REGISTERED NUMBER: 01290871 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 March 2025

for

Gus Jones (Jewellers) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

M N Jones

H K Prewecki

P M Jones

M K Jones

SECRETARY:

H K Prewecki

REGISTERED OFFICE:

21 Gold Tops

Newport

South Wales

NP20 4PG

REGISTERED NUMBER:

01290871 (England and Wales)

ACCOUNTANTS:

Guilfoyle Sage LLP

21 Gold Tops

Newport

South Wales

NP20 4PG

FIXED ASSETS

Tangible assets

5

328,834

351,989

Investment property

6

65,000

65,000

393,834

416,989

CURRENT ASSETS

Stocks

779,821

795,097

Debtors

7

19,522

24,988

Cash at bank and in hand

209,800

178,718

1,009,143

998,803

CREDITORS

Amounts falling due within one year

8

134,865

154,995

NET CURRENT ASSETS

874,278

843,808

TOTAL ASSETS LESS CURRENT LIABILITIES

1,268,112

1,260,797

PROVISIONS FOR LIABILITIES

-

732

NET ASSETS

1,268,112

1,260,065

CAPITAL AND RESERVES

Called up share capital

10

100

100

Retained earnings

1,268,012

1,259,965

SHAREHOLDERS' FUNDS

1,268,112

1,260,065

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 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 December 2025 and were signed on its behalf by:

M N Jones - Director

1.	STATUTORY INFORMATION

Gus Jones (Jewellers) Limited is a private company, limited by shares and is incorporated in England and Wales. The company's registered number is 01290871, the address of its registered office is 21 Gold Tops, Newport, NP20 4PG.

The nature of the company's operations and principal activity is the retail sale of watches and jewellery in specialised stores and via the internet.

These financial statements are the company's separate financial statements, covering the year to 31 March 2025 and are presented in Sterling (£), the company's functional currency, rounded to the nearest pound.

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

2.	STATEMENT OF COMPLIANCE

The individual financial statements of Gus Jones (Jewellers) Limited have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable net of VAT and trade discounts.

Turnover from the sale of goods is recognised when significant risks and rewards of ownership of the goods have been transferred to the buyer, the amount of turnover can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the company and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

Tangible fixed assets

Tangible fixed assets are stated at cost less accumulated depreciation. Cost includes costs directly attributable to making the asset capable of operating as intended.

Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset on a systematic basis over its expected useful life as follows:

Freehold property - 2% on cost

Fixtures and fittings - 10% on cost

Motor vehicles - 20% on cost

Investment property

Investment property is carried at fair value determined by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the profit and loss account.

Stocks

Stocks are stated at the lower of cost and estimated selling price. Cost includes all costs of purchase and other costs incurred in bringing stock to its present location and condition. Cost is calculated using the first-in, first-out formula. Provision is made for damaged, obsolete and slow-moving stock where appropriate.

Financial instruments

Financial assets and financial liabilities are recognised in the company's balance sheet when the company becomes a party to the contractual provisions of the instrument.

Non-derivative financial instruments comprise trade and other debtors, cash and cash equivalents, trade and other creditors and interest free loans.

Debtors and creditors with no stated interest rate are receivable or payable within one year and are recorded at transaction price. Any losses arising from impairment are recognised in expenditure.

Cash and cash equivalents comprise cash at bank and in hand.

Loans and borrowings and concessionary loans are initially recognised at transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method less impairment. If an arrangement constitutes a finance transaction it is measured at present value. Loans and borrowings receivable within one year are not discounted.

Taxation

Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Pension costs represent payments made to employees' personal pension plans in the period, together with payments to a defined contribution scheme for directors.

Contributions payable in the year are charged to the profit and loss account in the period to which they relate.

Debtors and creditors receivable/payable within one year

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 20 (2024 - 25 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

729,817

318,676

1,048,493

Additions

-

4,425

4,425

At 31 March 2025

729,817

323,101

1,052,918

DEPRECIATION

At 1 April 2024

420,739

275,765

696,504

Charge for year

14,265

13,315

27,580

At 31 March 2025

435,004

289,080

724,084

NET BOOK VALUE

At 31 March 2025

294,813

34,021

328,834

At 31 March 2024

309,078

42,911

351,989

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

and 31 March 2025

65,000

NET BOOK VALUE

At 31 March 2025

65,000

At 31 March 2024

65,000

Fair value at 31 March 2025 is represented by:

£

Valuation in 2017

32,700

Valuation in 2023

5,000

Cost

27,300

65,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Other debtors

19,522

24,988

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade creditors

38,344

38,664

Taxation and social security

34,000

45,922

Other creditors

62,521

70,409

134,865

154,995

9.	SECURED DEBTS

The bank overdraft which subsists from time to time is secured by fixed and floating charges over the undertaking and all property and assets present and future including goodwill, book debts, uncalled capital, buildings, fixtures and fixed plant and machinery.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

100

Ordinary shares

£1

100

100

11.	RELATED PARTY DISCLOSURES

At the year end, included in creditors is the sum of £22,755 (2024:£22,755) owed to key management

personnel. There is no fixed repayment date on these balances and no interest has been charged.