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No description of principal activities is disclosed
2022-10-01
Sage Accounts Production 21.0 - FRS102_2021
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Company registration number:
NI620373
Murray Jewellery Ltd
Unaudited filleted financial statements
30 September 2023
Murray Jewellery Ltd
Contents
Directors and other information
Director's report
Accountants report
Balance sheet
Notes to the financial statements
Murray Jewellery Ltd
Directors and other information
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Director |
Mr Kieran Murray |
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Company number |
NI620373 |
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Registered office |
29 Talbot Street |
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Belfast |
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BT1 2LD |
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Business address |
29 Talbot Street |
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Belfast |
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BT1 2LD |
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Accountants |
Jones Peters |
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Chartered Accountants |
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6 Church Street |
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Banbridge |
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Co Down |
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BT32 4AA |
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Murray Jewellery Ltd
Director's report
Year ended 30 September 2023
The director presents his report and the unaudited financial statements of the company for the year ended 30 September 2023.
Director
The director who served the company during the year was as follows:
Going Concern
The director has reasonable expectation that the company has adequate resources to continue in operational existence for the forseeable future.
The company therefore continues to adopt the going concern basis in preparing these financial statements.
Small company provisions
This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.
This report was approved by the board of directors on
24 September 2024
and signed on behalf of the board by:
Mr Kieran Murray
Director
Murray Jewellery Ltd
Report to the director on the preparation of the
unaudited statutory financial statements of Murray Jewellery Ltd
Year ended 30 September 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Murray Jewellery Ltd for the year ended 30 September 2023 which comprise the Balance Sheet and related notes from the company's accounting records and from information and explanations you have given us.
As a practising member firm of Chartered Accountants Ireland , we are subject to its ethical and other professional requirements which are detailed at www.charteredaccountants.ie.
This report is made solely to the director of Murray Jewellery Ltd, as a body, in accordance with the terms of our engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Murray Jewellery Ltd and state those matters that we have agreed to state to them, as a body, in this report in accordance with the requirements of Chartered Accountants Ireland as detailed at www.charteredaccountants.ie. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Murray Jewellery Ltd and its director as a body for our work or for this report.
It is your duty to ensure that Murray Jewellery Ltd 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 Murray Jewellery Ltd. You consider that Murray Jewellery Ltd 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 Murray Jewellery Ltd. 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.
Jones Peters
Chartered Accountants
6 Church Street
Banbridge
Co Down
BT32 4AA
24 September 2024
Murray Jewellery Ltd
Balance sheet
30 September 2023
|
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2023 |
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2022 |
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Note |
£ |
|
£ |
|
£ |
|
£ |
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|
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|
|
|
|
|
Fixed assets |
|
|
|
|
|
|
|
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Tangible assets |
|
5 |
173,696 |
|
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|
102,925 |
|
|
|
|
|
_______ |
|
|
|
_______ |
|
|
|
|
|
|
|
173,696 |
|
|
|
102,925 |
|
|
|
|
|
|
|
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|
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Current assets |
|
|
|
|
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|
|
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Stocks |
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1,940,791 |
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|
2,123,496 |
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Debtors |
|
6 |
32,803 |
|
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|
29,133 |
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|
Cash at bank and in hand |
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|
105,611 |
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|
78,584 |
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|
|
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|
_______ |
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|
_______ |
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2,079,205 |
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|
2,231,213 |
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Creditors: amounts falling due |
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|
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|
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|
within one year |
|
7 |
(
241,642) |
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|
|
(
508,640) |
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|
|
|
|
_______ |
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|
|
_______ |
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|
Net current assets |
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|
1,837,563 |
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|
1,722,573 |
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|
|
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|
_______ |
|
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|
_______ |
Total assets less current liabilities |
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2,011,259 |
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1,825,498 |
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|
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|
_______ |
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_______ |
Net assets |
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2,011,259 |
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1,825,498 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
|
8 |
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|
1 |
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|
1 |
Profit and loss account |
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2,011,258 |
|
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1,825,497 |
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|
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_______ |
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_______ |
Shareholders funds |
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2,011,259 |
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1,825,498 |
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_______ |
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_______ |
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For the year ending 30 September 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the Profit and loss and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
24 September 2024
, and are signed on behalf of the board by:
Mr Kieran Murray
Director
Company registration number:
NI620373
Murray Jewellery Ltd
Notes to the financial statements
Year ended 30 September 2023
1.
