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REGISTERED NUMBER: 07313968 (England and Wales)















CORNERSTONE JEWELLERS (BOLSOVER) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2024






CORNERSTONE JEWELLERS (BOLSOVER) LIMITED (REGISTERED NUMBER: 07313968)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Report of the Accountants 7

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: S Dungworth
Ms L Barratt





REGISTERED OFFICE: Sidings House
Sidings Court
Lakeside
Doncaster
South Yorkshire
DN4 5NU





REGISTERED NUMBER: 07313968 (England and Wales)






CORNERSTONE JEWELLERS (BOLSOVER) LIMITED (REGISTERED NUMBER: 07313968)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 56,476 284

CURRENT ASSETS
Stocks 44,250 52,880
Debtors 5 2,114 155
Cash at bank 9,916 5,759
56,280 58,794
CREDITORS
Amounts falling due within one year 6 47,070 46,202
NET CURRENT ASSETS 9,210 12,592
TOTAL ASSETS LESS CURRENT
LIABILITIES

65,686

12,876

CREDITORS
Amounts falling due after more than one
year

7

(51,140

)

(6,563

)

PROVISIONS FOR LIABILITIES (5,500 ) (54 )
NET ASSETS 9,046 6,259

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 8,946 6,159
SHAREHOLDERS' FUNDS 9,046 6,259

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED (REGISTERED NUMBER: 07313968)

BALANCE SHEET - continued
31 JULY 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 13 November 2024 and were signed on its behalf by:





S Dungworth - Director


CORNERSTONE JEWELLERS (BOLSOVER) LIMITED (REGISTERED NUMBER: 07313968)

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


1. STATUTORY INFORMATION

Cornerstone Jewellers (Bolsover) 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery etc - 25% on reducing balance and Straight line over 3 years

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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED (REGISTERED NUMBER: 07313968)

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


2. ACCOUNTING POLICIES - continued

Grants
Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 August 2023 1,853
Additions 60,109
At 31 July 2024 61,962
DEPRECIATION
At 1 August 2023 1,569
Charge for year 3,917
At 31 July 2024 5,486
NET BOOK VALUE
At 31 July 2024 56,476
At 31 July 2023 284

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
Additions 60,109
At 31 July 2024 60,109
DEPRECIATION
Charge for year 3,757
At 31 July 2024 3,757
NET BOOK VALUE
At 31 July 2024 56,352

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED (REGISTERED NUMBER: 07313968)

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


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors 2,114 155

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 3,600 3,600
Hire purchase contracts 7,582 -
Trade creditors 17,103 17,004
Taxation and social security 1,673 2,686
Other creditors 17,112 22,912
47,070 46,202

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 2,963 6,563
Hire purchase contracts 48,177 -
51,140 6,563

8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 55,759 -

The hire purchase creditor is secured against the specific fixed asset acquired.

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED

REPORT OF THE ACCOUNTANTS TO THE DIRECTORS OF
CORNERSTONE JEWELLERS (BOLSOVER) LIMITED


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cornerstone Jewellers (Bolsover) Limited for the year ended 31 July 2024 which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Cornerstone Jewellers (Bolsover) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cornerstone Jewellers (Bolsover) Limited and state those matters that we have agreed to state to the Board of Cornerstone Jewellers (Bolsover) Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cornerstone Jewellers (Bolsover) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cornerstone Jewellers (Bolsover) Limited 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 Cornerstone Jewellers (Bolsover) Limited. You consider that Cornerstone Jewellers (Bolsover) Limited 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 Cornerstone Jewellers (Bolsover) Limited. 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.








13 November 2024