Company registration number 02043277 (England and Wales)
World Jewellery Limited
Unaudited Financial Statements
For the year ended 31 August 2025
World Jewellery Limited
Contents
Page
Statement of financial position
1
Notes to the financial statements
2 - 5
World Jewellery Limited
Statement of financial position
As at 31 August 2025
31 August 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
259
323
Current assets
Stocks
329,868
323,342
Debtors
4
42,982
44,777
Cash at bank and in hand
220,649
191,599
593,499
559,718
Creditors: amounts falling due within one year
5
(201,755)
(166,502)
Net current assets
391,744
393,216
Net assets
392,003
393,539
Capital and reserves
Called up share capital
102
102
Profit and loss reserves
391,901
393,437
Total equity
392,003
393,539

For the financial year ended 31 August 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

T he 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 Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The directors of the company have elected not to include a copy of the income statement within the financial statements.true

The financial statements were approved by the board of directors and authorised for issue on 18 March 2026 and are signed on its behalf by:
Miss L A Johnson
Director
Company registration number 02043277 (England and Wales)
World Jewellery Limited
Notes to the financial statements
For the year ended 31 August 2025
- 2 -
1
Accounting policies
Company information

World Jewellery Limited is a private company limited by shares incorporated in England and Wales. The registered office is Church Court, Stourbridge Road, Halesowen, West Midlands, B63 3TT.

1.1
Basis of preparation

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Revenue

Revenue comprises sales of goods or services provided to customers net of value added tax and other sales taxes, less an appropriate deduction for actual and expected returns and discounts. Revenue is recognised when performance obligations are satisfied and the control of goods or services is transferred to the buyer. Where the performance obligation is satisfied over time, revenue is recognised in accordance with its progress towards complete satisfaction of that performance obligation.

When cash inflows are deferred and represent a financing arrangement, the promised consideration is adjusted for the effects of the time value of money, which is recognised as interest income.

The nature, timing of satisfaction of performance obligations and significant payment terms of the company's major sources of revenue are as follows:

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on despatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
20% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

World Jewellery Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
1
Accounting policies
(Continued)
- 3 -
1.4
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the income statement because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the income statement, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.6
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

World Jewellery Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 4 -
2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2025
2024
Number
Number
Total
9
8
3
Tangible fixed assets
Fixtures and fittings
£
Cost
At 1 September 2024
101,874
Additions
250
At 31 August 2025
102,124
Depreciation and impairment
At 1 September 2024
101,551
Depreciation charged in the year
314
At 31 August 2025
101,865
Carrying amount
At 31 August 2025
259
At 31 August 2024
323
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
36,000
39,000
Other debtors
6,982
5,777
42,982
44,777
World Jewellery Limited
Notes to the financial statements (continued)
For the year ended 31 August 2025
- 5 -
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
5,473
1,827
Corporation tax
34,044
19,300
Other taxation and social security
7,288
7,393
Other creditors
154,950
137,982
201,755
166,502
6
Related party transactions
Transactions with related parties

During the year the company entered into the following transactions with related parties:

- the amount owed to the directors at the end of the year was £91,128 (2024 - £94,587).

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