REGISTERED NUMBER: 03810094 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Prism Jewellery Design Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Ms S L Milburn

REGISTERED OFFICE:

Frome Road

Bradford On Avon

Wiltshire

BA15 1LE

REGISTERED NUMBER:

03810094 (England and Wales)

FIXED ASSETS

Intangible assets

4

11,136

14,225

Tangible assets

5

34,981

24,606

46,117

38,831

CURRENT ASSETS

Stocks

249,329

241,160

Debtors

6

99,995

116,053

Cash at bank and in hand

140,752

133,003

490,076

490,216

CREDITORS

Amounts falling due within one year

7

76,031

87,162

NET CURRENT ASSETS

414,045

403,054

TOTAL ASSETS LESS CURRENT LIABILITIES

460,162

441,885

PROVISIONS FOR LIABILITIES

6,169

5,385

NET ASSETS

453,993

436,500

CAPITAL AND RESERVES

Called up share capital

1,000

1,000

Retained earnings

452,993

435,500

SHAREHOLDERS' FUNDS

453,993

436,500

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

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

The director acknowledges her 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.

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 director and authorised for issue on 4 September 2025 and were signed by:

Ms S L Milburn - Director

1.	STATUTORY INFORMATION

Prism Jewellery Design Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

The principal accounting policies adopted in the preparation of the financial statements are set out below. These policies have been consistently applied to all years unless otherwise stated.

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. Thus, the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for customer returns, rebates or other similar allowances and is net of value added taxes. Turnover includes revenue earned from the sale of goods.

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:

- the company has transferred to the buyer the significant risks and rewards of ownership of the goods;

- the company retains neither continuing managerial involvement to the degree associated with ownership nor effective control over the goods sold;

- the amount of revenue can be measured reliably;

- it is probable that the economic benefits associated with the transaction can be measured reliably.

Specifically, revenue from the sale of goods is primarily recognised on despatch of goods to the customer.

Turnover from the supply of services represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the fair value of the consideration received or receivable. Where a contract has only been partially completed at the balance sheet date turnover represents the fair value of the service provided to date based on the stage of completion of the contract activity at the balance sheet date.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Computer software is being amortised evenly over its estimated useful life of five years.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2024 - 12 ) .

4.	INTANGIBLE FIXED ASSETS

Computer

software

£

COST

At 1 June 2024

23,709

Additions

2,065

At 31 May 2025

25,774

AMORTISATION

At 1 June 2024

9,484

Amortisation for year

5,154

At 31 May 2025

14,638

NET BOOK VALUE

At 31 May 2025

11,136

At 31 May 2024

14,225

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Computer

machinery

fittings

equipment

Totals

£

£

£

£

COST

At 1 June 2024

252,104

36,666

126,770

415,540

Additions

17,995

445

4,346

22,786

At 31 May 2025

270,099

37,111

131,116

438,326

DEPRECIATION

At 1 June 2024

235,770

33,405

121,759

390,934

Charge for year

8,582

741

3,088

12,411

At 31 May 2025

244,352

34,146

124,847

403,345

NET BOOK VALUE

At 31 May 2025

25,747

2,965

6,269

34,981

At 31 May 2024

16,334

3,261

5,011

24,606

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

88,428

101,074

Other debtors

1,451

1,451

Prepayments and accrued income

10,116

13,528

99,995

116,053

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade creditors

31,286

37,497

Tax

3,359

11,693

Social security and other taxes

28,191

26,096

Other creditors

5,695

5,242

Accrued expenses

7,500

6,634

76,031

87,162

8.	LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

27,400

20,000

Between one and five years

22,833

-

50,233

20,000

9.	RELATED PARTY DISCLOSURES

During the year, dividends paid to directors totalled £20,503.49 (2024: £6,000).

At the year end, the directors were owed £nil (2024: £Nil).