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REGISTERED NUMBER: 04660042 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Truscott Jewellers Limited

Truscott Jewellers Limited (Registered number: 04660042)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Truscott Jewellers Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: T J Andrews
L W Andrews





REGISTERED OFFICE: 1 College Court
Gloucester
GL1 2NJ





REGISTERED NUMBER: 04660042 (England and Wales)





ACCOUNTANTS: LR Business Services Limited
Old Orchard
Crown East Lane
Lower Broadheath
Worcester
Worcestershire
WR2 6RH

Truscott Jewellers Limited (Registered number: 04660042)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 27,981 36,093

CURRENT ASSETS
Stocks 115,697 117,553
Debtors 5 222,034 173,262
Cash at bank 10,636 17,915
348,367 308,730
CREDITORS
Amounts falling due within one year 6 66,896 35,536
NET CURRENT ASSETS 281,471 273,194
TOTAL ASSETS LESS CURRENT
LIABILITIES

309,452

309,287

CREDITORS
Amounts falling due after more than
one year

7

(38,723

)

(54,632

)

PROVISIONS FOR LIABILITIES (5,317 ) (6,858 )
NET ASSETS 265,412 247,797

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 265,410 247,795
SHAREHOLDERS' FUNDS 265,412 247,797

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

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

Truscott Jewellers Limited (Registered number: 04660042)

Balance Sheet - continued
31 March 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 26 November 2024 and were signed on its behalf by:




T J Andrews - Director



L W Andrews - Director


Truscott Jewellers Limited (Registered number: 04660042)

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

1. STATUTORY INFORMATION

Truscott 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.

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 - 20% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on cost

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.

Truscott Jewellers Limited (Registered number: 04660042)

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

2. ACCOUNTING POLICIES - continued

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.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
COST
At 1 April 2023 - 31,133 49,119 1,612 81,864
Additions 2,428 - - - 2,428
At 31 March 2024 2,428 31,133 49,119 1,612 84,292
DEPRECIATION
At 1 April 2023 - 27,048 17,648 1,075 45,771
Charge for year 364 1,771 7,868 537 10,540
At 31 March 2024 364 28,819 25,516 1,612 56,311
NET BOOK VALUE
At 31 March 2024 2,064 2,314 23,603 - 27,981
At 31 March 2023 - 4,085 31,471 537 36,093

Truscott Jewellers Limited (Registered number: 04660042)

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

4. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Motor
vehicles
£   
COST
At 1 April 2023
and 31 March 2024 47,140
DEPRECIATION
At 1 April 2023 16,204
Charge for year 7,734
At 31 March 2024 23,938
NET BOOK VALUE
At 31 March 2024 23,202
At 31 March 2023 30,936

5. DEBTORS
31.3.24 31.3.23
£    £   
Amounts falling due within one year:
Trade debtors 2,669 4,080
Prepayments and accrued income - 1,347
2,669 5,427

Amounts falling due after more than one year:
Amounts owed by group undertakings 219,365 167,835

Aggregate amounts 222,034 173,262

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans and overdrafts 39,206 10,000
Hire purchase contracts 5,960 5,960
Trade creditors 9,897 6,206
Tax 6,169 6,365
Social security and other taxes 1,155 724
VAT 3,097 5,100
Accrued expenses 1,412 1,181
66,896 35,536

Truscott Jewellers Limited (Registered number: 04660042)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
31.3.24 31.3.23
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 2,443 12,392
Hire purchase contracts 26,280 32,240
38,723 54,632

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.3.24 31.3.23
value: £    £   
2 Ordinary £1 2 2

9. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary undertaking of The Goldman Limited, registered in England. The Goldman Limited is controlled by Mr T J Andrews and Mr L W Andrews.