G D Jones And Son Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07034367 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2019

FOR

G D JONES AND SON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

Report of the Accountants

6

DIRECTOR:

M D Jones

SECRETARY:

REGISTERED OFFICE:

The Fuel Depot

Industrial Estate

Gaerwen

Ynys Mon

LL60 6HR

REGISTERED NUMBER:

07034367 (England and Wales)

ACCOUNTANTS:

R. Lunt Roberts & Co.

75A High Street

Bangor

Gwynedd

LL57 1NR

FIXED ASSETS

Intangible assets

4

849,000

810,000

Tangible assets

5

599,116

493,503

1,448,116

1,303,503

CURRENT ASSETS

Stocks

139,820

89,703

Debtors

6

1,022,855

924,344

Cash at bank and in hand

1,092,946

1,181,837

2,255,621

2,195,884

CREDITORS

Amounts falling due within one year

7

2,647,267

2,695,306

NET CURRENT LIABILITIES

(391,646

)

(499,422

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,056,470

804,081

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

1,056,170

803,781

SHAREHOLDERS' FUNDS

1,056,470

804,081

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2019 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 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 director on 25 September 2019 and were signed by:

M D Jones - Director

1.	STATUTORY INFORMATION

G D Jones And Son Ltd 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.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2012, is being amortised evenly over its estimated useful life of twenty 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.

Plant and machinery etc

-

25% on reducing balance and 10% 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 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

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 8 (2018 - 4 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2018

900,000

Additions

105,000

At 31 March 2019

1,005,000

AMORTISATION

At 1 April 2018

90,000

Charge for year

66,000

At 31 March 2019

156,000

NET BOOK VALUE

At 31 March 2019

849,000

At 31 March 2018

810,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2018

153,978

750,831

904,809

Additions

-

225,028

225,028

Disposals

-

(16,000

)

(16,000

)

At 31 March 2019

153,978

959,859

1,113,837

DEPRECIATION

At 1 April 2018

-

411,306

411,306

Charge for year

-

103,415

103,415

At 31 March 2019

-

514,721

514,721

NET BOOK VALUE

At 31 March 2019

153,978

445,138

599,116

At 31 March 2018

153,978

339,525

493,503

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Trade debtors

918,822

828,610

Other debtors

104,033

95,734

1,022,855

924,344

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.19

31.3.18

£

£

Bank loans and overdrafts

-

4,485

Trade creditors

1,189,214

1,280,227

Taxation and social security

41,726

55,615

Other creditors

1,416,327

1,354,979

2,647,267

2,695,306

The following reproduces the text of the report prepared for the director 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 Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2019 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

R. Lunt Roberts & Co.

75A High Street

Bangor

Gwynedd

LL57 1NR

25 September 2019