2023-04-012024-03-312024-03-31false13273306Nettletons Jewellers 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Nettletons Jewellers Ltd

Registered Number
13273306
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

Nettletons Jewellers Ltd
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

Joseph Michael Cunningham
Matthew John Nettleton

Registered Address

C/O Seftons
135-143 Union Street
Oldham
OL1 1TE

Place of Business

20 Castle Street

Clitheroe

BB7 2BX


Registered Number

13273306 (England and Wales)
Nettletons Jewellers Ltd
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets314,40021,600
Tangible assets510,17811,751
24,57833,351
Current assets
Stocks6423,158447,443
Debtors14,34010,967
Cash at bank and on hand719,831578,740
1,157,3291,037,150
Creditors amounts falling due within one year7(535,074)(587,347)
Net current assets (liabilities)622,255449,803
Total assets less current liabilities646,833483,154
Provisions for liabilities8(2,545)-
Net assets644,288483,154
Capital and reserves
Called up share capital100100
Profit and loss account644,188483,054
Shareholders' funds644,288483,154
The financial statements were approved and authorised for issue by the Board of Directors on 6 August 2024, and are signed on its behalf by:
Matthew John Nettleton
Director
Registered Company No. 13273306
Nettletons Jewellers Ltd
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.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
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.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
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.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Intangible assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
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).
2.Average number of employees

20242023
Average number of employees during the year89
3.Intangible assets

Goodwill

Total

££
Cost or valuation
At 01 April 2336,00036,000
At 31 March 2436,00036,000
Amortisation and impairment
At 01 April 2314,40014,400
Charge for year7,2007,200
At 31 March 2421,60021,600
Net book value
At 31 March 2414,40014,400
At 31 March 2321,60021,600
4.Useful life of intangible assets
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
5.Tangible fixed assets

Fixtures & fittings

Total

££
Cost or valuation
At 01 April 2319,87919,879
Additions1,8201,820
At 31 March 2421,69921,699
Depreciation and impairment
At 01 April 238,1288,128
Charge for year3,3933,393
At 31 March 2411,52111,521
Net book value
At 31 March 2410,17810,178
At 31 March 2311,75111,751
6.Stocks

2024

2023

££
Payments on account, stocks423,158447,443
Total423,158447,443
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables2,70522,524
Taxation and social security93,78276,691
Other creditors407,885457,983
Accrued liabilities and deferred income30,70230,149
Total535,074587,347
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
8.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)2,545-
Total2,545-