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REGISTERED NUMBER: 06609002 (England and Wales)















Financial Statements for the Year Ended 31 December 2023

for

Jewellery Validation Service Limited

Jewellery Validation Service Limited (Registered number: 06609002)

Contents of the Financial Statements
for the year ended 31 December 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

Jewellery Validation Service Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: Mr T E Belson
Mr A Dunga
Mr H A Kjellin





SECRETARY:





REGISTERED OFFICE: 63 - 66 Hatton Garden
London
EC1N 8LE





REGISTERED NUMBER: 06609002 (England and Wales)





ACCOUNTANTS: Westell Accountants
3 Bradfield Court
Drayton Mill, Milton Road
Drayton
Abingdon
Oxfordshire
OX14 4EF

Jewellery Validation Service Limited (Registered number: 06609002)

Balance Sheet
31 December 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 158,720 167,437
Tangible assets 5 10,358 7,702
169,078 175,139

CURRENT ASSETS
Stocks 87,335 54,750
Debtors 6 1,053,198 773,193
Cash at bank and in hand 155,787 66,686
1,296,320 894,629
CREDITORS
Amounts falling due within one year 7 1,142,954 787,257
NET CURRENT ASSETS 153,366 107,372
TOTAL ASSETS LESS CURRENT LIABILITIES 322,444 282,511

CREDITORS
Amounts falling due after more than one
year

8

(23,945

)

(26,667

)

PROVISIONS FOR LIABILITIES (2,415 ) (1,463 )
NET ASSETS 296,084 254,381

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 295,984 254,281
SHAREHOLDERS' FUNDS 296,084 254,381

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.

Jewellery Validation Service Limited (Registered number: 06609002)

Balance Sheet - 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:





Mr T E Belson - Director


Jewellery Validation Service Limited (Registered number: 06609002)

Notes to the Financial Statements
for the year ended 31 December 2023


1. STATUTORY INFORMATION

Jewellery Validation Service 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of five years.

Intangible assets
The company has developed its own software tool for claims on line and has capitalised wage costs relating to the ongoing development of said product.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 20% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, 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 Income Statement, 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 balance sheet date.


Jewellery Validation Service Limited (Registered number: 06609002)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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 operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 43,589 150,000 193,589
AMORTISATION
At 1 January 2023 26,152 - 26,152
Charge for year 8,717 - 8,717
At 31 December 2023 34,869 - 34,869
NET BOOK VALUE
At 31 December 2023 8,720 150,000 158,720
At 31 December 2022 17,437 150,000 167,437

Jewellery Validation Service Limited (Registered number: 06609002)

Notes to the Financial Statements - continued
for the year ended 31 December 2023


5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2023 10,841
Additions 4,619
At 31 December 2023 15,460
DEPRECIATION
At 1 January 2023 3,139
Charge for year 1,963
At 31 December 2023 5,102
NET BOOK VALUE
At 31 December 2023 10,358
At 31 December 2022 7,702

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 27,588 25,816
Other debtors 1,025,610 747,377
1,053,198 773,193

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Trade creditors 1,020,082 641,232
Taxation and social security 60,122 18,499
Other creditors 52,750 117,526
1,142,954 787,257

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 23,945 26,667

Jewellery Validation Service Limited

Report of the Accountants to the Directors of
Jewellery Validation Service Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 December 2023 set out on pages three to nine and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.






Westell Accountants
3 Bradfield Court
Drayton Mill, Milton Road
Drayton
Abingdon
Oxfordshire
OX14 4EF


Date: .............................................