REGISTERED NUMBER: 00477792 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

B. K. T. (RINGS) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

W H J Wright

S R Wright

D J Wright

SECRETARY:

D J Wright

REGISTERED OFFICE:

7 Hatton Garden

London

EC1N 8AD

REGISTERED NUMBER:

00477792 (England and Wales)

ACCOUNTANTS:

Crowe U.K. LLP

2nd Floor

Medway Bridge House

1-8 Fairmeadow

Maidstone

Kent

ME14 1JP

FIXED ASSETS

Tangible assets

4

63,702

32,201

Investments

5

1,363

1,363

65,065

33,564

CURRENT ASSETS

Stocks

416,370

450,999

Debtors

6

166,333

199,941

Cash at bank and in hand

47,325

16,502

630,028

667,442

CREDITORS

Amounts falling due within one year

7

109,509

126,792

NET CURRENT ASSETS

520,519

540,650

TOTAL ASSETS LESS CURRENT LIABILITIES

585,584

574,214

CREDITORS

Amounts falling due after more than one year

8

(17,000

)

(17,000

)

PROVISIONS FOR LIABILITIES

(20,400

)

(14,752

)

NET ASSETS

548,184

542,462

CAPITAL AND RESERVES

Called up share capital

8,000

8,000

Retained earnings

540,184

534,462

548,184

542,462

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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.

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 Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 29 September 2025 and were signed on its behalf by:

D J Wright - Director

S R Wright - Director

1.	STATUTORY INFORMATION

B. K. T. (Rings) 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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. The financial statements have been prepared under the historical cost convention.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Revenue from the sale of goods is recognised when the goods are collected by, or despatched to, customers.

Tangible fixed assets

Tangible assets are measured at cost, net of depreciation.

Depreciation is recognised as to write off the cost of the assets over their useful lives on the following bases:

Fixtures, fittings & equipment 20% reducing balance

Computer equipment 20% straight line basis and 5 year straight line basis

Motor vehicles 25% reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price.

Financial instruments

The company has elected to apply the recognition and measurement provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs.

Basic financial liabilities

Basic financial liabilities, including creditors are recognised at transaction price.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

Leases

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

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 10 (2023 - 10 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

Cost

At 1 January 2024

99,771

Additions

46,089

At 31 December 2024

145,860

Depreciation

At 1 January 2024

67,570

Charge for year

14,588

At 31 December 2024

82,158

Net book value

At 31 December 2024

63,702

At 31 December 2023

32,201

5.	FIXED ASSET INVESTMENTS

Other

investments

£

Cost

At 1 January 2024

and 31 December 2024

1,363

Net book value

At 31 December 2024

1,363

At 31 December 2023

1,363

Fixed asset investment not carried at market value

Other investments represent 100% of the 5% Preference shares issued by TJW (Diamonds) Limited, a company under common control. These shares have no voting or participating rights.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

82,337

86,921

Amounts owed by associates

55,925

90,903

Other debtors

28,071

22,117

166,333

199,941

Other debtors include £55,925 (2023 - £90,903) in respect of an amount due from T.J.W. (Diamonds) Limited, a company in which the directors have a similar controlling interest. The loan has no fixed date of repayment and is non interest bearing.

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade creditors

3,569

3,980

Taxation and social security

58,293

76,201

Other creditors

47,647

46,611

109,509

126,792

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Other creditors

17,000

17,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

17,000

17,000

Other creditors amounting to £17,000 represents the 5% cumulative preference shares in the company, classified as a financial liability. The shares are entitled to a return of capital in priority to the ordinary shares on a winding up, but no entitlement to participate in surplus assets. They hold no voting rights.

9.	LEASING AGREEMENTS

At the reporting end date, the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases of £162,500 (2023: £212,500).

The lease commitment related to rent payable to 2028 in respect of a property occupied by the company.