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REGISTERED NUMBER: 00446122 (England and Wales)















SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024






SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2024







DIRECTORS: D J Sayer
P R Cheer



SECRETARY: P R Cheer



REGISTERED OFFICE: 27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BUSINESS ADDRESS: 4-6 Broad Street
Wells
Somerset
BA5 2DN



REGISTERED NUMBER: 00446122 (England and Wales)



ACCOUNTANTS: Duncan & Toplis Limited
27-29 Lumley Avenue
Skegness
Lincolnshire
PE25 2AT



BANKERS: HSBC Bank PLC
49 Lumley Road
Skegness
Lincolnshire
PE25 3LW

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

STATEMENT OF FINANCIAL POSITION
31 DECEMBER 2024

31.12.24 31.12.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,166 10,792
Investments 5 4,800 4,800
13,966 15,592

CURRENT ASSETS
Stocks 394,796 378,270
Debtors 6 5,880 3,949
Cash at bank and in hand 443,500 252,872
844,176 635,091
CREDITORS
Amounts falling due within one year 7 277,253 265,356
NET CURRENT ASSETS 566,923 369,735
TOTAL ASSETS LESS CURRENT LIABILITIES 580,889 385,327

CREDITORS
Amounts falling due after more than one year 8 (282,500 ) (282,500 )

PROVISIONS FOR LIABILITIES (2,224 ) (2,027 )
NET ASSETS 296,165 100,800

CAPITAL AND RESERVES
Called up share capital 2,450 2,450
Revaluation reserve 9 3,301 3,301
Capital redemption reserve 2,550 2,550
Retained earnings 287,864 92,499
SHAREHOLDERS' FUNDS 296,165 100,800

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

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

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

STATEMENT OF FINANCIAL POSITION - continued
31 DECEMBER 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 March 2025 and were signed on its behalf by:





D J Sayer - Director


SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

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

1. STATUTORY INFORMATION

Sayer & Sons (Skegness 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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 represents amounts chargeable by the company for the goods and services provided during the year, excluding value added tax and trade discount.

Tangible fixed assets
Tangible fixed assets are held at cost, less accumulated depreciation and impairment.

Stocks
Stocks are valued at the lower of cost and estimated selling price less costs to complete and sell and after making due allowance for obsolete and slow moving items.

Financial instruments
The company has chosen to adopt the FRS102 1A in respect of financial instruments.

Basic financial assets, including trade and other debtors and cash and bank balances are initially recognised at transaction price, unless the arrangement constitute a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

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 the income statement.

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

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 payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.


SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 DECEMBER 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 statement of financial position 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.

Pension costs and other post-retirement benefits
The company operated a defined contribution pension scheme. Contributions payable to the company's pension scheme were charged to the profit and loss account in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 January 2024
and 31 December 2024 28,892
DEPRECIATION
At 1 January 2024 18,100
Charge for year 1,626
At 31 December 2024 19,726
NET BOOK VALUE
At 31 December 2024 9,166
At 31 December 2023 10,792

5. FIXED ASSET INVESTMENTS
Other
investments
£   
COST OR VALUATION
At 1 January 2024
and 31 December 2024 4,800
NET BOOK VALUE
At 31 December 2024 4,800
At 31 December 2023 4,800

Cost or valuation at 31 December 2024 is represented by:

Other
investments
£   
Valuation in 2024 4,800

SAYER & SONS (SKEGNESS JEWELLERS)
LIMITED (REGISTERED NUMBER: 00446122)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade debtors - 1,330
Other debtors 5,880 2,619
5,880 3,949

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.24 31.12.23
£    £   
Trade creditors 14,608 8,907
Taxation and social security 122,244 90,975
Other creditors 140,401 165,474
277,253 265,356

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.24 31.12.23
£    £   
Other creditors 282,500 282,500

9. RESERVES
Revaluation
reserve
£   
At 1 January 2024
and 31 December 2024 3,301

10. DIRECTORS LOAN

The directors have provided the company with an interest free loan totalling £93,608 (2023 £159,003)