IRIS Accounts Production v24.1.0.578 01553486 Board of Directors 1.1.23 31.12.23 31.12.23 true false true true false false true false Fair value model Ordinary Shares 0 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh015534862022-12-31015534862023-12-31015534862023-01-012023-12-31015534862021-07-31015534862021-08-012022-12-31015534862022-12-3101553486ns15:EnglandWales2023-01-012023-12-3101553486ns14:PoundSterling2023-01-012023-12-3101553486ns10:Director12023-01-012023-12-3101553486ns10:PrivateLimitedCompanyLtd2023-01-012023-12-3101553486ns10:FRS1022023-01-012023-12-3101553486ns10:Audited2023-01-012023-12-3101553486ns10:LargeMedium-sizedCompaniesRegimeForDirectorsReport2023-01-012023-12-3101553486ns10:LargeMedium-sizedCompaniesRegimeForAccounts2023-01-012023-12-3101553486ns10:FullAccounts2023-01-012023-12-3101553486ns10:OrdinaryShareClass12023-01-012023-12-3101553486ns10:Director22023-01-012023-12-3101553486ns10:Director32023-01-012023-12-3101553486ns10:Director42023-01-012023-12-3101553486ns10:Director52023-01-012023-12-3101553486ns10:Director62023-01-012023-12-3101553486ns10:Director72023-01-012023-12-3101553486ns10:CompanySecretary12023-01-012023-12-3101553486ns10:RegisteredOffice2023-01-012023-12-3101553486ns5:CurrentFinancialInstruments2023-12-3101553486ns5:CurrentFinancialInstruments2022-12-3101553486ns5:Non-currentFinancialInstruments2023-12-3101553486ns5:Non-currentFinancialInstruments2022-12-3101553486ns5:ShareCapital2023-12-3101553486ns5:ShareCapital2022-12-3101553486ns5:RetainedEarningsAccumulatedLosses2023-12-3101553486ns5:RetainedEarningsAccumulatedLosses2022-12-3101553486ns5:ShareCapital2021-07-3101553486ns5:RetainedEarningsAccumulatedLosses2021-07-3101553486ns5:RetainedEarningsAccumulatedLosses2021-08-012022-12-3101553486ns5:RetainedEarningsAccumulatedLosses2023-01-012023-12-3101553486ns5:PlantMachinery2023-01-012023-12-3101553486ns5:FurnitureFittings2023-01-012023-12-3101553486ns5:MotorVehicles2023-01-012023-12-3101553486ns10:HighestPaidDirector2023-01-012023-12-3101553486ns10:HighestPaidDirector2021-08-012022-12-3101553486ns5:OwnedAssets2023-01-012023-12-3101553486ns5:OwnedAssets2021-08-012022-12-3101553486ns5:LeasedAssets2023-01-012023-12-3101553486ns5:LeasedAssets2021-08-012022-12-3101553486ns5:HirePurchaseContracts2023-01-012023-12-3101553486ns5:HirePurchaseContracts2021-08-012022-12-3101553486ns5:PlantMachinery2022-12-3101553486ns5:FurnitureFittings2022-12-3101553486ns5:MotorVehicles2022-12-3101553486ns5:PlantMachinery2023-12-3101553486ns5:FurnitureFittings2023-12-3101553486ns5:MotorVehicles2023-12-3101553486ns5:PlantMachinery2022-12-3101553486ns5:FurnitureFittings2022-12-3101553486ns5:MotorVehicles2022-12-3101553486ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3101553486ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3101553486ns5:LeasedAssetsHeldAsLessee2022-12-3101553486ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3101553486ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3101553486ns5:LeasedAssetsHeldAsLessee2023-01-012023-12-3101553486ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2023-12-3101553486ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2023-12-3101553486ns5:LeasedAssetsHeldAsLessee2023-12-3101553486ns5:PlantMachineryns5:LeasedAssetsHeldAsLessee2022-12-3101553486ns5:MotorVehiclesns5:LeasedAssetsHeldAsLessee2022-12-3101553486ns5:LeasedAssetsHeldAsLessee2022-12-3101553486ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101553486ns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3101553486ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2023-12-3101553486ns5:Non-currentFinancialInstrumentsns5:BetweenOneTwoYears2022-12-3101553486ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2023-12-3101553486ns5:Non-currentFinancialInstrumentsns5:BetweenTwoFiveYears2022-12-3101553486ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-12-3101553486ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2022-12-3101553486ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-12-3101553486ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2022-12-3101553486ns5:HirePurchaseContracts2023-12-3101553486ns5:HirePurchaseContracts2022-12-3101553486ns5:DeferredTaxation2022-12-3101553486ns5:DeferredTaxation2023-12-3101553486ns10:OrdinaryShareClass12023-12-3101553486ns5:RetainedEarningsAccumulatedLosses2022-12-31
REGISTERED NUMBER: 01553486 (England and Wales)















