2023-06-012024-05-312024-05-31false13383795EFE JEWELLERY 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EFE JEWELLERY LIMITED

Registered Number
13383795
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

EFE JEWELLERY LIMITED
Company Information
for the year from 1 June 2023 to 31 May 2024

Director

ERDOGAN, Cuma

Registered Address

100 High Road
Ilford
IG1 1DS

Registered Number

13383795 (England and Wales)
EFE JEWELLERY LIMITED
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets21,24414,095
21,24414,095
Current assets
Stocks3600,000682,290
Debtors12,4649,207
Cash at bank and on hand8,63823,600
621,102715,097
Creditors amounts falling due within one year4(592,676)(707,509)
Net current assets (liabilities)28,4267,588
Total assets less current liabilities49,67021,683
Creditors amounts falling due after one year5-(16,176)
Net assets49,6705,507
Capital and reserves
Called up share capital100100
Profit and loss account49,5705,407
Shareholders' funds49,6705,507
The financial statements were approved and authorised for issue by the Director on 22 July 2024, and are signed on its behalf by:
ERDOGAN, Cuma
Director
Registered Company No. 13383795
EFE JEWELLERY LIMITED
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Revenue from sale of goods
Revenue from the sale of goods is recognised when the company has transferred to the buyer the significant risks and rewards of ownership of the goods, usually when goods are delivered and legal title has passed. Providing the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transition can be measured reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Stocks and work in progress
Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.
2.Average number of employees

20242023
Average number of employees during the year43
3.Stocks

2024

2023

££
Finished goods600,000682,290
Total600,000682,290
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables172,837426,432
Taxation and social security9,81212,915
Other creditors410,027265,862
Accrued liabilities and deferred income-2,300
Total592,676707,509
5.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts-16,176
Total-16,176