REGISTERED NUMBER: 00481067 (England and Wales)

Manufacturing Wholesale Jewellers

(Hull) Limited

Unaudited Financial Statements for the Year Ended 31 December 2024

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

V L Gibbins

M P Gibbins

SECRETARY:

M P Gibbins

REGISTERED OFFICE:

120 Spring Bank

Hull

East Yorkshire

HU3 1QJ

REGISTERED NUMBER:

00481067 (England and Wales)

ACCOUNTANTS:

Smailes Goldie

Chartered Accountants

Regent's Court

Princess Street

Hull

East Yorkshire HU2 8BA

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

25,017

20,544

25,017

20,544

CURRENT ASSETS

Stocks

6,004

6,546

Debtors

6

11,662

16,349

Cash at bank

47,723

20,405

65,389

43,300

CREDITORS

Amounts falling due within one year

7

36,528

21,452

NET CURRENT ASSETS

28,861

21,848

TOTAL ASSETS LESS CURRENT LIABILITIES

53,878

42,392

CREDITORS

Amounts falling due after more than one year

8

(6,546

)

(11,637

)

PROVISIONS FOR LIABILITIES

(2,289

)

(721

)

NET ASSETS

45,043

30,034

CAPITAL AND RESERVES

Called up share capital

9,900

9,900

Retained earnings

35,143

20,134

SHAREHOLDERS' FUNDS

45,043

30,034

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 Profit and loss account 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:

M P Gibbins - Director

1.	STATUTORY INFORMATION

Manufacturing Wholesale Jewellers (Hull) 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 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

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 has been fully amortised in the current year.

Tangible fixed assets

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

Freehold property

-

2% on cost

Fixtures and fittings

-

10% on reducing balance

Computer equipment

-

20% on cost

Stocks

Stocks are stated 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 stock to its present location and condition. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and loss account, 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, where material, 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

When employees have rendered service to the company, short-term employee benefits to which the employees are entitled are recognised at the undiscounted amount expected to be paid in exchange for that service.

The company operates a defined contribution plan for the benefit of its employees. Contributions are expensed as they become payable.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2023 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

Reclassification/transfer

11,000

At 31 December 2024

11,000

AMORTISATION

Reclassification/transfer

11,000

At 31 December 2024

11,000

NET BOOK VALUE

At 31 December 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

Plant and

and

Computer

property

machinery

fittings

equipment

Totals

£

£

£

£

£

COST

At 1 January 2024

23,552

-

37,009

10,957

71,518

Reclassification/transfer

-

8,487

-

1,132

9,619

At 31 December 2024

23,552

8,487

37,009

12,089

81,137

DEPRECIATION

At 1 January 2024

12,747

-

28,184

10,043

50,974

Charge for year

471

-

883

510

1,864

Reclassification/transfer

-

2,597

-

685

3,282

At 31 December 2024

13,218

2,597

29,067

11,238

56,120

NET BOOK VALUE

At 31 December 2024

10,334

5,890

7,942

851

25,017

At 31 December 2023

10,805

-

8,825

914

20,544

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Trade debtors

11,035

9,201

Other debtors

-

5,915

Directors' current accounts

330

-

Prepayments

297

1,233

11,662

16,349

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

5,095

4,966

Trade creditors

8,729

6,026

Corporation tax

9,488

2,423

Social security and other taxes

-

659

VAT

5,509

3,944

Other creditors

4,755

1,086

Accrued expenses

2,952

2,348

36,528

21,452

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans - 1-2 years

5,220

5,091

Bank loans - 2-5 years

1,326

6,546

6,546

11,637

9.	PENSION COMMITMENTS

The company operates a defined contribution pension scheme for the benefit of its employees. During the year the charge to the profit and loss account was £3,754 (2023 £3,838). At 31 December 2024 there was £546 (2023 £477) outstanding.

10.	OTHER FINANCIAL COMMITMENTS

Total financial commitments, guarantees and contingencies which are not included in the balance sheet amount to £27,006 (2023 - £12,674).

11.	RELATED PARTY DISCLOSURES

12.	ULTIMATE CONTROLLING PARTY

At 31 December 2024 the company is jointly controlled by Mr M P Gibbins and Mrs V L Gibbins by virtue of their 100% holding of the issued share capital of the company.