Jones Brothers (Henllan) Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 December 2023






Jones Brothers (Henllan) Limited (Registered number: 01553486)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 4

Income Statement 8

Other Comprehensive Income 9

Balance Sheet 10

Statement of Changes in Equity 11

Cash Flow Statement 12

Notes to the Cash Flow Statement 13

Notes to the Financial Statements 14


Jones Brothers (Henllan) Limited

Company Information
for the Year Ended 31 December 2023







DIRECTORS: N J Blignaut
M Edwards
H A Evans
M Griffiths
J G Jones
G G Jones
I W Roberts


SECRETARY: M Edwards


REGISTERED OFFICE: Heol Parc Mawr
Cross Hands Business Park
Cross Hands
Llanelli
SA14 6RE


REGISTERED NUMBER: 01553486 (England and Wales)


AUDITORS: Xeinadin Audit Limited
Chartered Accountants
& Statutory Auditors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR


BANKERS: HSBC Plc
Portland Street
Swansea
SA1 3DF

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Strategic Report
for the Year Ended 31 December 2023

The directors present their strategic report for the year ended 31 December 2023.

REVIEW OF BUSINESS
Turnover again exceeded the forecast from our previous accounts and we anticipate further growth during 2024. We continue to work on diversifying the mix of our sales offer and managing our gross profit margin and overheads to ensure an improved financial position year on year.

Key financial highlights
The key financial highlights are as follows:

Financial KPIs Unit 2023 2022 2021

Gross Profit % 11 12 10
Net Profit % 6 3 3

PRINCIPAL RISKS AND UNCERTAINTIES
The key factors which could affect the Company are the general economy and the competitiveness of the industry. The Company monitors the first area regularly and continues to expand the range of services it offers within the construction industry to broaden the potential client base to enable future growth to minimise any impact from the second area.

Interest rate risk
The Company continues to be funded from its own profits and, therefore, has no interest rate exposure. The Company continues to enjoy the support of its bankers, HSBC Bank Plc.

Credit risk
The Company's principal financial asset and, therefore the principal credit risk arises from its trade debtors. The risk is managed by regular review of credit references and monitoring payment history.

Environment
The Company recognises the importance of its environmental responsibilities, particularly in the area of sustainability within the construction industry and the minimisation of waste. The Company continues to hold accreditation under ISO 14001.

Employees
The Company has maintained its policy of promoting full time, permanent emloyment to help sustain the local economy and to comply with all relevant employment legislation. A programme of continuous training is undertaken for all employees. The Company continues to hold accreditation under ISO 9001.

Quality
The Company has an integrated management system to establish standard processes and procedures to achieve and exceed industry best practice standards. The Company continues to hold accreditation under ISO 9001.

Research & Development
The Company continues to engage in, and benefit from, targeted research and development projects and this will continue for the foreseeable future.

ON BEHALF OF THE BOARD:





M Edwards - Director


19 April 2024

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Report of the Directors
for the Year Ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of civil engineering and construction.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

RESEARCH AND DEVELOPMENT
The Company continues to engage in, and benefit from, targeted research and development projects and this will continue for the foreseeable future.

