Registered number
13125676
Lno Jewellery Ltd
Filleted Accounts
31 January 2025
Lno Jewellery Ltd
Company Information
Directors
Mrs C K Bosin
T D Hutchinson
Accountants
Anderson Griffin
Rotunda Buildings
Montpellier Exchange
Cheltenham
Glos
Registered office
13 Anlaby Court
Evesham Road
Cheltenham
Glos
Registered number
13125676
Lno Jewellery Ltd
Registered number: 13125676
Balance Sheet
as at 31 January 2025
Notes 2025 2024
£ £
Fixed assets
Tangible assets 3 141,492 138,754
Current assets
Stocks 10,000 15,000
Cash at bank and in hand 3,412 728
13,412 15,728
Creditors: amounts falling due within one year 4 (16,099) (15,333)
Net current (liabilities)/assets (2,687) 395
Total assets less current liabilities 138,805 139,149
Creditors: amounts falling due after more than one year 5 (112,395) (118,518)
Net assets 26,410 20,631
Capital and reserves
Called up share capital 10 10
Profit and loss account 26,400 20,621
Shareholders' funds 26,410 20,631
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.
T D Hutchinson
Director
Approved by the board on 28 February 2025
Lno Jewellery Ltd
Notes to the Accounts
for the year ended 31 January 2025
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 (as applied to small entities by section 1A of the standard).
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:
Land and buildings nil
Fixtures and fittings over 5 years (previously 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.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 4 5
3 Tangible fixed assets
Land and buildings Fixtures and fittings Total
£ £ £
Cost
At 1 February 2024 138,347 509 138,856
Additions - 3,549 3,549
At 31 January 2025 138,347 4,058 142,405
Depreciation
At 1 February 2024 - 102 102
Charge for the year - 811 811
At 31 January 2025 - 913 913
Net book value
At 31 January 2025 138,347 3,145 141,492
At 31 January 2024 138,347 407 138,754
4 Creditors: amounts falling due within one year 2025 2024
£ £
Taxation and social security costs 14,729 13,109
Other creditors 1,370 2,224
16,099 15,333
5 Creditors: amounts falling due after one year 2025 2024
£ £
Bank loans 112,395 118,322
Directors loan - 196
112,395 118,518
6 Controlling party
The company is controlled by the directors.
7 Other information
Lno Jewellery Ltd is a private company limited by shares and incorporated in England. Its registered office is:
13 Anlaby Court
Evesham Road
Cheltenham
Glos
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