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REGISTERED NUMBER: 04602702 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

M J RILEY LIMITED

M J RILEY LIMITED (REGISTERED NUMBER: 04602702)

CONTENTS OF THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 3


M J RILEY LIMITED

COMPANY INFORMATION
For The Year Ended 29 February 2024







DIRECTORS: M J Riley
T K Riley





REGISTERED OFFICE: 7a Abbey Business Park
Monks Walk
Farnham
Surrey
GU9 8HT





REGISTERED NUMBER: 04602702 (England and Wales)

M J RILEY LIMITED (REGISTERED NUMBER: 04602702)

ABRIDGED BALANCE SHEET
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,047 1,080

CURRENT ASSETS
Stocks 90,814 91,425
Debtors 2,172 2,935
Cash at bank and in hand 11,421 23,246
104,407 117,606
CREDITORS
Amounts falling due within one year 98,487 94,429
NET CURRENT ASSETS 5,920 23,177
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,967

24,257

CREDITORS
Amounts falling due after more than one year 2,917 20,417
NET ASSETS 4,050 3,840

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 3,950 3,740
SHAREHOLDERS' FUNDS 4,050 3,840

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 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.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 29 February 2024 in accordance with Section 444(2A) of the Companies Act 2006.

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 19 September 2024 and were signed on its behalf by:





M J Riley - Director


M J RILEY LIMITED (REGISTERED NUMBER: 04602702)

NOTES TO THE FINANCIAL STATEMENTS
For The Year Ended 29 February 2024


1. STATUTORY INFORMATION

M J Riley 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared in accordance with the provisions of Section 1A ‘’Smaller Entities’’ of Financial Reporting Standard 102 ‘’The Financial Reporting Standard applicable in the UK and Republic of Ireland’’ and the Companies Act 2006. The financial statements have been prepared under the historical cost convention

Turnover
Turnover represents sales of jewellery, excluding value added tax, sold to customers during the year.

Turnover is recognised as the right to consideration arises and adjustments are made for accrued and deferred income.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful
life.

Leasehold improvements-in accordance with the property lease
Fixtures, fittings and equipment-25% on cost

Stocks
Stocks are stated at the lower of cost and estimated selling price, less costs to complete and sell. Cost includes all costs of purchase, including costs to bring stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments
The company enters into basic financial instruments, which result in the recognition of financial assets and liabilities. Financial instruments are recognised at amortised cost. At the end of each reporting period financial instruments are assessed for evidence of impairment, and changes are recognised in profit or loss.

Taxation
Taxation for the year comprises current 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 tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods.

Consideration is given to whether deferred tax should be provided in respect of material timing differences which have not reversed at the balance sheet date. Deferred tax assets are only recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.

Current tax assets and liabilities are not discounted and are 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.

Hire purchase and leasing commitments
Rentals payable under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable are charged to the profit and loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 6 ) .

M J RILEY LIMITED (REGISTERED NUMBER: 04602702)

NOTES TO THE FINANCIAL STATEMENTS - continued
For The Year Ended 29 February 2024


4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 March 2023 18,895
Additions 248
At 29 February 2024 19,143
DEPRECIATION
At 1 March 2023 17,815
Charge for year 281
At 29 February 2024 18,096
NET BOOK VALUE
At 29 February 2024 1,047
At 28 February 2023 1,080

5. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 30,000 30,000
Between one and five years 55,000 85,000
85,000 115,000