Reef Jewelry Ltd Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 07229813

Reef Jewelry Ltd

Filleted Unaudited Financial Statements

30 April 2025

Reef Jewelry Ltd

Statement of Financial Position

30 April 2025

	2025		2024
Note	£	£	£

Fixed assets

Tangible assets	6		20,330	10,733

Current assets

Stocks		184,716	185,166
Debtors	7	36,472	9,402
Cash at bank and in hand		43,436	20,011
		---------	---------
		264,624	214,579

Creditors: amounts falling due within one year	8	157,468		115,485
		---------		---------
Net current assets			107,156	99,094
			---------	---------
Total assets less current liabilities			127,486	109,827

Creditors: amounts falling due after more than one year	9		123,220	33,252

Provisions

Taxation including deferred tax	3,435	2,182
	---------	---------
Net assets	831	74,393
	---------	---------

Capital and reserves

Called up share capital	2	2
Profit and loss account	829	74,391
	----	--------
Shareholders funds	831	74,393
	----	--------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the 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 year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

Reef Jewelry Ltd

Statement of Financial Position (continued)

30 April 2025

These financial statements were approved by the board of directors and authorised for issue on 12 December 2025 , and are signed on behalf of the board by:

Mrs D Barbarovich	Mr P Barbarovich
Director	Director

Company registration number: 07229813

Reef Jewelry Ltd

Notes to the Financial Statements

Year ended 30 April 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 2 The Broadway, Bedford, MK40 2TH.

2. Statement of compliance

These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.

Operating leases

Lease payments are recognised as an expense over the lease term on a straight-line basis. The aggregate benefit of lease incentives is recognised as a reduction to expense over the lease term, on a straight-line basis. Lease income is recognised in profit or loss on a straight line basis over the lease term.

Goodwill

Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. Amortisation on the goodwill is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:

	Goodwill	-	10% straight line

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Leasehold property	-	10% straight line
Plant & machinery	-	27% reducing balance
Fixtures & fittings	-	27% reducing balance
Website	-	27% reducing balance

	Equipment	-	27% reducing balance

Stocks

Stocks are measured 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 the stock to its present location and condition.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 6 (2024: 6 ).

5. Intangible assets

	Goodwill
	£
Cost
At 1 May 2024 and 30 April 2025	35,000
	--------
Amortisation
At 1 May 2024 and 30 April 2025	35,000
	--------
Carrying amount
At 30 April 2025	–
	--------
At 30 April 2024	–
	--------

6. Tangible assets

	Land and buildings	Plant and machinery	Fixtures and fittings	Website	Equipment	Total
	£	£	£	£	£	£
Cost
At 1 May 2024	31,354	8,302	4,210	4,475	7,808	56,149
Additions	–	9,296	–	6,269	1,175	16,740
	--------	--------	-------	--------	-------	--------
At 30 Apr 2025	31,354	17,598	4,210	10,744	8,983	72,889
	--------	--------	-------	--------	-------	--------
Depreciation
At 1 May 2024	31,354	3,274	1,183	4,373	5,232	45,416
Charge for the year	–	2,946	817	1,795	1,585	7,143
	--------	--------	-------	--------	-------	--------
At 30 Apr 2025	31,354	6,220	2,000	6,168	6,817	52,559
	--------	--------	-------	--------	-------	--------
Carrying amount
At 30 Apr 2025	–	11,378	2,210	4,576	2,166	20,330
	--------	--------	-------	--------	-------	--------
At 30 Apr 2024	–	5,028	3,027	102	2,576	10,733
	--------	--------	-------	--------	-------	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	453	674
Other debtors	36,019	8,728
	--------	-------
	36,472	9,402
	--------	-------

8. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts	82,971	38,138
Trade creditors	37,753	24,979
Corporation tax	7,704	28,155
Social security and other taxes	24,529	20,238
Other creditors	4,511	3,975
	---------	---------
	157,468	115,485
	---------	---------

9. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts	123,220	33,252
	---------	--------

10. Other financial commitments

Total financial commitments which are not included in the balance sheet amount to £167,616 (2023 - £205,616).

11. Directors' advances, credits and guarantees

During the year the directors entered into the following advances and credits with the company:

	2025
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs D Barbarovich	–	13,295	13,295
Mr P Barbarovich	–	13,295	13,295
	----	--------	--------
	–	26,590	26,590
	----	--------	--------

	2024
	Balance brought forward	Advances/ (credits) to the directors	Balance outstanding
	£	£	£
Mrs D Barbarovich	–	–	–
Mr P Barbarovich	–	–	–
	----	----	----
	–	–	–
	----	----	----

The outstanding amount was repaid on 18 June 2025.