The Company of Master Jewellers Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01488011 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2026

FOR

THE COMPANY OF MASTER JEWELLERS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Aldridge

P R Simpkins

Ms J Lockwood

Mrs G Murphy

J Neville

J P Allum

SECRETARY:

R Lewis

REGISTERED OFFICE:

Somers House

25 Somers Road

Rugby

Warwickshire

CV22 7DG

REGISTERED NUMBER:

01488011 (England and Wales)

AUDITORS:

Dafferns Audit Limited

Statutory Auditor

One Eastwood

Harry Weston Road

Binley Business Park

Coventry

CV3 2UB

FIXED ASSETS

Intangible assets

5

-

323,171

Tangible assets

6

253,452

262,873

253,452

586,044

CURRENT ASSETS

Debtors

7

5,778,621

5,049,964

Cash at bank

2,164,873

2,234,209

7,943,494

7,284,173

CREDITORS

Amounts falling due within one year

8

5,835,172

5,285,776

NET CURRENT ASSETS

2,108,322

1,998,397

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,361,774

2,584,441

CAPITAL AND RESERVES

Called up share capital

9

358,500

Share premium

10

278,013

267,213

Revaluation reserve

10

202,892

Capital redemption reserve

10

233,906

215,906

Retained earnings

10

1,288,463

1,539,930

SHAREHOLDERS' FUNDS

2,361,774

2,584,441

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 28 July 2026 and were signed on its behalf by:

M Aldridge - Director

1.	STATUTORY INFORMATION

The Company of Master Jewellers Limited 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 presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

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

The company acts as a negotiating and paying agent for its group of retail jeweller members. Turnover represents the commission earned by the company from suppliers on purchases made by CMJ members.

Commissions are recognised when the right to consideration has been earned and where the economic benefits to members are accrued evenly during the year on supplier contracts, commissions are spread evenly throughout the year.

Intangible assets

Intangible assets are recognised at cost and subsequently measured under the historical cost model, being cost less accumulated depreciation and any accumulated impairment losses.

All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.

Amortisation is charged to the Income Statement on a straight line basis over the estimated useful lives of the intangible assets. Intangible assets are amortised from the date they are available to use, as yet this date has not been reached, therefore no amortisation has been charged to date.

Tangible fixed assets

Tangible fixed assets are recognised at cost and subsequently measured under the historical cost model being cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes any direct expenditure incurred to bring the asset to its current location and condition necessary for the asset to work as intended by management.

Repairs and maintenance costs are charged to the Income Statement in the period in which they are incurred.

Depreciation is calculated so as to write off the cost of tangible fixed assets by equal installments over their estimated useful lives as follows:-

Land and buildings

- 2% on cost / valuation

Fixtures and fittings

- 25% & 33% on cost

Computer equipment

- 33% on cost

Any gains and losses on the disposal of tangible fixed assets are recognised in the Income Statement in the year that the disposal takes place.

Freehold property is shown and depreciated based on its most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in other comprehensive income.

Financial instruments

Basic financial assets, which include trade and other debtors and cash and bank balances, are initially measured at transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the financial asset in measured at the present value of the future receipts discounted at a market rate of interest.

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.

Foreign currencies

Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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 the Income Statement in the period to which they relate.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 16 (2025 - 17 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 April 2025

323,171

Disposals

(323,171

)

At 31 March 2026

-

NET BOOK VALUE

At 31 March 2026

-

At 31 March 2025

323,171

6.	TANGIBLE FIXED ASSETS

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

COST OR VALUATION

At 1 April 2025

265,000

103,224

97,924

466,148

Additions

-

3,505

-

3,505

Disposals

-

(8,980

)

-

(8,980

)

At 31 March 2026

265,000

97,749

97,924

460,673

DEPRECIATION

At 1 April 2025

15,900

89,451

97,924

203,275

Charge for year

5,300

7,565

-

12,865

Eliminated on disposal

-

(8,919

)

-

(8,919

)

At 31 March 2026

21,200

88,097

97,924

207,221

NET BOOK VALUE

At 31 March 2026

243,800

9,652

-

253,452

At 31 March 2025

249,100

13,773

-

262,873

Cost or valuation at 31 March 2026 is represented by:

Fixtures

Freehold

and

Computer

property

fittings

equipment

Totals

£

Valuation in 2004

78,545

-

78,545

Valuation in 2010

17,317

-

17,317

Valuation in 2015

12,683

-

12,683

Valuation in 2017

35,000

-

35,000

Valuation in 2019

5,000

-

5,000

Cost

116,455

97,749

97,924

312,128

265,000

97,749

97,924

460,673

If freehold property had not been revalued it would have been included at the following historical cost:

2026

2025

£

Cost

116,455

Aggregate depreciation

88,506

86,177

Value of land in freehold land and buildings

225,000

Freehold property was valued on an open market basis on 28 March 2022 by George and Company (Surveyors) Limited. No formal valuation took place in the current year, the Directors of the company are of the opinion that the current valuation remains accurate and appropriate.

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

5,516,420

4,936,427

Tax

-

439

Deferred tax asset

101,000

34,000

Prepayments and accrued income

161,201

79,098

5,778,621

5,049,964

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade creditors

5,711,566

5,064,131

Social security and other taxes

17,164

24,334

VAT

17,160

60,185

Other creditors

36,172

43,403

Accruals and deferred income

52,601

92,707

Deferred government grants

509

1,016

5,835,172

5,285,776

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

358,500

Ordinary

£1

358,500

10.

RESERVES

Capital

Retained

Share

Revaluation

redemption

earnings

premium

reserve

Totals

£

At 1 April 2025

1,539,930

267,213

202,892

215,906

2,225,941

Deficit for the year

(222,667

)

(222,667

)

Premium on shares issued in

year

-

10,800

-

10,800

Purchase of own shares

(10,800

)

-

(10,800

)

Transfer to capital redemption

reserve

(18,000

)

-

18,000

-

At 31 March 2026

1,288,463

278,013

202,892

233,906

2,003,274

11.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

David Halkett FCCA (Senior Statutory Auditor)

for and on behalf of Dafferns Audit Limited

12.	OTHER FINANCIAL COMMITMENTS

Total financial commitments and guarantees which are not included in the balance sheet amount to £19,730 (2025: £36,850).

13.	RELATED PARTY DISCLOSURES

As described in the directors report the shareholders consist of a group of retail jewellers who exploit their combined buying power and marketing potential for their mutual benefit. The board of directors are elected from the shareholders to manage the affairs of the company by holding periodic board meetings, therefore the directors are not involved on a day to day basis. The shareholders, including the directors, as retail jewellers make purchases through the company and form part of the trade debtors of the company. All transactions with the shareholders are at arms length under normal trading terms and conditions and therefore no separate disclosure of these transactions is considered to be appropriate in these financial statements.