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Registered number: 06967894
Jacksons Jewellers Ltd
Unaudited Financial Statements
For The Year Ended 31 July 2023
North East Accountancy Solutions Ltd
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 06967894
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 70,940 91,104
70,940 91,104
CURRENT ASSETS
Stocks 5 135,000 95,000
Debtors 6 168,499 149,266
Cash at bank and in hand 30,463 40,807
333,962 285,073
Creditors: Amounts Falling Due Within One Year 7 (152,824 ) (104,058 )
NET CURRENT ASSETS (LIABILITIES) 181,138 181,015
TOTAL ASSETS LESS CURRENT LIABILITIES 252,078 272,119
Creditors: Amounts Falling Due After More Than One Year 8 (26,206 ) (67,417 )
NET ASSETS 225,872 204,702
CAPITAL AND RESERVES
Called up share capital 10 100 100
Profit and Loss Account 225,772 204,602
SHAREHOLDERS' FUNDS 225,872 204,702
Page 1
Page 2
For the year ending 31 July 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Richard Jackson
Director
25/07/2024
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Jacksons Jewellers Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 06967894 . The registered office is 1A Newgate Street, Morpeth, Northumberland, NE61 1AL.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% straight line
Motor Vehicles 25% reducing balance
Fixtures & Fittings 20% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
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4. Tangible Assets
Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £
Cost
As at 1 August 2022 3,881 150,220 8,236 162,337
Additions 1,608 - 2,131 3,739
As at 31 July 2023 5,489 150,220 10,367 166,076
Depreciation
As at 1 August 2022 1,614 65,721 3,898 71,233
Provided during the period 1,098 21,125 1,680 23,903
As at 31 July 2023 2,712 86,846 5,578 95,136
Net Book Value
As at 31 July 2023 2,777 63,374 4,789 70,940
As at 1 August 2022 2,267 84,499 4,338 91,104
5. Stocks
2023 2022
£ £
Finished goods 135,000 95,000
6. Debtors
2023 2022
£ £
Due within one year
Prepayments and accrued income 696 593
VAT - 2,474
Other taxes and social security 297 356
Director's loan account 84,554 79,996
85,547 83,419
Due after more than one year
Other debtors 82,952 65,847
82,952 65,847
168,499 149,266
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 24,172 24,172
Corporation tax 56,483 27,141
VAT 3,503 -
Barclaycard Commercial 23,823 844
Other creditors. 28,537 32,788
Bounce Back Loan. 10,000 10,000
Capital on Tap loan 3 -
Accruals and deferred income 6,303 9,113
152,824 104,058
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 7,039 38,250
Bounce Back Loan 19,167 29,167
26,206 67,417
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 24,172 24,172
Later than one year and not later than five years 7,039 38,250
31,211 62,422
31,211 62,422
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
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