A. F. Jones Stonemasons Limited - Accounts to registrar (filleted) - small 18.2
A. F. Jones Stonemasons Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 AUGUST 2018 |
| FOR |
| A. F. JONES STONEMASONS LIMITED |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| for the year ended 31 AUGUST 2018 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| A. F. JONES STONEMASONS LIMITED |
| COMPANY INFORMATION |
| for the year ended 31 AUGUST 2018 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 1 High Street |
| Thatcham |
| Berks |
| RG19 3JG |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| BALANCE SHEET |
| 31 AUGUST 2018 |
| 31.8.18 | 31.8.17 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Intangible assets | 4 |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
8 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 9 |
| Retained earnings | 10 |
| SHAREHOLDERS' FUNDS |
| 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. |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| BALANCE SHEET - continued |
| 31 AUGUST 2018 |
| 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 |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| NOTES TO THE FINANCIAL STATEMENTS |
| for the year ended 31 AUGUST 2018 |
| 1. | STATUTORY INFORMATION |
| A. F. Jones Stonemasons Limited is a |
| 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 |
| Turnover |
| Turnover represents net invoiced sales of goods and services, excluding value added tax. |
| Goodwill |
| 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 |
| Improvements to property | - |
| Plant and machinery | - |
| Motor vehicles | - |
| Office equipment | - |
| Stocks |
| Stocks and work in progress are valued at the lower of cost and net realisable value, after making due allowance |
| for obsolete and slow moving items. |
| Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in |
| bringing stocks to their present location and condition. |
| 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. |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2018 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 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 profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INTANGIBLE FIXED ASSETS |
| Goodwill |
| £ |
| COST OR VALUATION |
| At 1 September 2017 |
| and 31 August 2018 |
| AMORTISATION |
| At 1 September 2017 |
| Charge for year |
| Revaluation adjustments | ( |
) |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| The company has acquired, the large masonry contracts business, of A F Jones & E T Sheppard, a long |
| established stonemasonry, dating back to 1858. The large contracts business acquired, incorporates an enviable |
| customer base and reputation, in major stone work and construction contracts. The business encompasses, |
| carving, restorations, conservation and new build projects. |
| Cost or valuation at 31 August 2018 is represented by: |
| Goodwill |
| £ |
| Valuation in 2017 | (720,000 | ) |
| Cost | 2,000,000 |
| 1,280,000 |
| The company has reached agreement regarding a reduction in the cost of goodwill arising on an acquisition in |
| 2012 and this has been accounted for as an adjustment in respect of a prior year. There is a consequent reduction |
| in the creditor owed in connection with the original purchase. |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2018 |
| 5. | TANGIBLE FIXED ASSETS |
| Improvements |
| to | Plant and | Motor | Office |
| property | machinery | vehicles | equipment | Totals |
| £ | £ | £ | £ | £ |
| COST |
| At 1 September 2017 |
| Additions |
| At 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
| Plant and | Motor |
| machinery | vehicles | Totals |
| £ | £ | £ |
| COST |
| At 1 September 2017 |
| and 31 August 2018 |
| DEPRECIATION |
| At 1 September 2017 |
| Charge for year |
| At 31 August 2018 |
| NET BOOK VALUE |
| At 31 August 2018 |
| At 31 August 2017 |
| 6. | DEBTORS |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Amounts falling due within one year: |
| Trade debtors |
| Amounts recoverable on contract |
| Other debtors |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2018 |
| 6. | DEBTORS - continued |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Amounts falling due after more than one year: |
| Amounts recoverable on contract |
| Aggregate amounts |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.8.18 | 31.8.17 |
| £ | £ |
| Hire purchase contracts |
| Other creditors |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Loan from Director | 680,000 | 750,000 |
| 9. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.8.18 | 31.8.17 |
| value: | £ | £ |
| Ordinary | £1 | 20,000 | 20,000 |
| Non-Voting Ordinary | £1 | 925 | 850 |
| (31.8.17 - 850 ) |
| B Ordinary | £1 | 100 | 100 |
| C Ordinary | £1 | 100 | 100 |
| 21,125 | 21,050 |
| The following shares were issued during the year for cash at par : |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2018 |
| 10. | RESERVES |
| Retained |
| earnings |
| £ |
| At 1 September 2017 |
| Profit for the year |
| Dividends | ( |
) |
| At 31 August 2018 |
| 11. | LOANS FROM DIRECTORS |
| The company has benefited from the following loans from Directors. |
| Short term loans included in Other Creditors due with in one year. |
| 31.08.18 | 31.08.17 |
| £ | £ |
| A G Jones | 90,000 | 24,328 |
| K A Jones | 30,000 | 30,000 |
| Long term loan from A G Jones in connection with the acquisition of the business in 2012. |
| 31.08.18 | 31.08.17 |
| £ | £ |
| Included in Other Creditors due within one year | 39,182 | 35,733 |
| Included in Other Creditors due in more than one year | 680,000 | 750,000 |
| Total loan outstanding | £719,182 | £785,733 |
| Following agreement to a reduction in the valuation of goodwill acquired by the company, a corresponding |
| reduction in the amount of the loan owed to A G Jones has been reflected in the accounts as an adjustment for a |
| prior year. The loan amount outstanding has been reduced by £720,000. |
| 12. | RELATED PARTY DISCLOSURES |
| During the year, total dividends of £120,000 (2017 - £120,000) were paid to the directors . |
| A. F. JONES STONEMASONS LIMITED (REGISTERED NUMBER: 07112560) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| for the year ended 31 AUGUST 2018 |
| 12. | RELATED PARTY DISCLOSURES - continued |
| During the year the company entered into transactions with A G Jones T/A - A F Jones and E T Sheppard, a |
| business owned by a director, Mr A Jones. |
| The amounts were as follows: |
| 2018 | 2017 |
| £ | £ |
| Goods and services sold (Labour and materials recharged) | 9,845 | 9,934 |
| Costs recharged from A F Jones and E T Sheppard | 80,000 | 95,000 |
| At the Balance Sheet date the amount outstanding was £27,701 due from A G Jones T/A - A F Jones and E T |
| Sheppard (2017: 15,255). |
| The amounts are included on the Balance Sheet within Debtors. |
| The above transactions were carried out on normal commercial terms. |
| 13. | ULTIMATE CONTROLLING PARTY |
| Mr A G Jones controls the company by virtue of a controlling interest of 51% of the issued ordinary share |
| capital. |
| 2018 | 2017 |
| Mr A G Jones | 10,200 | 10,200 |
| Ms M L Alsop | 4,800 | 4,800 |
| Mr K Jones | 5,000 | 5,000 |