Daniel Jewellery Limited - Accounts to registrar (filleted) - small 18.1

REGISTERED NUMBER: 09460963 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2018

FOR

DANIEL JEWELLERY LIMITED

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

3

DIRECTOR:

C Thompson

REGISTERED OFFICE:

35 Bugsby Way

Kesgrave

Ipswich

Suffolk

IP5 2WX

REGISTERED NUMBER:

09460963 (England and Wales)

ACCOUNTANTS:

Ballams

Chartered Accountants

Crane Court

302 London Road

Ipswich

Suffolk

IP2 0AJ

CURRENT ASSETS

Stocks

4,176

6,880

Cash at bank and in hand

1,113

4,306

5,289

11,186

CREDITORS

Amounts falling due within one year

4

18,820

18,814

NET CURRENT LIABILITIES

(13,531

)

(7,628

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(13,531

)

(7,628

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(13,631

)

(7,728

)

SHAREHOLDERS' FUNDS

(13,531

)

(7,628

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 director on 9 May 2018 and were signed by:

C Thompson - Director

1.	STATUTORY INFORMATION

Daniel Jewellery 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for

obsolete and slow moving items.

Financial instruments

The company only enters into basic financial instruments transactions that result in the recognition of

financial assets and liabilities like trade and other accounts receivable and payable and loans with

related parties.

Debt instruments that are payable or receivable within one year, such as trade payables or receivables,

are measured at the undiscounted amount of the cash or other consideration expected to be paid or

received. Debt instruments that are repayable or receivable after one year are initially measured at the

present value of the future cash flows and subsequently at amortised cost using the effective interest

method.

Financial assets that are measured at cost and amortised cost are assessed at the end of each financial

year for evidence of impairment. If objective evidence of impairment is found an impairment loss is

recognised in the Income Statement.

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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period

of the lease.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2017 - 1 ) .

4.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Directors' current accounts

18,520

18,514

Accrued expenses

300

300

18,820

18,814

5.	GOING CONCERN

Although the company has net current liabilities of £13,531 (2017 - £7,628), included in creditors due

within 1 year is a loan from the director, Mr C Thompson of £18,520 (2017 - £18,514). The director,

Mr C Thompson, has given his continued support to the company and therefore considers it

appropriate to prepare the financial statements on a going concern basis.