Registered number
01434175
Cosgroves The Jewellers Limited
Filleted Accounts
30 June 2024
Cosgroves The Jewellers Limited
Registered number: 01434175
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 6,541 6,458
Current assets
Stocks 127,536 157,938
Cash at bank and in hand 124,420 63,832
251,956 221,770
Creditors: amounts falling due within one year 4 (119,014) (126,272)
Net current assets 132,942 95,498
Total assets less current liabilities 139,483 101,956
Provisions for liabilities (1,243) (1,227)
Net assets 138,240 100,729
Capital and reserves
Called up share capital 900 900
Profit and loss account 137,340 99,829
Shareholders' funds 138,240 100,729
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
D W Cosgrove
Director
Approved by the board on 17 March 2025
Cosgroves The Jewellers Limited
Notes to the Accounts
for the year ended 30 June 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings over 5 years
Fixtures, fittings and equipment 15% & 20% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 9
3 Tangible fixed assets
Leasehold land and buildings Fixtures, fittings and equipment Motor vehicles Total
£ £ £ £
Cost
At 1 July 2023 15,627 66,398 3,996 86,021
Additions - 1,600 - 1,600
At 30 June 2024 15,627 67,998 3,996 87,621
Depreciation
At 1 July 2023 15,627 60,166 3,770 79,563
Charge for the year - 1,461 56 1,517
At 30 June 2024 15,627 61,627 3,826 81,080
Net book value
At 30 June 2024 - 6,371 170 6,541
At 30 June 2023 - 6,232 226 6,458
4 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 21,231 35,182
Taxation and social security costs 33,513 27,012
Other creditors 64,270 64,078
119,014 126,272
5 Related party transactions
During the year dividends were paid to shareholding directors of £20,000 (2023: £40,000).

The balance owed to the directors was £58,162 (2023: £58,464) at the year end.
6 Controlling party
The company is wholly controlled by the directors.
7 Other information
Cosgroves The Jewellers Limited is a private company limited by shares and incorporated in England. Its registered office and trading address is:
Martin Wilkinson
3 Church Street
Newark
Nottinghamshire 
NG24 1DT
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