Caseware UK (AP4) 2023.0.135 2023.0.135 2024-10-312024-10-31true2023-11-01falseNo description of principal activity1010trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 01359915 2023-11-01 2024-10-31 01359915 2022-11-01 2023-10-31 01359915 2024-10-31 01359915 2023-10-31 01359915 c:Director1 2023-11-01 2024-10-31 01359915 d:Buildings d:LongLeaseholdAssets 2023-11-01 2024-10-31 01359915 d:Buildings d:LongLeaseholdAssets 2024-10-31 01359915 d:Buildings d:LongLeaseholdAssets 2023-10-31 01359915 d:FurnitureFittings 2023-11-01 2024-10-31 01359915 d:FurnitureFittings 2024-10-31 01359915 d:FurnitureFittings 2023-10-31 01359915 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01359915 d:OwnedOrFreeholdAssets 2023-11-01 2024-10-31 01359915 d:CurrentFinancialInstruments 2024-10-31 01359915 d:CurrentFinancialInstruments 2023-10-31 01359915 d:CurrentFinancialInstruments d:WithinOneYear 2024-10-31 01359915 d:CurrentFinancialInstruments d:WithinOneYear 2023-10-31 01359915 d:ShareCapital 2024-10-31 01359915 d:ShareCapital 2023-10-31 01359915 d:SharePremium 2024-10-31 01359915 d:SharePremium 2023-10-31 01359915 d:RetainedEarningsAccumulatedLosses 2024-10-31 01359915 d:RetainedEarningsAccumulatedLosses 2023-10-31 01359915 c:FRS102 2023-11-01 2024-10-31 01359915 c:AuditExempt-NoAccountantsReport 2023-11-01 2024-10-31 01359915 c:FullAccounts 2023-11-01 2024-10-31 01359915 c:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 01359915 d:WithinOneYear 2024-10-31 01359915 d:WithinOneYear 2023-10-31 01359915 d:BetweenOneFiveYears 2024-10-31 01359915 d:BetweenOneFiveYears 2023-10-31 01359915 d:MoreThanFiveYears 2024-10-31 01359915 d:MoreThanFiveYears 2023-10-31 01359915 2 2023-11-01 2024-10-31 01359915 e:PoundSterling 2023-11-01 2024-10-31 iso4217:GBP xbrli:pure

Registered number: 01359915









C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 

CONTENTS



Page
Balance Sheet
 
1 - 2
Notes to the Financial Statements
 
3 - 10


 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
REGISTERED NUMBER: 01359915

BALANCE SHEET
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
35,522
39,472

  
35,522
39,472

Current assets
  

Stocks
 5 
3,594,160
3,822,499

Debtors: amounts falling due within one year
 6 
2,133,766
2,127,388

Cash at bank and in hand
 7 
803,414
710,754

  
6,531,340
6,660,641

Creditors: amounts falling due within one year
 8 
(539,999)
(647,795)

Net current assets
  
 
 
5,991,341
 
 
6,012,846

Total assets less current liabilities
  
6,026,863
6,052,318

Provisions for liabilities
  

Deferred tax
  
(9,172)
(9,444)

  
 
 
(9,172)
 
 
(9,444)

Net assets
  
6,017,691
6,042,874

Page 1

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
REGISTERED NUMBER: 01359915
    
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2024

2024
2023
£
£

Capital and reserves
  

Called up share capital 
  
264
264

Share premium account
  
78,415
78,415

Profit and loss account
  
5,939,012
5,964,195

  
6,017,691
6,042,874


The director considers 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 director acknowledges his 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 profit and loss account 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 on 11 February 2025.




B Ross-Field
Director

The notes on pages 3 to 10 form part of these financial statements.
Page 2

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

C.N. Ross-Field Manufacturing Jewellers Limited is a private company, limited by shares and incorporated in England and Wales, United Kingdom, with a registration number 01359915. The address of the registered office is 12 Hatton Garden, London, EC1N 8AN. The nature of the company's operations and principal activities are that of wholesalers of raw materials and manufactured jewellery.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies.

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

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised at the point of sale when either an invoice is issued or consideration received on the sale of goods. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

 
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.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.4

Interest income

Interest income is recognised in profit or loss using the effective interest method.

Page 3

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 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 Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.6

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:

Long-term leasehold property
-
Over the period of the lease
Fixtures and fittings
-
10% Reducing balance

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.

 
2.7

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 balance sheet 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.

 
2.8

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)

 
2.9

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.10

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.11

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.12

Financial instruments

Financial instruments are recognised in the Company's Balance Sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

Page 5

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

Financial liabilities

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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The average monthly number of employees, including directors, during the year was 10 (2023 - 10).

Page 6

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Long-term leasehold property
Fixtures and fittings
Total

£
£
£



Cost or valuation


At 1 November 2023
34,076
269,175
303,251


Disposals
(34,076)
-
(34,076)



At 31 October 2024

-
269,175
269,175



Depreciation


At 1 November 2023
34,074
229,706
263,780


Charge for the year on owned assets
-
3,947
3,947


Disposals
(34,074)
-
(34,074)



At 31 October 2024

-
233,653
233,653



Net book value



At 31 October 2024
-
35,522
35,522



At 31 October 2023
2
39,470
39,472

Page 7

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

5.


Stocks

2024
2023
£
£

Raw materials and consumables
2,436,953
2,699,021

Finished goods and goods for resale
1,157,207
1,123,478

3,594,160
3,822,499



6.


Debtors

2024
2023
£
£


Trade debtors
688,721
803,893

Amounts owed by group undertakings
1,411,383
1,272,580

Other debtors
12,841
11,768

Prepayments and accrued income
20,821
39,147

2,133,766
2,127,388



7.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
803,414
710,754

803,414
710,754


Page 8

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
115,544
123,724

Amounts owed to group undertakings
248,732
94,252

Corporation tax
-
12,646

Other taxation and social security
13,577
15,427

Other creditors
11,972
280,062

Accruals and deferred income
150,174
121,684

539,999
647,795



9.


Contingent liabilities

The company is part of a group Value Added Tax (VAT) registration scheme. As such the company is liable for the group VAT liability. At the year end there was a VAT liability due of £81,852 (2023: £124,187) under this scheme.  


10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company  in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £3,427 (2023 - £3,861) . Contributions totalling £669 (2023 - £Nil) were payable to the fund at the balance sheet date and are included in creditors.


11.


Commitments under operating leases

At 31 October 2024 the Company had future minimum lease payments due under non-cancellable operating leases for each of the following periods:

2024
2023
£
£


Not later than 1 year
142,000
146,214

Later than 1 year and not later than 5 years
568,000
300,000

Later than 5 years
474,250
281,250

1,184,250
727,464

Page 9

 
C.N. ROSS-FIELD MANUFACTURING JEWELLERS LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

12.


Related party transactions

During the year transactions with the following related parties occured: 


Balance due from/(to) 2024
Sales
Purchases
Mgmt charges
Balance due from/(to) 2023
£
£
£
£
£

Other related parties
1,162,652
1,483,616
6,370
102,400
1,182,328
1,162,652
1,483,616
6,370
102,400
1,182,328


13.


Controlling party

The ultimate parent undertaking is C N Ross-Field Holdings Limited, a company incorporated in England and Wales. 
The ultimate controlling party is the Ross-Field family by virtue of their shareholding in the ultimate parent company.
 
Page 10