Cornerstone Jewellers (Bolsover) Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07313968 (England and Wales)

CORNERSTONE JEWELLERS (BOLSOVER) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

31 JULY 2023

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

6

DIRECTORS:

S Dungworth

Ms L Barratt

REGISTERED OFFICE:

Sidings House

Sidings Court

Lakeside

Doncaster

South Yorkshire

DN4 5NU

REGISTERED NUMBER:

07313968 (England and Wales)

FIXED ASSETS

Tangible assets

4

284

484

CURRENT ASSETS

Stocks

52,880

59,920

Debtors

5

155

122

Cash at bank

5,759

2,288

58,794

62,330

CREDITORS

Amounts falling due within one year

6

46,202

46,408

NET CURRENT ASSETS

12,592

15,922

TOTAL ASSETS LESS CURRENT LIABILITIES

12,876

16,406

CREDITORS

Amounts falling due after more than one year

7

(6,563

)

(10,163

)

PROVISIONS FOR LIABILITIES

(54

)

(92

)

NET ASSETS

6,259

6,151

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

6,159

6,051

SHAREHOLDERS' FUNDS

6,259

6,151

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 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 28 February 2024 and were signed on its behalf by:

S Dungworth - Director

1.	STATUTORY INFORMATION

Cornerstone Jewellers (Bolsover) 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.

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 etc

-

25% on reducing balance and Straight line over 3 years

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.

Grants

Grant income relating to revenue is recognised on an accruals basis. Income is recognised on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate. A grant that becomes receivable as compensation for expenses or losses already incurred for the purpose of giving immediate financial support with no future related costs is recognised in income in the period in which it becomes receivable.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 August 2022

and 31 July 2023

1,853

DEPRECIATION

At 1 August 2022

1,369

Charge for year

200

At 31 July 2023

1,569

NET BOOK VALUE

At 31 July 2023

284

At 31 July 2022

484

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Other debtors

155

122

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Bank loans and overdrafts

3,600

3,600

Trade creditors

17,004

13,795

Taxation and social security

2,686

2,310

Other creditors

22,912

26,703

46,202

46,408

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Bank loans

6,563

10,163

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Cornerstone Jewellers (Bolsover) Limited for the year ended 31 July 2023 which comprise the Profit and Loss Account, Statement of Financial Position, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Cornerstone Jewellers (Bolsover) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Cornerstone Jewellers (Bolsover) Limited and state those matters that we have agreed to state to the Board of Cornerstone Jewellers (Bolsover) Limited, as a body, in this report. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Cornerstone Jewellers (Bolsover) Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Cornerstone Jewellers (Bolsover) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Cornerstone Jewellers (Bolsover) Limited. You consider that Cornerstone Jewellers (Bolsover) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Cornerstone Jewellers (Bolsover) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

28 February 2024