REGISTERED NUMBER: 07589074 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

K Bassam Jewellery Services Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

K P Bassam

SECRETARY:

K P Bassam

REGISTERED OFFICE:

Court Chambers

Court Street

Stourbridge

Worcestershire

DY8 1EF

REGISTERED NUMBER:

07589074 (England and Wales)

ACCOUNTANTS:

Pinfields Limited

Chartered Accountants

Meryll House

57 Worcester Road

Bromsgrove

Worcestershire

B61 7DN

FIXED ASSETS

Intangible assets

4

22,000

44,000

Tangible assets

5

25,141

14,973

47,141

58,973

CURRENT ASSETS

Stocks

213,998

234,619

Debtors

6

45,708

14,531

Cash at bank and in hand

157,535

37,541

417,241

286,691

CREDITORS

Amounts falling due within one year

7

122,164

68,140

NET CURRENT ASSETS

295,077

218,551

TOTAL ASSETS LESS CURRENT LIABILITIES

342,218

277,524

CREDITORS

Amounts falling due after more than one year

8

(1,665

)

(11,665

)

PROVISIONS FOR LIABILITIES

9

(6,285

)

(3,743

)

NET ASSETS

334,268

262,116

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

334,168

262,016

SHAREHOLDERS' FUNDS

334,268

262,116

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 23 December 2025 and were signed by:

K P Bassam - Director

1.	STATUTORY INFORMATION

K Bassam Jewellery Services Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

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

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of fifteen years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

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

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on reducing balance

Stocks

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

Taxation

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

Current or deferred 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 profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2024 - 11 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

330,000

AMORTISATION

At 1 April 2024

286,000

Amortisation for year

22,000

At 31 March 2025

308,000

NET BOOK VALUE

At 31 March 2025

22,000

At 31 March 2024

44,000

5.	TANGIBLE FIXED ASSETS

Fixtures

and

Motor

Computer

fittings

vehicles

equipment

Totals

£

£

£

£

COST

At 1 April 2024

29,017

55,442

15,028

99,487

Additions

4,950

-

12,799

17,749

At 31 March 2025

33,967

55,442

27,827

117,236

DEPRECIATION

At 1 April 2024

22,103

49,891

12,520

84,514

Charge for year

2,660

1,388

3,533

7,581

At 31 March 2025

24,763

51,279

16,053

92,095

NET BOOK VALUE

At 31 March 2025

9,204

4,163

11,774

25,141

At 31 March 2024

6,914

5,551

2,508

14,973

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

45,708

14,531

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans and overdrafts

10,000

10,000

Trade creditors

8,175

-

Taxation and social security

54,746

29,334

Other creditors

49,243

28,806

122,164

68,140

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Bank loans

1,665

11,665

9.	PROVISIONS FOR LIABILITIES

31.3.25

31.3.24

£

£

Deferred tax

6,285

3,743

Deferred

tax

£

Balance at 1 April 2024

3,743

Accelerated capital allowances

2,542

Balance at 31 March 2025

6,285