Jones of Pakefield Ltd - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 11320396 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 March 2023

for

Jones of Pakefield Ltd

Page

Abridged Balance Sheet

1

Notes to the Financial Statements

3

FIXED ASSETS

Tangible assets

4

1,091,962

1,179,357

CURRENT ASSETS

Stocks

-

9,340

Debtors

3,959

3,758

Cash at bank

31,616

158,337

35,575

171,435

CREDITORS

Amounts falling due within one year

23,169

186,054

NET CURRENT ASSETS/(LIABILITIES)

12,406

(14,619

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,104,368

1,164,738

CREDITORS

Amounts falling due after more than one year

1,831,501

1,831,831

NET LIABILITIES

(727,133

)

(667,093

)

CAPITAL AND RESERVES

Called up share capital

100

100

Retained earnings

(727,233

)

(667,193

)

(727,133

)

(667,093

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2023 in accordance with Section 444(2A) of the Companies Act 2006.

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 13 December 2023 and were signed on its behalf by:

Mr N I Jones - Director

1.	STATUTORY INFORMATION

Jones of Pakefield Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number:

11320396

Registered office:

44 Alleyn Road

Dulwich

London

SE21 8AL

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 comprises revenue recognised by the company in respect of goods and services as they are provided during the year, exclusive of Value Added Tax.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Freehold property

-

2% on cost

Improvements to property

-

2% on cost

Fixtures and fittings

-

15% on cost and 15% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

20% on cost

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.

Going concern

The financial statements have not been prepared on the going concern basis because the business ceased trading in November 2022. The directors are currently considering the future of the company, and looking at various options including selling the building and assets. The loan from an associated company is supporting the balance sheet until a suitable resolution can be found.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 14 (2022 - 17 ) .

4.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 April 2022

1,467,508

Additions

8,042

Disposals

(2,000

)

At 31 March 2023

1,473,550

DEPRECIATION

At 1 April 2022

288,151

Charge for year

94,538

Eliminated on disposal

(1,101

)

At 31 March 2023

381,588

NET BOOK VALUE

At 31 March 2023

1,091,962

At 31 March 2022

1,179,357