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REGISTERED NUMBER: 06643355 (England and Wales)















Jones Lighting Limited

Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 31 March 2024






Jones Lighting Limited (Registered number: 06643355)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Report of the Independent Auditors 5

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 Lighting Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: DS Jones
AJ Jones
WDC Jones





REGISTERED OFFICE: Suite 5
Farington House
Lancashire Business Park
Leyland
Lancashire
PR26 6TW





REGISTERED NUMBER: 06643355 (England and Wales)





AUDITORS: McMillan & Co LLP
Chartered Accountants and
Statutory Auditor
28 Eaton Avenue
Matrix Office Park
Buckshaw Village
Chorley
Lancashire
PR7 7NA

Jones Lighting Limited (Registered number: 06643355)

Strategic Report
for the year ended 31 March 2024

The directors present their strategic report for the year ended 31 March 2024.

REVIEW OF BUSINESS
The company is focused on maintaining and building upon its' reputation as one of the leading street and infrastructure lighting contractors in the UK, together with offering project management, consultancy and maintenance services. We are committed to developing and training our staff and to delivering a very high standard of workmanship to everything that we do. Our long term objective is to continue to grow the business, both in our traditional markets as well as looking for new opportunities, whilst at the same time ensuring that any new work only adds to the profitability of the company. This will be done whilst retaining the Jones Lighting core values.

We continue to build upon the organisational changes and procedural efficiencies we started in recent years and by completing contracts on time and to budget we have enjoyed another profitable year. Turnover for the year ended 31 March 2024 was £12.1m which was some £2.7m higher than 2023 and profit before tax was £1.8m compared to £0.7m for 2023. Our bank balance has grown from £1.8m to £2.2m which is after considerable capital spend in the year.

The directors and management would like to thank the whole workforce for these good results.

At the time of signing these financial statements the conflicts in the Middle East and Ukraine were still on-going and there remains difficult economic conditions, but the directors are confident that with a strong balance sheet and healthy order book the company can meet any future challenges.

KEY PERFORMANCE INDICATORS
The directors monitor the performance of the company on the following Key Performance Indicators ("KPI's");

Year ended Year ended
31 March 2024 31 March 2023
Gross profit margin 26.3% 20.1%
Operating profit margin 14.8% 7.7%
EBITDA £1,948k £771k

PRINCIPAL RISKS AND UNCERTAINTIES
As noted in the Review of Business, the principal risks faced at the moment are the effects on the world economy and material prices brought about due to the conflict in the Middle East and Ukraine plus interest rate and inflationary pressures in the UK. The effects of these factors will no doubt impact upon government taxation policy and consequently the amount of funding available for lighting and infrastructure projects. However, the directors feel that the company, with the support of the parent group, is well placed to weather any economic storms as it has a strategy of minimising costs as much as practicable and maintaining a significant cash reserve.

ON BEHALF OF THE BOARD:





DS Jones - Director


23 October 2024

Jones Lighting Limited (Registered number: 06643355)

Report of the Directors
for the year ended 31 March 2024

The directors present their report with the financial statements of the company for the year ended 31 March 2024.

DIVIDENDS
During the year the company paid a dividend of £500,000 (2023: £300,000) to the parent undertaking.

FUTURE DEVELOPMENTS
The company intends to continue with the growth policies that have proven to be successful so far and it will continue to search for new sales opportunities.

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

DS Jones
AJ Jones
WDC Jones

EMPLOYEES
Details of the number of employees and related costs are included within the notes to the financial statements.

Applications for employment by disabled persons are always fully considered, bearing in mind the aptitudes of the applicant concerned. In the event of an employee becoming disabled every effort is made to ensure that their employment with the company continues and that appropriate training and support is given. It is the policy of the company that the training, career development and promotion of disabled persons should, as far as possible, be identical with that of other employees. The company has policies and practices to keep employees informed on matters relevant to them as employees through regular meetings and other communications. Employee representatives are consulted regularly on a wide range of matters affecting their interests.

ENVIRONMENTAL
The company recognises the importance of its environmental responsibilities, monitors its impact on the environment and designs and implements policies to reduce any damage that might be caused by the company's activities. Such initiatives include the use of low emission vehicles where practicable, the recycling of as much material and other items as practically possible and reducing energy consumption.

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). 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.

Jones Lighting Limited (Registered number: 06643355)

Report of the Directors
for the year ended 31 March 2024


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 or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, McMillan & Co LLP, are deemed to be reappointed under section 487(2) of the Companies Act 2006.

ON BEHALF OF THE BOARD:





DS Jones - Director


23 October 2024

Report of the Independent Auditors to the Members of
Jones Lighting Limited

Opinion
We have audited the financial statements of Jones Lighting Limited (the 'company') for the year ended 31 March 2024 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 March 2024 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.

