IRIS Accounts Production v24.3.0.553 06477795 Board of Directors 1.2.23 31.1.24 31.1.24 false true false false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh064777952023-01-31064777952024-01-31064777952023-02-012024-01-31064777952022-01-31064777952022-02-012023-01-31064777952023-01-3106477795ns15:EnglandWales2023-02-012024-01-3106477795ns14:PoundSterling2023-02-012024-01-3106477795ns10:Director12023-02-012024-01-3106477795ns10:PrivateLimitedCompanyLtd2023-02-012024-01-3106477795ns10:SmallEntities2023-02-012024-01-3106477795ns10:AuditExempt-NoAccountantsReport2023-02-012024-01-3106477795ns10:SmallCompaniesRegimeForDirectorsReport2023-02-012024-01-3106477795ns10:SmallCompaniesRegimeForAccounts2023-02-012024-01-3106477795ns10:FullAccounts2023-02-012024-01-310647779512023-02-012024-01-3106477795ns10:Director22023-02-012024-01-3106477795ns10:RegisteredOffice2023-02-012024-01-3106477795ns5:CurrentFinancialInstruments2024-01-3106477795ns5:CurrentFinancialInstruments2023-01-3106477795ns5:ShareCapital2024-01-3106477795ns5:ShareCapital2023-01-3106477795ns5:RetainedEarningsAccumulatedLosses2024-01-3106477795ns5:RetainedEarningsAccumulatedLosses2023-01-3106477795ns5:NetGoodwill2023-02-012024-01-3106477795ns5:IntangibleAssetsOtherThanGoodwill2023-02-012024-01-3106477795ns5:LandBuildings2023-02-012024-01-3106477795ns5:PlantMachinery2023-02-012024-01-3106477795ns5:NetGoodwill2023-01-3106477795ns5:NetGoodwill2024-01-3106477795ns5:NetGoodwill2023-01-3106477795ns5:LandBuildingsns5:ShortLeaseholdAssets2023-01-3106477795ns5:LeaseholdImprovements2023-01-3106477795ns5:PlantMachinery2023-01-3106477795ns5:LandBuildingsns5:ShortLeaseholdAssets2023-02-012024-01-3106477795ns5:LeaseholdImprovements2023-02-012024-01-3106477795ns5:LandBuildingsns5:ShortLeaseholdAssets2024-01-3106477795ns5:LeaseholdImprovements2024-01-3106477795ns5:PlantMachinery2024-01-3106477795ns5:LandBuildingsns5:ShortLeaseholdAssets2023-01-3106477795ns5:LeaseholdImprovements2023-01-3106477795ns5:PlantMachinery2023-01-3106477795ns5:FurnitureFittings2023-01-3106477795ns5:ComputerEquipment2023-01-3106477795ns5:FurnitureFittings2023-02-012024-01-3106477795ns5:ComputerEquipment2023-02-012024-01-3106477795ns5:FurnitureFittings2024-01-3106477795ns5:ComputerEquipment2024-01-3106477795ns5:FurnitureFittings2023-01-3106477795ns5:ComputerEquipment2023-01-3106477795ns5:WithinOneYearns5:CurrentFinancialInstruments2024-01-3106477795ns5:WithinOneYearns5:CurrentFinancialInstruments2023-01-31
REGISTERED NUMBER: 06477795 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

MICALLEF JEWELLERS LTD

MICALLEF JEWELLERS LTD (REGISTERED NUMBER: 06477795)






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


MICALLEF JEWELLERS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: M Micallef
Mrs J A Micallef





REGISTERED OFFICE: 28 Rainham Shopping Centre
Rainham
Kent
ME8 7HW





REGISTERED NUMBER: 06477795 (England and Wales)





ACCOUNTANTS: The Accountancy Practice Ltd
10 Churchill Square
Kings Hill
West Malling
Kent
ME19 5YU

MICALLEF JEWELLERS LTD (REGISTERED NUMBER: 06477795)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 100 100
Tangible assets 5 4,264 5,623
4,364 5,723

CURRENT ASSETS
Stocks 320,000 290,000
Debtors 6 30,456 30,456
Cash at bank and in hand 71,003 117,130
421,459 437,586
CREDITORS
Amounts falling due within one year 7 197,687 236,405
NET CURRENT ASSETS 223,772 201,181
TOTAL ASSETS LESS CURRENT
LIABILITIES

228,136

206,904

PROVISIONS FOR LIABILITIES 667 1,130
NET ASSETS 227,469 205,774

CAPITAL AND RESERVES
Called up share capital 103 103
Retained earnings 227,366 205,671
SHAREHOLDERS' FUNDS 227,469 205,774

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 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.

MICALLEF JEWELLERS LTD (REGISTERED NUMBER: 06477795)

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 Board of Directors and authorised for issue on 25 October 2024 and were signed on its behalf by:





M Micallef - Director


MICALLEF JEWELLERS LTD (REGISTERED NUMBER: 06477795)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Micallef Jewellers Ltd 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 2008, is being amortised evenly over its estimated useful life of ten 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.
Land and buildings - in accordance with the property
Plant and machinery etc - 25% 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.

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.

MICALLEF JEWELLERS LTD (REGISTERED NUMBER: 06477795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2023 - 17 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2023
and 31 January 2024 100,000
AMORTISATION
At 1 February 2023
and 31 January 2024 99,900
NET BOOK VALUE
At 31 January 2024 100
At 31 January 2023 100

5. TANGIBLE FIXED ASSETS
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 February 2023
and 31 January 2024 4,182 2,112 8,227
DEPRECIATION
At 1 February 2023 3,154 2,085 8,125
Charge for year 209 6 27
At 31 January 2024 3,363 2,091 8,152
NET BOOK VALUE
At 31 January 2024 819 21 75
At 31 January 2023 1,028 27 102

MICALLEF JEWELLERS LTD (REGISTERED NUMBER: 06477795)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 February 2023
and 31 January 2024 109,547 32,036 156,104
DEPRECIATION
At 1 February 2023 106,872 30,245 150,481
Charge for year 668 449 1,359
At 31 January 2024 107,540 30,694 151,840
NET BOOK VALUE
At 31 January 2024 2,007 1,342 4,264
At 31 January 2023 2,675 1,791 5,623

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Other debtors 30,456 30,456

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 78,757 108,407
Trade creditors 57,564 59,843
Taxation and social security 17,825 20,064
Other creditors 43,541 48,091
197,687 236,405

8. ULTIMATE CONTROLLING PARTY

Mr M Micallef, director of the company, is the ultimate controlling party by virtue of his shareholding.