Jones Norris Adams Ltd - Period Ending 2015-03-31

Registration number: 03752857

Jones Norris Adams Ltd

Unaudited Abbreviated Accounts

for the Year Ended 31 March 2015
 

Jones Norris Adams Ltd
Contents

Abbreviated Balance Sheet 1 to 2

Notes to the Abbreviated Accounts 3 to 5

Jones Norris Adams Ltd
(Registration number: 03752857)
Abbreviated Balance Sheet at 31 March 2015

		Note			2015 £						2014 £
Fixed assets
Tangible fixed assets		2						734,452						709,524
Investments		2						113,972						130,362
								848,424						839,886
Current assets
Debtors					113,352						197,756
Cash at bank and in hand					339,860						161,819
					453,212						359,575
Creditors: Amounts falling due within one year					(472,716)						(533,532)
Net current liabilities								(19,504)						(173,957)
Total assets less current liabilities								828,920						665,929
Creditors: Amounts falling due after more than one year								(274,136)						(299,502)
Net assets								554,784						366,427
Capital and reserves
Called up share capital		4			300						300
Revaluation reserve					13,089						(6,533)
Profit and loss account					541,395						372,660
Shareholders' funds								554,784						366,427

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 1

Jones Norris Adams Ltd
(Registration number: 03752857)
Abbreviated Balance Sheet at 31 March 2015
......... continued

For the year ending 31 March 2015 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the Financial Reporting Standard for Smaller Entities (effective 2008).

Approved by the Board on 7 December 2015 and signed on its behalf by:

.........................................
T R Emlyn Jones
Director

.........................................
I C Norris
Director

The notes on pages 3 to 5 form an integral part of these financial statements.
Page 2

Jones Norris Adams Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

1	Accounting policies

Basis of preparation

The full financial statements, from which these abbreviated accounts have been extracted, have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (Effective April 2008).

Turnover

Turnover represents amounts chargeable, net of value added tax, in respect of services to customers.

Depreciation

Depreciation is provided on tangible fixed assets so as to write off the cost or valuation, less any estimated residual value, over their expected useful economic life as follows:

Asset class	Depreciation method and rate
Fixtures and fittings	25% reducing balance basis
Plant and machinery	25% reducing balance basis

Investment properties

Certain of the company's properties are held for long-term investment. Investment properties are accounted for in accordance with the FRSSE, as follows: No depreciation is provided in respect of investment properties and they are revalued annually. The surplus or deficit on revaluation is transferred to the revaluation reserve unless a deficit below original cost, or its reversal, on an individual investment property is expected to be permanent, in which case it is recognised in the profit and loss account for the year. This treatment as regards the company's investment properties may be a departure from the requirements of the Companies Act concerning the depreciation of fixed assets. However, these properties are not held for consumption but for investment and the directors consider that systematic annual depreciation would be inappropriate. The accounting policy adopted is therefore necessary for the financial statements to give a true and fair view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

Fixed asset investments

Fixed asset investments are stated at historical cost less provision for any diminution in value.

Pensions

The company operates a defined contribution pension scheme. Contributions are recognised in the profit and loss account in the period in which they become payable in accordance with the rules of the scheme.

Page 3

Jones Norris Adams Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

2	Fixed assets

		Tangible assets £			Investments £			Total £
Cost
At 1 April 2014		721,963			130,362			852,325
Revaluations		19,622			-			19,622
Additions		6,548			-			6,548
Disposals		-			(16,390)			(16,390)
At 31 March 2015		748,133			113,972			862,105
Depreciation
At 1 April 2014		12,439			-			12,439
Charge for the year		1,242			-			1,242
At 31 March 2015		13,681			-			13,681
Net book value
At 31 March 2015		734,452			113,972			848,424
At 31 March 2014		709,524			130,362			839,886

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking	Country of incorporation	Holding	Proportion of voting rights and shares held	Principal activity
Subsidiary undertakings
JNA Property Limited		Ordinary shares	100%	Dormant Company
Epic Energy Ltd		Ordinary Shares	50%	Property related consultancy and certifications
Pembroke Dock Regeneration Co Ltd		Ordinary shares	33%	Property development
Garon Estates Limited		Ordinary shares	50%	Buying and selling property

The financial period end of JNA Property Limited is 31 March 2015. The profit for the financial period of JNA Property Limited was £nil and the aggregate amount of capital and reserves at the end of the period was £342,840.

Page 4

Jones Norris Adams Ltd
Notes to the Abbreviated Accounts for the Year Ended 31 March 2015
......... continued

The financial period end of Epic Energy Ltd is 31 August 2014. The loss for the financial period of Epic Energy Ltd was £1,520 and the aggregate amount of capital and reserves at the end of the period was £8,287.

The financial period end of Pembroke Dock Regeneration Co Ltd is 30 November 2014. The profit for the financial period of Pembroke Dock Regeneration Co Ltd was £5,639 and the aggregate amount of capital and reserves at the end of the period was £6,705.

The financial period end of Garon Estates Limited is 28 February 2015. The profit for the financial period of Garon Estates Limited was £34,608 and the aggregate amount of capital and reserves at the end of the period was £126,385.

3

Creditors

Creditors includes the following liabilities, on which security has been given by the company:

		2015 £			2014 £
Amounts falling due after more than one year		274,137			299,502

4	Share capital

Allotted, called up and fully paid shares

	2015						2014
		No.			£			No.			£
Ordinary shares of £1 each		300			300			300			300

5

Control

The company is controlled by the directors by virtue of their controlling shareholdings.

Page 5