Registered number
11849630
VK JEWELLERY LONDON LTD
Filleted Accounts
30 June 2024
VK JEWELLERY LONDON LTD
Registered number: 11849630
Balance Sheet
as at 30 June 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,552 6,770
Current assets
Stocks 39,887 50,097
Debtors 4 10,945 22,476
Cash at bank and in hand 10,600 13,991
61,432 86,564
Creditors: amounts falling due within one year 5 (9,322) (28,553)
Net current assets 52,110 58,011
Total assets less current liabilities 57,662 64,781
Creditors: amounts falling due after more than one year 6 (119,142) (120,094)
Net liabilities (61,480) (55,313)
Capital and reserves
Called up share capital 100 100
Profit and loss account (61,580) (55,413)
Shareholders' funds (61,480) (55,313)
The director is 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 director acknowledges his 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.
Can Kevin KOMURCU
Director
Approved by the board on 25 October 2024
VK JEWELLERY LONDON LTD
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. Turnover from the sale of goods 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 not provided on all tangible fixed assets in the year of acquisition.
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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A corporation tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A corporation tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Corporation tax assets and liabilities are not discounted.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Fix, fittings & equipment
£
Cost
At 1 July 2023 12,279
At 30 June 2024 12,279
Depreciation
At 1 July 2023 5,509
Charge for the year 1,218
At 30 June 2024 6,727
Net book value
At 30 June 2024 5,552
At 30 June 2023 6,770
4 Debtors 2024 2023
£ £
Trade debtors - 7,201
Rent deposit paid 10,945 15,275
10,945 22,476
5 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 2,296 20,375
Taxation and social security costs 4,994 8,178
Other creditors 2,032 -
9,322 28,553
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank Loan - 17,528
Other creditors 119,142 102,566
119,142 120,094
7 Other information
VK JEWELLERY LONDON LTD is a private company limited by shares and incorporated in England. Its registered office is:
3a Campden Street
London
London
W8 7EP
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