FUTURE DEVELOPMENTS
The Company is expected to maintain the volume and nature of its existing activities.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

N J Blignaut
M Edwards
H A Evans
M Griffiths
J G Jones
G G Jones
I W Roberts

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Xeinadin Audit Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





M Edwards - Director


19 April 2024

Report of the Independent Auditors to the Members of
Jones Brothers (Henllan) Limited

Opinion
We have audited the financial statements of Jones Brothers (Henllan) Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Other Comprehensive Income, Balance Sheet, Statement of Changes in Equity, Cash Flow Statement and Notes to the Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Report of the Independent Auditors to the Members of
Jones Brothers (Henllan) Limited


Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Jones Brothers (Henllan) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing risks of material misstatement in respect of irregularities including fraud and non-compliance with laws and regulations we have considered the following:

- The nature of the industry and sector, control environment and business performance;
- Results of the enquiries of management about their own identification and assessment of the risks of
irregularities;
- Any matters we have identified having obtained and reviewed the company's documentation of their
policies and procedures relating to:
-- identifying, evaluating and complying with laws and regulations and whether they were aware of any
instances of noncompliance;
-- detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected
or alleged fraud;
-- the internal controls established to mitigate risks of fraud or non-compliance with laws and regulations;
-- the matters discussed among the audit engagement team regarding how and where fraud might occur in
the financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in the following areas: timing of recognition of income.. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to the risk of management override.

We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that had a direct effect on the determination of material amounts and disclosures in the financial statements. The key laws and regulations we considered in this context included UK Companies Act, health and safety and tax legislation.

In addition, we considered provisions of other laws and regulations that do not have a direct effect on the financial statements but compliance with which may be fundamental to the company's ability to operate or to avoid a material penalty.

Audit response to risks identified
Our procedures to respond to risks identified included the following:
- reviewing the financial statement disclosures and testing to supporting documentation to assess compliance
with provisions of relevant laws and regulations described as having a direct effect on the financial statements;
- enquiring of management concerning actual and potential litigation and claims;
- performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
- reviewing correspondence with HMRC; and
- in addressing the risk of fraud through management override of controls, testing the appropriateness of journal
entries and other adjustments; assessing whether the judgements made in making accounting estimates are
indicative of a potential bias; and evaluating the business rationale of any significant transactions that are
unusual or outside the normal course of business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members including internal specialists, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error.

As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Jones Brothers (Henllan) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Lewis Van Emden (Senior Statutory Auditor)
for and on behalf of Xeinadin Audit Limited
Chartered Accountants
& Statutory Auditors
Highdale House
7 Centre Court
Treforest Industrial Estate
Pontypridd
Rhondda Cynon Taff
CF37 5YR

24 April 2024

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Income Statement
for the Year Ended 31 December 2023

Period
1.8.21
Year Ended to
31.12.23 31.12.22
Notes £    £   

TURNOVER 39,611,503 34,742,175

Cost of sales 35,106,877 30,665,632
GROSS PROFIT 4,504,626 4,076,543

Administrative expenses 2,393,618 3,238,364
2,111,008 838,179

Other operating income 173,000 218,000
OPERATING PROFIT 4 2,284,008 1,056,179

Interest receivable and similar income 38,982 353
2,322,990 1,056,532

Interest payable and similar expenses 5 97,772 18,249
PROFIT BEFORE TAXATION 2,225,218 1,038,283

Tax on profit 6 - 150,713
PROFIT FOR THE FINANCIAL YEAR 2,225,218 887,570

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Other Comprehensive Income
for the Year Ended 31 December 2023

Period
1.8.21
Year Ended to
31.12.23 31.12.22
Notes £    £   

PROFIT FOR THE YEAR 2,225,218 887,570


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME FOR
THE YEAR

2,225,218

887,570

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Balance Sheet
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 7 3,213,799 2,360,373
Investment property 8 475,350 475,350
3,689,149 2,835,723

CURRENT ASSETS
Debtors 9 6,710,173 6,252,646
Cash at bank and in hand 5,097,430 2,271,754
11,807,603 8,524,400
CREDITORS
Amounts falling due within one year 10 8,060,692 6,376,560
NET CURRENT ASSETS 3,746,911 2,147,840
TOTAL ASSETS LESS CURRENT
LIABILITIES

7,436,060

4,983,563

CREDITORS
Amounts falling due after more than one year 11 (821,639 ) (594,360 )

