REGISTERED NUMBER: SC266272 (Scotland)

BRAZEN JEWELLERY LTD

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 28 FEBRUARY 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

S Raffel

G A Currie

REGISTERED OFFICE:

Atlantic Chambers (Rear)

1a Cadogan Street

Glasgow

G2 6QQ

REGISTERED NUMBER:

SC266272 (Scotland)

ACCOUNTANTS:

Benham Conway & Co

16 Royal Crescent

Glasgow

G3 7SL

FIXED ASSETS

Tangible assets

4

55,681

5,325

CURRENT ASSETS

Stocks

50,994

58,718

Debtors

5

5,948

7,702

Cash at bank

8,831

21,406

65,773

87,826

CREDITORS

Amounts falling due within one year

6

49,269

29,812

NET CURRENT ASSETS

16,504

58,014

TOTAL ASSETS LESS CURRENT LIABILITIES

72,185

63,339

CREDITORS

Amounts falling due after more than one year

7

(17,646

)

(450

)

PROVISIONS FOR LIABILITIES

(2,774

)

-

NET ASSETS

51,765

62,889

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

51,665

62,789

SHAREHOLDERS' FUNDS

51,765

62,889

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2025 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 Income Statement has not been delivered.

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

S Raffel - Director

1.	STATUTORY INFORMATION

Brazen Jewellery Ltd is a private company, limited by shares , registered in Scotland. 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

Tangible fixed assets

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

Freehold property

-

2% on cost

Plant and machinery

-

25% on reducing balance

Fixtures and fittings

-

25% on cost

Computer equipment

-

25% on cost

Stocks and work in progress

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments

Basic financial instruments, including trade and other payables, bank loans and other loans that are classified as debt, are initially recognised at transaction price and are subsequently carried at amortised cost, using the effective interest rate method.

Taxation

Taxation for the year comprises current tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current 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 the Income Statement in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 29 February 2024

-

43,906

43,906

Additions

41,438

15,615

57,053

At 28 February 2025

41,438

59,521

100,959

DEPRECIATION

At 29 February 2024

-

38,581

38,581

Charge for year

829

5,868

6,697

At 28 February 2025

829

44,449

45,278

NET BOOK VALUE

At 28 February 2025

40,609

15,072

55,681

At 28 February 2024

-

5,325

5,325

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

£

Trade debtors

-

5,967

Other debtors

4,746

35

Tax recoverable

1,202

1,700

5,948

7,702

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

28.2.25

28.2.24

£

£

Bank loans and overdrafts

7,354

-

Hire purchase contracts

450

599

Trade creditors

2,510

5,010

Taxation and social security

3,057

14,874

Other creditors

35,898

9,329

49,269

29,812

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

28.2.25

28.2.24

£

£

Bank loans

17,646

-

Hire purchase contracts

-

450

17,646

450

8.	SECURED DEBTS

The following secured debts are included within creditors:

28.2.25

28.2.24

£

£

Bank loans

25,000

-

A company director has provided a personal guarantee in respect of the bank loan.

9.	OTHER FINANCIAL COMMITMENTS