Company registration number 00561440 (England and Wales)
JONES & TOMLIN (WORKSHOPS) LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
JONES & TOMLIN (WORKSHOPS) LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
JONES & TOMLIN (WORKSHOPS) LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
301
301
Tangible assets
5
3,496,941
1,556,513
3,497,242
1,556,814
Current assets
Stocks
1,859,408
1,489,037
Debtors
6
186,962
88,604
Cash at bank and in hand
84,654
159,970
2,131,024
1,737,611
Creditors: amounts falling due within one year
7
(2,435,773)
(1,358,987)
Net current (liabilities)/assets
(304,749)
378,624
Total assets less current liabilities
3,192,493
1,935,438
Creditors: amounts falling due after more than one year
8
(1,080,783)
(27,890)
Provisions for liabilities
(125,023)
(95,044)
Net assets
1,986,687
1,812,504
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
1,986,587
1,812,404
Total equity
1,986,687
1,812,504

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year 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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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

JONES & TOMLIN (WORKSHOPS) LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 28 November 2024 and are signed on its behalf by:
A H Tomlin
Director
Company Registration No. 00561440
JONES & TOMLIN (WORKSHOPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Jones & Tomlin (Workshops) Limited is a private company limited by shares incorporated in England and Wales. The registered office is 45 Sea Road East Preston West Sussex BN16 1JN.

1.1
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, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents amounts receivable for goods and services net of VAT and trade discounts. Turnover is recognised at the point of delivery.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on delivery of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Land and buildings Freehold
2% straight line basis
Leasehold land and buildings
10% per annum on cost
Computer equipment
33% straight line basis
Fixtures and fittings
25% reducing balance basis
Motor vehicles
25% reducing balance basis
1.5
Stocks

Stocks are stated at the lower of cost and net realisable value.

 

1.6
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

JONES & TOMLIN (WORKSHOPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.7
Leases

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to the profit and loss account so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was 35 (2023 - 34).

2024
2023
Number
Number
Total
35
34
3
Directors' remuneration
2024
2023
£
£
Remuneration paid to directors
266,383
194,302
4
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023 and 31 March 2024
301
Amortisation and impairment
At 1 April 2023 and 31 March 2024
-
0
Carrying amount
At 31 March 2024
301
At 31 March 2023
301
JONES & TOMLIN (WORKSHOPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
5
Tangible fixed assets
Land and buildings Freehold
Leasehold land and buildings
Computer equipment
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
£
Cost
At 1 April 2023
1,092,487
328,781
71,869
695,235
306,399
2,494,771
Additions
1,881,542
-
0
-
0
287,053
-
0
2,168,595
At 31 March 2024
2,974,029
328,781
71,869
982,288
306,399
4,663,366
Depreciation and impairment
At 1 April 2023
100,140
149,512
71,869
484,425
132,312
938,258
Depreciation charged in the year
29,741
30,439
-
0
124,466
43,521
228,167
At 31 March 2024
129,881
179,951
71,869
608,891
175,833
1,166,425
Carrying amount
At 31 March 2024
2,844,148
148,830
-
0
373,397
130,566
3,496,941
At 31 March 2023
992,347
179,269
-
0
210,810
174,087
1,556,513
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
183,962
87,959
Other debtors
3,000
645
186,962
88,604
JONES & TOMLIN (WORKSHOPS) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
7
Creditors: amounts falling due within one year
2024
2023
Notes
£
£
Bank loans and overdrafts
95,918
-
0
Obligations under finance leases
27,890
4,641
Trade creditors
1,243,111
974,705
Corporation tax
48,290
30,275
Other taxation and social security
215,971
145,960
Other creditors
795,343
194,706
Accruals and deferred income
9,250
8,700
2,435,773
1,358,987
Included in other creditors is an amount of £757,197 (2023 : £144,902) which relates to a Director's loan account.
8
Creditors: amounts falling due after more than one year
2024
2023
Notes
£
£
Bank loans and overdrafts
1,080,783
-
0
Obligations under finance leases
-
0
27,890
1,080,783
27,890

The Company obtained a loan from National Westminster Bank Plc for £1.2m which is repayable over a 25 year period. There is a fixed interest period of 10 years and the rate of interest will be 6.41% with monthly repayments of £8k. After 10 years the rate will be 1.95% over the Bank's base rate.

9
Charge on Company Property

On 2.5.23 the National Westminster Bank Plc acquired a fixed charge over the property, Cavendish House, Sydenham Road, Guildford GU1 3RX.

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