A. F. Jones Stonemasons Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 07112560 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2023

FOR

A. F. JONES STONEMASONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A G Jones

M L Alsop

K A Jones

REGISTERED OFFICE:

33 Bedford Road

Reading

Berks

RG1 7EX

REGISTERED NUMBER:

07112560 (England and Wales)

ACCOUNTANTS:

C B Heslop & Company Limited

Chartered Accountants

1 High Street

Thatcham

Berks

RG19 3JG

FIXED ASSETS

Intangible assets

4

757,171

582,536

Tangible assets

5

904,065

964,986

1,661,236

1,547,522

CURRENT ASSETS

Stocks

542,925

486,799

Debtors

6

546,191

848,863

Cash at bank and in hand

1,616,615

1,784,363

2,705,731

3,120,025

CREDITORS

Amounts falling due within one year

7

601,471

958,767

NET CURRENT ASSETS

2,104,260

2,161,258

TOTAL ASSETS LESS CURRENT LIABILITIES

3,765,496

3,708,780

CREDITORS

Amounts falling due after more than one year

8

(658,530

)

(661,383

)

PROVISIONS FOR LIABILITIES

10

(31,923

)

(31,923

)

NET ASSETS

3,075,043

3,015,474

CAPITAL AND RESERVES

Called up share capital

11

21,650

21,650

Retained earnings

12

3,053,393

2,993,824

SHAREHOLDERS' FUNDS

3,075,043

3,015,474

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

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

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 1 March 2024 and were signed on its behalf by:

A G Jones - Director

1.	STATUTORY INFORMATION

A. F. Jones Stonemasons Limited 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 represents net invoiced sales of goods and services, excluding value added tax.

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.

Website is being amortised evenly over its estimated useful life of three years.

Tangible fixed assets

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

Improvements to property

-

Straight line over 10 years

Plant and machinery

-

20% on cost and 20% on reducing balance

Motor vehicles

-

20% on reducing balance

Office equipment

-

20% on reducing balance

Stocks

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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 39 (2022 - 33 ) .

4.	INTANGIBLE FIXED ASSETS

Other

intangible

Goodwill

assets

Totals

£

£

£

COST

At 1 September 2022

1,280,000

16,340

1,296,340

Additions

244,082

-

244,082

At 31 August 2023

1,524,082

16,340

1,540,422

AMORTISATION

At 1 September 2022

704,000

9,804

713,804

Charge for year

64,000

5,447

69,447

At 31 August 2023

768,000

15,251

783,251

NET BOOK VALUE

At 31 August 2023

756,082

1,089

757,171

At 31 August 2022

576,000

6,536

582,536

The company has acquired, the large masonry contracts business, of A F Jones & E T Sheppard, a long established stonemasonry, dating back to 1858. The large contracts business acquired, incorporates an enviable customer base and reputation, in major stone work and construction contracts. The business encompasses, carving, restorations, conservation and new build projects

During the year the company has acquired the monumental masonry business of A F Jones & E T Sheppard which has been long established in Reading and Henley..

5.	TANGIBLE FIXED ASSETS

Improvements

to

Plant and

Motor

Office

property

machinery

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 September 2022

852,683

1,357,204

134,259

67,059

2,411,205

Additions

112,627

176,960

6,000

9,594

305,181

At 31 August 2023

965,310

1,534,164

140,259

76,653

2,716,386

DEPRECIATION

At 1 September 2022

347,239

964,760

81,117

53,103

1,446,219

Charge for year

87,920

250,478

11,829

15,875

366,102

At 31 August 2023

435,159

1,215,238

92,946

68,978

1,812,321

NET BOOK VALUE

At 31 August 2023

530,151

318,926

47,313

7,675

904,065

At 31 August 2022

505,444

392,444

53,142

13,956

964,986

6.

DEBTORS

31.8.23

31.8.22

£

£

Amounts falling due within one year:

Trade debtors

239,236

424,158

Amounts recoverable on contract

193,815

220,187

Other debtors

108,083

165,468

541,134

809,813

Amounts falling due after more than one year:

Amounts recoverable on contract

5,057

39,050

Aggregate amounts

546,191

848,863

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.8.23

31.8.22

£

£

Bank loans and overdrafts (see note 9)

100,000

100,000

Hire purchase contracts

36,254

48,575

Trade creditors

84,773

237,727

Tax

74,720

141,751

Social security and other taxes

65,431

41,602

Other creditors

29,427

18,589

Directors' current accounts

190,700

350,000

Accrued expenses

20,166

20,523

601,471

958,767

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.8.23

31.8.22

£

£

Bank loans (see note 9)

198,183

300,000

Other loans (see note 9)

314,924

244,351

Hire purchase contracts

145,423

117,032

658,530

661,383

Amounts falling due in more than five years:

Repayable by instalments

Loan from Director

314,924

244,351

9.

LOANS

An analysis of the maturity of loans is given below:

31.8.23

31.8.22

£

£

Amounts falling due within one year or on demand:

Bank loans

100,000

100,000

Amounts falling due between two and five years:

Bank Loan

198,183

300,000

Amounts falling due in more than five years:

Repayable by instalments

Loan from Director

314,924

244,351

10.	PROVISIONS FOR LIABILITIES

31.8.23

31.8.22

£

£

Deferred tax

31,923

31,923

Deferred

tax

£

Balance at 1 September 2022

31,923

Balance at 31 August 2023

31,923

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.8.23

31.8.22

value:

£

£

20,000

Ordinary

£1

20,000

20,000

1,450

Non-Voting Ordinary

£1

1,450

1,450

100

B Ordinary

£1

100

100

100

C Ordinary

£1

100

100

21,650

21,650

12.

RESERVES

Retained

earnings

£

At 1 September 2022

2,993,824

Profit for the year

76,389

Dividends

(16,820

)

At 31 August 2023

3,053,393

13.	CONTINGENT LIABILITIES

There were no contingent liabilities at 31st August 2023 or at 31st August 2022.

14.	LOANS FROM DIRECTORS

The company has benefited from the following loans from Directors.

Short term loans included in Other Creditors due with in one year.

31.08.23

31.08.22

£

£

A G Jones

150,000

300,000

K A Jones

40,700

50,000

Long term loan from A G Jones in connection with the acquisition of the business in 2012 and 2023.

31.08.23

31.08.21

£

£

Included in Other Creditors due within one year

-

-

Included in Other Creditors due in more than one year

£314,924

245,351

Total loan outstanding

£314,924

245,351

15.	ULTIMATE CONTROLLING PARTY

Mr A G Jones controls the company by virtue of a controlling interest of 51% of the issued ordinary share capital.

2023

2022

Mr A G Jones

10,200

10,200

Ms M L Alsop

4,800

4,800

Mr K Jones

5,000

5,000