G D Jones And Son Ltd - Accounts to registrar (filleted) - small 22.3

REGISTERED NUMBER: 07034367 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2022

FOR

G D JONES AND SON LTD

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Report of the Accountants

7

DIRECTOR:

M D Jones

SECRETARY:

REGISTERED OFFICE:

The Fuel Depot

Industrial Estate

Gaerwen

Ynys Mon

LL60 6HR

REGISTERED NUMBER:

07034367 (England and Wales)

ACCOUNTANTS:

R. Lunt Roberts & Co.

75A High Street

Bangor

Gwynedd

LL57 1NR

FIXED ASSETS

Intangible assets

4

651,000

717,000

Tangible assets

5

1,205,756

514,972

Investments

6

557,595

557,595

2,414,351

1,789,567

CURRENT ASSETS

Stocks

135,690

141,529

Debtors

7

1,959,097

1,059,773

Cash at bank and in hand

2,620,261

2,013,021

4,715,048

3,214,323

CREDITORS

Amounts falling due within one year

8

2,938,645

1,944,028

NET CURRENT ASSETS

1,776,403

1,270,295

TOTAL ASSETS LESS CURRENT LIABILITIES

4,190,754

3,059,862

CREDITORS

Amounts falling due after more than one year

9

1,294,778

1,000,000

NET ASSETS

2,895,976

2,059,862

CAPITAL AND RESERVES

Called up share capital

300

300

Retained earnings

2,895,676

2,059,562

SHAREHOLDERS' FUNDS

2,895,976

2,059,862

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2022 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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 21 October 2022 and were signed by:

M D Jones - Director

1.	STATUTORY INFORMATION

G D Jones And Son 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 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.

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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

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 11 (2021 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2021

and 31 March 2022

1,005,000

AMORTISATION

At 1 April 2021

288,000

Charge for year

66,000

At 31 March 2022

354,000

NET BOOK VALUE

At 31 March 2022

651,000

At 31 March 2021

717,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2021

153,978

1,056,894

1,210,872

Additions

424,359

433,428

857,787

Disposals

-

(6,000

)

(6,000

)

At 31 March 2022

578,337

1,484,322

2,062,659

DEPRECIATION

At 1 April 2021

-

695,900

695,900

Charge for year

-

161,003

161,003

At 31 March 2022

-

856,903

856,903

NET BOOK VALUE

At 31 March 2022

578,337

627,419

1,205,756

At 31 March 2021

153,978

360,994

514,972

6.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 April 2021

and 31 March 2022

557,595

NET BOOK VALUE

At 31 March 2022

557,595

At 31 March 2021

557,595

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade debtors

1,829,373

966,972

Other debtors

129,724

92,801

1,959,097

1,059,773

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.22

31.3.21

£

£

Trade creditors

2,397,556

1,397,943

Taxation and social security

110,634

147,586

Other creditors

430,455

398,499

2,938,645

1,944,028

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.22

31.3.21

£

£

Other creditors

1,294,778

1,000,000

Amounts falling due in more than five years:

Repayable otherwise than by instalments

Other loans more 5yrs non-inst

1,000,000

1,000,000

Repayable by instalments

Other loans more 5yrs instal

294,778

-

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 Balance Sheet. 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.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31 March 2022 set out on pages nil to nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

R. Lunt Roberts & Co.

75A High Street

Bangor

Gwynedd

LL57 1NR

21 October 2022