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REGISTERED NUMBER: SC411478 (Scotland)















Unaudited Financial Statements for the Year Ended 30 November 2023

for

J.f. Colley (Goldsmiths) Limited

J.f. Colley (Goldsmiths) Limited (Registered number: SC411478)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Balance Sheet 1

Notes to the Financial Statements 3


J.f. Colley (Goldsmiths) Limited (Registered number: SC411478)

Balance Sheet
30 November 2023

30.11.23 30.11.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 82,100 84,665
82,100 84,665

CURRENT ASSETS
Stocks 15,102 19,892
Cash at bank 180,989 192,929
196,091 212,821
CREDITORS
Amounts falling due within one year 6 75,033 71,827
NET CURRENT ASSETS 121,058 140,994
TOTAL ASSETS LESS CURRENT
LIABILITIES

203,158

225,659

CREDITORS
Amounts falling due after more than one year 7 (16,514 ) (26,612 )

PROVISIONS FOR LIABILITIES (27 ) (193 )
NET ASSETS 186,617 198,854

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 186,615 198,852
SHAREHOLDERS' FUNDS 186,617 198,854

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 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.

J.f. Colley (Goldsmiths) Limited (Registered number: SC411478)

Balance Sheet - continued
30 November 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 August 2024 and were signed on its behalf by:




G Colley - Director



S Colley - Director


J.f. Colley (Goldsmiths) Limited (Registered number: SC411478)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

J.F Colley (Goldsmiths) Limited is a private company, limited by shares, domiciled in Scotland, registration number SC411478. The registered office is 112 Hiogh Street, Falkirk, Stirlingshire, FK1 1NW.

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 represents net invoiced sales of goods and services in respect of sale and repair of retail jewellery, excluding value added tax. Sales are recognised at the point at which the goods are transferred and the service is complete.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2013, has been fully amortised..

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 25% on cost
Fixtures and fittings - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are stated at cost less depreciation. Cost represent purchase price together with any incidental costs of acquisition.

The directors have considered the residual value of all tangible fixed assets to be immaterial and therefore all tangible fixed assets are depreciated to nil value.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost is represented by purchase price.

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.

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.

J.f. Colley (Goldsmiths) Limited (Registered number: SC411478)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

2. ACCOUNTING POLICIES - continued

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.

Provisions
Provisions are recognised when the company has a legal or constructive obligation as a result of a past event, it is probable that an outflow of resources will be required to settle the obligation, and the amount has been reliably estimated. Provisions are not recognised for future operating losses. Provisions are discounted where the time value of money is material.

Where there are a number of similar obligations, the likelihood that an outflow will be required in settlement is determined by considering the class of obligations as a whole. A provision is recognised even if the likelihood of an outflow with respect to any one item included in the same class of obligations may be small.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2022
and 30 November 2023 21,000
AMORTISATION
At 1 December 2022
and 30 November 2023 21,000
NET BOOK VALUE
At 30 November 2023 -
At 30 November 2022 -

5. TANGIBLE FIXED ASSETS
Fixtures
Freehold Plant and and Computer
property machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 December 2022
and 30 November 2023 95,000 240 19,883 5,623 120,746
DEPRECIATION
At 1 December 2022 11,108 211 19,883 4,879 36,081
Charge for year 1,900 6 - 659 2,565
At 30 November 2023 13,008 217 19,883 5,538 38,646
NET BOOK VALUE
At 30 November 2023 81,992 23 - 85 82,100
At 30 November 2022 83,892 29 - 744 84,665

J.f. Colley (Goldsmiths) Limited (Registered number: SC411478)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans and overdrafts 10,098 9,849
Trade creditors 7,446 5,954
Taxation and social security 26,212 33,421
Other creditors 31,277 22,603
75,033 71,827

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
30.11.23 30.11.22
£    £   
Bank loans 16,514 26,612