ACCOUNTS - Final Accounts preparation

ADAM JONES GROUP LIMITED - Company Information

2014-08-01 false true 2015-07-312015-07-312015-07-31Each of the persons who are directors at the time when this Directors' report is approved has confirmed that: so far as that director is aware, there is no relevant audit information of which the company's auditors are unaware, and that director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information. 03871629 d:EntityAccountantsOrAuditors 2015-07-31 03871629 2014-08-01 2015-07-31 03871629 2013-08-01 2014-07-31 03871629 2015-07-31 03871629 2014-07-31 03871629 d:CompanySecretary 2014-08-01 2015-07-31 03871629 d:OrdinaryShareClass1 2015-07-31 03871629 d:OrdinaryShareClass1 2014-07-31 03871629 d:OrdinaryShareClass1 2014-08-01 2015-07-31 03871629 d:Director1 2014-08-01 2015-07-31 03871629 d:Director2 2014-08-01 2015-07-31 03871629 d:RegisteredOffice 2014-08-01 2015-07-31 03871629 d:EntityLawyersOrLegalAdvisers 2014-08-01 2015-07-31 03871629 c:Subsidiary1 2014-08-01 2015-07-31 03871629 c:Subsidiary2 2014-08-01 2015-07-31 03871629 c:Subsidiary3 2014-08-01 2015-07-31 03871629 c:Subsidiary1 2015-07-31 03871629 c:Subsidiary2 2015-07-31 03871629 c:Subsidiary3 2015-07-31 03871629 d:EntityAccountantsOrAuditors 2014-08-01 2015-07-31 03871629 c:DividendsPaid d:AllOrdinaryShares 2014-08-01 2015-07-31 03871629 c:DividendsPaid d:AllOrdinaryShares 2013-08-01 2014-07-31 03871629 c:InvestmentInSubsidiaries c:SharesFixedAssetInvestments 2015-07-31 03871629 c:InvestmentInSubsidiaries c:SharesFixedAssetInvestments 2014-07-31 xbrli:shares iso4217:GBP xbrli:pure

ADAM JONES GROUP LIMITED

DIRECTORS' REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

Registered number: 03871629

ADAM JONES GROUP LIMITED

COMPANY INFORMATION

DIRECTORS	Royston Adam Jones
	Clive Adam Jones


COMPANY SECRETARY	Clive Allen Jones


REGISTERED NUMBER	03871629


REGISTERED OFFICE	Coombes Wharf
	Chancel Way
	Halesowen
	West Midlands
	B62 8RP


INDEPENDENT AUDITORS	Lancaster Clements Limited
	Chartered Certified Accountants
	Stanley House
	27 Wellington Road
	Bilston
	West Midlands
	WV14 6AH


SOLICITORS	George Green LLP
	195 High Street
	Cradley Heath
	West Midlands
	B64 5HW

ADAM JONES GROUP LIMITED

CONTENTS

	Page
Directors' report	1 - 2
Independent auditors' report	3 - 4
Profit and loss account	5
Balance sheet	6
Notes to the financial statements	7 - 9

ADAM JONES GROUP LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JULY 2015

The directors present their report and the financial statements for the year ended 31 July 2015.

DIRECTORS' RESPONSIBILITIES STATEMENT

The directors are responsible for preparing the Directors' report and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

·select suitable accounting policies and then apply them consistently;

·make judgments and accounting estimates that are reasonable and prudent;

·prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

PRINCIPAL ACTIVITIES

The company has no trading activities and exists solely as an intermediate holding company.

DIRECTORS

The directors who served during the year were:

Royston Adam Jones

Clive Adam Jones

DISCLOSURE OF INFORMATION TO AUDITORS

Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:

·so far as that director is aware, there is no relevant audit information of which the company's auditors are unaware, and

·that director has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the company's auditors are aware of that information.

Page 1

ADAM JONES GROUP LIMITED

DIRECTORS' REPORT

FOR THE YEAR ENDED 31 JULY 2015

AUDITORS

The auditors, Lancaster Clements Limited, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

In preparing this report, the directors have taken advantage of the small companies exemptions provided by section 415A of the Companies Act 2006.

This report was approved by the board on 29 February 2016 and signed on its behalf.

Clive Allen Jones

Secretary

Page 2

INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF ADAM JONES GROUP LIMITED

We have audited the financial statements of Adam Jones Group Limited for the year ended 31 July 2015, which comprise the Profit and Loss Account, the Balance Sheet and the related notes. The financial reporting framework that has been applied in their preparation is applicable law and the Financial Reporting Standard for Smaller Entities (effective April 2008) (United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities).

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

RESPECTIVE RESPONSIBILITIES OF DIRECTORS AND AUDITORS

As explained more fully in the Directors' responsibilities statement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view. Our responsibility is to audit and express an opinion on the financial statements in accordance with applicable law and International Standards on Auditing (UK and Ireland). Those standards require us to comply with the Auditing Practices Board's Ethical Standards for Auditors.

SCOPE OF THE AUDIT OF THE FINANCIAL STATEMENTS

A description of the scope of an audit of financial statements is provided on the Financial Reporting Council's website at www.frc.org.uk/auditscopeukprivate.

OPINION ON FINANCIAL STATEMENTS

In our opinion the financial statements:

·give a true and fair view of the state of the company's affairs as at 31 July 2015 and of its profit for the year then ended;

·have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice applicable to Smaller Entities; and

·have been prepared in accordance with the requirements of the Companies Act 2006.

OPINION ON OTHER MATTER PRESCRIBED BY THE COMPANIES ACT 2006

In our opinion the information given in the Directors' report for the financial year for which the financial statements are prepared is consistent with the financial statements.

