Registered number
10629191
Nielsen & Co Jewellery Ltd
Filleted Accounts
28 February 2024
Nielsen & Co Jewellery Ltd
Registered number: 10629191
Balance Sheet
as at 28 February 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,662 -
Current assets
Stocks 690,600 707,628
Debtors 4 125,135 -
Cash at bank and in hand 40,162 16,786
855,897 724,414
Creditors: amounts falling due within one year 5 (741,978) (598,660)
Net current assets 113,919 125,754
Total assets less current liabilities 119,581 125,754
Creditors: amounts falling due after more than one year 6 (22,468) (32,435)
Net assets 97,113 93,319
Capital and reserves
Called up share capital 100 100
Profit and loss account 97,013 93,219
Shareholders' funds 97,113 93,319
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
David Jakob Kohanzad-Nielsen
Director
Approved by the board on 20 June 2024
Nielsen & Co Jewellery Ltd
Notes to the Accounts
for the year ended 28 February 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
Additions 4,547 1,115 5,662
At 28 February 2024 4,547 1,115 5,662
Depreciation
At 28 February 2024 - - -
Net book value
At 28 February 2024 4,547 1,115 5,662
4 Debtors 2024 2023
£ £
Trade debtors 110,382 -
Other debtors 14,753 -
125,135 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 556,642 409,899
Taxation and social security costs 24,706 24,468
Other creditors 160,630 164,293
741,978 598,660
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 22,468 32,435
7 Other information
Nielsen & Co Jewellery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
36 Hatton Garden
London
EC1N 8EB
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