| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| John Pass Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements |
| for the Year Ended 31 January 2025 |
| for |
| John Pass Limited |
| John Pass Limited (Registered number: 07280179) |
| Contents of the Financial Statements |
| for the year ended 31 January 2025 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| John Pass Limited |
| Company Information |
| for the year ended 31 January 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| John Pass Limited (Registered number: 07280179) |
| Statement of Financial Position |
| 31 January 2025 |
| 2025 | 2024 |
| Notes | £ | £ |
| FIXED ASSETS |
| Intangible assets | 5 |
| Tangible assets | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 | ( |
) | ( |
) |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
| PROVISIONS FOR LIABILITIES | 12 | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| John Pass Limited (Registered number: 07280179) |
| Statement of Financial Position - continued |
| 31 January 2025 |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| John Pass Limited (Registered number: 07280179) |
| Notes to the Financial Statements |
| for the year ended 31 January 2025 |
| 1. | STATUTORY INFORMATION |
| John Pass Limited ('The Company') is primarily engaged in the retail of jewellery and watches. |
| The company is a private company limited by shares and is incorporated in England and Wales. The address of the principle place of business is 179 Nantwich Road, Crewe, Cheshire, CW2 6DT and the registered office is Datum House, Electra Way, Crewe, CW1 6ZF.The registered number can be found on the Company Information page. |
| The functional and presentational currency of the financial statements is the Pound Sterling (£). Monetary amounts in these financial statements are rounded to the nearest £. |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Summary of significant accounting policies |
| The principle accounting policies applied in the preparation of these financial statements are set out below. |
| These policies have been consistently applied to all years presented, unless otherwise stated. |
| Basis of preparation |
| The financial statements are prepared on the going concern basis under the historical cost convention and comply with the United Kingdom Accounting Standards and Companies Act 2006. |
| Going concern |
| Having considered all known factors, no material uncertainties that may cast significant doubt about the ability of the company to continue as a going concern have been identified by the directors. |
| The directors therefore consider it appropriate to prepare the financial statements on the going concern basis. |
| Turnover |
| Revenue (described as turnover) is recognised on the delivery of goods to the customer and on the performance of services for the customer (net of VAT). It is recognised when the company obtains the right to consideration. |
| Goodwill |
| Tangible fixed assets |
| Tangible fixed assets are stated at historical cost less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended. |
| Depreciation is provided at the following annual rates so as to write off their cost less residual amounts over their estimated useful economic lives. Assets are also reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognised for the amount by which the assets carrying amount exceeds its recoverable amount. |
| Leasehold property | - over 5 - 15 years |
| Plant and machinery | - 20% on reducing balance |
| Fixtures and fittings | - 20% on reducing balance |
| Motor Vehicles | - 25% on reducing balance |
| The residual values and useful lives of assets are reviewed and adjusted if appropriate at each statement of financial position date. |
| John Pass Limited (Registered number: 07280179) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Stocks |
| Stocks are stated at the lower of cost and net realisable value. Cost includes all costs of purchase and also other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out basis. |
| An impairment loss is recognised for damaged and returned stock where appropriate. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that that have been enacted or substantively enacted by the year end. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the year end. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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. |
| Deferred tax is charged or credited in profit or loss, except when it relates to items credited or charged directly to other comprehensive income or equity, in which case the tax follows the transaction or event it relates to and is also charged or credited directly to other comprehensive income, or equity. |
| Employee benefits |
| The company provides a range of benefits to employees, including annual bonus arrangements, paid holiday arrangements and a defined contribution pension plan. |
| Short term benefits, including holiday pay and other similar non-monetary benefits, are recognised as an expense in the period in which service is received. |
| The company operates a defined contribution pension plan for its directors and employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown as accruals at the end of the statement of financial position date. The assets of the plan are held separately from the company in independently administered funds. |
| The company operates an annual bonus plan for certain employees. An expense is recognised in the Statement of Comprehensive Income when the company has a legal or constructive obligation to make payments under the plan as a result of past events and a reliable estimate of the obligation can be made. |
| John Pass Limited (Registered number: 07280179) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 3. | ACCOUNTING POLICIES - continued |
| Impairment of assets |
| Assets not measured at fair value are reviewed for any indications that the asset maybe impaired at each statement of financial position date. If such indications exists the recoverable amount of the asset or the assets cash generating unit is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease. |
| Any losses arising from impairment are recognised in the Statement of Comprehensive Income under the appropriate heading. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 5. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST |
| At 1 February 2024 |
| and 31 January 2025 |
| AMORTISATION |
| At 1 February 2024 |
| Amortisation for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| 6. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Long | Plant and | and | Motor |
| leasehold | machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 February 2024 |
| Additions |
| At 31 January 2025 |
| DEPRECIATION |
| At 1 February 2024 |
| Charge for year |
| At 31 January 2025 |
| NET BOOK VALUE |
| At 31 January 2025 |
| At 31 January 2024 |
| John Pass Limited (Registered number: 07280179) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 7. | STOCKS |
| 2025 | 2024 |
| £ | £ |
| Stocks |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Other creditors |
| 11. | LEASING AGREEMENTS |
| Minimum lease payments under non-cancellable operating leases fall due as follows: |
| 2025 | 2024 |
| £ | £ |
| Within one year |
| Between one and five years |
| 12. | PROVISIONS FOR LIABILITIES |
| 2025 | 2024 |
| £ | £ |
| Deferred tax | 63,373 | 33,350 |
| Leave pay provision | 5,029 | 876 |
| John Pass Limited (Registered number: 07280179) |
| Notes to the Financial Statements - continued |
| for the year ended 31 January 2025 |
| 12. | PROVISIONS FOR LIABILITIES - continued |
| Leave |
| Deferred | pay |
| tax | provision |
| £ | £ |
| Balance at 1 February 2024 |
| Charge/(credit) to statement |
| of comprehensive income | 30,023 | 4,153 |
| Balance at 31 January 2025 |
| The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting period end date, taking into account the risks and uncertainties surrounding the obligation. |
| The leave pay provision of £5,029 represents holiday balances accrued as a result of services rendered in the current period and which employees are entitled to carry forward. The provision is measured as the salary cost payable for the period of absence. |