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COMPANY REGISTRATION NUMBER: 09469612
I R Jones Ltd
Filleted Unaudited Financial Statements
31 March 2023
I R Jones Ltd
Financial Statements
Year ended 31 March 2023
Contents
Pages
Chartered accountants report to the board of directors on the preparation of the unaudited statutory financial statements
1
Statement of financial position
2 to 3
Notes to the financial statements
4 to 5
I R Jones Ltd
Chartered Accountants Report to the Board of Directors on the Preparation of the Unaudited Statutory Financial Statements of I R Jones Ltd
Year ended 31 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of I R Jones Ltd for the year ended 31 March 2023, which comprise the statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us. As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at www.icaew.com/en/membership/regulations-standards-and-guidance. This report is made solely to the Board of Directors of I R Jones Ltd, as a body, in accordance with the terms of our engagement letter dated 15 October 2020. Our work has been undertaken solely to prepare for your approval the financial statements of I R Jones Ltd and state those matters that we have agreed to state to you, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF as detailed at www.icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than I R Jones Ltd and its Board of Directors, as a body, for our work or for this report.
It is your duty to ensure that I R Jones Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of I R Jones Ltd. You consider that I R Jones Ltd is exempt from the statutory audit requirement for the year. We have not been instructed to carry out an audit or a review of the financial statements of I R Jones Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
HEBBLETHWAITES Chartered Accountants
2 Westbrook Court Sharrow Vale Road Sheffield S11 8YZ
3 November 2023
I R Jones Ltd
Statement of Financial Position
31 March 2023
2023
2022
Note
£
£
Fixed assets
Investments
4
603,643
603,643
Current assets
Cash at bank and in hand
100
100
Creditors: amounts falling due within one year
5
555,176
531,416
---------
---------
Net current liabilities
555,076
531,316
---------
---------
Total assets less current liabilities
48,567
72,327
Creditors: amounts falling due after more than one year
6
48,467
72,227
--------
--------
Net assets
100
100
--------
--------
I R Jones Ltd
Statement of Financial Position (continued)
31 March 2023
2023
2022
Note
£
£
Capital and reserves
Called up share capital
100
100
----
----
Shareholders funds
100
100
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2023 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 financial statements were approved by the board of directors and authorised for issue on 2 November 2023 , and are signed on behalf of the board by:
Mr I R Jones
Mrs S P Jones
Director
Director
Company registration number: 09469612
I R Jones Ltd
Notes to the Financial Statements
Year ended 31 March 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 431 Whirlowdale Road, Sheffield, S11 9NG.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Consolidation
The company has taken advantage of the option not to prepare consolidated financial statements contained in Section 398 of the Companies Act 2006 on the basis that the company and its subsidiary undertakings comprise a small group.
Investments in associates
Investments in associates accounted for in accordance with the cost model are recorded at cost less any accumulated impairment losses. Investments in associates accounted for in accordance with the fair value model are initially recorded at the transaction price. At each reporting date, the investments are measured at fair value, with changes in fair value recognised in other comprehensive income/profit or loss. Where it is impracticable to measure fair value reliably without undue cost or effort, the cost model will be adopted. Dividends and other distributions received from the investment are recognised as income without regard to whether the distributions are from accumulated profits of the associate arising before or after the date of acquisition.
4. Investments
Shares in group undertakings
£
Cost
At 1 April 2022 and 31 March 2023
603,643
---------
Impairment
At 1 April 2022 and 31 March 2023
---------
Carrying amount
At 31 March 2023
603,643
---------
At 31 March 2022
603,643
---------
5. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
23,760
26,022
Amounts owed to group undertakings
531,384
505,370
Other creditors
32
24
---------
---------
555,176
531,416
---------
---------
The bank loan is secured upon all assets of the company.
6. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
48,467
72,227
--------
--------
The bank loan is secured upon all assets of the company.