11 false false false false false false false false false false true false false false false false true No description of principal activity 2022-06-01 Sage Accounts Production Advanced 2023 - FRS102_2023 1,390 1,390 1,390 xbrli:pure xbrli:shares iso4217:GBP 01302221 2022-06-01 2023-05-31 01302221 2023-05-31 01302221 2022-05-31 01302221 2021-06-01 2022-05-31 01302221 2022-05-31 01302221 2021-05-31 01302221 core:LandBuildings core:OwnedOrFreeholdAssets 2022-06-01 2023-05-31 01302221 core:PlantMachinery 2022-06-01 2023-05-31 01302221 core:MotorVehicles 2022-06-01 2023-05-31 01302221 bus:Director2 2022-06-01 2023-05-31 01302221 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 01302221 core:PlantMachinery 2022-05-31 01302221 core:MotorVehicles 2022-05-31 01302221 core:LandBuildings core:OwnedOrFreeholdAssets 2023-05-31 01302221 core:PlantMachinery 2023-05-31 01302221 core:MotorVehicles 2023-05-31 01302221 core:WithinOneYear 2023-05-31 01302221 core:WithinOneYear 2022-05-31 01302221 core:AfterOneYear 2023-05-31 01302221 core:AfterOneYear 2022-05-31 01302221 core:ShareCapital 2023-05-31 01302221 core:ShareCapital 2022-05-31 01302221 core:SharePremium 2023-05-31 01302221 core:SharePremium 2022-05-31 01302221 core:RetainedEarningsAccumulatedLosses 2023-05-31 01302221 core:RetainedEarningsAccumulatedLosses 2022-05-31 01302221 core:CostValuation core:Non-currentFinancialInstruments 2023-05-31 01302221 core:Non-currentFinancialInstruments 2023-05-31 01302221 core:Non-currentFinancialInstruments 2022-05-31 01302221 core:LandBuildings core:OwnedOrFreeholdAssets 2022-05-31 01302221 core:PlantMachinery 2022-05-31 01302221 core:MotorVehicles 2022-05-31 01302221 bus:SmallEntities 2022-06-01 2023-05-31 01302221 bus:AuditExempt-NoAccountantsReport 2022-06-01 2023-05-31 01302221 bus:SmallCompaniesRegimeForAccounts 2022-06-01 2023-05-31 01302221 bus:PrivateLimitedCompanyLtd 2022-06-01 2023-05-31 01302221 bus:FullAccounts 2022-06-01 2023-05-31
COMPANY REGISTRATION NUMBER: 01302221
Jones Television & Electrical Services Ltd
Filleted Unaudited Financial Statements
31 May 2023
Jones Television & Electrical Services Ltd
Statement of Financial Position
31 May 2023
2023
2022
Note
£
£
Fixed assets
Tangible assets
5
165,133
181,638
Investments
6
1,390
1,390
---------
---------
166,523
183,028
Current assets
Stocks
120,833
109,290
Debtors
7
55,288
67,415
Cash at bank and in hand
313,875
299,893
---------
---------
489,996
476,598
Creditors: amounts falling due within one year
8
71,942
72,281
---------
---------
Net current assets
418,054
404,317
---------
---------
Total assets less current liabilities
584,577
587,345
Creditors: amounts falling due after more than one year
9
133,473
143,385
---------
---------
Net assets
451,104
443,960
---------
---------
Capital and reserves
Called up share capital
1,000
1,000
Share premium account
62,651
62,651
Profit and loss account
387,453
380,309
---------
---------
Shareholders funds
451,104
443,960
---------
---------
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 May 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 .
Jones Television & Electrical Services Ltd
Statement of Financial Position (continued)
31 May 2023
These financial statements were approved by the board of directors and authorised for issue on 21 February 2024 , and are signed on behalf of the board by:
Mrs W Morgan
Director
Company registration number: 01302221
Jones Television & Electrical Services Ltd
Notes to the Financial Statements
Year ended 31 May 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 Preswylfa, Nantgaredig, Dyfed, SA32 7NH.
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.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Freehold buildings
-
2% straight line
Plant and machinery
-
20% straight line
Motor vehicles
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 11 (2022: 11 ).
5. Tangible assets
Freehold property
Plant and machinery
Motor vehicles
Total
£
£
£
£
Cost
At 1 June 2022
259,713
92,434
88,752
440,899
Additions
440
440
Disposals
( 1,805)
( 14,072)
( 15,877)
---------
--------
--------
---------
At 31 May 2023
259,713
91,069
74,680
425,462
---------
--------
--------
---------
Depreciation
At 1 June 2022
114,546
88,358
56,357
259,261
Charge for the year
5,196
11,608
16,804
Disposals
( 1,764)
( 13,972)
( 15,736)
---------
--------
--------
---------
At 31 May 2023
119,742
98,202
42,385
260,329
---------
--------
--------
---------
Carrying amount
At 31 May 2023
139,971
( 7,133)
32,295
165,133
---------
--------
--------
---------
At 31 May 2022
145,167
4,076
32,395
181,638
---------
--------
--------
---------
6. Investments
Other investments other than loans
£
Cost
At 1 June 2022 and 31 May 2023
1,390
-------
Impairment
At 1 June 2022 and 31 May 2023
-------
Carrying amount
At 31 May 2023
1,390
-------
At 31 May 2022
1,390
-------
7. Debtors
2023
2022
£
£
Trade debtors
50,003
62,619
Other debtors
5,285
4,796
--------
--------
55,288
67,415
--------
--------
8. Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans and overdrafts
10,000
10,000
Trade creditors
35,594
35,527
Corporation tax
77
77
Social security and other taxes
20,815
19,984
Other creditors
5,456
6,693
--------
--------
71,942
72,281
--------
--------
9. Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
24,999
35,000
Other creditors
108,474
108,385
---------
---------
133,473
143,385
---------
---------