| Eran Diamonds (UK) Limited |
| Registered number: |
03665577 |
| Balance Sheet |
| as at 31 December 2024 |
|
| Notes |
|
|
2024 |
|
|
2023 |
| £ |
£ |
| Fixed assets |
| Investments |
4 |
|
|
3,518,043 |
|
|
5,018,043 |
|
| Current assets |
| Stocks |
|
|
514,818 |
|
|
632,822 |
| Debtors |
5 |
|
7,616,031 |
|
|
8,082,485 |
| Cash at bank and in hand |
|
|
497,460 |
|
|
474,929 |
|
|
|
8,628,309 |
|
|
9,190,236 |
|
| Creditors: amounts falling due within one year |
6 |
|
(7,490,618) |
|
|
(7,015,636) |
|
| Net current assets |
|
|
|
1,137,691 |
|
|
2,174,600 |
|
| Total assets less current liabilities |
|
|
|
4,655,734 |
|
|
7,192,643 |
|
| Creditors: amounts falling due after more than one year |
7 |
|
|
- |
|
|
(2,460,000) |
|
|
| Net assets |
|
|
|
4,655,734 |
|
|
4,732,643 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
75,000 |
|
|
75,000 |
| Profit and loss account |
|
|
|
4,580,734 |
|
|
4,657,643 |
|
| Shareholders' funds |
|
|
|
4,655,734 |
|
|
4,732,643 |
|
|
|
|
|
|
|
|
| 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. |
|
|
| S. Nahar |
| Director |
| Approved by the board on 26 March 2025 |
|
| Eran Diamonds (UK) Limited |
| Notes to the Accounts |
| for the year ended 31 December 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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. |
|
|
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: |
|
|
Freehold buildings |
over 50 years |
|
Leasehold land and buildings |
over the lease term |
|
Plant and machinery |
- |
20% reducing balance |
|
Fixtures, fittings, tools and equipment |
over 5 years |
|
|
Investments |
|
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account. |
|
|
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 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 not recognised in the accounts |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
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 |
3 |
|
3 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
|
|
|
|
Plant and machinery etc |
| £ |
|
Cost |
|
At 1 January 2024 |
8,597 |
|
At 31 December 2024 |
8,597 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 January 2024 |
8,597 |
|
At 31 December 2024 |
8,597 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 December 2024 |
- |
|
|
| 4 |
Investments |
| Investments in |
| subsidiary |
| undertakings |
| £ |
|
Cost |
|
At 1 January 2024 |
5,018,043 |
|
Disposals |
(1,500,000) |
|
|
At 31 December 2024 |
3,518,043 |
|
|
|
|
|
|
|
|
|
|
Historical cost |
|
At 1 January 2024 |
5,018,043 |
|
|
|
|
|
|
|
|
|
|
At 31 December 2024 |
3,518,043 |
|
|
|
|
|
|
|
|
|
|
|
Interest in subsidiaries |
|
At the reporting date the company had interests in the following subsidiary: |
|
|
Subsidiary |
Type of shares held |
|
Proportion held (%) |
|
Country of incorporation |
|
Nature of business |
|
|
|
|
J. E. Marlow & Sons Limited |
Ordinary B |
85% |
|
United Kingdom |
|
Jewellers |
|
|
| 5 |
Debtors |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade debtors |
7,336,030 |
|
7,812,484 |
|
Other debtors |
280,001 |
|
270,001 |
|
|
|
|
|
|
7,616,031 |
|
8,082,485 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Creditors: amounts falling due within one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Trade creditors |
7,232,469 |
|
6,574,468 |
|
Taxation and social security costs |
215,380 |
|
356,738 |
|
Director's account |
32,548 |
|
49,548 |
|
Other creditors |
2 |
|
(1) |
|
Accruals |
10,219 |
|
34,883 |
|
|
|
|
|
|
7,490,618 |
|
7,015,636 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Creditors: amounts falling due after one year |
2024 |
|
2023 |
| £ |
£ |
|
|
Other creditors |
- |
|
2,460,000 |
|
|
|
|
|
|
|
|
|
|
| 8 |
Loans |
2024 |
|
2023 |
| £ |
£ |
|
Creditors include: |
|
Amounts payable otherwise than by instalment falling due for payment after more than five years |
|
- |
|
2,460,000 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Related party transactions |
|
At the reporting date, the company owed £32,548 (2023: £49,548) to S. Nahar who is the sole director of the company and a shareholder. The loan is unsecured and interest free but repayable on demand. |
|
|
During the year the company made sales of £2,890,381 (2023: £4,550,317) to and bought goods totalling £nil (2022: £nil) from Rahaan International Limited, a company registered in the UK and in which S. Nahar is the sole director. Rahaan International Limited is also a wholly owned subsidiary of Eran Diamonds (UK) Limited. All transactions were carried out on commercial terms and at arms length. At the reporting date the company was owed £7,068,844 (2023: £7,678,785) by Rahaan International Limited. |
|
|
Also during the year, the company made sales of £726,029 (2023: £699,125) to and bought goods totalling £0 (2023: £0) from J. E. Marlow & Sons Limited, a company registered in the UK and in which S. Nahar is a director. Eran Diamonds (UK) Limited is also the majority equity holder of J. E. Marlow & Sons Limited. All transactions were carried out on commercial terms and at arms length. At the reporting date the company was owed £0 (2023: £0) by and it owed £0 (2023: £0) to J. E. Marlow & Sons Limited. |
|
|
| 10 |
Controlling party |
|
The company is controlled by S. Nahar. |
|
|
| 11 |
Other information |
|
Eran Diamonds (UK) Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
|
1st Floor |
|
46 Warstone Lane |
|
Hickley |
|
Birmingham |
|
B18 6JJ |