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REGISTERED NUMBER: 10458006 (England and Wales)















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 1,987 8,367

CURRENT ASSETS
Stocks 882,089 882,089
Debtors 5 4,094 4,173
Cash at bank 8,305 30
894,488 886,292
CREDITORS
Amounts falling due within one year 6 765,502 646,380
NET CURRENT ASSETS 128,986 239,912
TOTAL ASSETS LESS CURRENT
LIABILITIES

130,973

248,279

CREDITORS
Amounts falling due after more than one year 7 27,650 35,520
NET ASSETS 103,323 212,759

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 103,223 212,659
SHAREHOLDERS' FUNDS 103,323 212,759

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 26th November 2023.

The members have not required the company to obtain an audit of its financial statements for the period ended 26th November 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.

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 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 23rd August 2024 and were signed on its behalf by:



P Ungar - Director


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 private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10458006

Registered office: 1st Floor 49 Peter Street
Manchester
M2 3NG

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 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Improvements Fixtures
to and Computer
property fittings equipment Totals
£    £    £    £   
COST
At 1st December 2022
and 26th November 2023 40,788 1,048 57,808 99,644
DEPRECIATION
At 1st December 2022 33,228 241 57,808 91,277
Charge for period 6,118 262 - 6,380
At 26th November 2023 39,346 503 57,808 97,657
NET BOOK VALUE
At 26th November 2023 1,442 545 - 1,987
At 30th November 2022 7,560 807 - 8,367

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 669 2,960
Amounts owed by associates 3,543 1,213
Wages control (161 ) -
Directors' current accounts 43 -
4,094 4,173

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
26.11.23 30.11.22
£    £   
Bank loans and overdrafts 276,207 15,884
Other loans 1,000 19,000
Trade creditors 205,833 223,505
Amounts owed to associates 26,637 115,528
Tax 77,923 136,954
Social security and other taxes 11,660 12,769
VAT 70,930 91,850
Other creditors 92,512 26,530
Directors' current accounts - 1,560
Accrued expenses 2,800 2,800
765,502 646,380

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
26.11.23 30.11.22
£    £   
Bank loans - 2-5 years 27,650 35,520

8. SECURED DEBTS

The following secured debts are included within creditors:

26.11.23 30.11.22
£    £   
Bank loans 303,857 45,581

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: £    £   
100 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
£    £   
P Ungar and Mrs P Ungar
Balance outstanding at start of period (1,560 ) 460
Amounts advanced 353,295 279,652
Amounts repaid (351,782 ) (281,672 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (47 ) (1,560 )

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.