2023-04-012024-03-312024-03-31false01692729JEWELSPRING 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JEWELSPRING LIMITED

Registered Number
01692729
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

JEWELSPRING LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

CHALMERS, Sara Jane
MADDISON, Vivienne Helen

Company Secretary

CHALMERS, Sara Jane

Registered Address

C/O Armstrong Watson 1st Floor
One Strawberry Lane
Newcastle Upon Tyne
NE1 4BX

Registered Number

01692729 (England and Wales)
JEWELSPRING LIMITED
Statement of Financial Position
31 March 2024

Notes

2024

2023

£

£

£

£

Current assets
Stocks386,34687,746
Debtors43,0722,638
Cash at bank and on hand14,62315,230
104,041105,614
Creditors amounts falling due within one year5(50,282)(54,204)
Net current assets (liabilities)53,75951,410
Total assets less current liabilities53,75951,410
Net assets53,75951,410
Capital and reserves
Called up share capital22
Profit and loss account53,75751,408
Shareholders' funds53,75951,410
The financial statements were approved and authorised for issue by the Board of Directors on 14 August 2024, and are signed on its behalf by:
CHALMERS, Sara Jane
Director
Registered Company No. 01692729
JEWELSPRING LIMITED
Notes to the Financial Statements
for the year ended 31 March 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.
Basis of preparation
The financial statements have been prepared under the historical cost convention on a going concern basis unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
Judgements and key sources of estimation uncertainty
In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. These critical accounting judgements and estimations are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates. The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Turnover policy
Turnover represents ground rents and other income receivable in respect of freehold reversions, together with sales of freehold reversions.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Stocks and work in progress
Stocks are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete). At each date of Statement of Financial Position, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Income Statement. Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any foreseeable losses where appropriate. No element of profit is included in the valuation of work in progress.
Financial instruments
The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2.Average number of employees

20242023
Average number of employees during the year22
3.Stocks
Stocks are stated at the lower of cost and net realisable value. In determining the cost of freehold reversions, average purchase price is used.

2024

2023

££
Raw materials and consumables86,34687,746
Total86,34687,746
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables3,0722,638
Total3,0722,638
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security4,5443,555
Other creditors40,00040,000
Accrued liabilities and deferred income5,73810,649
Total50,28254,204
6.Related party transactions
The company was under control of Mrs F S Horne and Mrs V H Maddison throughout the previous and current year. Included within other creditors is a loan balance of £20,000 (2023, £20,000) due to Mrs F S Horne and a director's current account balance due to Mrs V H Maddison of £20,000 (2023, £20,000). Mrs V H Maddison was paid dividends of £8,000 (2023, £11,000) during the year. There were no further transactions with related parties that were undertaken such as are required to be disclosed under the Financial Reporting Standard 102 Section 1A.