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REGISTERED NUMBER: 06763116 (England and Wales)


















Unaudited Financial Statements

for the Year Ended 31 December 2023

for

James Stephens Jewellers Limited

James Stephens Jewellers Limited (Registered number: 06763116)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Accountants' Report 8

James Stephens Jewellers Limited

Company Information
for the Year Ended 31 December 2023







DIRECTOR: J D Stephens





SECRETARY: Mrs S K Stephens





REGISTERED OFFICE: Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ





REGISTERED NUMBER: 06763116 (England and Wales)





ACCOUNTANTS: Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ

James Stephens Jewellers Limited (Registered number: 06763116)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Tangible assets 5 107,331 100,766
107,331 100,766

CURRENT ASSETS
Stocks 193,488 171,307
Debtors 6 518,131 518,710
Cash at bank and in hand 82,651 54,386
794,270 744,403
CREDITORS
Amounts falling due within one year 7 249,261 250,757
NET CURRENT ASSETS 545,009 493,646
TOTAL ASSETS LESS CURRENT
LIABILITIES

652,340

594,412

PROVISIONS FOR LIABILITIES 8 22,554 10,516
NET ASSETS 629,786 583,896

CAPITAL AND RESERVES
Called up share capital 9 101 101
Retained earnings 629,685 583,795
SHAREHOLDERS' FUNDS 629,786 583,896

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

James Stephens Jewellers Limited (Registered number: 06763116)

Balance Sheet - continued
31 December 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 director and authorised for issue on 10 September 2024 and were signed by:





J D Stephens - Director


James Stephens Jewellers Limited (Registered number: 06763116)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

James Stephens Jewellers Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 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 is measured at the fair value of the consideration received or receivable net of VAT and trade discounts. Sale of services are recognised when the company has delivered to the customer services and collectability of the related receivable is reasonably assured.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of ten years.

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.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance and 20% on cost
Computer equipment - 33.3% straight line

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

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.


James Stephens Jewellers Limited (Registered number: 06763116)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 10,000
AMORTISATION
At 1 January 2023
and 31 December 2023 10,000
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

James Stephens Jewellers Limited (Registered number: 06763116)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and Computer
leasehold machinery fittings equipment Totals
£    £    £    £    £   
COST
At 1 January 2023 16,580 48,100 88,166 13,344 166,190
Additions - 15,542 19,424 1,381 36,347
Disposals - - - (2,266 ) (2,266 )
At 31 December 2023 16,580 63,642 107,590 12,459 200,271
DEPRECIATION
At 1 January 2023 1,658 28,297 22,646 12,823 65,424
Charge for year 1,658 8,836 18,443 845 29,782
Eliminated on disposal - - - (2,266 ) (2,266 )
At 31 December 2023 3,316 37,133 41,089 11,402 92,940
NET BOOK VALUE
At 31 December 2023 13,264 26,509 66,501 1,057 107,331
At 31 December 2022 14,922 19,803 65,520 521 100,766

6. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 26,584 17,388
Other debtors 40,547 50,322
67,131 67,710

Amounts falling due after more than one year:
Other debtors 451,000 451,000

Aggregate amounts 518,131 518,710

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade creditors 82,635 36,073
Taxation and social security 56,845 68,233
Other creditors 109,781 146,451
249,261 250,757

8. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax
Accelerated capital allowances 22,554 10,516

James Stephens Jewellers Limited (Registered number: 06763116)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 January 2023 10,516
Provided during year 12,038
Balance at 31 December 2023 22,554

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
101 Ordinary £1 101 101

10. RELATED PARTY DISCLOSURES

Next Step Developments Limited

A company in which Mr James Stephens is a shareholder.

At the balance sheet date an amount of £451,000 (2022: £451,000) was owed from the above company.

Chartered Accountants' Report to the Director
on the Unaudited Financial Statements of
James Stephens Jewellers Limited

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of James Stephens Jewellers Limited for the year ended 31 December 2023 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the director of James Stephens Jewellers Limited in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of James Stephens Jewellers Limited and state those matters that we have agreed to state to the director of James Stephens Jewellers Limited in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than James Stephens Jewellers Limited and its director for our work or for this report.

It is your duty to ensure that James Stephens Jewellers Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of James Stephens Jewellers Limited. You consider that James Stephens Jewellers Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of James Stephens Jewellers Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Mudd Partners LLP
Chartered Accountants
Lakeview House
4 Woodbrook Crescent
Billericay
Essex
CM12 0EQ


10 September 2024