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VISHAL JEWELLERS LIMITED

Registered Number
04364196
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

VISHAL JEWELLERS LIMITED
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

JOGIYA, Navinchandra
JOGIYA, Vishal

Company Secretary

JOGIYA, Ranjan

Registered Address

44-46 Regent Street
Rugby
CV21 2PS

Registered Number

04364196 (England and Wales)
VISHAL JEWELLERS LIMITED
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets421,64725,295
21,64725,295
Current assets
Stocks5592,058579,900
Debtors6111,612127,842
Cash at bank and on hand87,0003,757
790,670711,499
Creditors amounts falling due within one year7(387,084)(323,851)
Net current assets (liabilities)403,586387,648
Total assets less current liabilities425,233412,943
Creditors amounts falling due after one year8(27,918)(33,018)
Provisions for liabilities9(8,154)(6,133)
Net assets389,161373,792
Capital and reserves
Called up share capital100100
Profit and loss account389,061373,692
Shareholders' funds389,161373,792
The financial statements were approved and authorised for issue by the Board of Directors on 31 January 2025, and are signed on its behalf by:
JOGIYA, Vishal
Director
Registered Company No. 04364196
VISHAL JEWELLERS LIMITED
Notes to the Financial Statements
for the year ended 30 April 2024

1.Accounting policies
Statutory information
Vishal 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.
Statement of compliance
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 policy
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Current 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.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:
Stocks and work in progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.Average number of employees

20242023
Average number of employees during the year22
3.Deferred tax
Increases in the UK Corporation tax rate from 19% to 25% (19% effective from 1 April 2017, and 25% effective from 1 April 2023) have been substantively enacted. This will impact the company's future tax charge accordingly. The value of the deferred tax assets at the balance sheet date has been calculated using the applicable rate when the asset is expected to be realised.
4.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Total

£££
Cost or valuation
At 01 May 2314,13835,26149,399
At 30 April 2414,13835,26149,399
Depreciation and impairment
At 01 May 2313,52610,57824,104
Charge for year1233,5253,648
At 30 April 2413,64914,10327,752
Net book value
At 30 April 2448921,15821,647
At 30 April 2361224,68325,295
5.Stocks

2024

2023

££
Finished goods592,058579,900
Total592,058579,900
6.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables4,35020,580
Other debtors107,262107,262
Total111,612127,842
7.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables273,373209,164
Bank borrowings and overdrafts6,0209,549
Taxation and social security44,36041,961
Other creditors61,74161,741
Accrued liabilities and deferred income1,5901,436
Total387,084323,851
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.
8.Creditors: amounts due after one year

2024

2023

££
Bank borrowings and overdrafts27,91833,018
Total27,91833,018
9.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)8,1546,133
Total8,1546,133