General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 29 Talbot Street, Belfast, BT1 2LD.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Judgements and key sources of estimation uncertainty
No significant judgements have been made by management in the preparation of these financial statements.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Operating leases
Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis.
Tangible assets
tangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated depreciation and impairment losses.
Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
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Other Assets |
- |
Non-depreciable asset |
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|
Fixtures, Fittings and Computer Equipment |
- |
10 % |
straight line |
|
Motor vehicles |
- |
20 % |
straight line |
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|
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised in finance costs in profit or loss in the period in which it arises.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
11
(2022:
9
).
5.
Tangible assets
|
|
Other assets |
Fixtures, fittings and computer equipment |
Motor vehicles |
Total |
|
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
|
Cost |
|
|
|
|
|
|
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|
At 1 October 2022 |
18,307 |
137,039 |
14,705 |
170,051 |
|
|
|
|
Additions |
- |
13,238 |
75,000 |
88,238 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 September 2023 |
18,307 |
150,277 |
89,705 |
258,289 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
Depreciation |
|
|
|
|
|
|
|
|
At 1 October 2022 |
- |
57,078 |
10,048 |
67,126 |
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|
|
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Charge for the year |
- |
14,526 |
2,941 |
17,467 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
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|
At 30 September 2023 |
- |
71,604 |
12,989 |
84,593 |
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|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
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|
Carrying amount |
|
|
|
|
|
|
|
|
At 30 September 2023 |
18,307 |
78,673 |
76,716 |
173,696 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
At 30 September 2022 |
18,307 |
79,961 |
4,657 |
102,925 |
|
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
|
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6.
Debtors
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Trade debtors |
|
24,270 |
24,270 |
|
Prepayments and accrued income |
|
8,533 |
4,863 |
|
|
|
_______ |
_______ |
|
|
|
32,803 |
29,133 |
|
|
|
_______ |
_______ |
|
|
|
|
|
7.
Creditors: amounts falling due within one year
|
|
|
2023 |
2022 |
|
|
|
£ |
£ |
|
Bank loans and overdrafts |
|
- |
37,974 |
|
Trade creditors |
|
27,850 |
193,002 |
|
Accruals and deferred income |
|
65,147 |
119,734 |
|
Corporation tax |
|
49,739 |
59,397 |
|
Social security and other taxes |
|
87,084 |
84,777 |
|
Director loan accounts |
|
631 |
480 |
|
Other creditors |
|
11,191 |
13,276 |
|
|
|
_______ |
_______ |
|
|
|
241,642 |
508,640 |
|
|
|
_______ |
_______ |
|
|
|
|
|
8.
Called up share capital
Issued, called up and fully paid
|
|
|
2023 |
|
|
|
2022 |
|
|
|
|
|
No |
|
£ |
|
No |
|
£ |
|
Ordinary shares of £
1.00 each |
|
1 |
|
1 |
|
1 |
|
1 |
|
|
|
_______ |
|
_______ |
|
_______ |
|
_______ |
|
|
|
|
|
|
|
|
|
|
9.
Directors advances, credits and guarantees
|
During the year the director entered into the following advances and credits with the company: |
|
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|
|
|
|
|
|
|
|
|
|
|
|
2023 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr Kieran Murray |
(
480) |
64,049 |
(
64,200) |
(
631) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
|
|
|
|
|
|
2022 |
|
|
|
|
|
|
|
|
|
Balance brought forward |
Advances /(credits) to the director |
Amounts repaid |
Balance o/standing |
|
|
|
|
£ |
£ |
£ |
£ |
|
|
|
Mr Kieran Murray |
(
441) |
71,161 |
(
71,200) |
(
480) |
|
|
|
|
_______ |
_______ |
_______ |
_______ |
|
|
|
|
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|