Company registration number 03121562 (England and Wales)
NEWCASTLE JEWELLERS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
PAGES FOR FILING WITH REGISTRAR
NEWCASTLE JEWELLERS LIMITED
COMPANY INFORMATION
Director
Mr R Hall
Secretary
P Jackson
Company number
03121562
Registered office
36 Pilgrim Street
Newcastle upon Tyne
Tyne and Wear
NE1 6SE
Accountants
Robson Laidler Accountants Limited
Fernwood House
Fernwood Road
Jesmond
Newcastle upon Tyne
Tyne and Wear
England
NE2 1TJ
Bankers
National Westminster Bank Plc
16 Northumberland Street
Newcastle upon Tyne
NE1 7EL
NEWCASTLE JEWELLERS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
NEWCASTLE JEWELLERS LIMITED
BALANCE SHEET
AS AT
28 FEBRUARY 2025
28 February 2025
- 1 -
28 February 2025
29 February 2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
35,531
39,882
Current assets
Stocks
1,875,941
1,881,614
Debtors
4
323,430
322,396
Cash at bank and in hand
111,934
48,473
2,311,305
2,252,483
Creditors: amounts falling due within one year
5
(121,455)
(129,981)
Net current assets
2,189,850
2,122,502
Total assets less current liabilities
2,225,381
2,162,384
Provisions for liabilities
6
(8,525)
(9,376)
Net assets
2,216,856
2,153,008
Capital and reserves
Called up share capital
8
10,000
10,000
Profit and loss reserves
2,206,856
2,143,008
Total equity
2,216,856
2,153,008

For the financial year ended 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 26 September 2025
Mr R Hall
Director
Company registration number 03121562 (England and Wales)
NEWCASTLE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 2 -
1
Accounting policies
Company information

Newcastle Jewellers Limited is a private company limited by shares incorporated in England and Wales. The registered office is 36 Pilgrim Street, Newcastle upon Tyne, Tyne and Wear, NE1 6SE.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in UK sterling which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £1.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for retail sales of j ewellery and sales of gold provided in the normal course of business, and is shown net of value added tax.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Leasehold land and buildings
Over period of lease
Fixtures and fittings
25% on reducing balance
Antique fixtures
2% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.4
Impairment of assets

Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

NEWCASTLE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 3 -
1.5
Stocks

Stocks comprise new and second-hand items and ex-pledge items. The policy for each of these categories of stock is set out below:-

New and second hand stocks

Stocks have been valued at the lower of cost and net realisable value. As an approximation to cost, the cost of some items of stock are calculated by deducting an appropriate profit margin from the normal selling price.

Ex-pledge stocks

Ex-pledge stocks are valued at the lower of cost and net realisable value. Ex-pledge stocks comprise the collateral security initially given on the inception of a pawn loan becoming the property of the company due to the non-redemption of the loan. The cost of ex-pledge stock is based on the value of the loan principal plus the accrued interest owing on the loan.

1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.7
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 and deferred taxation assets and liabilities are not discounted.

Current tax

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.

1.8
Provisions

Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision i s measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

1.9
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

NEWCASTLE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
1
Accounting policies
(Continued)
- 4 -
1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

1.11

Pawnbroking interest receivable

Interest receivable on pawnbroking loans is recognised on all pawn loans as it accrues on a daily basis.

The company adopts the opinion that the carrying value of unredeemed pawn loans will be recovered by either subsequent sale or scrapping of the pledged items.

1.12

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.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
24
23
3
Tangible fixed assets
Leasehold land and buildings
Fixtures and fittings
Antique fixtures
Total
£
£
£
£
Cost
At 1 March 2024
23,799
179,750
6,850
210,399
Additions
-
0
6,472
-
0
6,472
Disposals
-
0
(4,183)
-
0
(4,183)
At 28 February 2025
23,799
182,039
6,850
212,688
Depreciation and impairment
At 1 March 2024
22,456
144,485
3,576
170,517
Depreciation charged in the year
761
9,507
137
10,405
Eliminated in respect of disposals
-
0
(3,765)
-
0
(3,765)
At 28 February 2025
23,217
150,227
3,713
177,157
Carrying amount
At 28 February 2025
582
31,812
3,137
35,531
At 29 February 2024
1,343
35,265
3,274
39,882
NEWCASTLE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 5 -
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
270,205
269,797
Prepayments and accrued income
53,225
52,599
323,430
322,396
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
8,218
5,714
Corporation tax
55,527
70,140
Other taxation and social security
44,675
37,992
Other creditors
3,718
4,578
Accruals and deferred income
9,317
11,557
121,455
129,981
6
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
7
8,525
9,376
7
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2025
2024
Balances:
£
£
Accelerated capital allowances
8,525
9,376
2025
Movements in the year:
£
Liability at 1 March 2024
9,376
Credit to profit or loss
(851)
Liability at 28 February 2025
8,525
NEWCASTLE JEWELLERS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 28 FEBRUARY 2025
- 6 -
8
Called up share capital
2025
2024
2025
2024
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
7,999
7,999
7,999
7,999
Ordinary B of £1 each
2,000
2,000
2,000
2,000
Ordinary C of £1 each
1
1
1
1
10,000
10,000
10,000
10,000
9
Operating lease commitments
As lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
Total commitments
22,300
23,201
10
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

The following amounts were outstanding at the reporting end date:

2025
2024
Amounts due to related parties
£
£
Key management personnel
683
1,132
Other related parties
1,244
2,644
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