REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1st December 2022 to 26th November 2023 |
for |
Peter Ungar Jewellery (Marlow) Limited |
REGISTERED NUMBER: |
Unaudited Financial Statements |
for the Period 1st December 2022 to 26th November 2023 |
for |
Peter Ungar Jewellery (Marlow) Limited |
Peter Ungar Jewellery (Marlow) Limited (Registered number: 10458006) |
Contents of the Financial Statements |
for the Period 1st December 2022 to 26th November 2023 |
Page |
Balance Sheet | 1 |
Notes to the Financial Statements | 2 |
Peter Ungar Jewellery (Marlow) Limited (Registered number: 10458006) |
Balance Sheet |
26th November 2023 |
26.11.23 | 30.11.22 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
CURRENT ASSETS |
Stocks |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year | 7 |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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. |
In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Peter Ungar Jewellery (Marlow) Limited (Registered number: 10458006) |
Notes to the Financial Statements |
for the Period 1st December 2022 to 26th November 2023 |
1. | COMPANY INFORMATION |
Peter Ungar Jewellery (Marlow) Limited is a |
Registered number: |
Registered office: |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. |
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £. |
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below. |
Turnover |
Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates. |
When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income. |
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably. |
Tangible fixed assets |
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses. |
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: |
Leasehold improvements 15% Straight line |
Fixtures and fittings 25% straight line |
Computers 25% Straight line |
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss. |
Peter Ungar Jewellery (Marlow) Limited (Registered number: 10458006) |
Notes to the Financial Statements - continued |
for the Period 1st December 2022 to 26th November 2023 |
2. | ACCOUNTING POLICIES - continued |
Taxation |
Taxation for the period comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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. |
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 period 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. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Going concern |
At the time of approving the accounts the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors are confident that the company is a going concern for the foreseeable future. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the period was |
4. | TANGIBLE FIXED ASSETS |
Improvements | Fixtures |
to | and | Computer |
property | fittings | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1st December 2022 |
and 26th November 2023 |
DEPRECIATION |
At 1st December 2022 |
Charge for period |
At 26th November 2023 |
NET BOOK VALUE |
At 26th November 2023 |
At 30th November 2022 |
Peter Ungar Jewellery (Marlow) Limited (Registered number: 10458006) |
Notes to the Financial Statements - continued |
for the Period 1st December 2022 to 26th November 2023 |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
26.11.23 | 30.11.22 |
£ | £ |
Trade debtors |
Amounts owed by associates |
Wages control | (161 | ) | - |
Directors' current accounts | 43 | - |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
26.11.23 | 30.11.22 |
£ | £ |
Bank loans and overdrafts |
Other loans |
Trade creditors |
Amounts owed to associates | 26,637 | 115,528 |
Tax |
Social security and other taxes |
VAT | 70,930 | 91,850 |
Other creditors |
Directors' current accounts | - | 1,560 |
Accrued expenses |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
26.11.23 | 30.11.22 |
£ | £ |
Bank loans - 2-5 years |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
26.11.23 | 30.11.22 |
£ | £ |
Bank loans |
Within Bank Loans and Overdrafts is a loan that is secured by personal guarantee. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 26.11.23 | 30.11.22 |
value: | £ | £ |
Ordinary | 1 | 100 | 100 |
Peter Ungar Jewellery (Marlow) Limited (Registered number: 10458006) |
Notes to the Financial Statements - continued |
for the Period 1st December 2022 to 26th November 2023 |
10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to directors subsisted during the period ended 26th November 2023 and the year ended 30th November 2022: |
26.11.23 | 30.11.22 |
£ | £ |
Balance outstanding at start of period | ( |
) |
Amounts advanced |
Amounts repaid | ( |
) | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of period | ( |
) | ( |
) |
11. | RELATED PARTY DISCLOSURES |
During the year the company operated a loan account with, director related entity, Beaconsfield Fine Jewellery LLP. Peter Ungar Jewellery (Marlow) Limited advanced £264,734 (2022: £407,797) to Beaconsfield Fine Jewellery LLP and received £188,483 (2022: £725,364). At the balance sheet date £26,638 was due to (2022: £115,528 due from) Beaconsfield Fine Jewellery LLP. |
During the year the company operated a loan account with, director related entity, Marlow Watch Club Limited. Peter Ungar Jewellery (Marlow) Limited received £13,435 (2022: £102,565) from Marlow Watch Club Limited and advanced £15,765 (2022: £120,989). At the balance sheet date £3,543 was due from (2022: £1,213) Marlow Watch Club Limited and this amount is included in other creditors. The loan is interest free and repayable on demand. |
12. | ULTIMATE CONTROLLING PARTY |
The controlling party is P Ungar. |