REGISTERED NUMBER: 08209771 (England and Wales)

Financial Statements for the Year Ended 31 December 2024

for

Sharif Jewellers Ltd.

Page

Balance Sheet

1

Notes to the Financial Statements

3

Fixed assets

Tangible assets

4

10,008

13,343

Current assets

Stocks

5

276,208

276,210

Debtors

6

1,270

6,130

Cash at bank

13,988

26,924

291,466

309,264

Creditors

Amounts falling due within one year

7

(179,652

)

(217,226

)

Net current assets

111,814

92,038

Total assets less current liabilities

121,822

105,381

Creditors

Amounts falling due after more than one year

8

(13,290

)

(23,702

)

Net assets

108,532

81,679

Capital and reserves

Called up share capital

100

100

Retained earnings

108,432

81,579

Shareholders' funds

108,532

81,679

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 31 December 2025 and were signed on its behalf by:

Ahsan Kamran - Director

Miss Tehmina Ahmad - Director

1.	Statutory information

Sharif Jewellers Ltd. is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

08209771

Registered office:

28 London Road

Morden

Surrey

SM4 5BQ

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.

Tangible fixed assets

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

Plant and machinery

-

20% Straight line on cost

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 Income Statement, 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.

3.	Employees and directors

The average number of employees during the year was 4 (2023 - 3 ) .

4.	Tangible fixed assets

Fixtures

Plant and

and

machinery

fittings

Totals

£

£

£

Cost

At 1 January 2024

and 31 December 2024

47,720

6,604

54,324

Depreciation

At 1 January 2024

38,595

2,386

40,981

Charge for year

2,281

1,054

3,335

At 31 December 2024

40,876

3,440

44,316

Net book value

At 31 December 2024

6,844

3,164

10,008

At 31 December 2023

9,125

4,218

13,343

5.

Stocks

31.12.24

31.12.23

£

£

Finished goods

276,208

276,210

6.

Debtors: amounts falling due within one year

31.12.24

31.12.23

£

£

Trade debtors

1,270

6,130

7.

Creditors: amounts falling due within one year

31.12.24

31.12.23

£

£

Trade creditors

174,004

164,660

Tax

4,492

-

VAT

1,156

2,877

Other creditors

-

49,689

179,652

217,226

8.

Creditors: amounts falling due after more than one year

31.12.24

31.12.23

£

£

Bank loans (see note 9)

13,290

23,702

9.

Loans

An analysis of the maturity of loans is given below:

31.12.24

31.12.23

£

£

Amounts falling due between one and two years:

Bank loans - 1-2 years

13,290

23,702