REGISTERED NUMBER: 11711226 (England and Wales)

BIBS POLISHERS LTD

Unaudited Financial Statements

for the Year Ended 28 February 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Directors:

H Benelbaida

G Tuijri

Registered office:

3rd Floor

86-90 Paul Street

London

EC2A 4NE

Registered number:

11711226 (England and Wales)

Accountants:

Cooper Parry Advisory Limited

Broadwalk House, 5th Floor

5 Appold Street

Broadgate

London

EC2A 2AG

Fixed assets

Intangible assets

4

932,931

1,052,029

Tangible assets

5

7,396

8,687

940,327

1,060,716

Current assets

Debtors

6

345,540

273,433

Cash at bank and in hand

70,654

-

416,194

273,433

Creditors

Amounts falling due within one year

7

387,018

227,297

Net current assets

29,176

46,136

Total assets less current liabilities

969,503

1,106,852

Capital and reserves

Called up share capital

9

2

2

Retained earnings

969,501

1,106,850

Shareholders' funds

969,503

1,106,852

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 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 26 May 2026 and were signed on its behalf by:

H Benelbaida - Director

1.	Statutory information

Bibs Polishers Ltd (''the company'') 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 financial statements are prepared in Sterling (£), which is the functional currency of the company. The financial statements are for prepared for the year ended 28 February 2025 (2024: year ended 28 February 2024).

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.

Going concern

At the balance sheet date, the company had a strong net asset position. At the time of approving the financial statements, the directors have considered the going concern position and have a reasonable expectation that with the continued support of the directors, if needed, the company has adequate resources to continue in operationg for the foreseeable future.

On that basis, the directors have prepared these financial statements on a going concern basis.

Turnover

Turnover is recognised to the extent that it is probable that the economic benefits will flow to the company and the turnover can be reliably measured. Turnover is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, Value Added Tax and other sales taxes.

Turnover from providing services is recognised when the amount of turnover can be measured reliably and it is probable that the company will receive the consideration due under the agreement terms.

Turnover from the sale of goods is recognised, on delivery of goods, when the company has transferred the significant risks and rewards to the consumer, amount of turnover can be measured reliably and that the company will receive the consideration due under the transaction.

Operating leases

Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the lease term.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of Bibs Polishers Jewellery Workshop LLP, is being amortised evenly over its estimated useful life of 10 years.

Tangible fixed assets

Tangible fixed assets under the cost model, other than investment properties, are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

At each reporting date the company assesses whether there is any indication of impairment. If such indication exists, the recoverable amount of the asset is determined which is the higher of its fair value less costs to sell and its value in use. An impairment loss is recognised where the carrying amount exceeds the recoverable amount.

The company adds to the carrying amount of an item of fixed assets the cost of replacing part of such an item when that cost is incurred, if the replacement part is expected to provide incremental future benefits to the company. The carrying amount of the replaced part is derecognised. Repairs and maintenance are charged to the Income Statement during the period in which they are incurred. Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives.

Depreciation is provided on the following basis:

Computer equipment - 33% on cost

Fixtures and fittings - 33% on cost

The assets' residual values, useful lives and depreciation methods are reviewed and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Income Statement.

Financial instruments

The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities such as trade and other debtors, creditors and loans with related parties.

All financial assets and liabilities are initially measured at transaction price and subsequently measured at amortised cost.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an assets' carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the company would receive for the asset if it were to be sold at the balance sheet date.

Pensions

The company contributes to defined contribution pension plans for its employees. A defined contribution pension plan is a plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.

The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in other creditors as a liability in the balance sheet. The assets of the pension plans are held separately from the company in independently administered funds.

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.

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 23 (2024 - 21 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1 March 2024

and 28 February 2025

1,190,977

Amortisation

At 1 March 2024

138,948

Amortisation for year

119,098

At 28 February 2025

258,046

Net book value

At 28 February 2025

932,931

At 29 February 2024

1,052,029

5.	Tangible fixed assets

Fixtures

Computer

and

equipment

fittings

Totals

£

£

£

Cost

At 1 March 2024

12,261

704

12,965

Additions

4,337

124

4,461

At 28 February 2025

16,598

828

17,426

Depreciation

At 1 March 2024

4,046

232

4,278

Charge for year

5,478

274

5,752

At 28 February 2025

9,524

506

10,030

Net book value

At 28 February 2025

7,074

322

7,396

At 29 February 2024

8,215

472

8,687

6.

Debtors: amounts falling due within one year

2025

2024

£

£

Trade debtors

174,611

243,297

Other debtors

170,929

30,136

345,540

273,433

7.

Creditors: amounts falling due within one year

2025

2024

£

£

Bank loans and overdrafts

3,070

-

Trade creditors

10,411

59,052

Taxation and social security

129,261

112,195

Other creditors

244,276

56,050

387,018

227,297

8.	Leasing agreements

Minimum lease payments under non-cancellable operating leases fall due as follows:

2025

2024

£

£

Within one year

1,000

-

Between one and five years

4,000

-

5,000

-

Operating leases is the note to enter the wording in "operating leases"

9.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

1

Ordinary

£1

1

1

1

Ordinary B

£1

1

1

2

2

The Ordinary and Ordinary B shares rank pari passu.

10.	Pension commitments

The company contributes to defined contribution pension schemes. The assets of the schemes are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the schemes and amounted to £11,043 (2024:£8,209).

Contributions totalling £2,412 (2024: £2,033) were payable to the schemes at the balance sheet date and are included in creditors.

11.	Transactions with directors

At the balance sheet date, included within other creditors is an amount of £239,431 (2024: £13,252 due from a director of the company and £55,000 due to a director of the company) due to the directors of the company.The amounts are interest-free and repayable on demand.