Caseware UK (AP4) 2024.0.164 2024.0.164 2024-09-302024-09-302025-05-272023-07-01falseWholesale Retail1514truetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 02163786 2023-07-01 2024-09-30 02163786 2022-07-01 2023-06-30 02163786 2024-09-30 02163786 2023-06-30 02163786 2022-07-01 02163786 c:Director1 2023-07-01 2024-09-30 02163786 d:Buildings 2023-07-01 2024-09-30 02163786 d:Buildings d:LongLeaseholdAssets 2023-07-01 2024-09-30 02163786 d:Buildings d:LongLeaseholdAssets 2024-09-30 02163786 d:Buildings d:LongLeaseholdAssets 2023-06-30 02163786 d:FurnitureFittings 2023-07-01 2024-09-30 02163786 d:FurnitureFittings 2024-09-30 02163786 d:FurnitureFittings 2023-06-30 02163786 d:FurnitureFittings d:OwnedOrFreeholdAssets 2023-07-01 2024-09-30 02163786 d:OwnedOrFreeholdAssets 2023-07-01 2024-09-30 02163786 d:ComputerSoftware 2024-09-30 02163786 d:ComputerSoftware 2023-06-30 02163786 d:CurrentFinancialInstruments 2024-09-30 02163786 d:CurrentFinancialInstruments 2023-06-30 02163786 d:Non-currentFinancialInstruments 2024-09-30 02163786 d:Non-currentFinancialInstruments 2023-06-30 02163786 d:CurrentFinancialInstruments d:WithinOneYear 2024-09-30 02163786 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 02163786 d:Non-currentFinancialInstruments d:AfterOneYear 2024-09-30 02163786 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 02163786 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2024-09-30 02163786 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-06-30 02163786 d:ShareCapital 2024-09-30 02163786 d:ShareCapital 2023-06-30 02163786 d:RetainedEarningsAccumulatedLosses 2024-09-30 02163786 d:RetainedEarningsAccumulatedLosses 2023-06-30 02163786 c:FRS102 2023-07-01 2024-09-30 02163786 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-09-30 02163786 c:FullAccounts 2023-07-01 2024-09-30 02163786 c:PrivateLimitedCompanyLtd 2023-07-01 2024-09-30 02163786 d:AcceleratedTaxDepreciationDeferredTax 2024-09-30 02163786 d:AcceleratedTaxDepreciationDeferredTax 2023-06-30 02163786 d:ComputerSoftware d:ExternallyAcquiredIntangibleAssets 2023-07-01 2024-09-30 02163786 2 2023-07-01 2024-09-30 02163786 d:ComputerSoftware d:OwnedIntangibleAssets 2023-07-01 2024-09-30 02163786 e:PoundSterling 2023-07-01 2024-09-30 iso4217:GBP xbrli:pure

Registered number: 02163786









BAKER BROS. (JEWELLERS) LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE PERIOD ENDED 30 SEPTEMBER 2024

 
BAKER BROS. (JEWELLERS) LIMITED
REGISTERED NUMBER: 02163786

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

30 September
30 
June
2024
2023
Note
£
£

Fixed assets
  

Intangible assets
 5 
19,701
8,688

Tangible assets
 6 
2,457,681
18,562

  
2,477,382
27,250

Current assets
  

Stocks
  
1,947,674
1,746,909

Debtors: amounts falling due within one year
 7 
501,945
691,769

Cash at bank and in hand
  
1,318,362
2,421,037

  
3,767,981
4,859,715

Creditors: amounts falling due within one year
 8 
(1,313,855)
(1,143,293)

Net current assets
  
 
 
2,454,126
 
 
3,716,422

Total assets less current liabilities
  
4,931,508
3,743,672

Creditors: amounts falling due after more than one year
 9 
(217,457)
-

Provisions for liabilities
  

Deferred tax
 11 
(299,914)
(1,854)

  
 
 
(299,914)
 
 
(1,854)

Net assets
  
4,414,137
3,741,818


Capital and reserves
  

Called up share capital 
  
5,000
5,000

Profit and loss account
  
4,409,137
3,736,818

  
4,414,137
3,741,818


Page 1

 
BAKER BROS. (JEWELLERS) LIMITED
REGISTERED NUMBER: 02163786
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The Directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the period in question in accordance with section 476 of the Companies Act 2006.

The Directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


E. McAuley
Director

Date: 27 May 2025

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

1.


General information

Baker Bros. (Jewellers) Limited is a company limited by shares and incorporated in England & Wales under the Companies Act 2006. The address of the registered office is given on the company information page. The nature of the Company's operations and its principal activities are set out in the Directors’ report.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Therefore, the directors have adopted the going concern basis of accounting in preparing the financial statements

 
2.3

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Page 3

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.4

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

 
2.6

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Profit and Loss Account in the same period as the related expenditure.

 
2.7

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.8

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.9

Borrowing costs

All borrowing costs are recognised in profit or loss in the period in which they are incurred.

Page 4

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.10

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its 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 in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.11

Current and deferred taxation

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

 
2.12

Intangible assets

Intangible assets are initially recognised at cost. After recognition, under the cost model, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

 
2.13

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 5

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)


2.13
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Freehold property
-
2% straight line
L/Term Leasehold Property
-
Over the period of the lease
Fixtures & fittings
-
25% reducing balance

 
2.14

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.15

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.16

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.17

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.18

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

Page 6

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

2.Accounting policies (continued)

 
2.19

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Judgments in applying accounting policies and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgments, estimates and assumptions that affect the amounts reported for assets and liabilities as at the balance sheet date and the amounts reported for revenues and expenses during the year. The nature of estimation means the actual outcomes could differ from those estimates.


4.


Employees

The average monthly number of employees, including directors, during the period was 15 (2023 - 14).


5.


Intangible assets






Computer software

£



Cost


At 1 July 2023
21,720


Additions
16,443



At 30 September 2024

38,163



Amortisation


At 1 July 2023
13,032


Charge for the period on owned assets
5,430



At 30 September 2024

18,462



Net book value



At 30 September 2024
19,701



At 30 June 2023
8,688



Page 7

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

6.


Tangible fixed assets







L/Term Leasehold Property
Fixtures & fittings
Total

£
£
£



Cost or valuation


At 1 July 2023
-
211,275
211,275


Additions
895,174
1,556,390
2,451,564



At 30 September 2024

895,174
1,767,665
2,662,839



Depreciation


At 1 July 2023
-
192,713
192,713


Charge for the period 
-
12,445
12,445



At 30 September 2024

-
205,158
205,158



Net book value



At 30 September 2024
895,174
1,562,507
2,457,681



At 30 June 2023
-
18,562
18,562


7.


Debtors

30 September
30
 June
2024
2023
£
£


Other debtors
484,796
679,724

Prepayments and accrued income
17,149
12,045

501,945
691,769


Page 8

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

8.


Creditors: Amounts falling due within one year

30 September
30 
June
2024
2023
£
£

Bank loans
243,691
-

Trade creditors
771,346
574,107

Corporation tax
-
334,972

Other taxation and social security
14,300
96,174

Other creditors
272,743
127,040

Accruals and deferred income
11,775
11,000

1,313,855
1,143,293



9.


Creditors: Amounts falling due after more than one year

30 September
30 June
2024
2023
£
£

Bank loans
217,457
-

217,457
-


Page 9

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

10.


Loans


Analysis of the maturity of loans is given below:


30 September
30 June
2024
2023
£
£

Amounts falling due within one year

Bank loans
243,691
-


243,691
-

Amounts falling due 1-2 years

Bank loans
217,457
-



461,148
-



11.


Deferred taxation






2024
2023


£

£






At beginning of year
(1,854)
(2,767)


Charged to profit or loss
(298,060)
913



At end of year
(299,914)
(1,854)

The provision for deferred taxation is made up as follows:

30 September
30 
June
2024
2023
£
£


Accelerated capital allowances
(299,914)
(1,854)

(299,914)
(1,854)

Page 10

 
BAKER BROS. (JEWELLERS) LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 SEPTEMBER 2024

12.


Related party transactions

In other creditors are Directors loan account balances of £270,598 (2023: £124,367) representing amounts owed by the company at the year end. No interest is charged on these balances and they are repayable on demand. Included within other debtors there is an amount of £266,008 (2023: £679,018) due from two connected companies.
During the year rent of £19,750 (2023: £15,800) was payable to one of the directors for part of the business property.                                                                                                                              

 
Page 11