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REGISTERED NUMBER: 07280179 (England and Wales)












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: A J Pass
Mrs J P Pass





REGISTERED OFFICE: Datum House
Electra Way
Crewe
Cheshire
CW1 6ZF





REGISTERED NUMBER: 07280179 (England and Wales)






John Pass Limited (Registered number: 07280179)

Statement of Financial Position
31 January 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 5 - 33,750
Tangible assets 6 298,295 171,405
298,295 205,155

CURRENT ASSETS
Stocks 7 2,843,504 2,825,013
Debtors 8 300,724 130,606
Cash at bank 4,181,949 4,338,948
7,326,177 7,294,567
CREDITORS
Amounts falling due within one year 9 (1,378,377 ) (1,180,768 )
NET CURRENT ASSETS 5,947,800 6,113,799
TOTAL ASSETS LESS CURRENT
LIABILITIES

6,246,095

6,318,954

CREDITORS
Amounts falling due after more than one
year

10

-

(500,000

)

PROVISIONS FOR LIABILITIES 12 (68,402 ) (34,226 )
NET ASSETS 6,177,693 5,784,728

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 6,177,592 5,784,627
6,177,693 5,784,728

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

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 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 Statement of Comprehensive Income has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 9 May 2025 and were signed on its behalf by:





A J Pass - Director


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

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

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
Goodwill, being the amount paid in connection with the acquisition of a business in 2014, is being amortised evenly over its estimated useful life of ten years.

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 26 (2024 - 26 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 1,350,000
AMORTISATION
At 1 February 2024 1,316,250
Amortisation for year 33,750
At 31 January 2025 1,350,000
NET BOOK VALUE
At 31 January 2025 -
At 31 January 2024 33,750

6. TANGIBLE FIXED ASSETS
Fixtures
Long Plant and and Motor
leasehold machinery fittings vehicles Totals
£    £    £    £    £   
COST
At 1 February 2024 71,147 267,841 238,255 34,176 611,419
Additions 14,377 19,227 136,492 - 170,096
At 31 January 2025 85,524 287,068 374,747 34,176 781,515
DEPRECIATION
At 1 February 2024 63,049 214,931 151,354 10,680 440,014
Charge for year 3,602 14,281 19,449 5,874 43,206
At 31 January 2025 66,651 229,212 170,803 16,554 483,220
NET BOOK VALUE
At 31 January 2025 18,873 57,856 203,944 17,622 298,295
At 31 January 2024 8,098 52,910 86,901 23,496 171,405

John Pass Limited (Registered number: 07280179)

Notes to the Financial Statements - continued
for the year ended 31 January 2025

7. STOCKS
2025 2024
£    £   
Stocks 2,843,504 2,825,013

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 174,134 13,760
Other debtors 126,590 116,846
300,724 130,606

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 640,937 552,296
Taxation and social security 409,171 367,257
Other creditors 328,269 261,215
1,378,377 1,180,768

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2025 2024
£    £   
Other creditors - 500,000

11. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2025 2024
£    £   
Within one year 30,000 30,000
Between one and five years 35,000 65,000
65,000 95,000

12. PROVISIONS FOR LIABILITIES
2025 2024
£    £   
Deferred tax 63,373 33,350
Leave pay provision 5,029 876
68,402 34,226

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 33,350 876
Charge/(credit) to statement
of comprehensive income 30,023 4,153
Balance at 31 January 2025 63,373 5,029

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.