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Registered number: 03871629
ADAM JONES GROUP LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
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ADAM JONES GROUP LIMITED
REGISTERED NUMBER: 03871629
STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2019
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.
The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 24 June 2020.
The notes on pages 2 to 4 form part of these financial statements.
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ADAM JONES GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
The company is registered in England and Wales and was incorporated on 4 November 1999. It's registered office is Coombes Wharf, Chancel Way, Halesowen, West Midlands, B62 8RP. The company has no trading activities and exists solely as an intermediate holding company.
2.Accounting policies
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Basis of preparation of financial statements
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The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The following principal accounting policies have been applied:
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Impairment of fixed assets and goodwill
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Assets that are subject to depreciation or amortisation are assessed at each reporting date to determine whether there is any indication that the assets are impaired. Where there is any indication that an asset may be impaired, the carrying value of the asset (or cash-generating unit to which the asset has been allocated) is tested for impairment. An impairment loss is recognised for the amount by which the asset's carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset's (or CGU's) fair value less costs to sell and value in use. For the purposes of assessing impairment, assets are grouped at the lowest levels for which there are separately identifiable cash flows (CGUs). Non-financial assets that have been previously impaired are reviewed at each reporting date to assess whether there is any indication that the impairment losses recognised in prior periods may no longer exist or may have decreased.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.
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ADAM JONES GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
2.Accounting policies (continued)
Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.
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The average monthly number of employees, including directors, during the year was 3 (2018 - 2).
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Investments in subsidiary companies
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Amounts owed by group undertakings
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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ADAM JONES GROUP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2019
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Allotted, called up and fully paid
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1,200 (2018 - 1,200) ordinary shares of £1.00 each
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Post balance sheet events
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On March 11, 2020 the World Health Organisation declared the novel strain of coronavirus (COVD-19) a global pandemic and recommended containment and mitigation measures worldwide. As of the date of this filing, our business remained committed to fulfilling its contractual obligations. We cannot reasonably estimate the length or severity of this pandemic, or the extent to which the disruption may materially impact out financial position, results of operations and cash flows in fiscal 2020.
The parent company is OTIF Holdings Limited which is registered in England and Wales. The consolidated financial statements of OTIF Holdings Limited, which incorporates the accounts of the Company, are prepared in accordance with Financial Reporting Standards and copies of the financial statements can be obtained from C/O Kenyon Road Haulage Ltd, Thornley Avenue, Blackburn, United Kingdom, BB1 3HJ.
The auditors' report on the financial statements for the year ended 31 July 2019 was unqualified.
The audit report was signed on 24 June 2020 by Mark Anthony Cupitt (Senior statutory auditor) on behalf of Lancaster Clements Limited.
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