PROVISIONS FOR LIABILITIES 15 (306,208 ) (306,208 )
NET ASSETS 6,308,213 4,082,995

CAPITAL AND RESERVES
Called up share capital 16 11,980 11,980
Retained earnings 17 6,296,233 4,071,015
SHAREHOLDERS' FUNDS 6,308,213 4,082,995

The financial statements were approved by the Board of Directors and authorised for issue on 19 April 2024 and were signed on its behalf by:





M Edwards - Director


Jones Brothers (Henllan) Limited (Registered number: 01553486)

Statement of Changes in Equity
for the Year Ended 31 December 2023

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 August 2021 11,980 3,183,445 3,195,425

Changes in equity
Total comprehensive income - 887,570 887,570
Balance at 31 December 2022 11,980 4,071,015 4,082,995

Changes in equity
Total comprehensive income - 2,225,218 2,225,218
Balance at 31 December 2023 11,980 6,296,233 6,308,213

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Cash Flow Statement
for the Year Ended 31 December 2023

Period
1.8.21
Year Ended to
31.12.23 31.12.22
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 3,095,728 28,548
Interest paid (3,047 ) (6,770 )
Interest element of hire purchase payments paid (94,725 ) (11,481 )
Tax paid 331,173 86,464
Net cash from operating activities 3,329,129 96,761

Cash flows from investing activities
Purchase of tangible fixed assets (2,696,109 ) (2,391,243 )
Sale of tangible fixed assets 1,839,434 1,025,000
Interest received 38,982 353
Net cash from investing activities (817,693 ) (1,365,890 )

Cash flows from financing activities
New hire purchases in year 1,272,911 1,023,067
Capital repayments in year (958,671 ) (287,754 )
Net cash from financing activities 314,240 735,313

Increase/(decrease) in cash and cash equivalents 2,825,676 (533,816 )
Cash and cash equivalents at beginning of year 2 2,271,754 2,805,570

Cash and cash equivalents at end of year 2 5,097,430 2,271,754

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Cash Flow Statement
for the Year Ended 31 December 2023

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM OPERATIONS
Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Profit before taxation 2,225,218 1,038,283
Depreciation charges 135,908 67,752
(Profit)/loss on disposal of fixed assets (132,659 ) 170,074
Finance costs 97,772 18,249
Finance income (38,982 ) (353 )
2,287,257 1,294,005
Increase in trade and other debtors (420,456 ) (2,843,585 )
Increase in trade and other creditors 1,228,927 1,578,128
Cash generated from operations 3,095,728 28,548

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 31 December 2023
31.12.23 1.1.23
£    £   
Cash and cash equivalents 5,097,430 2,271,754
Period ended 31 December 2022
31.12.22 1.8.21
£    £   
Cash and cash equivalents 2,271,754 2,805,570


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.1.23 Cash flow At 31.12.23
£    £    £   
Net cash
Cash at bank and in hand 2,271,754 2,825,676 5,097,430
2,271,754 2,825,676 5,097,430
Debt
Finance leases (778,840 ) (402,000 ) (1,180,840 )
Debts falling due within 1 year (50,287 ) (1,288 ) (51,575 )
Debts falling due after 1 year (135,811 ) 51,977 (83,834 )
(964,938 ) (351,311 ) (1,316,249 )
Total 1,306,816 2,474,365 3,781,181

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Jones Brothers (Henllan) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Turnover
Revenue is measured at the fair value of the consideration received or receivable and represents the amount receivable for goods supplied or services rendered, net of discounts and rebates allowed by the company and value added tax.

Contract revenue recognition
Throughout the period and at the balance sheet date, the company's experienced quantity surveyors quantify the amounts recoverable on each contract in progress.

Cost of the work done to date including materials, subcontractors and staff are taken into consideration before arriving at a valuation by reference to the stage of completion.

The Company includes provisions in their valuations for unforeseen costs based on their risk and likelihood of them occurring.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - at varying rates on cost
Fixtures and fittings - 25% on cost
Motor vehicles - 25% on cost

Plant and machinery is initially recognised at cost. At the year end a valuation is carried out on assets and the assets are restated to those valuations. Depreciation rates applied to plant and machinery range from 5% - 20%.

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.

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.


Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Deferred tax
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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

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

Employee benefits
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense when they are due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds.

