Caseware UK (AP4) 2023.0.135 2023.0.135 2024-03-312024-03-31falsefalse2023-04-01No description of principal activity77falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 07558696 2023-04-01 2024-03-31 07558696 2022-04-01 2023-03-31 07558696 2024-03-31 07558696 2023-03-31 07558696 c:Director1 2023-04-01 2024-03-31 07558696 d:Buildings d:LongLeaseholdAssets 2023-04-01 2024-03-31 07558696 d:Buildings d:LongLeaseholdAssets 2024-03-31 07558696 d:Buildings d:LongLeaseholdAssets 2023-03-31 07558696 d:PlantMachinery 2023-04-01 2024-03-31 07558696 d:PlantMachinery 2024-03-31 07558696 d:PlantMachinery 2023-03-31 07558696 d:Goodwill 2023-04-01 2024-03-31 07558696 d:Goodwill 2024-03-31 07558696 d:Goodwill 2023-03-31 07558696 d:CurrentFinancialInstruments 2024-03-31 07558696 d:CurrentFinancialInstruments 2023-03-31 07558696 d:Non-currentFinancialInstruments 2024-03-31 07558696 d:Non-currentFinancialInstruments 2023-03-31 07558696 d:CurrentFinancialInstruments d:WithinOneYear 2024-03-31 07558696 d:CurrentFinancialInstruments d:WithinOneYear 2023-03-31 07558696 d:Non-currentFinancialInstruments d:AfterOneYear 2024-03-31 07558696 d:Non-currentFinancialInstruments d:AfterOneYear 2023-03-31 07558696 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-03-31 07558696 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-03-31 07558696 d:ShareCapital 2024-03-31 07558696 d:ShareCapital 2023-03-31 07558696 d:RetainedEarningsAccumulatedLosses 2024-03-31 07558696 d:RetainedEarningsAccumulatedLosses 2023-03-31 07558696 c:OrdinaryShareClass1 2023-04-01 2024-03-31 07558696 c:OrdinaryShareClass1 2024-03-31 07558696 c:OrdinaryShareClass1 2023-03-31 07558696 c:FRS102 2023-04-01 2024-03-31 07558696 c:AuditExempt-NoAccountantsReport 2023-04-01 2024-03-31 07558696 c:FullAccounts 2023-04-01 2024-03-31 07558696 c:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 07558696 2 2023-04-01 2024-03-31 07558696 e:PoundSterling 2023-04-01 2024-03-31 iso4217:GBP xbrli:shares xbrli:pure
Registered number: 07558696














S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 31 MARCH 2024

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
REGISTERED NUMBER: 07558696

BALANCE SHEET
AS AT 31 MARCH 2024

2024
2023
£
£

Fixed assets
  

Intangible assets
 3 
1
1

Tangible assets
 4 
2
2

  
3
3

Current assets
  

Stocks
 5 
598,000
650,000

Debtors: amounts falling due within one year
 6 
228,326
283,792

Cash at bank and in hand
  
124,129
151,812

  
950,455
1,085,604

Creditors: amounts falling due within one year
 7 
(749,436)
(852,263)

Net current assets
  
 
 
201,019
 
 
233,341

Total assets less current liabilities
  
201,022
233,344

Creditors: amounts falling due after more than one year
 8 
(14,081)
(23,904)

  

Net assets
  
£186,941
£209,440


Capital and reserves
  

Called up share capital 
 10 
3
3

Profit and loss account
  
186,938
209,437

  
£186,941
£209,440


Page 1

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
REGISTERED NUMBER: 07558696

BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 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 on 11 March 2025.




................................................
Mr P Kirkland
Director

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

Page 2

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1.


General information

S.H. Cutting Jewellers (Ramsgate) Limited is a private limited company by shares incorporated in England and Wales. The company registration number is 07558696.
The registered office of the company is Henwood House, Henwood, Ashford, Kent, TN24 8DH. The principal place of business is 33 Queen Street, Ramsgate, Kent, England, CT11 9DZ.

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 following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue 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 revenue is recognised:

Sale of goods

Revenue 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 revenue 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

Intangible assets

Goodwill

Goodwill represents the difference between amounts paid on the cost of a business combination and the acquirer’s interest in the fair value of its identifiable assets and liabilities of the acquiree at the date of acquisition. Subsequent to initial recognition, goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight-line basis to the Statement of income and retained earnings over its useful economic life.

Other intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Page 3

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.4

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, using the straight-line method.

Depreciation is provided on the following basis:

Long-term leasehold property
-
10% Straight line basis
Plant and machinery
-
25% Straight line basis

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.

 
2.5

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.

 
2.6

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.

 
2.7

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.

 
2.8

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.

 
2.9

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

Page 4

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

2.Accounting policies (continued)

 
2.10

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.

 
2.11

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.

 
2.12

Interest income

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

 
2.13

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.14

Taxation

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

Page 5

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

3.


Intangible assets




Goodwill

£



Cost


At 1 April 2023
410,000



At 31 March 2024

410,000



Amortisation


At 1 April 2023
409,999



At 31 March 2024

409,999



Net book value



At 31 March 2024
£1



At 31 March 2023
£1



Page 6

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

4.


Tangible fixed assets





Long-term leasehold property
Plant and machinery
Total

£
£
£



Cost or valuation


At 1 April 2023
61,626
48,138
109,764



At 31 March 2024

61,626
48,138
109,764



Depreciation


At 1 April 2023
61,625
48,137
109,762



At 31 March 2024

61,625
48,137
109,762



Net book value



At 31 March 2024
£1
£1
£2



At 31 March 2023
£1
£1
£2


5.


Stocks

2024
2023
£
£

Stock for resale
598,000
650,000

£598,000
£650,000


Page 7

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

6.


Debtors

2024
2023
£
£


Other debtors
£228,326
£283,792



7.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
8,000
7,968

Trade creditors
1,618
3,157

Amounts owed to group undertakings
631,865
729,530

Corporation tax
85,878
90,016

Other taxation and social security
16,940
16,357

Other creditors
135
235

Accruals and deferred income
5,000
5,000

£749,436
£852,263



8.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
14,081
23,904

£14,081
£23,904


Page 8

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

9.


Loans


Analysis of the maturity of loans is given below:


2024
2023
£
£

Amounts falling due within one year

Bank loans
8,000
7,968


8,000
7,968

Amounts falling due 1-2 years

Bank loans
14,081
23,904


14,081
23,904



£22,081
£31,872



10.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



3 (2023 -3) Ordinary shares of £1.00 each
£3
£3



11.


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 £2,464 (2023 - £2,686). 

Page 9

 
S.H. CUTTING JEWELLERS (RAMSGATE) LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

12.


Related party transactions

The company paid rent for the property from which it operates totalling £25,000 (2023: £25,000) to Wickbrand Limited. The amount due to Wickbrand Limited at the balance sheet date was £631,865 (2023 - £729,530). Wickbrand Limited is the ultimate controlling party. 


13.
Ultimate parent undertaking and controlling party

The ultimate parent undertaking is Wickbrand Limited, a company incorporated in England and Wales.
Mr P and Mrs S Kirkland are the ultimate controlling party of the company by controlling, directly or indirectly, 86% of the issued share capital of the ultimate parent undertaking..
The company is exempt from the requirement of preparing consolidated financial statements as it is a subsidiary undertaking of a small group under section 383 of the Companies Act 2006.


Page 10