REGISTERED NUMBER: 06402403 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 April 2017

for

M & M Jewellery (Goldsmiths) Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

MW Corbin

C Corbin

SECRETARY:

C Corbin

REGISTERED OFFICE:

97 Mortimer Street

Herne Bay

Kent

CT6 5ER

REGISTERED NUMBER:

06402403 (England and Wales)

ACCOUNTANTS:

Accountancy Matters (Kent) Limited

Chartered Certified Accountants

31 Queen Street

Ramsgate

Kent

CT11 9DZ

FIXED ASSETS

Intangible assets

4

19,000

38,000

Tangible assets

5

70,367

88,540

89,367

126,540

CURRENT ASSETS

Stocks

335,000

334,000

Debtors

6

36,563

24,433

Cash at bank and in hand

27,120

36,039

398,683

394,472

CREDITORS

Amounts falling due within one year

7

329,779

118,311

NET CURRENT ASSETS

68,904

276,161

TOTAL ASSETS LESS CURRENT LIABILITIES

158,271

402,701

CREDITORS

Amounts falling due after more than one year

8

-

(271,035

)

PROVISIONS FOR LIABILITIES

(13,387

)

(17,706

)

NET ASSETS

144,884

113,960

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

144,784

113,860

SHAREHOLDERS' FUNDS

144,884

113,960

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2017.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2017 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 of Part 15 of the Companies Act 2006 relating to small companies.

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 on 27 September 2017 and were signed on its behalf by:

MW Corbin - Director

C Corbin - Director

1.	STATUTORY INFORMATION

M & M Jewellery (Goldsmiths) 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 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.

Significant judgements and estimates

Other than the estimation of the closing stock figure, there are no other significant

judgements and estimates that the directors have had to make in preparing the financial

statements.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding

discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are

measured at cost less any accumulated amortisation and any accumulated impairment

losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery etc

-

25% on cost, 20% on cost and 20% on reducing balance

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 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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the

balance sheet. Those held under hire purchase contracts are depreciated over their

estimated useful lives. Those held under finance leases are depreciated over their

estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period.

The capital element of the future payments is treated as a liability.

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 8 (2016 - 8 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 May 2016

and 30 April 2017

190,000

AMORTISATION

At 1 May 2016

152,000

Charge for year

19,000

At 30 April 2017

171,000

NET BOOK VALUE

At 30 April 2017

19,000

At 30 April 2016

38,000

5.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2016

124,533

Additions

944

Disposals

(2,242

)

At 30 April 2017

123,235

DEPRECIATION

At 1 May 2016

35,993

Charge for year

19,016

Eliminated on disposal

(2,141

)

At 30 April 2017

52,868

NET BOOK VALUE

At 30 April 2017

70,367

At 30 April 2016

88,540

Fixed assets, included in the above, which are held under hire purchase contracts are as

follows:

Plant and

machinery

etc

£

COST

At 1 May 2016

and 30 April 2017

104,605

DEPRECIATION

At 1 May 2016

22,664

Charge for year

16,388

At 30 April 2017

39,052

NET BOOK VALUE

At 30 April 2017

65,553

At 30 April 2016

81,941

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Trade debtors

27,760

15,096

Other debtors

8,803

9,337

36,563

24,433

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts (see note 9)

21,035

21,035

Trade creditors

13,821

14,819

Taxation and social security

31,601

39,864

Other creditors

263,322

42,593

329,779

118,311

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

30.4.17

30.4.16

£

£

Hire purchase contracts (see note 9)

-

21,035

Other creditors

-

250,000

-

271,035

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

30.4.17

30.4.16

£

£

Gross obligations repayable:

Within one year

22,531

22,531

Between one and five years

-

21,035

22,531

43,566

Finance charges repayable:

Within one year

1,496

1,496

Net obligations repayable:

Within one year

21,035

21,035

Between one and five years

-

21,035

21,035

42,070

Non-cancellable

operating leases

30.4.17

30.4.16

£

£

Within one year

11,000

-

Between one and five years

-

22,000

11,000

22,000

10.	FIRST YEAR ADOPTION

On the adoption of FRS 102 there are no changes required to the comparative figures.