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REGISTERED NUMBER: 03805261 (England and Wales)


















A J REES AND SONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






A J REES AND SONS LIMITED (REGISTERED NUMBER: 03805261)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


A J REES AND SONS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr A J Rees
Mr T Rees





SECRETARY: Mr A J Rees





REGISTERED OFFICE: 29 High Street
Narberth
Pembrokeshire
SA67 7AR





REGISTERED NUMBER: 03805261 (England and Wales)





ACCOUNTANTS: Llewelyn Davies
Chartered Accountants
Yelverton House
St John Street
Whitland
Carmarthenshire
SA34 0AW

A J REES AND SONS LIMITED (REGISTERED NUMBER: 03805261)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 354,133 414,875

CURRENT ASSETS
Stocks 97,000 75,129
Debtors 5 2,307,809 1,943,059
Cash at bank and in hand 509,133 611,960
2,913,942 2,630,148
CREDITORS
Amounts falling due within one year 6 535,986 440,493
NET CURRENT ASSETS 2,377,956 2,189,655
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,732,089

2,604,530

CREDITORS
Amounts falling due after more than
one year

7

(105,143

)

(133,530

)

PROVISIONS FOR LIABILITIES (40,788 ) (29,631 )

ACCRUALS AND DEFERRED INCOME (38,616 ) (44,408 )
NET ASSETS 2,547,542 2,396,961

CAPITAL AND RESERVES
Called up share capital 1,003 1,003
Retained earnings 2,546,539 2,395,958
2,547,542 2,396,961

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

A J REES AND SONS LIMITED (REGISTERED NUMBER: 03805261)

BALANCE SHEET - continued
29 FEBRUARY 2024


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 29 November 2024 and were signed on its behalf by:





Mr A J Rees - Director


A J REES AND SONS LIMITED (REGISTERED NUMBER: 03805261)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

A J Rees And 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.
Land and buildings - 5% on cost and 5% on reducing balance
Plant and machinery etc - 25% on reducing balance, 15% on reducing balance and 5% 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 27 (2023 - 27 ) .

A J REES AND SONS LIMITED (REGISTERED NUMBER: 03805261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 March 2023 383,878 982,788 1,366,666
Additions - 36,095 36,095
Disposals - (53,530 ) (53,530 )
At 29 February 2024 383,878 965,353 1,349,231
DEPRECIATION
At 1 March 2023 200,905 750,886 951,791
Charge for year 17,612 42,298 59,910
Eliminated on disposal - (16,603 ) (16,603 )
At 29 February 2024 218,517 776,581 995,098
NET BOOK VALUE
At 29 February 2024 165,361 188,772 354,133
At 28 February 2023 182,973 231,902 414,875

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,909,769 1,659,432
Other debtors 398,040 283,627
2,307,809 1,943,059

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loan 19,029 17,944
Trade creditors 386,032 351,780
Taxation and social security 111,905 65,091
Other creditors 19,020 5,678
535,986 440,493

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans 105,143 124,172
Receipts in advance - 9,358
105,143 133,530

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after 5 years 41,154 53,239

A J REES AND SONS LIMITED (REGISTERED NUMBER: 03805261)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
Mr A J Rees
Balance outstanding at start of year 243,420 276,377
Amounts advanced 22,031 -
Amounts repaid (72,000 ) (32,957 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 193,451 243,420