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REGISTERED NUMBER: 04610549 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 January 2024

for

Smith of Keynsham Jewellers Limited

Smith of Keynsham Jewellers Limited (Registered number: 04610549)






Contents of the Financial Statements
for the Year Ended 31 January 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Smith of Keynsham Jewellers Limited

Company Information
for the Year Ended 31 January 2024







DIRECTOR: Mrs Jill Elizabeth Ridler





SECRETARY: Mrs Jill Elizabeth Ridler





REGISTERED OFFICE: 5 High Street
Keynsham
Bristol
Somerset
BS31 1DP





REGISTERED NUMBER: 04610549 (England and Wales)





ACCOUNTANTS: Tankard & Company
1 Three Winds
Downside
Shepton Mallet
Somerset
BA4 4FH

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Balance Sheet
31 January 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 1 1
Tangible assets 5 878 733
879 734

CURRENT ASSETS
Stocks 6 66,490 73,748
Cash at bank and in hand 5,503 18,105
71,993 91,853
CREDITORS
Amounts falling due within one year 7 46,556 38,835
NET CURRENT ASSETS 25,437 53,018
TOTAL ASSETS LESS CURRENT
LIABILITIES

26,316

53,752

CREDITORS
Amounts falling due after more than one
year

8

26,202

41,654
NET ASSETS 114 12,098

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 112 12,096
SHAREHOLDERS' FUNDS 114 12,098

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges her 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.

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Balance Sheet - continued
31 January 2024


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 17 September 2024 and were signed by:





Mrs Jill Elizabeth Ridler - Director


Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Notes to the Financial Statements
for the Year Ended 31 January 2024

1. STATUTORY INFORMATION

Smith of Keynsham 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.

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, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2003, is being amortised evenly over its estimated useful life of twenty 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.
Office Equipment - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Computer equipment - 33% on 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.

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.

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.

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

2. ACCOUNTING POLICIES - continued

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 5 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 75,998
AMORTISATION
At 1 February 2023
and 31 January 2024 75,997
NET BOOK VALUE
At 31 January 2024 1
At 31 January 2023 1

5. TANGIBLE FIXED ASSETS
Fixtures
Office and Computer
Equipment fittings equipment Totals
£    £    £    £   
COST
At 1 February 2023 7,361 6,218 - 13,579
Additions - - 382 382
At 31 January 2024 7,361 6,218 382 13,961
DEPRECIATION
At 1 February 2023 6,949 5,897 - 12,846
Charge for year 62 48 127 237
At 31 January 2024 7,011 5,945 127 13,083
NET BOOK VALUE
At 31 January 2024 350 273 255 878
At 31 January 2023 412 321 - 733

6. STOCKS
31.1.24 31.1.23
£    £   
Stocks 66,490 73,748

Smith of Keynsham Jewellers Limited (Registered number: 04610549)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 16,266 15,004
Trade creditors 16,435 8,933
Corporation Tax 5,215 5,310
Social security and other taxes (277 ) 905
VAT 6,153 6,049
Directors' current accounts 384 384
Accrued expenses 2,380 2,250
46,556 38,835

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans - 2-5 years 26,202 41,654

9. SECURED DEBTS

The following secured debts are included within creditors:

31.1.24 31.1.23
£    £   
Bank loans 42,468 56,658

The Bank Loan is secured against the Director's personal residence.