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REGISTERED NUMBER: 04933699 (England and Wales)






















Unaudited Financial Statements

for the Year Ended 30 November 2023

for

G S Jones & Sons Limited

G S Jones & Sons Limited (Registered number: 04933699)






Contents of the Financial Statements
for the Year Ended 30 November 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


G S Jones & Sons Limited

Company Information
for the Year Ended 30 November 2023







DIRECTORS: G S Jones
J G Jones
Mrs K M Jones
S M Jones
S R Jones





SECRETARY: S M Jones





REGISTERED OFFICE: Dell House
High Street
Washingborough
Lincoln
LN4 1BG





REGISTERED NUMBER: 04933699 (England and Wales)





ACCOUNTANTS: Wright Vigar Limited
Chartered Accountants & Business Advisers
15 Newland
Lincoln
Lincolnshire
LN1 1XG

G S Jones & Sons Limited (Registered number: 04933699)

Balance Sheet
30 November 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,337 105,787

CURRENT ASSETS
Stocks 150,000 120,000
Debtors 5 81,687 157,378
Cash at bank 28,794 52,397
260,481 329,775
CREDITORS
Amounts falling due within one year 6 224,025 282,106
NET CURRENT ASSETS 36,456 47,669
TOTAL ASSETS LESS CURRENT
LIABILITIES

123,793

153,456

CREDITORS
Amounts falling due after more than one
year

7

(38,272

)

(47,099

)

PROVISIONS FOR LIABILITIES (7,255 ) (10,323 )
NET ASSETS 78,266 96,034

CAPITAL AND RESERVES
Called up share capital 10,000 10,000
Retained earnings 68,266 86,034
78,266 96,034

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 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.

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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 August 2024 and were signed on its behalf by:





S M Jones - Director


G S Jones & Sons Limited (Registered number: 04933699)

Notes to the Financial Statements
for the Year Ended 30 November 2023

1. STATUTORY INFORMATION

G S Jones & Sons 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments
The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Comprehensive Income.

For financial assets measured at cost less impairment, the impairment loss is measured as the difference between an asset's carrying amount and best estimate of the recoverable amount, which is an approximation of the amount that the Company would receive for the asset if it were to be sold at the balance sheet date.

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.

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.

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

G S Jones & Sons Limited (Registered number: 04933699)

Notes to the Financial Statements - continued
for the Year Ended 30 November 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2022 - 6 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2022 104,969 111,081 484 216,534
Additions 6,100 833 - 6,933
Disposals (3,603 ) - - (3,603 )
At 30 November 2023 107,466 111,914 484 219,864
DEPRECIATION
At 1 December 2022 53,296 57,064 387 110,747
Charge for year 10,840 13,592 32 24,464
Eliminated on disposal (2,684 ) - - (2,684 )
At 30 November 2023 61,452 70,656 419 132,527
NET BOOK VALUE
At 30 November 2023 46,014 41,258 65 87,337
At 30 November 2022 51,673 54,017 97 105,787

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 70,249 151,105
Amounts owed by group undertakings 55 55
Other debtors 11,383 6,218
81,687 157,378

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 13,954 15,421
Trade creditors 88,655 88,133
Taxation and social security 13,254 14,009
Other creditors 108,162 164,543
224,025 282,106

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2023 2022
£    £   
Hire purchase contracts 38,272 47,099