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Reports Dated : 28/03/2025 Registered Number: 06510537
England and Wales

 

 

 


Unaudited Financial Statements

for the year ended 30 June 2024

for

DANIELS THE JEWELLERS LIMITED

 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 226,335    4,057 
226,335    4,057 
Current assets      
Stocks 4 146,478    236,513 
Debtors 5 96,461    40,710 
Cash at bank and in hand 1,133    25,441 
244,072    302,664 
Creditors: amount falling due within one year 6 (226,528)   (112,436)
Net current assets 17,544    190,228 
 
Total assets less current liabilities 243,879    194,285 
Net assets 243,879    194,285 
 

Capital and reserves
     
Called up share capital 7 1    1 
Profit and loss account 243,878    194,284 
Shareholders' funds 243,879    194,285 
 


For the year ended 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:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These 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 income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 28 March 2025 and were signed by:


-------------------------------
J Earp
Director
1
General Information
Daniels The Jewellers Limited is a private company, limited by shares, registered in England and Wales, registration number 06510537, registration address 36 Abbey Gate , Shopping Precinct , Nuneaton , CV11 4HL.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
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 comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
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.
Government grants
Government grants received are credited to deferred income. Grants towards capital expenditure are released to the income statement over the expected useful life of the assets. Grants received towards revenue expenditure are released to the income statement as the related expenditure is incurred.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the reporting date 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.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Fixtures and Fittings 20% Reducing Balance
Stocks
Stocks are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow moving items. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
Debtors and creditors receivable/payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in the other administrative expenses.


Cash and cash equivalents

Cash at bank and in hand are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Land and Buildings   Motor Vehicles   Fixtures and Fittings   Total
  £   £   £   £
At 01 July 2023     16,264    16,264 
Additions 213,445    10,000      223,445 
Disposals      
At 30 June 2024 213,445    10,000    16,264    239,709 
Depreciation
At 01 July 2023     11,193    11,193 
Charge for year 356      1,825    2,181 
On disposals      
At 30 June 2024 356      13,018    13,374 
Net book values
Closing balance as at 30 June 2024 213,089    10,000    3,246    226,335 
Opening balance as at 01 July 2023     4,057    4,057 


4.

Stocks

2024
£
  2023
£
Stocks 146,478    236,513 
146,478    236,513 

5.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 33,506    33,184 
Other Debtors 57,836   
91,342    33,184 

5.

Debtors: amounts falling due after one year

2024
£
  2023
£
Other Debtors 5,119    7,526 
5,119    7,526 

6.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 2,042    596 
Bank Loans & Overdrafts 149,090    27,816 
Taxation and Social Security 41,691    41,048 
Other Creditors 33,705    42,976 
226,528    112,436 

7.

Share Capital

Allotted, called up and fully paid
2024
£
  2023
£
1 Ordinary share of £1.00 each  
 

2