Caseware UK (AP4) 2023.0.135 2023.0.135 2024-04-302024-04-302023-05-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.falseNo description of principal activity99truetrue SC266963 2023-05-01 2024-04-30 SC266963 2022-05-01 2023-04-30 SC266963 2024-04-30 SC266963 2023-04-30 SC266963 c:Director1 2023-05-01 2024-04-30 SC266963 c:Director3 2023-05-01 2024-04-30 SC266963 c:RegisteredOffice 2023-05-01 2024-04-30 SC266963 d:MotorVehicles 2023-05-01 2024-04-30 SC266963 d:MotorVehicles 2024-04-30 SC266963 d:MotorVehicles 2023-04-30 SC266963 d:MotorVehicles d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC266963 d:FurnitureFittings 2023-05-01 2024-04-30 SC266963 d:FurnitureFittings 2024-04-30 SC266963 d:FurnitureFittings 2023-04-30 SC266963 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC266963 d:ComputerEquipment 2023-05-01 2024-04-30 SC266963 d:ComputerEquipment 2024-04-30 SC266963 d:ComputerEquipment 2023-04-30 SC266963 d:ComputerEquipment d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC266963 d:OwnedOrFreeholdAssets 2023-05-01 2024-04-30 SC266963 d:CurrentFinancialInstruments 2024-04-30 SC266963 d:CurrentFinancialInstruments 2023-04-30 SC266963 d:Non-currentFinancialInstruments 2024-04-30 SC266963 d:Non-currentFinancialInstruments 2023-04-30 SC266963 d:CurrentFinancialInstruments d:WithinOneYear 2024-04-30 SC266963 d:CurrentFinancialInstruments d:WithinOneYear 2023-04-30 SC266963 d:Non-currentFinancialInstruments d:AfterOneYear 2024-04-30 SC266963 d:Non-currentFinancialInstruments d:AfterOneYear 2023-04-30 SC266963 d:ShareCapital 2024-04-30 SC266963 d:ShareCapital 2023-04-30 SC266963 d:CapitalRedemptionReserve 2024-04-30 SC266963 d:CapitalRedemptionReserve 2023-04-30 SC266963 d:RetainedEarningsAccumulatedLosses 2024-04-30 SC266963 d:RetainedEarningsAccumulatedLosses 2023-04-30 SC266963 c:OrdinaryShareClass1 2023-05-01 2024-04-30 SC266963 c:OrdinaryShareClass1 2024-04-30 SC266963 c:OrdinaryShareClass1 2023-04-30 SC266963 c:OrdinaryShareClass2 2023-05-01 2024-04-30 SC266963 c:OrdinaryShareClass2 2024-04-30 SC266963 c:OrdinaryShareClass2 2023-04-30 SC266963 c:FRS102 2023-05-01 2024-04-30 SC266963 c:AuditExempt-NoAccountantsReport 2023-05-01 2024-04-30 SC266963 c:FullAccounts 2023-05-01 2024-04-30 SC266963 c:PrivateLimitedCompanyLtd 2023-05-01 2024-04-30 SC266963 6 2023-05-01 2024-04-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: SC266963










JESSOP JEWELLERS LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

 
JESSOP JEWELLERS LIMITED
 

COMPANY INFORMATION


DIRECTORS
Mr C C Jessop 
Mrs S Jessop 




REGISTERED NUMBER
SC266963



REGISTERED OFFICE
EQ Accountants Limited
Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH




ACCOUNTANTS
EQ Accountants Limited
Chartered Accountants

Pentland House

Saltire Centre

Glenrothes

Fife

KY6 2AH





 
JESSOP JEWELLERS LIMITED
REGISTERED NUMBER: SC266963

STATEMENT OF FINANCIAL POSITION
AS AT 30 APRIL 2024

2024
2023
£
£

Fixed assets
  

Tangible assets
 4 
128,121
56,582

Investments
 5 
1,800
1,800

  
129,921
58,382

Current assets
  

Stocks
  
367,820
325,773

Debtors: amounts falling due within one year
 6 
24,318
12,811

Cash at bank and in hand
  
177,007
191,834

  
569,145
530,418

Creditors: amounts falling due within one year
 7 
(150,016)
(122,086)

Net current assets
  
 
 
419,129
 
 
408,332

Total assets less current liabilities
  
549,050
466,714

Creditors: amounts falling due after more than one year
 8 
(2,166)
(2,965)

Provisions for liabilities
  

Deferred tax
  
(30,818)
(13,348)

  
 
 
(30,818)
 
 
(13,348)

Net assets
  
516,066
450,401


Capital and reserves
  

Called up share capital 
 9 
650
650

Capital redemption reserve
  
350
350

Profit and loss account
  
515,066
449,401

  
516,066
450,401

Page 1

 
JESSOP JEWELLERS LIMITED
REGISTERED NUMBER: SC266963

STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 APRIL 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mrs S Jessop
Director

Date: 13 January 2025

The notes on pages 3 to 7 form part of these financial statements.
Page 2

 
JESSOP JEWELLERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

1.


General information

Jessop Jewellers Limited is limited by shares and incorporated in Scotland. The address of the registered office is Pentland House, Saltire Centre, Glenrothes, Fife, KY6 2AH.
The financial statements are presented in Sterling which is the functional currency of the company and rounded to the nearest £.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before turnover is recognised:

Sale of goods

Turnover from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of turnover can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.3

Operating leases: the Company as lessee

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

 
2.4

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.

Page 3

 
JESSOP JEWELLERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.5

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
JESSOP JEWELLERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

2.Accounting policies (continued)

 
2.7

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Motor vehicles
-
25%
Fixtures and fittings
-
15%
Computer equipment
-
33.33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.8

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 
2.11

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Page 5

 
JESSOP JEWELLERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

3.


Employees

The average monthly number of employees, including directors, during the year was 9 (2023 - 9).


4.


Tangible fixed assets





Motor vehicles
Fixtures and fittings
Computer equipment
Total

£
£
£
£



Cost or valuation


At 1 May 2023
46,083
272,894
74,869
393,846


Additions
60,597
53,909
2,218
116,724


Disposals
(46,083)
-
-
(46,083)



At 30 April 2024

60,597
326,803
77,087
464,487



Depreciation


At 1 May 2023
22,322
249,927
65,015
337,264


Charge for the year on owned assets
12,080
7,496
3,828
23,404


Disposals
(24,302)
-
-
(24,302)



At 30 April 2024

10,100
257,423
68,843
336,366



Net book value



At 30 April 2024
50,497
69,380
8,244
128,121



At 30 April 2023
23,761
22,967
9,854
56,582


5.


Fixed asset investments





Unlisted investments

£



Cost or valuation


At 1 May 2023
1,800



At 30 April 2024
1,800




Page 6

 
JESSOP JEWELLERS LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024

6.


Debtors

2024
2023
£
£


Other debtors
385
-

Prepayments and accrued income
23,933
12,811

24,318
12,811



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
78,021
57,765

Other taxation and social security
49,224
45,724

Other creditors
10,732
11,833

Accruals and deferred income
12,039
6,764

150,016
122,086



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Accruals and deferred income
2,166
2,965



9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



500 (2023 - 500) Ordinary shares of £1.00 each
500
500
150 (2023 - 150) Ordinary 'A' shares of £1.00 each
150
150

650

650



10.


Controlling party

The utlimate controlling party is Smykker Corp Ltd, a company incorporated in Scotland; Registered number: SC684261. The registered office is Pentland House, Saltire Centre, Glenrothes, KY6 2AH.


Page 7