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REGISTERED NUMBER: 12481850 (England and Wales)









PHILIP JONES BUILDERS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024






PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

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










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


PHILIP JONES BUILDERS LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: D Anthony





REGISTERED OFFICE: Dolafon Yard
Dolafon Road
Newtown
Powys
SY16 2JB





REGISTERED NUMBER: 12481850 (England and Wales)





ACCOUNTANTS: Morgans
Clive House
Severn Road
Welshpool
Powys
SY21 7AL

PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

STATEMENT OF FINANCIAL POSITION
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 15,067 17,327
Tangible assets 5 121,985 67,438
137,052 84,765

CURRENT ASSETS
Stocks 114,270 62,184
Debtors 6 375,255 317,111
Cash at bank 198,252 4,413
687,777 383,708
CREDITORS
Amounts falling due within one year 7 451,091 371,211
NET CURRENT ASSETS 236,686 12,497
TOTAL ASSETS LESS CURRENT
LIABILITIES

373,738

97,262

CREDITORS
Amounts falling due after more than one
year

8

(19,906

)

(29,922

)

PROVISIONS FOR LIABILITIES (27,450 ) (6,534 )
NET ASSETS 326,382 60,806

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 326,282 60,706
326,382 60,806

PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

STATEMENT OF FINANCIAL POSITION - continued
29 FEBRUARY 2024


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 director acknowledges his 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 29 November 2024 and were signed by:





D Anthony - Director


PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

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


1. STATUTORY INFORMATION

Philip Jones Builders 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.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2020, is being amortised evenly over its estimated useful life of ten years.

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

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 Statement of Income and Retained Earnings, 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.


PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

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


2. ACCOUNTING POLICIES - continued
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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 7 (2023 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 22,600
AMORTISATION
At 1 March 2023 5,273
Charge for year 2,260
At 29 February 2024 7,533
NET BOOK VALUE
At 29 February 2024 15,067
At 28 February 2023 17,327

PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

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


5. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 March 2023 48,925 47,761 8,899 105,585
Additions 11,116 61,390 3,488 75,994
Disposals (600 ) - - (600 )
At 29 February 2024 59,441 109,151 12,387 180,979
DEPRECIATION
At 1 March 2023 15,017 18,886 4,244 38,147
Charge for year 6,340 13,055 1,535 20,930
Eliminated on disposal (83 ) - - (83 )
At 29 February 2024 21,274 31,941 5,779 58,994
NET BOOK VALUE
At 29 February 2024 38,167 77,210 6,608 121,985
At 28 February 2023 33,908 28,875 4,655 67,438

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 327,102 268,958
Amounts owed by associates 48,153 48,153
375,255 317,111

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,015 9,770
Trade creditors 129,683 170,522
Taxation and social security 194,599 53,205
Other creditors 116,794 137,714
451,091 371,211

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN
ONE YEAR
2024 2023
£    £   
Bank loans 19,906 29,922

PHILIP JONES BUILDERS LIMITED (REGISTERED NUMBER: 12481850)

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


9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 29,921 39,692

The loan is guaranteed by the government.