Report of the Independent Auditors to the Members of
Jones Lighting Limited


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.

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.

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:

Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:

- the engagement partner ensured that the engagement team collectively had the appropriate competence, capabilities and skills to identify or recognise non-compliance with applicable laws and regulations;
- we identified the laws and regulations applicable to the company through discussions with directors and other management, and from our commercial knowledge and experience of the sector;
- we focused on specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, including the Companies Act 2006, taxation legislation and data protection, anti-bribery, employment, environmental and health and safety legislation;
- we assessed the extent of compliance with the laws and regulations identified above through making enquiries of management and inspecting legal correspondence; and
- identified laws and regulations were communicated within the audit team regularly and the team remained alert to instances of non-compliance throughout the audit.


Report of the Independent Auditors to the Members of
Jones Lighting Limited


We assessed the susceptibility of the company's financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:

- making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
- considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.

To address the risk of fraud through management bias and override of controls, we:

- performed analytical procedures to identify any unusual or unexpected relationships;
- tested journal entries to identify unusual transactions,

In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:

- agreeing financial statement disclosures to underlying supporting documentation;
- reading the minutes of meetings of those charged with governance;
- enquiring of management as to actual and potential litigation and claims; and
- reviewing correspondence with HMRC, relevant regulators including the Health and Safety Executive, and the company's legal advisors.

There are inherent limitations in our audit procedures described above. The more removed that laws and regulations are from financial transactions, the less likely it is that we would become aware of non-compliance. Auditing standards also limit the audit procedures required to identify non-compliance with laws and regulations to enquiry of the directors and other management and the inspection of regulatory and legal correspondence, if any.

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.

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.




Neil McMillan FCA (Senior Statutory Auditor)
for and on behalf of McMillan & Co LLP
Chartered Accountants and
Statutory Auditor

23 October 2024

Jones Lighting Limited (Registered number: 06643355)

Income Statement
for the year ended 31 March 2024

2024 2023
Notes £ £

TURNOVER 12,083,428 9,386,393

Cost of sales 8,905,571 7,499,559
GROSS PROFIT 3,177,857 1,886,834

Administrative expenses 1,392,700 1,167,214
OPERATING PROFIT 5 1,785,157 719,620

Interest receivable and similar income 32,878 2,855
1,818,035 722,475

Interest payable and similar expenses 6 3,809 2,274
PROFIT BEFORE TAXATION 1,814,226 720,201

Tax on profit 7 453,678 137,454
PROFIT FOR THE FINANCIAL YEAR 1,360,548 582,747

Jones Lighting Limited (Registered number: 06643355)

Other Comprehensive Income
for the year ended 31 March 2024

2024 2023
Notes £ £

PROFIT FOR THE YEAR 1,360,548 582,747


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

1,360,548

582,747

Jones Lighting Limited (Registered number: 06643355)

Balance Sheet
31 March 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible assets 9 - -
Tangible assets 10 655,001 248,801
655,001 248,801

CURRENT ASSETS
Stocks 11 818,333 1,025,959
Debtors 12 3,132,538 2,427,114
Cash at bank and in hand 2,197,855 1,759,453
6,148,726 5,212,526
CREDITORS
Amounts falling due within one year 13 3,717,101 3,336,799
NET CURRENT ASSETS 2,431,625 1,875,727
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,086,626

2,124,528

PROVISIONS FOR LIABILITIES 16 163,750 62,200
NET ASSETS 2,922,876 2,062,328

CAPITAL AND RESERVES
Called up share capital 17 100 100
Retained earnings 18 2,922,776 2,062,228
SHAREHOLDERS' FUNDS 2,922,876 2,062,328

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:





DS Jones - Director


Jones Lighting Limited (Registered number: 06643355)

Statement of Changes in Equity
for the year ended 31 March 2024

Called up
share Retained Total
capital earnings equity
£ £ £
Balance at 1 April 2022 100 1,779,481 1,779,581

Changes in equity
Dividends - (300,000 ) (300,000 )
Total comprehensive income - 582,747 582,747
Balance at 31 March 2023 100 2,062,228 2,062,328

Changes in equity
Dividends - (500,000 ) (500,000 )
Total comprehensive income - 1,360,548 1,360,548
Balance at 31 March 2024 100 2,922,776 2,922,876

Jones Lighting Limited (Registered number: 06643355)

Cash Flow Statement
for the year ended 31 March 2024

2024 2023
Notes £ £
Cash flows from operating activities
Cash generated from operations 1 1,965,204 501,805
Interest element of hire purchase
payments paid

(3,809

)

(2,274

)
Tax paid (134,537 ) (113,635 )
Net cash from operating activities 1,826,858 385,896

