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Registered number: 03781272
Barry Bott Jewellers Limited
Unaudited ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 03781272
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 29,407 30,480
Investments 5 1,800 1,800
31,207 32,280
CURRENT ASSETS
Stocks 294,175 289,175
Debtors 12,373 10,639
Cash at bank and in hand 162,730 261,222
469,278 561,036
Creditors: Amounts Falling Due Within One Year (81,786 ) (99,360 )
NET CURRENT ASSETS (LIABILITIES) 387,492 461,676
TOTAL ASSETS LESS CURRENT LIABILITIES 418,699 493,956
PROVISIONS FOR LIABILITIES
Deferred Taxation (4,902 ) (6,131 )
NET ASSETS 413,797 487,825
CAPITAL AND RESERVES
Called up share capital 6 999 999
Profit and Loss Account 412,798 486,826
SHAREHOLDERS' FUNDS 413,797 487,825
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Page 2
For the year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
All of the company's members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Ms S J Murphy
Director
17 October 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Abridged Financial Statements
1. General Information
Barry Bott Jewellers Limited is a private company, limited by shares, incorporated in England & Wales, registered number 03781272 . The registered office is 9a Leicester Road, Blaby, Leicester, LE8 4GR.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Leasehold 10% Straight Line
Plant & Machinery 15% Reducing Balance
Motor Vehicles 20% Reducing Balance
2.4. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.6. Pensions
The company operates a defined pension contribution scheme. Contributions are charged to the profit and loss account as they become payable in accordance with the rules of the scheme.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 10 (2023: 12)
10 12
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4. Tangible Assets
Total
£
Cost
As at 1 April 2023 184,989
Additions 4,000
As at 31 March 2024 188,989
Depreciation
As at 1 April 2023 154,509
Provided during the period 5,073
As at 31 March 2024 159,582
Net Book Value
As at 31 March 2024 29,407
As at 1 April 2023 30,480
5. Investments
Total
£
Cost
As at 1 April 2023 1,800
As at 31 March 2024 1,800
Provision
As at 1 April 2023 -
As at 31 March 2024 -
Net Book Value
As at 31 March 2024 1,800
As at 1 April 2023 1,800
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 999 999
7. Directors Advances, Credits and Guarantees
During the year the directors entered into the following advances and credits with the company:
As at 1 April 2023 Amounts advanced Amounts repaid Amounts written off As at 31 March 2024
£ £ £ £ £
Ms Sadie Murphy (2,056 ) (13,646 ) - - (15,702 )
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