Company registration number 13895721 (England and Wales)
JONES FAMILY INVESTMENTS GROUP LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
JONES FAMILY INVESTMENTS GROUP LTD
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 6
JONES FAMILY INVESTMENTS GROUP LTD
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
31 March 2024
28 February 2023
Notes
£
£
£
£
Fixed assets
Investments
3
100
Current assets
Debtors
5
214,237
Cash at bank and in hand
138,484
101
352,721
101
Creditors: amounts falling due within one year
6
(850)
(7,237)
Net current assets/(liabilities)
351,871
(7,136)
Total assets less current liabilities
351,971
(7,136)
Creditors: amounts falling due after more than one year
7
(363,714)
Net liabilities
(11,743)
(7,136)
Capital and reserves
Called up share capital
8
529
100
Share premium account
1,721
Profit and loss reserves
(13,993)
(7,236)
Total equity
(11,743)
(7,136)
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
For the financial period ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved and signed by the director and authorised for issue on 22 August 2024
Mr M T Jones
Director
Company registration number 13895721 (England and Wales)
JONES FAMILY INVESTMENTS GROUP LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 MARCH 2024
- 2 -
Share capital
Share premium account
Profit and loss reserves
Total
Notes
£
£
£
£
Balance at 4 February 2022
-
Period ended 28 February 2023:
Loss and total comprehensive income
-
-
(7,236)
(7,236)
Issue of share capital
8
100
-
100
Balance at 28 February 2023
100
(7,236)
(7,136)
Period ended 31 March 2024:
Loss and total comprehensive income
-
-
(6,757)
(6,757)
Issue of share capital
8
429
1,721
-
2,150
Balance at 31 March 2024
529
1,721
(13,993)
(11,743)
JONES FAMILY INVESTMENTS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
Jones Family Investments Group Ltd is a private company limited by shares incorporated in England and Wales. The registered office is The Bonded Warehouse, Atlantic Wharf, Cardiff, CF10 4HE.
1.1
Reporting period
During the year, the company changed its accounting reference date to 31 March. These financial statements cover the 13 month period ended 31 March 2024. The previous financial statements cover the period from incorporation, 04 February 2022, to 28 February 2023. As a result, the figures are not directly comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.3
Going concern
Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The director continues to adopt the going concern basis of accounting in preparing the financial statements.
1.4
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
An associate is an entity, being neither a subsidiary nor a joint venture, in which the company holds a long-term interest and where the company has significant influence. The company considers that it has significant influence where it has the power to participate in the financial and operating decisions of the associate.
Entities in which the company has a long term interest and shares control under a contractual arrangement are classified as jointly controlled entities.
JONES FAMILY INVESTMENTS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.
1.6
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
2
Employees
The average monthly number of persons (including directors) employed by the company during the period was:
2024
2023
Number
Number
Total
1
1
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
100
JONES FAMILY INVESTMENTS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
3
Fixed asset investments
(Continued)
- 5 -
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 1 March 2023
-
Additions
100
At 31 March 2024
100
Carrying amount
At 31 March 2024
100
At 28 February 2023
-
4
Subsidiaries
Details of the company's subsidiaries at 31 March 2024 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Rebel Lion Advertising Limited
The Bonded Warehouse, Atlantic Wharf, Cardiff, Wales, CF10 4HE
Ordinary
100.00
FRZN Limited
The Maltings, East Tyndall Street, Cardiff, Wales, CF24 5EA
Ordinary
100.00
The Resistance Advertising Agency Limited
The Bonded Warehouse, Atlantic Wharf, Cardiff, Wales, CF10 4HE
Ordinary
100.00
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
214,237
6
Creditors: amounts falling due within one year
2024
2023
£
£
Other creditors
850
7,237
JONES FAMILY INVESTMENTS GROUP LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
363,714
Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
204,207
-
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of 1p each
45,010
100
450
100
Ordinary B of 1p each
7,944
-
79
-
52,954
100
529
100
During the year, the 100 Ordinary shares of £1 were converted into 1,000 £0.10 shares, then 3,501 additional Ordinary shares of £0.10 were issued and fully paid. These 4,501 Ordinary shares of £0.10 were then converted into 45,010 shares of £0.01.
During the year, 7,944 Ordinary B shares of £0.01 were issued and 5,296 Ordinary B shares of £0.01 were fully paid.
9
Related party transactions
Included in other debtors is an amount of £199,906 (2023 - £2,441 creditor) owed by Rebel Lion Advertising Limited, a company owned by Jones Family Investments Group Limited.
Included in other debtors is an amount of £368 (2023 - £0) owed by FRZN Limited, a company owned by Jones Family Investments Group Limited.
10
Directors' transactions
Advances or credits have been granted by the company to its director as follows:
Description
% Rate
Opening balance
Amounts advanced
Amounts repaid
Closing balance
£
£
£
£
Directors' loan
-
(4,196)
8,082
(3,886)
-
(4,196)
8,082
(3,886)
-