Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-3113principal activity of the company is that of a jewellers2023-04-01false15truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 01675371 2023-04-01 2024-03-31 01675371 2022-04-01 2023-03-31 01675371 2024-03-31 01675371 2023-03-31 01675371 2022-04-01 01675371 c:Director3 2023-04-01 2024-03-31 01675371 d:Buildings d:ShortLeaseholdAssets 2023-04-01 2024-03-31 01675371 d:Buildings d:ShortLeaseholdAssets 2024-03-31 01675371 d:Buildings d:ShortLeaseholdAssets 2023-03-31 01675371 d:FurnitureFittings 2023-04-01 2024-03-31 01675371 d:FurnitureFittings 2024-03-31 01675371 d:FurnitureFittings 2023-03-31 01675371 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01675371 d:OwnedOrFreeholdAssets 2023-04-01 2024-03-31 01675371 d:CurrentFinancialInstruments 2024-03-31 01675371 d:CurrentFinancialInstruments 2023-03-31 01675371 d:Non-currentFinancialInstruments 2024-03-31 01675371 d:Non-currentFinancialInstruments 2023-03-31 01675371 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 01675371 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 01675371 d:ShareCapital 2024-03-31 01675371 d:ShareCapital 2023-03-31 01675371 d:RetainedEarningsAccumulatedLosses 2024-03-31 01675371 d:RetainedEarningsAccumulatedLosses 2023-03-31 01675371 d:AcceleratedTaxDepreciationDeferredTax 2024-03-31 01675371 d:AcceleratedTaxDepreciationDeferredTax 2023-03-31 01675371 d:OtherDeferredTax 2024-03-31 01675371 d:OtherDeferredTax 2023-03-31 01675371 c:OrdinaryShareClass1 2023-04-01 2024-03-31 01675371 c:OrdinaryShareClass1 2024-03-31 01675371 c:FRS102 2023-04-01 2024-03-31 01675371 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 01675371 c:FullAccounts 2023-04-01 2024-03-31 01675371 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 01675371 2 2023-04-01 2024-03-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 01675371









CELLINI (PEARLS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 MARCH 2024

 
CELLINI (PEARLS) LIMITED
REGISTERED NUMBER: 01675371

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
85,150
39,678

  
85,150
39,678

CURRENT ASSETS
  

Stocks
  
861,501
711,941

Debtors
 5 
1,388,569
1,471,474

Cash at bank and in hand
  
339,678
693,665

  
2,589,748
2,877,080

Creditors: amounts falling due within one year
 6 
(167,305)
(165,455)

NET CURRENT ASSETS
  
 
 
2,422,443
 
 
2,711,625

TOTAL ASSETS LESS CURRENT LIABILITIES
  
2,507,593
2,751,303

PROVISIONS FOR LIABILITIES
  

Deferred tax
 7 
(20,304)
(9,025)

  
 
 
(20,304)
 
 
(9,025)

NET ASSETS
  
2,487,289
2,742,278


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
2,487,189
2,742,178

  
2,487,289
2,742,278


Page 1

 
CELLINI (PEARLS) LIMITED
REGISTERED NUMBER: 01675371
    
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J Bainbridge
Director

Date: 6 September 2024

The notes on pages 3 to 8 form part of these financial statements.

Page 2

 
CELLINI (PEARLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


GENERAL INFORMATION

Cellini (Pearls) Limited is a private company limited by shares and incorporated in England and Wales. Its registered office is 4 Rose Crescent, Cambridge, CB2 3LL.

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention 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.

The following principal accounting policies have been applied:

 
2.2

FOREIGN CURRENCY TRANSLATION

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of Income and Retained Earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
2.3

TURNOVER

Turnover comprises revenue recognised by the company in respect of goods and services supplied during the year, exclusive of Value Added Tax and trade discounts. 

 
2.4

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
CELLINI (PEARLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)


2.4
TANGIBLE FIXED ASSETS (CONTINUED)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Short-term leasehold property
-
straight line over the period of the lease
Fixtures and fittings
-
15% straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.5

STOCKS

Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks.

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

CASH AND CASH EQUIVALENTS

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

DIVIDENDS

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.10

OPERATING LEASES

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Page 4

 
CELLINI (PEARLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.11

PENSIONS

DEFINED CONTRIBUTION PENSION PLAN

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.12

INTEREST INCOME

Interest income is recognised in profit or loss using the effective interest method.

 
2.13

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.14

PROVISIONS FOR LIABILITIES

Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation.
Provisions are charged as an expense to profit or loss in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties.
When payments are eventually made, they are charged to the provision carried in the Balance Sheet.

Page 5

 
CELLINI (PEARLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


EMPLOYEES

The average monthly number of employees, including directors, during the year was 15 (2023 - 13).


4.


TANGIBLE FIXED ASSETS





Short-term leasehold property
Fixtures and fittings
Total

£
£
£



COST OR VALUATION


At 1 April 2023
16,537
266,211
282,748


Additions
14,312
42,366
56,678


Disposals
(1,234)
(153,214)
(154,448)



At 31 March 2024

29,615
155,363
184,978



DEPRECIATION


At 1 April 2023
16,537
226,533
243,070


Charge for the year on owned assets
951
10,255
11,206


Disposals
(1,234)
(153,214)
(154,448)



At 31 March 2024

16,254
83,574
99,828



NET BOOK VALUE



At 31 March 2024
13,361
71,789
85,150



At 31 March 2023
-
39,678
39,678

Page 6

 
CELLINI (PEARLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

5.


DEBTORS


2024
2023
£
£

DUE AFTER MORE THAN ONE YEAR

Amounts owed by group undertakings
1,323,677
1,439,257

1,323,677
1,439,257

DUE WITHIN ONE YEAR

Other debtors
8,714
7,442

Prepayments and accrued income
56,178
24,775

1,388,569
1,471,474



6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
47,006
52,478

Corporation tax
67,873
81,564

Other taxation and social security
29,536
24,112

Other creditors
12,606
838

Accruals and deferred income
10,284
6,463

167,305
165,455


Included above are amounts due to defined contribution pension schemes of £4,186 (2023 - £2,664).

Page 7

 
CELLINI (PEARLS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

7.


DEFERRED TAXATION




2024
2023


£

£






At beginning of year
9,025
7,462


Charged to profit or loss
11,279
1,563



AT END OF YEAR
20,304
9,025

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
20,851
9,387

Other short-term timing differences
(547)
(362)

20,304
9,025


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



100 Ordinary shares of £1 each
100
100



9.OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies that are not included in the balance sheet amount to £487,500 (2023 - £44,721).

 
Page 8