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Registered Number: 01831144
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 31 May 2024

for

DAVRAN JEWELLERY LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 16,636    16,427 
16,636    16,427 
Current assets      
Stocks 4 31,944    33,567 
Debtors 5 41,627    48,736 
Cash at bank and in hand 25,798    42,689 
99,369    124,992 
Creditors: amount falling due within one year 6 (108,909)   (127,386)
Net current assets (9,540)   (2,394)
 
Total assets less current liabilities 7,096    14,033 
Creditors: amount falling due after more than one year 7   (398)
Provisions for liabilities 8 (3,913)   (2,703)
Net assets 3,183    10,932 
 

Capital and reserves
     
Called up share capital 33,334    33,334 
Capital Redemption Reserve 9 16,666    16,666 
Profit and loss account (46,817)   (39,068)
Shareholders' funds 3,183    10,932 
 


For the year ended 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 to the Registrar of Companies.
The financial statements were approved by the board of directors on 11 September 2024 and were signed on its behalf by:


-------------------------------
A J Grose
Director
1
General Information
Davran Jewellery Limited is a private company, limited by shares, registered in England and Wales, registration number 01831144, registration address 38 40 Hylton Street , Hockley , Birmingham , West Midlands , B18 6HN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Sale of goods
Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
The Company has transferred the significant risks and rewards of ownership to the buyer
The Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
The amount of revenue can be measured reliably;
It is probable that the Company will receive the consideration due under the transaction; and
The costs incurred or to be incurred in respect of the transaction can be measured reliably.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Plant and Machinery 15% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Debtors and creditors receivable/ payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in the other administrative expenses.
Cash and cash equivalents
Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
2.

Average number of employees

Average number of employees during the year was 6 (2023 : 6).
3.

Tangible fixed assets

Cost or valuation Plant and Machinery   Computer Equipment   Total
  £   £   £
At 01 June 2023 254,611    2,237    256,848 
Additions   2,929    2,929 
Disposals    
At 31 May 2024 254,611    5,166    259,777 
Depreciation
At 01 June 2023 239,919    502    240,421 
Charge for year 2,203    517    2,720 
On disposals    
At 31 May 2024 242,122    1,019    243,141 
Net book values
Closing balance as at 31 May 2024 12,489    4,147    16,636 
Opening balance as at 01 June 2023 14,692    1,735    16,427 


4.

Stocks

2024
£
  2023
£
Stocks 31,944    33,567 
31,944    33,567 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 35,260    43,385 
Other Debtors 6,367    5,351 
41,627    48,736 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 10,428    14,611 
Bank Loans & Overdrafts   5,478 
Taxation and Social Security 24,122    23,453 
Other Creditors 74,359    83,844 
108,909    127,386 

7.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Other Creditors   398 
  398 

8.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 3,913    2,703 
3,913    2,703 

9.

Capital Redemption Reserve

2024
£
  2023
£
Capital Redemption Reserve b/fwd 16,666    16,666 
16,666    16,666 

2