14 false false false false false false false false false false true false false false false false false No description of principal activity 2023-11-01 Sage Accounts Production Advanced 2023 - FRS102_2023 986,778 986,778 986,778 xbrli:pure xbrli:shares iso4217:GBP 04470094 2023-11-01 2024-10-31 04470094 2024-10-31 04470094 2023-10-31 04470094 2022-11-01 2023-10-31 04470094 2023-10-31 04470094 2022-10-31 04470094 core:LandBuildings core:LongLeaseholdAssets 2023-11-01 2024-10-31 04470094 core:FurnitureFittings 2023-11-01 2024-10-31 04470094 bus:Director4 2023-11-01 2024-10-31 04470094 core:LandBuildings 2023-10-31 04470094 core:FurnitureFittings 2023-10-31 04470094 core:LandBuildings 2024-10-31 04470094 core:FurnitureFittings 2024-10-31 04470094 core:WithinOneYear 2024-10-31 04470094 core:WithinOneYear 2023-10-31 04470094 core:AfterOneYear 2024-10-31 04470094 core:AfterOneYear 2023-10-31 04470094 core:LandBuildings 2023-11-01 2024-10-31 04470094 core:ShareCapital 2024-10-31 04470094 core:ShareCapital 2023-10-31 04470094 core:RetainedEarningsAccumulatedLosses 2024-10-31 04470094 core:RetainedEarningsAccumulatedLosses 2023-10-31 04470094 core:BetweenOneFiveYears 2024-10-31 04470094 core:BetweenOneFiveYears 2023-10-31 04470094 core:CostValuation core:Non-currentFinancialInstruments 2024-10-31 04470094 core:Non-currentFinancialInstruments 2024-10-31 04470094 core:Non-currentFinancialInstruments 2023-10-31 04470094 core:LandBuildings 2023-10-31 04470094 core:FurnitureFittings 2023-10-31 04470094 bus:SmallEntities 2023-11-01 2024-10-31 04470094 bus:AuditExemptWithAccountantsReport 2023-11-01 2024-10-31 04470094 bus:SmallCompaniesRegimeForAccounts 2023-11-01 2024-10-31 04470094 bus:PrivateLimitedCompanyLtd 2023-11-01 2024-10-31 04470094 bus:FullAccounts 2023-11-01 2024-10-31 04470094 core:ComputerEquipment 2023-11-01 2024-10-31 04470094 core:ComputerEquipment 2023-10-31 04470094 core:ComputerEquipment 2024-10-31
COMPANY REGISTRATION NUMBER: 04470094
Hemstock's Jewellers Limited
Unaudited financial statements
31 October 2024
Hemstock's Jewellers Limited
Statement of financial position
31 October 2024
2024
2023
Note
£
£
£
£
Fixed assets
Tangible assets
5
15,070
23,616
Investments
6
986,778
986,778
-----------
-----------
1,001,848
1,010,394
Current assets
Stocks
255,614
278,568
Debtors
7
41,018
61,842
Cash at bank and in hand
7,453
8,738
---------
---------
304,085
349,148
Creditors: Amounts falling due within one year
8
( 888,348)
( 911,709)
---------
---------
Net current liabilities
( 584,263)
( 562,561)
-----------
-----------
Total assets less current liabilities
417,585
447,833
Creditors: Amounts falling due after more than one year
9
( 9,569)
( 19,812)
Provisions
Taxation including deferred tax
( 3,636)
( 4,150)
---------
---------
Net assets
404,380
423,871
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
404,280
423,771
---------
---------
Shareholders funds
404,380
423,871
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Hemstock's Jewellers Limited
Statement of financial position (continued)
31 October 2024
These financial statements were approved by the board of directors and authorised for issue on 19 May 2025 , and are signed on behalf of the board by:
M K Whittam
Director
Company registration number: 04470094
Hemstock's Jewellers Limited
Notes to the financial statements
Year ended 31 October 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 29 London Street, Norwich, Norfolk, NR2 1HU.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehansive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date. Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 measured using the 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.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Property improvements
-
10% straight line
Fixtures and fittings
-
15% reducing balance
Equipment
-
20% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of employees during the year was 14 (2023: 13 ).
5. Tangible assets
Property improve- ments
Fixtures and fittings
Equipment
Total
£
£
£
£
Cost
At 1 November 2023
14,993
123,849
3,795
142,637
Disposals
( 30,686)
( 2,453)
( 33,139)
-------
---------
------
---------
At 31 October 2024
14,993
93,163
1,342
109,498
-------
---------
------
---------
Depreciation
At 1 November 2023
13,497
102,368
3,156
119,021
Charge for the year
1,496
2,659
4,155
Disposals
( 26,934)
( 1,814)
( 28,748)
-------
---------
------
---------
At 31 October 2024
14,993
78,093
1,342
94,428
-------
---------
------
---------
Carrying amount
At 31 October 2024
15,070
15,070
-------
---------
------
---------
At 31 October 2023
1,496
21,481
639
23,616
-------
---------
------
---------
6. Investments
Shares in group undertakings
£
Cost
At 1 November 2023 and 31 October 2024
986,778
---------
Impairment
At 1 November 2023 and 31 October 2024
---------
Carrying amount
At 31 October 2024
986,778
---------
At 31 October 2023
986,778
---------
7. Debtors
2024
2023
£
£
Other debtors
41,018
61,842
-------
-------
8. Creditors: Amounts falling due within one year
2024
2023
£
£
Bank loans and overdrafts
17,667
26,546
Trade creditors
41,676
61,821
Amounts owed to group undertakings and undertakings in which the company has a participating interest
695,833
668,694
Social security and other taxes
48,365
36,158
Other creditors
84,807
118,490
---------
---------
888,348
911,709
---------
---------
Included in creditors are bank loans and overdrafts of £7,399 (2023: £11,753) which are secured by the company.
9. Creditors: Amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
9,569
19,812
------
-------
10. Operating leases
The total future minimum lease payments under non-cancellable operating leases are as follows:
2024
2023
£
£
Not later than 1 year
17,250
17,250
Later than 1 year and not later than 5 years
6,333
14,333
-------
-------
23,583
31,583
-------
-------
11. Director's advances, credits and guarantees
Included in other debtors is an amount due from C J F Hemstock to the company of £30,230 (2023: £49,065). The maximum overdrawn balance during the year was £72,372. Interest of £931 (2023: £1,163) was charged at the official rate.