A. F. Jones Stonemasons Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07112560 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

FOR

A. F. JONES STONEMASONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A G Jones

Ms M L Alsop

K A Jones

REGISTERED OFFICE:

33 Bedford Road

Reading

Berks

RG1 7EX

REGISTERED NUMBER:

07112560 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Intangible assets

4

768,000

832,000

Tangible assets

5

1,016,013

814,112

1,784,013

1,646,112

CURRENT ASSETS

Stocks

216,577

214,766

Debtors

6

814,008

654,816

Cash at bank and in hand

1,381,793

624,189

2,412,378

1,493,771

CREDITORS

Amounts falling due within one year

7

1,169,671

873,339

NET CURRENT ASSETS

1,242,707

620,432

TOTAL ASSETS LESS CURRENT LIABILITIES

3,026,720

2,266,544

CREDITORS

Amounts falling due after more than one year

8

(838,499

)

(725,111

)

PROVISIONS FOR LIABILITIES

(31,923

)

(31,923

)

NET ASSETS

2,156,298

1,509,510

CAPITAL AND RESERVES

Called up share capital

9

21,050

21,125

Retained earnings

10

2,135,248

1,488,385

SHAREHOLDERS' FUNDS

2,156,298

1,509,510

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 August 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 20 May 2020 and were signed on its behalf by:

A G Jones - Director

1.	STATUTORY INFORMATION

A. F. Jones Stonemasons 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.

Turnover

Turnover represents net invoiced sales of goods and services, excluding value added tax.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

20% on reducing balance and Straight line over 3 years

Motor vehicles

-

20% on reducing balance

Office equipment

-

20% on reducing balance

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.

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 31 (2018 - 25 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 September 2018

and 31 August 2019

1,280,000

AMORTISATION

At 1 September 2018

448,000

Charge for year

64,000

At 31 August 2019

512,000

NET BOOK VALUE

At 31 August 2019

768,000

At 31 August 2018

832,000

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.

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Office

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2018

470,261

496,802

73,178

15,551

1,055,792

Additions

44,209

336,708

49,870

15,296

446,083

Disposals

-

-

(10,338

)

-

(10,338

)

At 31 August 2019

514,470

833,510

112,710

30,847

1,491,537

DEPRECIATION

At 1 September 2018

30,653

164,769

40,448

5,810

241,680

Charge for year

73,947

152,298

12,384

3,638

242,267

Eliminated on disposal

-

-

(8,423

)

-

(8,423

)

At 31 August 2019

104,600

317,067

44,409

9,448

475,524

NET BOOK VALUE

At 31 August 2019

409,870

516,443

68,301

21,399

1,016,013

At 31 August 2018

439,608

332,033

32,730

9,741

814,112

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 2018

118,749

30,005

148,754

Additions

295,257

-

295,257

Transfer to ownership

-

(15,475

)

(15,475

)

At 31 August 2019

414,006

14,530

428,536

DEPRECIATION

At 1 September 2018

71,718

14,987

86,705

Charge for year

108,008

1,736

109,744

At 31 August 2019

179,726

16,723

196,449

NET BOOK VALUE

At 31 August 2019

234,280

(2,193

)

232,087

At 31 August 2018

47,031

15,018

62,049

6.

DEBTORS

31.8.19

31.8.18

£

£

Amounts falling due within one year:

Trade debtors

548,238

526,273

Amounts recoverable on contract

25,866

14,890

Other debtors

71,506

50,318

645,610

591,481

31.8.19

31.8.18

£

£

Amounts falling due after more than one year:

Amounts recoverable on contract

168,398

63,335

Aggregate amounts

814,008

654,816

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.19

31.8.18

£

£

Hire purchase contracts

127,244

40,889

Trade creditors

121,033

140,061

Taxation and social security

287,201

292,038

Other creditors

634,193

400,351

1,169,671

873,339

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.19

31.8.18

£

£

Hire purchase contracts

158,499

45,111

Other creditors

680,000

680,000

838,499

725,111

Amounts falling due in more than five years:

Repayable by instalments

Loan from Director

680,000

680,000

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.19

31.8.18

value:

£

£

20,000

Ordinary

£1

20,000

20,000

850

Non-Voting Ordinary

£1

850

925

100

B Ordinary

£1

100

100

100

C Ordinary

£1

100

100

21,050

21,125

10.

RESERVES

Retained

earnings

£

At 1 September 2018

1,488,385

Profit for the year

861,500

Dividends

(214,637

)

At 31 August 2019

2,135,248

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.

31.08.19

31.08.18

£

£

A G Jones

150,000

90,000

K A Jones

50,000

30,000

Long term loan from A G Jones in connection with the acquisition of the business in 2012.

31.08.19

31.08.18

£

£

Included in Other Creditors due within one year

40,622

39,182

Included in Other Creditors due in more than one year

680,000

680,000

Total loan outstanding

£720,622

£719,182

12.	RELATED PARTY DISCLOSURES

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:

2019

2018

£

£

Goods and services sold (Labour and materials recharged)

16,638

9,845

Costs recharged from A F Jones and E T Sheppard

80,000

80,000

At the Balance Sheet date the amount outstanding was £47,560 due from A G Jones T/A - A F Jones and E T

Sheppard (2018: 27,701).

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.

2019

2018

Mr A G Jones

10,200

10,200

Ms M L Alsop

4,800

4,800

Mr K Jones

5,000

5,000