Other employee benefits such as paid holiday arrangements are recognised as an expense in the period in which they are incurred.

Long term contracts
Profit on long term contracts is taken as the work is carried out if the final outcome can be assessed with reasonable certainty. The profit included is calculated on a prudent basis to reflect the proportion of work carried out at the year end by recording turnover and related costs as contract activity progresses. Turnover is calculated as that proportion of total contract value which revenue generated to date bears to total expected revenue for that contract. Revenues derived from variations on contracts are recognised only when they have been accepted by the customer. Full provision is made for losses on all contracts in the period in which they are first foreseen.

3. EMPLOYEES AND DIRECTORS
Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Wages and salaries 4,628,699 5,471,410
Social security costs 486,061 587,165
Other pension costs 56,847 70,405
5,171,607 6,128,980

The average number of employees during the year was as follows:
Period
1.8.21
Year Ended to
31.12.23 31.12.22

Other departments 120 110

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

3. EMPLOYEES AND DIRECTORS - continued

Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Directors' remuneration 557,663 696,222
Directors' pension contributions to money purchase schemes 6,604 9,346

Information regarding the highest paid director is as follows:
Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Emoluments etc 124,167 138,212

4. OPERATING PROFIT

The operating profit is stated after charging/(crediting):

Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Other operating leases 2,883,438 2,581,326
Depreciation - owned assets 34,331 64,318
Depreciation - assets on hire purchase contracts 101,577 12,941
(Profit)/loss on disposal of fixed assets (132,659 ) 170,074
Auditors' remuneration 7,525 7,000
Auditors' remuneration for non audit work - 500

5. INTEREST PAYABLE AND SIMILAR EXPENSES
Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Bank loan interest 3,047 6,768
Hire purchase 94,725 11,481
97,772 18,249

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Deferred tax - 150,713
Tax on profit - 150,713

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

6. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is lower than the standard rate of corporation tax in the UK. The difference is explained below:

Period
1.8.21
Year Ended to
31.12.23 31.12.22
£    £   
Profit before tax 2,225,218 1,038,283
Profit multiplied by the standard rate of corporation tax in the UK of 23.518%
(2022 - 19%)

523,327

197,274

Effects of:
Expenses not deductible for tax purposes (18,759 ) 5,136
Capital allowances in excess of depreciation (789,801 ) (366,979 )
Utilisation of tax losses 526,191 164,569
Deferred tax (240,958 ) 150,713
credit
Total tax charge - 150,713

7. TANGIBLE FIXED ASSETS
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
COST
At 1 January 2023 2,343,664 163,789 58,000 2,565,453
Additions 2,542,303 6,643 147,163 2,696,109
Disposals (1,705,178 ) - (11,500 ) (1,716,678 )
At 31 December 2023 3,180,789 170,432 193,663 3,544,884
DEPRECIATION
At 1 January 2023 45,341 139,197 20,542 205,080
Charge for year 91,728 14,161 30,019 135,908
Eliminated on disposal (5,830 ) - (4,073 ) (9,903 )
At 31 December 2023 131,239 153,358 46,488 331,085
NET BOOK VALUE
At 31 December 2023 3,049,550 17,074 147,175 3,213,799
At 31 December 2022 2,298,323 24,592 37,458 2,360,373

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and Motor
machinery vehicles Totals
£    £    £   
COST
At 1 January 2023 851,931 - 851,931
Additions 965,272 147,163 1,112,435
Disposals (244,008 ) - (244,008 )
At 31 December 2023 1,573,195 147,163 1,720,358
DEPRECIATION
At 1 January 2023 12,941 - 12,941
Charge for year 83,182 18,395 101,577
Eliminated on disposal (5,830 ) - (5,830 )
At 31 December 2023 90,293 18,395 108,688
NET BOOK VALUE
At 31 December 2023 1,482,902 128,768 1,611,670
At 31 December 2022 838,990 - 838,990

8. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 475,350
NET BOOK VALUE
At 31 December 2023 475,350
At 31 December 2022 475,350

9. DEBTORS
31.12.23 31.12.22
£    £   
Amounts falling due within one year:
Trade debtors 1,524,966 2,082,259
Amounts recoverable on contract 2,446,598 2,409,527
Other debtors 2,122,044 1,078,859
6,093,608 5,570,645

