KABRAS' JEWELLERY LTD
Registered number: 09699744
Balance Sheet
as at 31 July 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,366 5,753
Current assets
Stocks 15,742 14,882
Debtors 4 11,536 8,410
Cash at bank and in hand 17,539 8,806
44,817 32,098
Creditors: amounts falling due within one year 5 (22,169) (33,877)
Net current assets/(liabilities) 22,648 (1,779)
Net assets 28,014 3,974
Capital and reserves
Called up share capital 100 100
Profit and loss account 27,914 3,874
Shareholders' funds 28,014 3,974
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.
Shardaben A Makwana
Director
Approved by the board on 25 November 2024
KABRAS' JEWELLERY LTD
Notes to the Accounts
for the year ended 31 July 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.
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:
Fixtures, fittings, tools and equipment 20% 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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 2
3 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 August 2023 3,600 10,292 13,892
At 31 July 2024 3,600 10,292 13,892
Depreciation
At 1 August 2023 - 8,139 8,139
Charge for the year - 387 387
At 31 July 2024 - 8,526 8,526
Net book value
At 31 July 2024 3,600 1,766 5,366
At 31 July 2023 3,600 2,153 5,753
4 Debtors 2024 2023
£ £
Trade debtors 7,500 8,410
Other debtors 4,036 -
11,536 8,410
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 8,260 12,263
Trade creditors - 610
Corporation tax 8,588 2,858
Other taxes and social security costs 321 2,287
Other creditors 5,000 15,859
22,169 33,877
6 Other information
KABRAS' JEWELLERY LTD is a private company limited by shares and incorporated in England. Its registered office is:
3C
The Broadway
Southall
Middlesex
UB1 1JR
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