1 1 Rileys Watchmakers Ltd 04581931 false 2024-03-01 2025-02-28 2025-02-28 The principal activity of the company is jewellers & jewellery repairs. Digita Accounts Production Advanced 6.30.9574.0 true 04581931 2024-03-01 2025-02-28 04581931 2025-02-28 04581931 core:RetainedEarningsAccumulatedLosses 2025-02-28 04581931 core:ShareCapital 2025-02-28 04581931 core:CurrentFinancialInstruments 2025-02-28 04581931 core:CurrentFinancialInstruments core:WithinOneYear 2025-02-28 04581931 core:Non-currentFinancialInstruments core:AfterOneYear 2025-02-28 04581931 core:FurnitureFittingsToolsEquipment 2025-02-28 04581931 core:OtherPropertyPlantEquipment 2025-02-28 04581931 bus:SmallEntities 2024-03-01 2025-02-28 04581931 bus:AuditExemptWithAccountantsReport 2024-03-01 2025-02-28 04581931 bus:FilletedAccounts 2024-03-01 2025-02-28 04581931 bus:SmallCompaniesRegimeForAccounts 2024-03-01 2025-02-28 04581931 bus:RegisteredOffice 2024-03-01 2025-02-28 04581931 bus:Director2 2024-03-01 2025-02-28 04581931 bus:PrivateLimitedCompanyLtd 2024-03-01 2025-02-28 04581931 core:FurnitureFittingsToolsEquipment 2024-03-01 2025-02-28 04581931 core:OfficeEquipment 2024-03-01 2025-02-28 04581931 core:OtherPropertyPlantEquipment 2024-03-01 2025-02-28 04581931 core:PlantMachinery 2024-03-01 2025-02-28 04581931 countries:EnglandWales 2024-03-01 2025-02-28 04581931 2024-02-29 04581931 core:FurnitureFittingsToolsEquipment 2024-02-29 04581931 core:OtherPropertyPlantEquipment 2024-02-29 04581931 2023-03-01 2024-02-29 04581931 2024-02-29 04581931 core:RetainedEarningsAccumulatedLosses 2024-02-29 04581931 core:ShareCapital 2024-02-29 04581931 core:CurrentFinancialInstruments 2024-02-29 04581931 core:CurrentFinancialInstruments core:WithinOneYear 2024-02-29 04581931 core:Non-currentFinancialInstruments core:AfterOneYear 2024-02-29 04581931 core:FurnitureFittingsToolsEquipment 2024-02-29 04581931 core:OtherPropertyPlantEquipment 2024-02-29 xbrli:pure iso4217:GBP

Registration number: 04581931

Rileys Watchmakers Ltd
Unaudited Financial Statements
for the Year Ended 28 February 2025

Rileys Watchmakers Ltd

Contents

Balance Sheet | 1 to 2
Notes to the Unaudited Financial Statements | 3 to 6

Rileys Watchmakers Ltd

(Registration number: 04581931)
Balance Sheet as at 28 February 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 7,668 | 10,155
Current assets |  |  |
Stocks | 5 | 16,469 | 18,486
Debtors | 6 | 19 | 20
Cash at bank and in hand |  | 1,008 | 9,488
|  | 17,496 | 27,994
Creditors: Amounts falling due within one year | 7 | (17,917) | (24,456)
Net current (liabilities)/assets |  | (421) | 3,538
Total assets less current liabilities |  | 7,247 | 13,693
Creditors: Amounts falling due after more than one year | 7 | (706) | (2,790)
Provisions for liabilities |  | (1,457) | (1,930)
Net assets |  | 5,084 | 8,973
Capital and reserves |  |  |
Called up share capital |  | 3 | 3
Retained earnings |  | 5,081 | 8,970
Shareholders' funds |  | 5,084 | 8,973

Rileys Watchmakers Ltd

(Registration number: 04581931)
Balance Sheet as at 28 February 2025

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

Director's responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland’.

Approved and authorised by the director on 28 October 2025

......................................... Mr K Riley Director

Rileys Watchmakers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
55 High Street
Cheadle
Staffordshire Moorlands
ST10 1AN

2 | Accounting policies

Summary of significant accounting policies and key accounting estimates

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

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Judgements

In the application of the company's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Rileys Watchmakers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at either cost or revalued amount, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Any revaluation increase is recognised in other comprehensive income.

Depreciation

Depreciation is charged so as to write off the cost of assets less residual value, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 25% reducing balance
Office equipment | 33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.
The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

3 | Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2024 - 1).

Rileys Watchmakers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

4 | Tangible assets

| Office equipment £ | Plant and equipment £ | Total £
Cost or valuation
At 1 March 2024 | 837 | 10,408 | 11,245
Additions | - | 255 | 255
At 28 February 2025 | 837 | 10,663 | 11,500
Depreciation
At 1 March 2024 | 279 | 811 | 1,090
Charge for the year | 279 | 2,463 | 2,742
At 28 February 2025 | 558 | 3,274 | 3,832
Carrying amount
At 28 February 2025 | 279 | 7,389 | 7,668
At 29 February 2024 | 558 | 9,597 | 10,155
Plant and equipment was revalued on a best estimate basis on 29 February 2024 by the director. Had this class of asset been measured on a historical cost basis, the carrying amount would have been £5,902 (2024: £7,614).

5 | Stocks

| 2025 £ | 2024 £
Stocks | 16,469 | 18,486

6 | Debtors

Current | 2025 £ | 2024 £
Other debtors | 19 | 20
| 19 | 20

Rileys Watchmakers Ltd

Notes to the Unaudited Financial Statements for the Year Ended 28 February 2025

7 | Creditors

Creditors: amounts falling due within one year

| 2025 £ | 2024 £
Due within one year |  |
Other borrowings | 4,476 | 2,032
Trade creditors | 903 | 1,474
Taxation and social security | 2,332 | 3,303
Other creditors | 10,206 | 17,647
| 17,917 | 24,456

Creditors: amounts falling due after more than one year

| 2025 £ | 2024 £
Due after one year |  |
Other borrowings | 706 | 2,790