Company Registration No. 3140257 (England and Wales)
Timothy Roe Fine Jewellery Limited
Unaudited accounts
for the year ended 29 February 2024
Timothy Roe Fine Jewellery Limited
Unaudited accounts
Contents
Timothy Roe Fine Jewellery Limited
Company Information
for the year ended 29 February 2024
Directors
Timothy Roe
Susan Roe
Company Number
3140257 (England and Wales)
Registered Office
12 SOUTH STREET
CHICHESTER
WEST SUSSEX
PO19 1EH
Accountants
B4Bookkeeping Ltd
1 Lincoln House
Tangmere
Chichester
West Sussex
PO20 2FS
Timothy Roe Fine Jewellery Limited
Statement of financial position
as at 29 February 2024
Tangible assets
67,165
64,838
Inventories
808,742
751,793
Cash at bank and in hand
580,888
1,185,452
Creditors: amounts falling due within one year
(20,373)
(140,503)
Net current assets
1,573,468
1,818,003
Net assets
1,640,633
1,882,841
Called up share capital
1,012
1,012
Share premium
114,002
114,002
Profit and loss account
1,525,619
1,767,827
Shareholders' funds
1,640,633
1,882,841
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by
Timothy Roe
Director
Company Registration No. 3140257
Timothy Roe Fine Jewellery Limited
Notes to the Accounts
for the year ended 29 February 2024
Timothy Roe Fine Jewellery Limited is a private company, limited by shares, registered in England and Wales, registration number 3140257. The registered office is 12 SOUTH STREET, CHICHESTER, WEST SUSSEX, PO19 1EH.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts are presented in £ sterling.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Evenly over the lease Term
Plant & machinery
20% Reducing Balance
Fixtures & fittings
10% Straight Line
Computer equipment
20% Straight Line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Timothy Roe Fine Jewellery Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings
Plant & machinery
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 March 2023
135,043
211,032
38,617
384,692
Additions
-
5,496
17,905
23,401
At 29 February 2024
135,043
216,528
56,522
408,093
At 1 March 2023
124,345
162,829
32,680
319,854
Charge for the year
6,476
12,286
2,312
21,074
At 29 February 2024
130,821
175,115
34,992
340,928
At 29 February 2024
4,222
41,413
21,530
67,165
At 28 February 2023
10,698
48,203
5,937
64,838
Amounts falling due within one year
Accrued income and prepayments
29,075
15,074
Other debtors
175,136
1,816
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
4,933
1,984
Trade creditors
4,911
16,756
Taxes and social security
233
118,566
Other creditors
2,003
1,411
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
Loan in year
-
149,663
149,663
-
8
Average number of employees
During the year the average number of employees was 16 (2023: 13).