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Company No: 00801004 (England and Wales)

# WAKEFIELDS JEWELLERS LIMITED

### Unaudited Financial Statements
For the financial year ended 30 April 2025
Pages for filing with the registrar

WAKEFIELDS JEWELLERS LIMITED

## Unaudited Financial Statements

For the financial year ended 30 April 2025

Contents

WAKEFIELDS JEWELLERS LIMITED

## COMPANY INFORMATION

For the financial year ended 30 April 2025
WAKEFIELDS JEWELLERS LIMITED

## COMPANY INFORMATION (continued)

For the financial year ended 30 April 2025

Directors | D J Wakefield
| M K Wakefield
| V A Wakefield

Secretary | V A Wakefield

Registered office | 11 West Street
| Horsham
| West Sussex
| RH12 1PF
| United Kingdom

Company number | 00801004 (England and Wales)

Accountant | Kreston Reeves LLP
| Springfield House
| Springfield Road
| Horsham
| West Sussex
| RH12 2RG

WAKEFIELDS JEWELLERS LIMITED

## BALANCE SHEET

As at 30 April 2025
WAKEFIELDS JEWELLERS LIMITED

## BALANCE SHEET (continued)

As at 30 April 2025

| Note | 2025 |  | 2024
|  | £ |  | £
Fixed assets |  |  |  |
Tangible assets | 4 | 1,172,628 |  | 1,403,998
|  | 1,172,628 |  | 1,403,998
Current assets |  |  |  |
Stocks |  | 2,736,273 |  | 2,345,679
Debtors | 5 | 90,423 |  | 109,064
Cash at bank and in hand | 6 | 463,754 |  | 237,579
|  | 3,290,450 |  | 2,692,322
Creditors: amounts falling due within one year | 7 | ( 1,134,294) |  | ( 823,728)
Net current assets |  | 2,156,156 |  | 1,868,594
Total assets less current liabilities |  | 3,328,784 |  | 3,272,592
Creditors: amounts falling due after more than one year | 8 | ( 298,766) |  | ( 206,964)
Provision for liabilities | 9 | ( 46,583) |  | ( 120,203)
Net assets |  | 2,983,435 |  | 2,945,425
Capital and reserves |  |  |  |
Called-up share capital | 10 | 10,000 |  | 10,000
Share premium account |  | 9,261 |  | 9,261
Profit and loss account |  | 2,964,174 |  | 2,926,164
Total shareholders' funds |  | 2,983,435 |  | 2,945,425

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
- These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Wakefields Jewellers Limited (registered number: 00801004) were approved and authorised for issue by the Board of Directors on 13 October 2025. They were signed on its behalf by:

D J Wakefield Director |

WAKEFIELDS JEWELLERS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025
WAKEFIELDS JEWELLERS LIMITED

## NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 April 2025

##### 1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

##### General information and basis of accounting

Wakefields Jewellers Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 11 West Street, Horsham, West Sussex, RH12 1PF, United Kingdom.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £1.

##### Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

##### Employee benefits

Defined contribution schemes
The Company operates a defined contribution scheme. The amount charged to the Statement of Income and Retained Earnings in respect of pension costs and other post-retirement benefits is the contributions payable in the financial year. Differences between contributions payable in the financial year and contributions actually paid are included as either accruals or prepayments in the Balance Sheet.

##### Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

##### Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Leasehold improvements | 5 - 10 years straight line
Plant and machinery | 25 % reducing balance
| 3 years straight line
Vehicles | 4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.
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.

##### Leases

The Company as lessee
Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.

##### Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

##### Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

##### 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 creditors: amounts falling due within one year.

##### Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

##### Provisions

Provisions are recognised when the Company has a present obligation (legal or constructive) 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 Balance Sheet date, taking into account the risks and uncertainties surrounding the obligation. Where a provision is measured using the cash flows estimated to settle the present obligation, its carrying amount is the present value of those cash flows (when the effect of the time value of money is material).
When some or all of the economic benefits required to settle a provision are expected to be recovered from a third party, a receivable is recognised as an asset if it is virtually certain that reimbursement will be received and the amount of the receivable can be measured reliably.

##### Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

#### 2. Employees

| 2025 |  | 2024
| Number |  | Number
Monthly average number of persons employed by the Company during the year, including directors | 30 |  | 30

#### 3. Dividends on equity shares

| 2025 |  | 2024
| £ |  | £
Amounts recognised as distributions to equity holders in the financial year: |  |  |
Ordinary A Shares | 101,000 |  | 96,000
Ordinary B Shares | 62,850 |  | 62,850
| 163,850 |  | 158,850

#### 4. Tangible assets

| Leasehold improve- ments |  | Plant and machinery |  | Vehicles |  | Total
| £ |  | £ |  | £ |  | £
Cost |  |  |  |  |  |  |
At 01 May 2024 | 1,696,205 |  | 523,077 |  | 159,513 |  | 2,378,795
Additions | 126,189 |  | 22,198 |  | 0 |  | 148,387
Disposals | 0 |  | ( 21,401) |  | 0 |  | ( 21,401)
At 30 April 2025 | 1,822,394 |  | 523,874 |  | 159,513 |  | 2,505,781
Accumulated depreciation |  |  |  |  |  |  |
At 01 May 2024 | 678,683 |  | 226,864 |  | 69,250 |  | 974,797
Charge for the financial year | 254,828 |  | 76,459 |  | 39,876 |  | 371,163
Disposals | 0 |  | ( 12,807) |  | 0 |  | ( 12,807)
At 30 April 2025 | 933,511 |  | 290,516 |  | 109,126 |  | 1,333,153
Net book value |  |  |  |  |  |  |
At 30 April 2025 | 888,883 |  | 233,358 |  | 50,387 |  | 1,172,628
At 30 April 2024 | 1,017,522 |  | 296,213 |  | 90,263 |  | 1,403,998

#### 5. Debtors

| 2025 |  | 2024
| £ |  | £
Trade debtors | 18,845 |  | 13,843
Amounts owed by directors | 0 |  | 10
Prepayments | 70,379 |  | 60,139
Other debtors | 1,199 |  | 35,072
| 90,423 |  | 109,064

#### 6. Cash and cash equivalents

| 2025 |  | 2024
| £ |  | £
Cash at bank and in hand | 463,754 |  | 237,579

#### 7. Creditors: amounts falling due within one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 99,200 |  | 82,917
Trade creditors | 569,003 |  | 511,916
Amounts owed to directors | 91,374 |  | 0
Accruals and deferred income | 75,627 |  | 13,331
Corporation tax | 145,274 |  | 60,439
Other taxation and social security | 88,224 |  | 94,278
Other creditors | 65,592 |  | 60,847
| 1,134,294 |  | 823,728

#### 8. Creditors: amounts falling due after more than one year

| 2025 |  | 2024
| £ |  | £
Bank loans | 298,766 |  | 206,964

#### 9. Deferred tax

| 2025 |  | 2024
| £ |  | £
At the beginning of financial year | ( 120,203) |  | ( 176,751)
Credited to the Statement of Income and Retained Earnings | 73,620 |  | 56,548
At the end of financial year | ( 46,583) |  | ( 120,203)

The deferred taxation balance is made up as follows:

| 2025 |  | 2024
| £ |  | £
Accelerated capital allowances | ( 46,583) |  | ( 120,203)

#### 10. Called-up share capital

| 2025 |  | 2024
| £ |  | £
Allotted, called-up and fully-paid |  |  |
8,800 A ordinary shares of £ 1.00 each | 8,800 |  | 8,800
1,200 B ordinary shares of £ 1.00 each | 1,200 |  | 1,200
| 10,000 |  | 10,000

#### 11. Financial commitments

Pensions

The Company operates a defined contribution pension scheme for the directors and employees. The assets of the scheme are held separately from those of the Company in an independently administered fund.

The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £150,404 (2024 - £145,380). Contributions totalling £978 (2024 - £1,329) were payable to the fund at the balance sheet date and are included in creditors.

#### 12. Related party transactions

Transactions with the entity's directors

M J Wakefield and D J Wakefield
(Directors and shareholders)
Annual rent of £48,000 is payable to each of M K Wakefield and D J Wakefield (2024 - £48,000).