Cash flows from investing activities
Purchase of tangible fixed assets (639,566 ) (70,934 )
Sale of tangible fixed assets 70,184 7,500
Interest received 32,878 2,855
Net cash from investing activities (536,504 ) (60,579 )

Cash flows from financing activities
Capital repayments in year 148,655 (6,984 )
Amount withdrawn by directors (6,032 ) -
Movement in group financing (494,575 ) 67,500
Equity dividends paid (500,000 ) (300,000 )
Net cash from financing activities (851,952 ) (239,484 )

Increase in cash and cash equivalents 438,402 85,833
Cash and cash equivalents at
beginning of year

2

1,759,453

1,673,620

Cash and cash equivalents at end of
year

2

2,197,855

1,759,453

Jones Lighting Limited (Registered number: 06643355)

Notes to the Cash Flow Statement
for the year ended 31 March 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£ £
Profit before taxation 1,814,226 720,201
Depreciation charges 169,454 56,604
Profit on disposal of fixed assets (6,272 ) (4,838 )
Finance costs 3,809 2,274
Finance income (32,878 ) (2,855 )
1,948,339 771,386
Decrease/(increase) in stocks 207,626 (421,764 )
(Increase)/decrease in trade and other debtors (705,424 ) 70,349
Increase in trade and other creditors 514,663 81,834
Cash generated from operations 1,965,204 501,805

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 March 2024
31/3/24 1/4/23
£ £
Cash and cash equivalents 2,197,855 1,759,453
Year ended 31 March 2023
31/3/23 1/4/22
£ £
Cash and cash equivalents 1,759,453 1,673,620


3. ANALYSIS OF CHANGES IN NET FUNDS

At 1/4/23 Cash flow At 31/3/24
£ £ £
Net cash
Cash at bank and in hand 1,759,453 438,402 2,197,855
1,759,453 438,402 2,197,855
Debt
Finance leases - (148,655 ) (148,655 )
- (148,655 ) (148,655 )
Total 1,759,453 289,747 2,049,200

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Jones Lighting 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 (£) and the amounts in the financial statements have been rounded to the nearest £1.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The directors have considered the possible effects that the continued conflict in Ukraine is having on both the supply chain and material prices plus the inflationary and supply issues facing the UK economy and the impact these may have on trading activity. The directors are extremely confident that the company will continue to occupy a strong market position and point out the buoyant sales order-book and strong cash reserves. Consequently the directors have continued to prepare the financial statements on the going concern basis without any adjustments that might arise due to these factors.

Significant judgements and estimates
In preparing the financial statements the directors have made judgement, estimates and assumptions that affect the application of accounting policies and reported amounts of assets, liabilities, income and expenditure. The estimates and assumptions are based on historic experiences, future predictions and various other factors that are believed to be appropriate and reasonable under the circumstances. The judgements, estimates and assumptions which have a significant risk of causing a material adjustment to the carrying value of assets and liabilities are the valuation of stocks and bad and doubtful debts.

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

Revenue is recognised, in respect of contracts where the company's contractual obligations are performed gradually over time, as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

Goodwill
Goodwill arising on the acquisition of a business acquired in 2015 was amortised over 3 years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

3. ACCOUNTING POLICIES - continued

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 - 25% on reducing balance
Fixtures & fittings - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Financial instruments
Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument. Basic financial assets, which include debtors, prepayments and bank balances, are initially measured at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the asset is measured at the present value of the future receipts discounted at a market rate of interest. Basic financial liabilities, which include creditors, accruals, loans and borrowings, are initially recognised at transaction price and are subsequently carried at cost unless the arrangement indicates otherwise and then the liability is measured at the present value of the future obligations discounted at a market rate of interest.

4. EMPLOYEES AND DIRECTORS
2024 2023
£ £
Wages and salaries 2,518,343 2,385,518
Social security costs 256,285 252,679
Other pension costs 309,127 120,181
3,083,755 2,758,378

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

4. EMPLOYEES AND DIRECTORS - continued

The average number of employees during the year was as follows:
2024 2023

Operatives and installers 69 67
Management and administration 11 10
80 77

2024 2023
£ £
Directors' remuneration 28,325 99,077
Directors' pension contributions to money purchase schemes 180,000 1,951

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 3 3

5. OPERATING PROFIT

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

2024 2023
£ £
Depreciation - owned assets 169,454 56,604
Profit on disposal of fixed assets (6,272 ) (4,838 )
Auditors' remuneration 5,600 5,400

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£ £
Hire purchase 3,809 2,274

7. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£ £
Current tax:
UK corporation tax 352,128 134,537

Deferred tax 101,550 2,917
Tax on profit 453,678 137,454

UK corporation tax has been charged at 25% (2023 - 19%).

