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REGISTERED NUMBER: 03212967 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

AA JONES ELECTRIC LIMITED

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


AA JONES ELECTRIC LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2023







DIRECTORS: I Wayman
A O Moore
N D Jennings
A Moulds





REGISTERED OFFICE: Unit H, Venture Business Park
Witty Street
Hull
HU3 4EL





REGISTERED NUMBER: 03212967 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

BALANCE SHEET
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 184,750 204,750
Tangible assets 5 256,848 361,975
Investment property 6 250,000 -
691,598 566,725

CURRENT ASSETS
Stocks 995,519 875,570
Debtors 7 1,848,443 2,779,434
Cash at bank and in hand 621,880 25,931
3,465,842 3,680,935
CREDITORS
Amounts falling due within one year 8 1,555,248 1,634,348
NET CURRENT ASSETS 1,910,594 2,046,587
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,602,192

2,613,312

CREDITORS
Amounts falling due after more than one year 9 (250,901 ) (399,239 )

PROVISIONS FOR LIABILITIES (58,797 ) (27,788 )
NET ASSETS 2,292,494 2,186,285

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

BALANCE SHEET - continued
31 March 2023

2023 2022
Notes £    £    £    £   
CAPITAL AND RESERVES
Called up share capital 60,002 60,002
Retained earnings 2,232,492 2,126,283
SHAREHOLDERS' FUNDS 2,292,494 2,186,285

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.

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 21 September 2023 and were signed on its behalf by:




A O Moore - Director



I Wayman - Director


AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

AA Jones Electric Limited is a company incorporated and domiciled in England and has its registered office and principle place of business at Unit H, Venture Business Park, Witty Street, Hull, HU3 4TT

The principal activity of the Company is an electrical wholesalers.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover is recognised at point of sale. Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2001, was originally being amortised evenly over its estimated useful life of twenty years. On transition to FRS 102 the remaining estimated useful life is five years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - over the period of the lease
Plant and machinery etc - 33% on reducing balance, 25% on a reducing balance basis and 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued

Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition. Stock is calculated on the first in first out basis.

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 taxation
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
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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.

Operating leases
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Government grants
Government grants received by the company during the year are taken to profit as received.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2022 - 21 ) .

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 April 2022
and 31 March 2023 270,000
AMORTISATION
At 1 April 2022 65,250
Charge for year 20,000
At 31 March 2023 85,250
NET BOOK VALUE
At 31 March 2023 184,750
At 31 March 2022 204,750

5. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2022 297,352 386,292 683,644
Additions 132,000 64,751 196,751
Reclassification/transfer (250,000 ) - (250,000 )
At 31 March 2023 179,352 451,043 630,395
DEPRECIATION
At 1 April 2022 61,253 260,416 321,669
Charge for year 1,170 50,708 51,878
At 31 March 2023 62,423 311,124 373,547
NET BOOK VALUE
At 31 March 2023 116,929 139,919 256,848
At 31 March 2022 236,099 125,876 361,975

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


5. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2022
and 31 March 2023 122,058
DEPRECIATION
At 1 April 2022 37,269
Charge for year 30,515
At 31 March 2023 67,784
NET BOOK VALUE
At 31 March 2023 54,274
At 31 March 2022 84,789

6. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
Reclassification/transfer 250,000
At 31 March 2023 250,000
NET BOOK VALUE
At 31 March 2023 250,000

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 761,161 953,559
Amounts owed by group undertakings 1,031,517 1,702,163
Amounts owed by related parties 24,078 97,136
Other debtors 31,687 26,576
1,848,443 2,779,434

The amount owed by group undertakings is in respect of amounts due from the parent company. The balance does not attract interest and although strictly repayable on demand, £1,031,518 (2022: £1,702,163) will not be repaid within 12 months.

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 92,013 66,875
Hire purchase contracts 35,577 15,174
Trade creditors 843,435 824,058
Taxation and social security 230,119 278,711
Other creditors 354,104 449,530
1,555,248 1,634,348

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Bank loans 224,531 341,406
Hire purchase contracts 26,370 57,833
250,901 399,239

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 63,281 80,156

10. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 316,406 408,281
Hire purchase contracts 61,947 73,007
378,353 481,288

The bank overdraft,loans and other creditors are secured by a fixed and floating charge over the company's assets.Hire purchase borrowings are secured on the assets to which they relate.

The loan secured through the government supported CBILS scheme for £300,000 carries interest at 2.71% above base and is repayable over 5 years commencing July 2021.

The company also has a secured bank loan of £168,750 which carries interest at 3.15% above base and is repayable over 10 years commencing in January 2022.

AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2023


11. RELATED PARTY DISCLOSURES

The company has paid a dividend to it's parent company during the year amounting to £200,000 (2022 £207,000).
Included in Debtors due within one year is an amount due from the company's parent company amounting to £1,031,518 (2022 £1,702,163).

12. ULTIMATE CONTROLLING PARTY

The ultimate parent company is Alphase UK Limited which has the same registered address and principle place of business as AA Jones Electric Limited.