6 3,949 5,255
Cash at bank and in hand 252,872 922,985
635,091 1,556,504
CREDITORS
Amounts falling due within one year 7 265,356 293,226
NET CURRENT ASSETS 369,735 1,263,278
TOTAL ASSETS LESS CURRENT LIABILITIES 385,327 1,278,837

CREDITORS
Amounts falling due after more than one year 8 (282,500 ) (345,000 )

PROVISIONS FOR LIABILITIES (2,027 ) (2,015 )
NET ASSETS 100,800 931,822

CAPITAL AND RESERVES
Called up share capital 9 2,450 2,450
Revaluation reserve 10 3,301 3,301
Capital redemption reserve 2,550 2,550
Retained earnings 92,499 923,521
SHAREHOLDERS' FUNDS 100,800 931,822

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 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 19 March 2024 and were signed on its behalf by:





D J Sayer - Director


SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Sayer & Sons (Skegness 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 as modified by the revaluation of certain assets.

Turnover
Turnover represents amounts chargeable by the company for the goods and services provided during the year, excluding value added tax and trade discount.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - 1 - 15 years straight line
Plant and machinery etc - 33% on cost and 15% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and 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 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.

Pension costs and other post-retirement benefits
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme were charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 15 ) .

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023 - 104,805 104,805
Additions 175,000 4,650 179,650
Disposals (175,000 ) (80,563 ) (255,563 )
At 31 December 2023 - 28,892 28,892
DEPRECIATION
At 1 January 2023 - 94,046 94,046
Charge for year - 2,210 2,210
Eliminated on disposal - (78,156 ) (78,156 )
At 31 December 2023 - 18,100 18,100
NET BOOK VALUE
At 31 December 2023 - 10,792 10,792
At 31 December 2022 - 10,759 10,759

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2023
and 31 December 2023 4,800
NET BOOK VALUE
At 31 December 2023 4,800
At 31 December 2022 4,800

Cost or valuation at 31 December 2023 is represented by:

Other
investments
£   
Valuation in 2022 4,800

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 1,330 -
Other debtors 2,619 5,255
3,949 5,255

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 8,907 16,829
Taxation and social security 90,975 98,201
Other creditors 165,474 178,196
265,356 293,226

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Other creditors 282,500 345,000

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2,450 Ordinary shares 1 2,450 2,450

10. RESERVES
Revaluation
reserve
£   
At 1 January 2023
and 31 December 2023 3,301

11. DIRECTORS LOAN

The directors have provided the company with an interest free loan totalling £159,003 (2022 £170,555)