Jones Homes Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 00983422 (England and Wales)

JONES HOMES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2019

Page

Company Information

1

Chartered Accountants' Report

2

Balance Sheet

3

Notes to the Financial Statements

5

DIRECTORS:

Mr S M Jones

Mrs L M Jones

Miss S A Jones

SECRETARY:

Mr S M Jones

REGISTERED OFFICE:

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

REGISTERED NUMBER:

00983422 (England and Wales)

ACCOUNTANTS:

Breeze & Associates Ltd.

Chartered Accountants

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

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 Jones Homes Limited for the year ended 31 October 2019 which comprise the Income

Statement, Balance Sheet and the related notes from the company's accounting records and from information and

explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Jones Homes 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 Jones Homes Limited and state those matters that we have agreed to state to the Board of Directors of Jones Homes Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Jones Homes Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Jones Homes 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 Jones Homes Limited. You consider that Jones Homes 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 Jones Homes 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.

Breeze & Associates Ltd.

Chartered Accountants

5 Cornfield Terrace

Eastbourne

East Sussex

BN21 4NN

3 May 2020

FIXED ASSETS

Tangible assets

4

314

370

Investment property

5

785,150

782,000

785,464

782,370

CURRENT ASSETS

Debtors

6

4,315

5,294

Cash at bank

87,539

68,920

91,854

74,214

CREDITORS

Amounts falling due within one year

7

8,774

8,563

NET CURRENT ASSETS

83,080

65,651

TOTAL ASSETS LESS CURRENT LIABILITIES

868,544

848,021

PROVISIONS FOR LIABILITIES

78,307

77,709

NET ASSETS

790,237

770,312

CAPITAL AND RESERVES

Called up share capital

54

54

Fair value reserve

8

511,222

508,670

Retained earnings

8

278,961

261,588

SHAREHOLDERS' FUNDS

790,237

770,312

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2019 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 3 May 2020 and were signed on its behalf by:

Mr S M Jones - Director

1.	STATUTORY INFORMATION

Jones Homes 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 as modified by the revaluation of certain assets.

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

-

15% on reducing balance

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation.

Investment properties are initially measured at cost, including transaction costs. Subsequently investment

properties are measured at fair value. Gains and losses arising from changes in the fair value of investment

properties are included in profit or loss in the period in which they arise.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2018 - 3 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

£

COST

At 1 November 2018

and 31 October 2019

9,206

DEPRECIATION

At 1 November 2018

8,836

Charge for year

56

At 31 October 2019

8,892

NET BOOK VALUE

At 31 October 2019

314

At 31 October 2018

370

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 November 2018

782,000

Revaluations

3,150

At 31 October 2019

785,150

NET BOOK VALUE

At 31 October 2019

785,150

At 31 October 2018

782,000

Fair value at 31 October 2019 is represented by:

£

Valuation in 2011

660,500

Valuation in 2017

110,000

Valuation in 2018

11,500

Valuation in 2019

3,150

785,150

If the investment properties had not been revalued they would have been included at the following historical

cost:

2019

2018

£

£

Cost

195,621

195,621

The investment properties were valued at 31 October 2019 by the directors at fair value.

The value is not based on a valuation by an independant valuer who holds a relevant professional qualification,

but has been valued by looking at similar properties in the local area and applying house price indices to the

original cost.

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

928

2,020

Other debtors

3,387

3,274

4,315

5,294

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Taxation and social security

4,341

3,429

Other creditors

4,433

5,134

8,774

8,563

8.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 November 2018

261,588

508,670

770,258

Profit for the year

19,925

19,925

Transfer between reserves

(2,552

)

2,552

-

At 31 October 2019

278,961

511,222

790,183

9.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year Mrs L M Jones repaid amounts totalling £1,442 (2018 - £519). The balance due from Mrs L

Jones at the year end was £779 (2018 - £2,222). This loan is interest free and repayable on demand.

During the year Mr S Jones received amounts totalling £1,600 (2018 - £nil). The balance due from Mr S Jones at

the year end was £1,600 (2018 - £nil). This loan is interest free and repayable on demand.