JONES_NORRIS_ADAMS_LIMITE - Accounts

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Company Registration No. 03752857 (England and Wales)

JONES NORRIS ADAMS LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

JONES NORRIS ADAMS LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

JONES NORRIS ADAMS LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Tangible assets

1,291,275

734,452

Investments

163,922

113,972

1,455,197

848,424

Current assets

Debtors

140,629

113,352

Cash at bank and in hand

297,146

339,860

437,775

453,212

Creditors: amounts falling due within one year

(221,347)

(472,716)

Net current assets/(liabilities)

216,428

(19,504)

Total assets less current liabilities

1,671,625

828,920

Creditors: amounts falling due after more than one year

(550,668)

(274,136)

1,120,957

554,784

Capital and reserves

Called up share capital

300

Revaluation reserve

13,089

Profit and loss account

1,107,568

541,395

Shareholders' funds

1,120,957

554,784

JONES NORRIS ADAMS LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 MARCH 2016

- 2 -

For the financial year ended 31 March 2016 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;

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

These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.

Approved by the Board for issue on 9 December 2016

TR Emlyn Jones

IC Norris

Director

Company Registration No. 03752857

JONES NORRIS ADAMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention modified to include the revaluation of freehold land and buildings and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

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

1.4

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided at rates calculated to write off the cost or valuation less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

25% reducing balance basis

Fixtures, fittings & equipment

25% reducing balance basis

1.5

Investments

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

1.6

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.

1.7

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.

JONES NORRIS ADAMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 4 -

Fixed assets

Tangible assets

Investments

Total

Cost or valuation

At 1 April 2015

748,133

113,972

862,105

Additions

557,829

50,000

607,829

Disposals

(50)

At 31 March 2016

1,305,962

163,922

1,469,884

Depreciation

At 1 April 2015

13,681

Charge for the year

1,006

At 31 March 2016

14,687

Net book value

At 31 March 2016

1,291,275

163,922

1,455,197

At 31 March 2015

734,452

113,972

848,424

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

JNA Property Limited

Ordinary shares

100.00

Pembroke Dock Regeneration Co Limited

Ordinary shares

33.00

Garon Estates Limited

Ordinary shares

50.00

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

JNA Property Limited

Dormant Company

Pembroke Dock Regeneration Co Limited

Property development

3,053

(3,652)

Garon Estates Limited

Buying and selling property

131,255

4,970

JONES NORRIS ADAMS LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 5 -

Debtors

Debtors include an amount of £0 (2015 - £8,225) which is due after more than one year.

Share capital

2016

2015

Allotted, called up and fully paid

300 Ordinary shares of £1 each

300