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REGISTERED NUMBER: 02589427 (England and Wales)















JEWELSOUND LIMITED

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST MAY 2024






JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JEWELSOUND LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31ST MAY 2024







DIRECTORS: Mrs S J Sargent
C I Sargent





SECRETARY: Mrs S J Sargent





REGISTERED OFFICE: 10 Oriel Road
Sheffield
South Yorkshire
S10 3TF





REGISTERED NUMBER: 02589427 (England and Wales)





ACCOUNTANTS: Ian R Collins & Co
The Bridge House
Mill Lane
Dronfield
Derbyshire
S18 2XL

JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

BALANCE SHEET
31ST MAY 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 974,990 950,408
Investments 5 100 100
Investment property 6 562,689 562,689
1,537,779 1,513,197

CURRENT ASSETS
Debtors 7 404,259 400,988
Cash at bank 358,247 373,835
762,506 774,823
CREDITORS
Amounts falling due within one
year

8

(14,923

)

(19,029

)
NET CURRENT ASSETS 747,583 755,794
TOTAL ASSETS LESS
CURRENT LIABILITIES

2,285,362

2,268,991

PROVISIONS FOR LIABILITIES - (20,719 )
NET ASSETS 2,285,362 2,248,272

JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

BALANCE SHEET - continued
31ST MAY 2024

2024 2023
Notes £    £   
CAPITAL AND RESERVES
Called up share capital 30,250 30,250
Revaluation reserve 9 196,760 196,760
Capital redemption reserve 324,750 324,750
Retained earnings 1,733,602 1,696,512
2,285,362 2,248,272

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

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

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 18th February 2025 and were signed on its behalf by:




C I Sargent - Director


JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31ST MAY 2024

1. STATUTORY INFORMATION

Jewelsound 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 25% on reducing balance

Property in the course of construction is valued at cost and on completion is revalued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.


JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

2. ACCOUNTING POLICIES - continued
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.

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

Leases
Rental income from operating leases is recognized on a straight line basis over the terms of the relevant lease.Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset an recognised on a straight line basis over the term of the lease.

3. EMPLOYEES AND DIRECTORS

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

JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1st June 2023 950,408 23,177 973,585
Additions 24,582 - 24,582
At 31st May 2024 974,990 23,177 998,167
DEPRECIATION
At 1st June 2023
and 31st May 2024 - 23,177 23,177
NET BOOK VALUE
At 31st May 2024 974,990 - 974,990
At 31st May 2023 950,408 - 950,408

The freehold property relates to property in construction at a cost of £974,990 as at 31st May 2024


5. FIXED ASSET INVESTMENTS

The Company holds 100% of Melorhall Limited a dormant company.The aggregate amount of capital and reserves for the financial year to 2024 are £100 (2023-£100)

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st June 2023
and 31st May 2024 562,689
NET BOOK VALUE
At 31st May 2024 562,689
At 31st May 2023 562,689

JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

6. INVESTMENT PROPERTY - continued

Fair value at 31st May 2024 is represented by:
£   
Valuation in 2023 562,689

If Investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 347,171 347,171

The investment property was valued on at a fair value basis on 31st May 2024 by the directors .

7. DEBTORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR
2024 2023
£    £   
Other debtors 404,259 400,988

8. CREDITORS: AMOUNTS FALLING DUE WITHIN
ONE YEAR
2024 2023
£    £   
Trade creditors 3,659 4,939
Amounts owed to group undertakings 100 100
Taxation and social security 3,840 8,678
Other creditors 7,324 5,312
14,923 19,029

9. RESERVES
Revaluation
reserve
£   
At 1st June 2023
and 31st May 2024 196,760

JEWELSOUND LIMITED (REGISTERED NUMBER: 02589427)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31ST MAY 2024

10. RELATED PARTY DISCLOSURES

During the year Redmires Building Services Limited a company controlled by C I Sargent provided construction services to the company at a cost of £24,852 (2023-£9,600)

11. ULTIMATE CONTROLLING PARTY

The company is under the control of the directors