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REGISTERED NUMBER: 10314115 (England and Wales)












JONES INTERNATIONAL TRADING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

1 SEPTEMBER 2022 TO 29 FEBRUARY 2024






JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JONES INTERNATIONAL TRADING LIMITED

COMPANY INFORMATION
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024







DIRECTORS: D M Jones
Mrs J J Jones





REGISTERED OFFICE: 34 Woodlands Park Road
London
SE10 9XD





REGISTERED NUMBER: 10314115 (England and Wales)





ACCOUNTANTS: Bevan Buckland LLP
Ground Floor Cardigan House
Castle Court
Swansea Enterprise Park
Swansea
SA7 9LA

JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

BALANCE SHEET
29 FEBRUARY 2024

2024 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 9,474 15,184

CURRENT ASSETS
Stocks - 98,025
Debtors 5 182,104 103,283
Cash at bank 30,663 211,558
212,767 412,866
CREDITORS
Amounts falling due within one year 6 47,523 101,756
NET CURRENT ASSETS 165,244 311,110
TOTAL ASSETS LESS CURRENT
LIABILITIES

174,718

326,294

CREDITORS
Amounts falling due after more than one
year

7

31,225

31,976
NET ASSETS 143,493 294,318

CAPITAL AND RESERVES
Called up share capital 101 101
Retained earnings 143,392 294,217
143,493 294,318

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

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

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.

JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

BALANCE SHEET - continued
29 FEBRUARY 2024



The financial statements were approved by the Board of Directors and authorised for issue on 13 January 2025 and were signed on its behalf by:





D M Jones - Director


JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Jones International Trading 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.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

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 period 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 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 period 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

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.

JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,
value added tax and other sales taxes.Turnover is represented by Amazon platform sales in the UK and Europe

Government grants
Government grants towards revenue items are released to the profit and loss account when the expenditure is incurred.

Cash at bank and cash in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account.

Debtors
Short term debtors are measured at transaction price, less any impairment.

Creditors
Short term creditors are measured at transaction price.

Provision for liabilities
Provisions are recognised when the company has a present obligation (legal and constructive) from a past event that will probably result in a transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably.

Functional and Presentation Currency
The company's functional and presentation currency is pounds sterling.

Going Concern
The company continues to adopt the going concern basis in preparing its financial statements.

Financial Instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include trade and other receivables and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Trade debtors, loans and other receivables that have fixed or determinable payments that are not quoted in an active market are classified as 'loans and receivables'. Loans and receivables are measured at amortised cost using the effective interest method, less any impairment.

Interest is recognised by applying the effective interest rate, except for short-term receivables when the recognition of interest would be immaterial. The effective interest method is a method of calculating the amortised cost of a debt instrument and of allocating the interest income over the relevant period. The effective interest rate is the rate that exactly discounts estimated future cash receipts through the expected life of the debt instrument to the net carrying amount on initial recognition.

JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024

2. ACCOUNTING POLICIES - continued

Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Basic financial liabilities
Basic financial liabilities, including trade and other payables, bank loans that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade payables are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade payables are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into, An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Derecognition of financial liabilities
Financial liabilities are derecognised when the company's contractual obligations expire or are discharged or cancelled.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 2 (2022 - 2 ) .

JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 September 2022 20,981
Additions 1,146
Disposals (1,311 )
At 29 February 2024 20,816
DEPRECIATION
At 1 September 2022 5,797
Charge for period 5,572
Eliminated on disposal (27 )
At 29 February 2024 11,342
NET BOOK VALUE
At 29 February 2024 9,474
At 31 August 2022 15,184

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Trade debtors 155,243 9,704
Amounts owed by group undertakings 600 -
Other debtors 26,261 93,579
182,104 103,283

Included in other debtors is £13,814 (2022 £19,952) being a connected party loan which is repayable on demand and interest-free.

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2022
£    £   
Bank loans and overdrafts 7,838 8,256
Trade creditors 4,823 25,833
Taxation and social security 33,792 64,541
Other creditors 1,070 3,126
47,523 101,756

Included in other creditors is £49 being a director's loan account, which is repayable on demand and interest-free.

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2022
£    £   
Bank loans 31,225 31,976

JONES INTERNATIONAL TRADING LIMITED (REGISTERED NUMBER: 10314115)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 1 SEPTEMBER 2022 TO 29 FEBRUARY 2024

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the period ended 29 February 2024 and the year ended 31 August 2022:

2024 2022
£    £   
D M Jones
Balance outstanding at start of period 20,796 (9,069 )
Amounts advanced 173,232 78,612
Amounts repaid (194,077 ) (48,747 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (49 ) 20,796

Mrs J J Jones
Balance outstanding at start of period (139 ) 9,035
Amounts advanced 139 53,261
Amounts repaid - (62,435 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period - (139 )