C Jones Transport Services Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 03955538 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

30 NOVEMBER 2019

FOR

C JONES TRANSPORT SERVICES LTD

Page

Company Information

1

Statement of Financial Position

2

Notes to the Financial Statements

4

Chartered Accountants' Report

11

DIRECTOR:

C Jones

SECRETARY:

C Jones

REGISTERED OFFICE:

Grove Service Station

Ynyscedwyn Road

Ystradgynlais

Swansea

SA9 1BE

REGISTERED NUMBER:

03955538 (England and Wales)

ACCOUNTANTS:

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

125,482

177,655

Investments

6

-

100

125,482

177,755

CURRENT ASSETS

Debtors

7

84,758

242,206

Cash at bank

437,848

145,665

522,606

387,871

CREDITORS

Amounts falling due within one year

8

130,463

232,501

NET CURRENT ASSETS

392,143

155,370

TOTAL ASSETS LESS CURRENT LIABILITIES

517,625

333,125

PROVISIONS FOR LIABILITIES

23,842

30,201

NET ASSETS

493,783

302,924

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

493,781

302,922

SHAREHOLDERS' FUNDS

493,783

302,924

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 12 August 2020 and were signed by:

C Jones - Director

1.	STATUTORY INFORMATION

C Jones Transport Services 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 2004, is being amortised evenly over its estimated useful life of five 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 finance lease, over the lease term, whichever is shorter:

Plant and Machinery - 15% Reducing Balance

Motor - 25% Reducing Balance

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of

Income and Retained Earnings, 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 statement of financial position date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the statement of financial position 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.

Hire Purchase interest is calculated on a sum of digits method.

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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and

Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the

company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements,

when there is a legally enforceable right to set off the recognised amounts and there is an intention to

settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are

initially measured at transaction price including transaction costs and are subsequently carried at

amortised cost using the effective interest method unless the arrangement constitutes a financing

transaction, where the transaction is measured at the present value of the future receipts discounted at

a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not

quoted in an active market are classified as 'loans and receivables'. Loans and receivables are

measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the

recognition of interest would be immaterial. The effective interest method is a method of calculating the

amortised cost of a debt instrument and of allocating the interest income over the relevant period. The

effective interest rate is the rate that exactly discounts estimated future cash receipts through the

expected life of the debt instrument to the net carrying amount on initial recognition.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators

of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events

that occurred after the initial recognition of the financial asset, the estimated future cash flows have

been affected. If an asset is impaired, the impairment loss is the difference between the carrying

amount and the present value of the estimated cash flows discounted at the asset's original effective

interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was

recognised, the impairment is reversed. The reversal is such that the current carrying amount does not

exceed what the carrying amount would have been, had the impairment not previously been

recognised. The impairment reversal is recognised in profit or loss.

Basic financial liabilities

Basic financial liabilities, including trade and other payables, bank loans, loans from fellow group

companies and preference shares that are classified as debt, are initially recognised at transaction

price unless the arrangement constitutes a financing transaction, where the debt instrument is

measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary

course of business from suppliers. Accounts payable are classified as current liabilities if payment is

due within one year or less. If not, they are presented as non-current liabilities. Trade payables are

recognised initially at transaction price and subsequently measured at amortised cost using the

effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual

arrangements entered into, An equity instrument is any contract that evidences a residual interest in

the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities

Financial liabilities are derecognised when the company's contractual obligations expire or are

discharged or cancelled.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2018 - 13 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 December 2018

and 30 November 2019

100,000

AMORTISATION

At 1 December 2018

and 30 November 2019

100,000

NET BOOK VALUE

At 30 November 2019

-

At 30 November 2018

-

5.	TANGIBLE FIXED ASSETS

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 December 2018

43,613

621,671

665,284

Additions

-

6,800

6,800

Disposals

(6,043

)

(236,252

)

(242,295

)

At 30 November 2019

37,570

392,219

429,789

DEPRECIATION

At 1 December 2018

32,630

454,999

487,629

Charge for year

1,542

38,042

39,584

Eliminated on disposal

(5,338

)

(217,568

)

(222,906

)

At 30 November 2019

28,834

275,473

304,307

NET BOOK VALUE

At 30 November 2019

8,736

116,746

125,482

At 30 November 2018

10,983

166,672

177,655

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST

At 1 December 2018

135,010

Transfer to ownership

(66,510

)

At 30 November 2019

68,500

DEPRECIATION

At 1 December 2018

55,576

Charge for year

12,844

Transfer to ownership

(38,451

)

At 30 November 2019

29,969

NET BOOK VALUE

At 30 November 2019

38,531

At 30 November 2018

79,434

6.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 December 2018

100

Disposals

(100

)

At 30 November 2019

-

NET BOOK VALUE

At 30 November 2019

-

At 30 November 2018

100

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

84,758

197,861

Other debtors

-

44,345

84,758

242,206

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Hire purchase contracts

5,234

61,650

Trade creditors

65,117

115,869

Tax

5,394

13,147

Social security and other taxes

2,444

3,332

VAT

24,275

19,630

Directors' loan accounts

25,437

13,114

Accrued expenses

2,562

5,759

130,463

232,501

9.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Hire purchase contracts

5,234

61,650

Hire Purchase contracts are secured on the commercial vehicles of the business.

10.	RELATED PARTY DISCLOSURES

During the year the company paid rent of £15,000 (2018: £15,000) to the director for the use of the

premises.

C Jones (Haulage) Ltd

A company of which is a subsidiary of C Jones Transport services Ltd

During the year, C Jones (Haulage) Ltd supplied C Jones Transport Services Ltd with £38,193 (2018:

£104,271) of specified services.

During the year, C Jones Transport Services Ltd supplied C Jones (Haulage) Ltd with £20,035 (2018:

£60,493) of specified services.

At the balance sheet date, a balance of £NIL (2018: £44,345) was due from C Jones (Haulage) Ltd.

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 Statement of Financial Position. 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.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of C Jones Transport Services Ltd for the year ended 30 November 2019 which

comprise the Statement of Income and Retained Earnings, Statement of Financial Position 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 director of C Jones Transport Services Ltd in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of C Jones Transport Services Ltd and state those matters that we have agreed to state to the director of C Jones Transport Services Ltd 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 C Jones Transport Services Ltd and its director for our work or for this report.

It is your duty to ensure that C Jones Transport Services Ltd 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 C Jones Transport Services Ltd. You consider that C Jones Transport Services Ltd 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 C Jones Transport Services Ltd. 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.

Bevan Buckland LLP

Langdon House

Langdon Road

SA1 Swansea Waterfront

Swansea

SA1 8QY

12 August 2020