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REGISTERED NUMBER: 08636922 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2023

FOR

JONATHAN CORNES ASSOCIATES LIMITED

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023










Page

Statement of Financial Position 1 to 2

Notes to the Financial Statements 3 to 9


JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

STATEMENT OF FINANCIAL POSITION
31 JULY 2023

31.7.23 31.7.22
Notes £    £   
FIXED ASSETS
Intangible assets 4 61,816 68,602
Tangible assets 5 122,882 125,274
184,698 193,876

CURRENT ASSETS
Debtors 6 185,652 206,952
Cash at bank 3,511 1,572
189,163 208,524
CREDITORS
Amounts falling due within one year 7 (148,364 ) (159,471 )
NET CURRENT ASSETS 40,799 49,053
TOTAL ASSETS LESS CURRENT
LIABILITIES

225,497

242,929

CREDITORS
Amounts falling due after more than one
year

8

(105,144

)

(140,339

)
NET ASSETS 120,353 102,590

CAPITAL AND RESERVES
Called up share capital 100,000 100,000
Retained earnings 20,353 2,590
120,353 102,590

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

STATEMENT OF FINANCIAL POSITION - continued
31 JULY 2023


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 17 April 2024 and were signed on its behalf by:





J P Cornes - Director


JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2023


1. STATUTORY INFORMATION

JONATHAN CORNES ASSOCIATES LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 08636922

Registered office: 9 Brindley Court
Lymedale Business Park
Dalewood Road
Newcastle under Lyme
Staffordshire
ST5 9QA

The principal activity of the company during the year was to provide architectural and engineering consultancy services.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Significant judgements and estimates
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Key sources of estimation uncertainty

Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome. The key assumptions and other sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:

Estimated useful lives and residual values of fixed assets

As described in the accounting policies of the financial statements, depreciation of intangible and tangible fixed assets has been based on estimated useful lives and residual values deemed appropriate by the directors. Estimated useful lives and residual values are reviewed annually and revised as appropriate. Revisions take in to account actual asset lives and residual values as evidenced by disposals during current and prior accounting periods.

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Revenue recognition
The company provides architectural and engineering consultancy services.

Income derived from surveys and dilapidation claims is recognised in the period the report is completed. Project management income is recognised in the period the service is provided. Other income is recognised on completion of the report.

Goodwill
Positive purchased goodwill arising on acquisitions is capitalised, classified as an asset on the Balance Sheet and amortised over its useful economic life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed five years. Useful economic lives are reviewed at the end of each reporting period and revised if necessary. The carrying amount at the date of revision is depreciated over the revised estimate of remaining useful economic life.

Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:

Goodwill - 20 years
Website - 3 years

If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 25% reducing balance

Depreciation on freehold buildings is not provided as any uncharged depreciation for the year, and any accumulated uncharged depreciation, would be immaterial in aggregate as a result of the company's policy to maintain its properties in good condition, which substantially prolongs their useful economic life and the estimated high residual value of the properties.

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.

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

Financial instruments
A financial asset or a financial liability is recognised only when the entity 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.

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.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


2. ACCOUNTING POLICIES - continued

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.

Employee benefits
The company provides a range of benefits to employees.

Short term benefits, including holiday pay, are recognised as an expenses in the profit and loss account in the period in which they are incurred

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 8 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
Goodwill assets Totals
£    £    £   
COST
At 1 August 2022
and 31 July 2023 113,726 3,300 117,026
AMORTISATION
At 1 August 2022 48,332 92 48,424
Charge for year 5,686 1,100 6,786
At 31 July 2023 54,018 1,192 55,210
NET BOOK VALUE
At 31 July 2023 59,708 2,108 61,816
At 31 July 2022 65,394 3,208 68,602

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


5. TANGIBLE FIXED ASSETS
Fixtures
Long and
leasehold fittings Totals
£    £    £   
COST
At 1 August 2022 113,493 36,334 149,827
Additions - 738 738
At 31 July 2023 113,493 37,072 150,565
DEPRECIATION
At 1 August 2022 - 24,553 24,553
Charge for year - 3,130 3,130
At 31 July 2023 - 27,683 27,683
NET BOOK VALUE
At 31 July 2023 113,493 9,389 122,882
At 31 July 2022 113,493 11,781 125,274

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Trade debtors 36,497 72,327
Amounts owed by group undertakings 20,929 5,509
Amounts owed by connected comp
any 2,361 1,264
Other debtors 699 -
Directors' current accounts 122,704 115,373
Prepayments and accrued income 2,462 12,479
185,652 206,952

Amounts owed by group and connected companies are unsecured, interest free and repayable on demand.

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.7.23 31.7.22
£    £   
Bank loans and overdrafts 38,773 18,552
Other loans 28,699 26,264
Trade creditors 11,628 18,080
Amounts owed to group undertakings 970 -
Tax 33,879 45,465
Social security and other taxes 1,470 2,573
VAT 30,707 35,776
Other creditors - 10,466
Accruals and deferred income 2,238 2,295
148,364 159,471

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.7.23 31.7.22
£    £   
Bank loans due in 1-5 years 24,384 22,784
Bank loans payable more than
5 years by instalments 43,898 51,994
Other loans due in 1-5 years 36,862 65,561
105,144 140,339

Amounts falling due in more than five years:

Repayable by instalments
Bank loans payable more than
5 years by instalments 43,898 51,994
43,898 51,994

The bank loan is repayable by April 2032. Interest is accruing at a rate of 3.20% above the banks base rate and is repaid by regular instalments.

The bank loan is secured by a fixed and floating charge over the property.

During the year the company took out an unsecured loan which is repayable over 63 months and is accruing interest at a rate of 5.04% which is being repaid by regular instalments.

9. OTHER FINANCIAL COMMITMENTS

The amount of commitments, guarantees and contingencies is £12,918 (2022: £25,583).

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 July 2023 and 31 July 2022:

31.7.23 31.7.22
£    £   
J P Cornes
Balance outstanding at start of year 62,400 68,700
Amounts advanced 65,988 87,461
Amounts repaid (62,413 ) (93,761 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 65,975 62,400

E Cullen-Cornes
Balance outstanding at start of year 9,763 35,420
Amounts advanced 10,287 15,610
Amounts repaid (9,769 ) (41,267 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,281 9,763

JONATHAN CORNES ASSOCIATES LIMITED (REGISTERED NUMBER: 08636922)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2023


10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

S E Thornhill
Balance outstanding at start of year 43,210 55,546
Amounts advanced 46,646 47,999
Amounts repaid (43,408 ) (60,335 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 46,448 43,210

By virtue of the outstanding loan accounts, a liability to taxation exists under Section 455 of CTA 2010 in the sum of £41,413 which will be discharged or repaid when the loans are repaid in full. It is anticipated that the loans will be repaid within nine months of the year end and, as such, no provision for the taxation has been made.

11. EVENTS AFTER THE END OF THE REPORTING PERIOD

There were no significant events up to the date of approval of the financial statements by the Board.

12. ULTIMATE CONTROLLING PARTY

The company is a wholly owned subsidiary of JCA HQ Group Limited, a company incorporated in England and Wales.