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

7. TAXATION - continued

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

2024 2023
£ £
Profit before tax 1,814,226 720,201
Profit multiplied by the standard rate of corporation tax in the UK of
25% (2023 - 19%)

453,557

136,838

Effects of:
Expenses not deductible for tax purposes 121 -
Effects of change in rates of tax and deferred tax - 701
Effect of other capital allowances legislation - (85 )
Total tax charge 453,678 137,454

8. DIVIDENDS
2024 2023
£ £
Ordinary shares of £1 each
Dividends paid 500,000 300,000

9. INTANGIBLE FIXED ASSETS
Goodwill
£
COST
At 1 April 2023
and 31 March 2024 6,000
AMORTISATION
At 1 April 2023
and 31 March 2024 6,000
NET BOOK VALUE
At 31 March 2024 -
At 31 March 2023 -

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

10. TANGIBLE FIXED ASSETS
Plant and Fixtures & Motor Computer
machinery fittings vehicles equipment Totals
£ £ £ £ £
COST
At 1 April 2023 80,437 26,849 630,769 103,203 841,258
Additions 24,702 1,612 600,177 13,075 639,566
Disposals (3,000 ) - (230,398 ) - (233,398 )
At 31 March 2024 102,139 28,461 1,000,548 116,278 1,247,426
DEPRECIATION
At 1 April 2023 55,999 22,641 418,292 95,525 592,457
Charge for year 9,423 1,455 151,727 6,849 169,454
Eliminated on disposal (3,000 ) - (166,486 ) - (169,486 )
At 31 March 2024 62,422 24,096 403,533 102,374 592,425
NET BOOK VALUE
At 31 March 2024 39,717 4,365 597,015 13,904 655,001
At 31 March 2023 24,438 4,208 212,477 7,678 248,801

Included within tangible fixed assets are items subject to outstanding hire purchase obligations. The book value of these assets at the year end was £189,074 and the depreciation charged on these assets in the year was £25,201. There were no assets subject to outstanding hire purchase obligations in the prior year.


11. STOCKS
2024 2023
£ £
Stock 818,333 1,025,959

12. DEBTORS
2024 2023
£ £
Amounts falling due within one year:
Trade debtors 3,032,435 1,798,927
Other debtors and prepayments 103 528,187
3,032,538 2,327,114

Amounts falling due after more than one year:
Other debtors 100,000 100,000

Aggregate amounts 3,132,538 2,427,114

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

13. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Hire purchase contracts (see note 14) 148,655 -
Trade creditors 460,756 794,529
Amounts owed to group undertakings 1,507,411 2,001,986
Corporation tax 352,128 134,537
Social security and other taxes 80,520 64,219
VAT 514,933 241,056
Other creditors 544,357 18,490
Directors' current accounts - 6,032
Accruals and deferred income 108,341 75,950
3,717,101 3,336,799

The amounts owing to the directors are unsecured, interest free and have no fixed repayment terms.

14. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 148,655 -

Non-cancellable
operating leases
2024 2023
£ £
Between one and five years 255,329 350,000

15. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Hire purchase contracts 148,655 -

16. PROVISIONS FOR LIABILITIES
2024 2023
£ £
Deferred tax
Accelerated capital allowances 163,750 62,200

Jones Lighting Limited (Registered number: 06643355)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

16. PROVISIONS FOR LIABILITIES - continued

Deferred tax
£
Balance at 1 April 2023 62,200
Charge to Income Statement during year 101,550
Balance at 31 March 2024 163,750

Deferred tax has been provided using a rate of 25% (2023: 25%).

17. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

18. RESERVES
Retained
earnings
£

At 1 April 2023 2,062,228
Profit for the year 1,360,548
Dividends (500,000 )
At 31 March 2024 2,922,776

19. ULTIMATE PARENT COMPANY

Andawes Limited is regarded by the directors as being the company's ultimate parent company.

20. RELATED PARTY DISCLOSURES

In the opinion of the directors the company is ultimately controlled by DS & AJ Jones, who are directors of the company, by virtue of their shareholdings in the parent undertaking.

During the year the company purchased goods and services for £279,328 (2023: £351,204) from Andawes Commercials Limited, a company in which DS Jones is also a director. At the year end the trade creditor owing to Andawes Commercials Limited was £16,774 (2023: £6,203) which is paid to Andawes Commercials Limited on a regular basis in the normal course of business. The amounts charged and paid were the normal market rates for such goods and services.

In addition there is an amount owing to Andawes Commercials Limited of £535,002 included in other creditors (2023: other debtors £528,157) which was repaid in full in June 2024.

21. ULTIMATE CONTROLLING PARTY

The directors consider Andawes Limited to be the ultimate controlling party.