Autumn and May Jewellery Designs Ltd 10208588 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is retail sale of watches and jewellery in specialised stores Digita Accounts Production Advanced 6.30.9574.0 true true 10208588 2023-07-01 2024-06-30 10208588 2024-06-30 10208588 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2024-06-30 10208588 core:RetainedEarningsAccumulatedLosses 2024-06-30 10208588 core:ShareCapital 2024-06-30 10208588 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2024-06-30 10208588 core:CurrentFinancialInstruments 2024-06-30 10208588 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 10208588 core:Non-currentFinancialInstruments 2024-06-30 10208588 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 10208588 core:Goodwill 2024-06-30 10208588 core:OtherResidualIntangibleAssets 2024-06-30 10208588 core:FurnitureFittingsToolsEquipment 2024-06-30 10208588 core:LandBuildings 2024-06-30 10208588 core:MotorVehicles 2024-06-30 10208588 bus:SmallEntities 2023-07-01 2024-06-30 10208588 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 10208588 bus:FilletedAccounts 2023-07-01 2024-06-30 10208588 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 10208588 bus:RegisteredOffice 2023-07-01 2024-06-30 10208588 bus:Director1 2023-07-01 2024-06-30 10208588 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-07-01 2024-06-30 10208588 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 10208588 core:Goodwill 2023-07-01 2024-06-30 10208588 core:OtherResidualIntangibleAssets 2023-07-01 2024-06-30 10208588 core:ComputerEquipment 2023-07-01 2024-06-30 10208588 core:FurnitureFittings 2023-07-01 2024-06-30 10208588 core:FurnitureFittingsToolsEquipment 2023-07-01 2024-06-30 10208588 core:LandBuildings 2023-07-01 2024-06-30 10208588 core:MotorVehicles 2023-07-01 2024-06-30 10208588 countries:England 2023-07-01 2024-06-30 10208588 2023-06-30 10208588 core:Goodwill 2023-06-30 10208588 core:OtherResidualIntangibleAssets 2023-06-30 10208588 core:FurnitureFittingsToolsEquipment 2023-06-30 10208588 core:LandBuildings 2023-06-30 10208588 core:MotorVehicles 2023-06-30 10208588 2022-07-01 2023-06-30 10208588 2023-06-30 10208588 bus:OrdinaryShareClass1 bus:Non-cumulativeShares 2023-06-30 10208588 core:RetainedEarningsAccumulatedLosses 2023-06-30 10208588 core:ShareCapital 2023-06-30 10208588 core:HirePurchaseContracts core:Non-currentFinancialInstruments 2023-06-30 10208588 core:CurrentFinancialInstruments 2023-06-30 10208588 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 10208588 core:Non-currentFinancialInstruments 2023-06-30 10208588 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 10208588 core:Goodwill 2023-06-30 10208588 core:OtherResidualIntangibleAssets 2023-06-30 10208588 core:FurnitureFittingsToolsEquipment 2023-06-30 10208588 core:LandBuildings 2023-06-30 10208588 core:MotorVehicles 2023-06-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 10208588

Autumn and May Jewellery Designs Ltd

Unaudited Filleted Financial Statements

for the Year Ended 30 June 2024

 

Autumn and May Jewellery Designs Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Autumn and May Jewellery Designs Ltd

Company Information

Director

Mr Isac Manoj

Registered office

5 Carrwood Park Selby Road
Swillington Common
Leeds
Yorkshire
LS15 4LG

Accountants

Clever Accounts Limited
Brookfield Court
Selby Road
Leeds
LS25 1NB

 

Autumn and May Jewellery Designs Ltd

(Registration number: 10208588)
Balance Sheet as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

900

1,800

Tangible assets

5

39,439

50,353

 

40,339

52,153

Current assets

 

Stocks

6

172,398

91,162

Debtors

7

11,193

10,520

Cash at bank and in hand

 

5,170

2,238

 

188,761

103,920

Creditors: Amounts falling due within one year

8

(184,198)

(93,413)

Net current assets

 

4,563

10,507

Total assets less current liabilities

 

44,902

62,660

Creditors: Amounts falling due after more than one year

8

(44,901)

(62,537)

Net assets

 

1

123

Capital and reserves

 

Called up share capital

9

1

1

Retained earnings

-

122

Shareholders' funds

 

1

123

For the financial year ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

 

Autumn and May Jewellery Designs Ltd

(Registration number: 10208588)
Balance Sheet as at 30 June 2024

Approved and authorised by the director on 12 March 2025
 

.........................................

Mr Isac Manoj
Director

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
5 Carrwood Park Selby Road
Swillington Common
Leeds
Yorkshire
LS15 4LG
England

These financial statements were authorised for issue by the director on 12 March 2025.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

The current income 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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures & Fittings

25% Straight Line

Computer & Software Equipment

33% Straight Line

Motor Vehicle

20% Straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class

Amortisation method and rate

Goodwill

5 Years SL

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are 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.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 4 (2023 - 4).

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Intangible assets

Goodwill
 £

Other intangible assets
 £

Total
£

Cost or valuation

At 1 July 2023

15,000

4,500

19,500

At 30 June 2024

15,000

4,500

19,500

Amortisation

At 1 July 2023

15,000

2,700

17,700

Amortisation charge

-

900

900

At 30 June 2024

15,000

3,600

18,600

Carrying amount

At 30 June 2024

-

900

900

At 30 June 2023

-

1,800

1,800

5

Tangible assets

Land and buildings
£

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

15,000

22,577

58,190

95,767

Additions

-

1,291

-

1,291

At 30 June 2024

15,000

23,868

58,190

97,058

Depreciation

At 1 July 2023

15,000

18,776

11,638

45,414

Charge for the year

-

567

11,638

12,205

At 30 June 2024

15,000

19,343

23,276

57,619

Carrying amount

At 30 June 2024

-

4,525

34,914

39,439

At 30 June 2023

-

3,801

46,552

50,353

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Included within the net book value of land and buildings above is £Nil (2023 - £Nil) in respect of long leasehold land and buildings.
 

6

Stocks

2024
£

2023
£

Other inventories

172,398

91,162

7

Debtors

Current

2024
£

2023
£

Trade debtors

3,193

2,520

Prepayments

8,000

8,000

 

11,193

10,520

 

Autumn and May Jewellery Designs Ltd

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

8

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

123,090

46,928

Taxation and social security

12,748

21,704

Other creditors

48,360

24,781

184,198

93,413

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

10

44,901

62,537

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

1

1

1

1

       

10

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Bank borrowings

19,913

29,922

Hire purchase contracts

24,988

32,615

44,901

62,537