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REGISTERED NUMBER: 13215355 (England and Wales)












Jones Trelay Ltd

Unaudited Financial Statements

for the Year Ended 31 March 2024






Jones Trelay Ltd (Registered number: 13215355)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Jones Trelay Ltd

Company Information
for the Year Ended 31 March 2024







DIRECTORS: C N Jones Esq
Mrs J A Jones
T W Jones Esq
Mrs C L Jones





REGISTERED OFFICE: Trelay
Davidstow
CAMELFORD
Cornwall
PL32 9YB





REGISTERED NUMBER: 13215355 (England and Wales)





ACCOUNTANTS: ATC Advisors
Chartered Accountants
Unit 2 Dunheved Court
Pennygillam Way
LAUNCESTON
Cornwall
PL15 7ED

Jones Trelay Ltd (Registered number: 13215355)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 2,666,852 2,650,939

CURRENT ASSETS
Stocks 1,138,946 885,937
Debtors 5 86,314 121,611
Cash at bank 236 61,463
1,225,496 1,069,011
CREDITORS
Amounts falling due within one year 6 1,018,083 851,274
NET CURRENT ASSETS 207,413 217,737
TOTAL ASSETS LESS CURRENT LIABILITIES 2,874,265 2,868,676

CREDITORS
Amounts falling due after more than one year 7 (2,892,115 ) (2,838,870 )

PROVISIONS FOR LIABILITIES (11,914 ) (40,370 )
NET LIABILITIES (29,764 ) (10,564 )

CAPITAL AND RESERVES
Called up share capital 1,332 999
Retained earnings (31,096 ) (11,563 )
(29,764 ) (10,564 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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 12 November 2024 and were signed on its behalf by:




Mrs J A Jones - Director


Jones Trelay Ltd (Registered number: 13215355)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Jones Trelay Ltd 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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the year ended 31 March 2024 are the first that are prepared in accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance with FRS 105, the date of transition to FRS 102 Section 1A is 1 April 2022.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 4% on cost and not provided for on Land
Plant and machinery etc - 25% on reducing balance and 15% on cost

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

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.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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
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.

Jones Trelay Ltd (Registered number: 13215355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 April 2023 2,217,934 560,015 2,777,949
Additions 843 215,701 216,544
Disposals - (67,628 ) (67,628 )
At 31 March 2024 2,218,777 708,088 2,926,865
DEPRECIATION
At 1 April 2023 13,144 113,866 127,010
Charge for year 13,010 141,177 154,187
Eliminated on disposal - (21,184 ) (21,184 )
At 31 March 2024 26,154 233,859 260,013
NET BOOK VALUE
At 31 March 2024 2,192,623 474,229 2,666,852
At 31 March 2023 2,204,790 446,149 2,650,939

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 April 2023 123,400
Additions 105,250
Disposals (55,350 )
At 31 March 2024 173,300
DEPRECIATION
At 1 April 2023 21,609
Charge for year 35,856
Eliminated on disposal (16,135 )
At 31 March 2024 41,330
NET BOOK VALUE
At 31 March 2024 131,970
At 31 March 2023 101,791

Jones Trelay Ltd (Registered number: 13215355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 54,769 81,468
Other debtors 31,545 40,143
86,314 121,611

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 254,727 143,924
Hire purchase contracts 27,260 28,126
Trade creditors 214,131 156,267
Other creditors 521,965 522,957
1,018,083 851,274

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans (see note 8) 2,826,810 2,794,774
Hire purchase contracts 65,305 44,096
2,892,115 2,838,870

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,237,504 2,400,738

8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank overdrafts 192,761 100,751
Bank loans 61,966 43,173
254,727 143,924

Amounts falling due between one and two years:
Bank loans - 1-2 years 141,295 18,409

Amounts falling due between two and five years:
Bank loans - 2-5 years 448,011 375,627

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 2,237,504 2,400,738

Jones Trelay Ltd (Registered number: 13215355)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

8. LOANS - continued

National Westminster Bank PLC holds a fixed charge over all land and plant and machinery owned now or in the future by the company.

9. GOING CONCERN

The company is reliant on the continued support of the directors in order to trade.