Page 3

INDEPENDENT AUDITORS' REPORT TO THE SHAREHOLDERS OF ADAM JONES GROUP LIMITED

MATTERS ON WHICH WE ARE REQUIRED TO REPORT BY EXCEPTION

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

·adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

·the financial statements are not in agreement with the accounting records and returns; or

·certain disclosures of directors' remuneration specified by law are not made; or

·we have not received all the information and explanations we require for our audit; or

·the directors were not entitled to prepare the financial statements in accordance with the small companies regime and to take advantage of the small companies' exemption from the requirement to prepare a Strategic report or in preparing the Directors' report.

Mark Anthony Cupitt (senior statutory auditor)

for and on behalf of

Lancaster Clements Limited

Chartered Certified Accountants

Stanley House

27 Wellington Road

Bilston

West Midlands

WV14 6AH

29 February 2016

Page 4

ADAM JONES GROUP LIMITED

PROFIT AND LOSS ACCOUNT

FOR THE YEAR ENDED 31 JULY 2015

		2015	2014
	Note	£	£
Income from other fixed asset investments		40,000	51,284
PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION		40,000	51,284
Tax on profit on ordinary activities		-	-
PROFIT FOR THE FINANCIAL YEAR	5	40,000	51,284

The notes on pages 7 to 9 form part of these financial statements.

Page 5

ADAM JONES GROUP LIMITED

REGISTERED NUMBER: 03871629

BALANCE SHEET

AS AT 31 JULY 2015


				2015		2014

	Note	£	£
FIXED ASSETS
Investments	2	1,400,100	1,400,100

CURRENT ASSETS
Debtors	3		621		621

TOTAL ASSETS LESS CURRENT LIABILITIES

1,400,721

CAPITAL AND RESERVES
Called up share capital	4	1,200	1,200
Share premium account	5	1,398,950	1,398,950
Profit and loss account	5	571	571

SHAREHOLDERS' FUNDS

1,400,721

The financial statements have been prepared in accordance with the provisions applicable to small companies within Part 15 of the Companies Act 2006 and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 29 February 2016.

Royston Adam Jones

Director

The notes on pages 7 to 9 form part of these financial statements.

Page 6

ADAM JONES GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

1.ACCOUNTING POLICIES

	1.1	Basis of preparation of financial statements
		The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
		The company is the parent undertaking of a small group and as such is not required by the Companies Act 2006 to prepare group accounts. These financial statements therefore present information about the company as an individual undertaking and not about its group.

	1.2	Investments
		Investments held as fixed assets are shown at cost less provision for impairment.

2.FIXED ASSET INVESTMENTS

		Investments in subsidiary companies
		£
	Cost or valuation
	At 1 August 2014 and 31 July 2015	1,400,100

	Net book value
	At 31 July 2015	1,400,100
	At 31 July 2014	1,400,100

Subsidiary undertakings

The following were subsidiary undertakings of the company:

		Name	Class of shares	Holding

Adam Jones & Sons (Blackheath) Limited	Ordinary £1	100%
Midland Freight Service Limited	Ordinary £1	100%
Adam Jones Management Limited	Ordinary £1	100%

Page 7

ADAM JONES GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

2.FIXED ASSET INVESTMENTS (continued)

The aggregate of the share capital and reserves as at 31 July 2015 and of the profit or loss for the year ended on that date for the subsidiary undertakings were as follows:

Name	Aggregate of share capital and reserves	Profit/(loss)
	£	£

Adam Jones & Sons (Blackheath) Limited	1,021,316	234,372
Midland Freight Service Limited	669,317	64,450
Adam Jones Management Limited	100	-

3.DEBTORS

	2015	2014
	£	£

Other debtors	621	621

4.SHARE CAPITAL

	2015	2014
	£	£
Allotted, called up and fully paid

1,200 ordinary shares of £1 each	1,200	1,200

5.RESERVES

	Share premium account	Profit and loss account
	£	£

At 1 August 2014	1,398,950	571
Profit for the year	-	40,000
Dividends: equity capital	-	(40,000)


At 31 July 2015	1,398,950	571

Page 8

ADAM JONES GROUP LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2015

6.DIVIDENDS

			2015	2014
			£	£

Dividends paid on equity capital

40,000

51,284

7.CONTINGENT LIABILITIES

The company is party to a unlimited multilateral guarantee in respect of the bank indebtedness of all the parties forming the Adam Jones Investments group of companies and there exists a fixed and floating charge over all present and future assets of those companies. At the balance sheet date, the company had no additional guarantee (2014 nil). The company is party to a group overdraft facility of £40,000 which encompasses the Adam Jones Investments Limited group of companies.

8.RELATED PARTY TRANSACTIONS

During the year the company received dividends totalling £40,000 (2014 £33,000) from the subsidiary undertaking, Adam Jones & Sons (Blackheath) Limited and nil (2014 £18,284) from the subsidiary undertaking Midland Freight Service Limited.

9.PARENT UNDERTAKING

The parent company is Adam Jones Investments Limited, a company registered in England and Wales.

During the year Adam Jones Group Limited paid dividends totalling £40,000 (2014 £51,284) to that company.

10.LIMITATION OF AUDITORS' LIABILITY

The company has entered into a liability limitation agreement, the principal terms being as follows:-
Any liability is limited, pursuant to Section 537 of the Companies Act 2006, to no less than such amount as is considered fair and reasonable in each individual circumstance and to a maximum of ten times the level of the fee for the audit service being carried out.

The resolution approving this agreement is dated 31 July 2015.

Page 9