Company No: 04171087 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	4	658		920
		658		920
Current assets
Stocks	5	194,226		216,775
Debtors	6	9,830		9,955
Cash at bank and in hand	7	280,283		226,139
		484,339		452,869
Creditors: amounts falling due within one year	8	( 530,719)		( 520,832)
Net current liabilities		(46,380)		(67,963)
Total assets less current liabilities		(45,722)		(67,043)
Creditors: amounts falling due after more than one year	9	( 687,788)		( 687,788)
Net liabilities		( 733,510)		( 754,831)
Capital and reserves
Called-up share capital	10	2		2
Profit and loss account		( 733,512 )		( 754,833 )
Total shareholders' deficit		( 733,510)		( 754,831)

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

Directors' responsibilities:

• The members have not required the company to obtain an audit of its financial statements for the financial year 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; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of Sophia Jewellers Limited (registered number: 04171087) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

D R Ben-Harosh Director

03 July 2026

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Sophia Jewellers Limited (the company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 35 Ballards Lane, London, N3 1XW, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors note that the business has net liabilities of £733,510. The company is supported through loans from the directors. The directors have confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the directors will continue to support the company. Given the current position, the directors believe that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Goodwill

20 years straight line

Goodwill

Goodwill arises on business combination and represents any excess of consideration given over the fair value of the identifiable assets and liabilities acquired. Goodwill is initially recognised as an intangible asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised on a straight line basis over its useful economic life, which is [number] years.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

7 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

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.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Statement of Income and Retained Earnings as described below.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the company during the year, including directors	4		6

3. Intangible assets

	Goodwill		Total
	£		£
Cost
At 01 September 2024	230,000		230,000
At 31 August 2025	230,000		230,000
Accumulated amortisation
At 01 September 2024	230,000		230,000
At 31 August 2025	230,000		230,000
Net book value
At 31 August 2025	0		0
At 31 August 2024	0		0

4. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 September 2024	114,479		114,479
Additions	104		104
At 31 August 2025	114,583		114,583
Accumulated depreciation
At 01 September 2024	113,559		113,559
Charge for the financial year	366		366
At 31 August 2025	113,925		113,925
Net book value
At 31 August 2025	658		658
At 31 August 2024	920		920

5. Stocks

	2025		2024
	£		£
Stocks	194,226		216,775

6. Debtors

	2025		2024
	£		£
Trade debtors	92		0
Other debtors	9,738		9,955
	9,830		9,955

7. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	280,283		226,139

8. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	35,451		31,350
Other taxation and social security	5,133		10,073
Other creditors	490,135		479,409
	530,719		520,832

9. Creditors: amounts falling due after more than one year

	2025		2024
	£		£
Other creditors	687,788		687,788

The above loan is secured by a fixed and floating charge over the company's properties assets.

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
2 Ordinary shares of £ 1.00 each	2		2

11. Financial commitments

Commitments

Total future minimum lease payments under non-cancellable operating leases are as follows:

	2025		2024
	£		£
After five years	27,797		27,797

12. Related party transactions

Transactions with the entity's directors

	2025		2024
	£		£
Loan from director	687,788		687,788

At balance sheet date the company owed the director an amount of £687,788 (2024: £687,788). Interest is charged on this loan amount.