Silverfin false false 29/02/2024 01/03/2023 29/02/2024 B Delaney 01/04/2010 N D Lyons 07/11/2002 27 November 2024 The principal activity of the Company during the financial year was that of wholesalers of body jewellery and tattoo supplies. 04584896 2024-02-29 04584896 bus:Director1 2024-02-29 04584896 bus:Director2 2024-02-29 04584896 2023-02-28 04584896 core:CurrentFinancialInstruments 2024-02-29 04584896 core:CurrentFinancialInstruments 2023-02-28 04584896 core:Non-currentFinancialInstruments 2024-02-29 04584896 core:Non-currentFinancialInstruments 2023-02-28 04584896 core:ShareCapital 2024-02-29 04584896 core:ShareCapital 2023-02-28 04584896 core:RetainedEarningsAccumulatedLosses 2024-02-29 04584896 core:RetainedEarningsAccumulatedLosses 2023-02-28 04584896 core:LeaseholdImprovements 2023-02-28 04584896 core:PlantMachinery 2023-02-28 04584896 core:Vehicles 2023-02-28 04584896 core:FurnitureFittings 2023-02-28 04584896 core:OfficeEquipment 2023-02-28 04584896 core:ComputerEquipment 2023-02-28 04584896 core:LeaseholdImprovements 2024-02-29 04584896 core:PlantMachinery 2024-02-29 04584896 core:Vehicles 2024-02-29 04584896 core:FurnitureFittings 2024-02-29 04584896 core:OfficeEquipment 2024-02-29 04584896 core:ComputerEquipment 2024-02-29 04584896 core:CostValuation 2023-02-28 04584896 core:AdditionsToInvestments 2024-02-29 04584896 core:CostValuation 2024-02-29 04584896 core:ImmediateParent core:Non-currentFinancialInstruments 2024-02-29 04584896 core:ImmediateParent core:Non-currentFinancialInstruments 2023-02-28 04584896 2023-03-01 2024-02-29 04584896 bus:FilletedAccounts 2023-03-01 2024-02-29 04584896 bus:SmallEntities 2023-03-01 2024-02-29 04584896 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 04584896 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 04584896 bus:Director1 2023-03-01 2024-02-29 04584896 bus:Director2 2023-03-01 2024-02-29 04584896 core:PlantMachinery 2023-03-01 2024-02-29 04584896 core:Vehicles 2023-03-01 2024-02-29 04584896 core:FurnitureFittings 2023-03-01 2024-02-29 04584896 core:OfficeEquipment 2023-03-01 2024-02-29 04584896 core:ComputerEquipment core:TopRangeValue 2023-03-01 2024-02-29 04584896 2022-03-01 2023-02-28 04584896 core:LeaseholdImprovements 2023-03-01 2024-02-29 04584896 core:ComputerEquipment 2023-03-01 2024-02-29 04584896 core:Non-currentFinancialInstruments 2023-03-01 2024-02-29 iso4217:GBP xbrli:pure

Company No: 04584896 (England and Wales)

BODY JEWELLERY LTD

Unaudited Financial Statements
For the financial year ended 29 February 2024
Pages for filing with the registrar

BODY JEWELLERY LTD

Unaudited Financial Statements

For the financial year ended 29 February 2024

Contents

BODY JEWELLERY LTD

BALANCE SHEET

As at 29 February 2024
BODY JEWELLERY LTD

BALANCE SHEET (continued)

As at 29 February 2024
Note 2024 2023
£ £
Fixed assets
Tangible assets 3 338,235 289,664
Investments 4 6,993 0
345,228 289,664
Current assets
Stocks 5 1,250,000 1,176,202
Debtors 6 538,207 556,208
Cash at bank and in hand 1,319,395 1,371,348
3,107,602 3,103,758
Creditors: amounts falling due within one year 7 ( 939,092) ( 869,234)
Net current assets 2,168,510 2,234,524
Total assets less current liabilities 2,513,738 2,524,188
Creditors: amounts falling due after more than one year 8 ( 377,832) ( 537,831)
Provision for liabilities ( 47,739) ( 28,393)
Net assets 2,088,167 1,957,964
Capital and reserves
Called-up share capital 100 100
Profit and loss account 2,088,067 1,957,864
Total shareholder's funds 2,088,167 1,957,964

