Company Registration No. 04615539 (England and Wales)
Julia Jones Limited
Unaudited accounts
for the year ended 31 December 2023
Julia Jones Limited
Unaudited accounts
Contents
Julia Jones Limited
Company Information
for the year ended 31 December 2023
Directors
Zeta Alice Jones
Julia Mary Gleave
Robert Adam Jones
Company Number
04615539 (England and Wales)
Registered Office
Conway Road
Mochdre
Colwyn Bay
LL28 5HQ
Accountants
Power Accountants, Business and Tax Advisors Limited
Royal House, 14 Upper Northgate Street
Chester
CH1 4EE
Julia Jones Limited
Statement of financial position
as at 31 December 2023
Tangible assets
921,941
556,234
Cash at bank and in hand
49
181,267
Creditors: amounts falling due within one year
(306,499)
(187,706)
Net current (liabilities)/assets
(138,735)
134,731
Total assets less current liabilities
783,206
690,965
Creditors: amounts falling due after more than one year
(423,745)
(280,498)
Provisions for liabilities
Deferred tax
(4,965)
(4,965)
Net assets
354,496
405,502
Called up share capital
120
120
Profit and loss account
354,376
405,382
Shareholders' funds
354,496
405,502
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 30 July 2024 and were signed on its behalf by
Zeta Alice Jones
Director
Company Registration No. 04615539
Julia Jones Limited
Notes to the Accounts
for the year ended 31 December 2023
Julia Jones Limited is a private company, limited by shares, registered in England and Wales, registration number 04615539. The registered office is Conway Road, Mochdre , Colwyn Bay, LL28 5HQ.
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Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These financial statements have been prepared in accordance with the provisions of Section 1A"Small Entities “of 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 as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable services rendered, stated net of discounts and of Value Added Tax.
When the consideration receivable in cash or cash equivalents is deferred, and the arrangement constitutes in effect a financing transaction, the fair value of the consideration is measured as the present value of all future receipts determined using an imputed rate of interest, normally the rate that discounts the nominal amount of consideration to the cash sales price.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Julia Jones Limited
Notes to the Accounts
for the year ended 31 December 2023
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued, non-depreciable tangible
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Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
530,102
55,532
-
585,634
Additions
328,803
1,399
57,578
387,780
Disposals
-
(12,424)
-
(12,424)
At 31 December 2023
858,905
44,507
57,578
960,990
At 1 January 2023
-
29,400
-
29,400
Charge for the year
-
4,378
11,289
15,667
On disposals
-
(6,018)
-
(6,018)
At 31 December 2023
-
27,760
11,289
39,049
At 31 December 2023
858,905
16,747
46,289
921,941
At 31 December 2022
530,102
26,132
-
556,234
Julia Jones Limited
Notes to the Accounts
for the year ended 31 December 2023
Amounts falling due within one year
Trade debtors
94,828
63,208
Accrued income and prepayments
-
12,810
Other debtors
7,887
15,152
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Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
79,279
21,980
Trade creditors
126,293
77,670
Taxes and social security
32,096
172
Loans from directors
25,812
38,449
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Creditors: amounts falling due after more than one year
2023
2022
Bank loans
362,043
218,773
Obligations under finance leases and hire purchase contracts
31,702
-
Other creditors
30,000
30,000
Taxes and social security
-
31,725
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Average number of employees
During the year the average number of employees was 2 (2022: 2).