Jones Homes Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 00983422 (England and Wales)

JONES HOMES LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 8 NOVEMBER 2014

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to four)

have been prepared.

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 8 November 2014 which comprise the Profit and Loss

Account, the 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 at icaew.com/membershandbook.

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 AAF 2/10 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company 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

22 June 2015

Page

Chartered Accountants' Report

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

FIXED ASSETS

Tangible assets

2

294

346

Investment property

3

660,500

660,500

660,794

660,846

CURRENT ASSETS

Debtors

67,099

47,316

Cash at bank

65,955

71,657

133,054

118,973

CREDITORS

Amounts falling due within one year

36,323

38,453

NET CURRENT ASSETS

96,731

80,520

TOTAL ASSETS LESS CURRENT LIABILITIES

757,525

741,366

CAPITAL AND RESERVES

Called up share capital

4

54

54

Revaluation reserve

464,879

464,879

Profit and loss account

292,592

276,433

SHAREHOLDERS' FUNDS

757,525

741,366

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 8 November 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 8 November 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 21 June 2015 and were signed on its behalf by:

Mr S M Jones - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the revaluation

of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities (effective April

2008).

Exemption from preparing a cash flow statement

Exemption has been taken from preparing a cash flow statement on the grounds that the company qualifies as a

small company.

Turnover

Turnover represents rental income receivable.

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 property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in

market value is transferred to a revaluation reserve.

Depreciation is only provided on those investment properties which are held as leasehold and where the

unexpired lease term is less than twenty years.

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) no depreciation

is provided in respect of freehold properties held as investments. This is a departure from the requirement of the

Companies Act 2006 which requires all properties to be depreciated. Such properties are held for investment and

not for their consumption and the directors consider that to depreciate them would not give a true and fair view.

Deferred tax

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

sheet date to the extent that it is material.

No provision is made for deferred tax on gains recognised on revaluing property to its market value because the

company does not intend to sell these revalued assets.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 9 November 2013

and 8 November 2014

8,785

DEPRECIATION

At 9 November 2013

8,439

Charge for year

52

At 8 November 2014

8,491

NET BOOK VALUE

At 8 November 2014

294

At 8 November 2013

346

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 9 November 2013

and 8 November 2014

660,500

NET BOOK VALUE

At 8 November 2014

660,500

At 8 November 2013

660,500

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

54

Ordinary

£1

54

54

5.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year Mrs L M Jones withdrew an amount of £18,138 (2013 - £9,208) . The balance due from Mrs L

Jones at the year end was £54,926 (2013 - £36,788).