Amounts falling due after more than one year:
Other debtors 616,565 682,001

Aggregate amounts 6,710,173 6,252,646

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans and overdrafts (see note 12) 51,575 50,287
Hire purchase contracts (see note 13) 443,035 320,291
Trade creditors 2,838,253 3,046,079
Tax 331,173 -
Social security and other taxes 177,543 164,145
VAT 47,271 354,210
Other creditors 3,453,622 2,397,048
Accruals and deferred income 682,195 -
Accrued expenses 36,025 44,500
8,060,692 6,376,560

11. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.12.23 31.12.22
£    £   
Bank loans (see note 12) 83,834 135,811
Hire purchase contracts (see note 13) 737,805 458,549
821,639 594,360

12. LOANS

An analysis of the maturity of loans is given below:

31.12.23 31.12.22
£    £   
Amounts falling due within one year or on demand:
Bank loans 51,575 50,287

Amounts falling due between one and two years:
Bank loans - 1-2 years 52,581 51,575

Amounts falling due between two and five years:
Bank loans - 2-5 years 31,253 84,236

13. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.12.23 31.12.22
£    £   
Net obligations repayable:
Within one year 443,035 320,291
Between one and five years 737,805 458,549
1,180,840 778,840

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Hire purchase contracts 1,180,840 778,840

The hire purchase contracts are secured over the assets to which they relate.

15. PROVISIONS FOR LIABILITIES
31.12.23 31.12.22
£    £   
Deferred tax 306,208 306,208

Deferred
tax
£   
Balance at 1 January 2023 306,208
Balance at 31 December 2023 306,208

16. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.12.23 31.12.22
value: £    £   
11,980 Ordinary Shares 11,980 11,980

There is a single class of ordinary shares. There are no restrictions on the distribution of dividends and the repayment of capital.

17. RESERVES
Retained
earnings
£   

At 1 January 2023 4,071,015
Profit for the year 2,225,218
At 31 December 2023 6,296,233

18. PENSION COMMITMENTS

The company operates a defined contribution pension scheme. The pension cost charge for the year represents contributions payable by the company to the scheme and amounted to £56.847 (2022: £70,405). At the year end £16,437 (2022: £15,849) was due to the pension scheme.

Jones Brothers (Henllan) Limited (Registered number: 01553486)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

19. RELATED PARTY DISCLOSURES

The company both sold to and purchased services from related parties during the year. The total values of these transactions were as follows:

The company made sales and recharges of £384,100 (2022: £81,646) during the period to Ajax Machinery which is a partnership controlled by the directors and shareholders of Jones Brothers (Henllan) Limited. The company made purchases of £363,404 (2022:£1,582,232) At the period end Jones Brothers (Henllan) Limited owed the partnership £101,882 (2022: £122,643), and was owed £27,000 (2022: NIL) by the partnership.

During the period the company made sales and recharges of £241,508 (2022: £218,000) to Towy Works Limited, a company with common directorship. At the year end, Towy Works Limited owed the company £40,306 (2022:£63,588). The company made purchases of £2,288,824 (2022: £3,675,700) during the period from Towy Works Limited. At the period end, the company owed Towy Works Limited £236,524 (2022: £396,294). Towy Works Limited repaid an outstanding loan balance of £300,000.

During the period the company was owed £200,000 (2022: £100) from Bowtree Limited a company that is controlled by common directorship to Jones Brothers (Henllan) Limited.

During the period the company was owed £315,587 (2022: £25,587) from Evermor Limited a company that is controlled by common directorship to Jones Brothers (Henllan) Limited.

During the period the company was owed £33,430 (2022: £123,530) from AJBP Ltd a company that is controlled by common directorship to Jones Brothers (Henllan) Limited.

During the period the company was owed £69,163 (2022: £69,163) from Church Road Cardiff Limited a company that is controlled by common directorship to Jones Brothers (Henllan) Limited.

During the period the company was owed £685,000 (2022: £NIL) from Maenor Developments Limited a company that is controlled by common directorship to Jones Brothers (Henllan) Limited.

No balances with related parties are secured.

20. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J G Jones and G G Jones.