For the financial year ending 29 February 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The financial statements of Body Jewellery Ltd (registered number: 04584896) were approved and authorised for issue by the Board of Directors on 27 November 2024. They were signed on its behalf by:

B Delaney
Director
BODY JEWELLERY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
BODY JEWELLERY LTD

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 29 February 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Body Jewellery Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 19 Factory Road Upton, Poole, BH16 5SN, United Kingdom. The principal place of business is 19 Factory Road, Upton, Poole, Dorset, BH16 5SN.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer.

Employee benefits

Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on tax rates and laws substantively enacted at the balance sheet date. Deferred tax assets and liabilities are not discounted.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a [straight-line, reducing balance] basis over its expected useful life, as follows:

Leasehold improvements not depreciated
Plant and machinery 25 % reducing balance
Vehicles 25 % reducing balance
Fixtures and fittings 25 % reducing balance
Office equipment 25 % reducing balance
Computer equipment 3 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets receivable within one year, such as trade debtors and bank balances, are measured at transaction price less any impairment.

Basic financial assets receivable within more than one year are measured at amortised cost less any impairment.

Financial assets are derecognised when and only when the contractual rights to the cash flows from the financial asset expire or are settled, or the Company transfers to another party substantially all of the risks and rewards of ownership of the financial asset, or the Company, despite having retained some, but not all, significant risks and rewards of ownership, has transferred control of the asset to another party.

Basic financial liabilities
Basic financial liabilities that have no stated interest rate and are payable within one year, such as trade creditors, are measured at transaction price.

Other basic financial liabilities are measured at amortised cost.

Financial liabilities are derecognised when the company’s contractual obligations expire or are discharged or cancelled.

Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) as a result of a past event, it is probable that the Company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).

When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 35 36

3. Tangible assets

Leasehold improve-
ments
Plant and machinery Vehicles Fixtures and fittings Office equipment Computer equipment Total
£ £ £ £ £ £ £
Cost
At 01 March 2023 140,226 22,356 32,979 113,998 77,893 31,692 419,144
Additions 7,049 2,665 49,565 21,191 16,436 42,026 138,932
Disposals 0 0 ( 32,979) 0 0 0 ( 32,979)
At 29 February 2024 147,275 25,021 49,565 135,189 94,329 73,718 525,097
Accumulated depreciation
At 01 March 2023 0 7,450 6,871 43,741 56,932 14,486 129,480
Charge for the financial year 0 4,212 12,391 20,603 6,303 20,744 64,253
Disposals 0 0 ( 6,871) 0 0 0 ( 6,871)
At 29 February 2024 0 11,662 12,391 64,344 63,235 35,230 186,862
Net book value
At 29 February 2024 147,275 13,359 37,174 70,845 31,094 38,488 338,235
At 28 February 2023 140,226 14,906 26,108 70,257 20,961 17,206 289,664

4. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 March 2023 0 0
Additions 6,993 6,993
At 29 February 2024 6,993 6,993
Carrying value at 29 February 2024 6,993 6,993
Carrying value at 28 February 2023 0 0

5. Stocks

2024 2023
£ £
Stocks 1,250,000 1,176,202

6. Debtors

2024 2023
£ £
Trade debtors 48,506 0
Other debtors 489,701 556,208
538,207 556,208

7. Creditors: amounts falling due within one year

2024 2023
£ £
Bank loans 158,000 158,001
Trade creditors 214,112 200,408
Taxation and social security 456,907 428,518
Other creditors 110,073 82,307
939,092 869,234

8. Creditors: amounts falling due after more than one year

2024 2023
£ £
Bank loans 289,667 447,666
Amounts owed to Parent undertakings 88,165 90,165
377,832 537,831

There are no amounts included above in respect of which any security has been given by the small entity.

9. Related party transactions

Transactions with the entity's directors

2024 2023
£ £
Directors' loan account 233,483 276,644

Interest has been charges at the HMRC rate of 2.25%

10. Ultimate controlling party

Parent Company:

BBJ Limited