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REGISTERED NUMBER: 03280042 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024

FOR

JONSEL LIMITED

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JONSEL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 JUNE 2024







DIRECTORS: L W Jones
Mrs L Jones





REGISTERED OFFICE: Gwbert Hotel
Gwbert On Sea
Cardigan
Ceredigion
SA43 1PP





REGISTERED NUMBER: 03280042 (England and Wales)





ACCOUNTANTS: Great Nash Accountancy Services
31 Church View
Summerhill
Stepaside
Pembrokeshire
SA67 8LZ

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

BALANCE SHEET
30 JUNE 2024

30.6.24 30.6.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 5,209,134 3,787,305
Investment property 5 2,244,996 2,105,595
7,454,130 5,892,900

CURRENT ASSETS
Stocks 197,307 168,119
Debtors 6 1,101,267 1,205,009
Cash at bank and in hand 15,812 81,771
1,314,386 1,454,899
CREDITORS
Amounts falling due within one year 7 5,519,679 4,651,132
NET CURRENT LIABILITIES (4,205,293 ) (3,196,233 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,248,837

2,696,667

CREDITORS
Amounts falling due after more than one
year

8

(2,505,987

)

(1,780,705

)

PROVISIONS FOR LIABILITIES (78,886 ) (62,956 )
NET ASSETS 663,964 853,006

CAPITAL AND RESERVES
Called up share capital 100 100
Undistributable reserve 10 324,232 324,232
Retained earnings 339,632 528,674
SHAREHOLDERS' FUNDS 663,964 853,006

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 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.

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

BALANCE SHEET - continued
30 JUNE 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 22 January 2025 and were signed on its behalf by:





L W Jones - Director


JONSEL LIMITED (REGISTERED NUMBER: 03280042)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024


1. STATUTORY INFORMATION

Jonsel 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 as modified by the revaluation of certain assets.

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.
Plant and machinery etc - 15% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

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 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.

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.

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


2. ACCOUNTING POLICIES - continued

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 5 (2023 - 14 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 July 2023 3,444,698 571,889 4,016,587
Additions 1,627,202 156,707 1,783,909
Reclassification/transfer (287,183 ) - (287,183 )
At 30 June 2024 4,784,717 728,596 5,513,313
DEPRECIATION
At 1 July 2023 - 229,282 229,282
Charge for year - 74,897 74,897
At 30 June 2024 - 304,179 304,179
NET BOOK VALUE
At 30 June 2024 4,784,717 424,417 5,209,134
At 30 June 2023 3,444,698 342,607 3,787,305

Cost or valuation at 30 June 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 2,145,148 203,100 2,348,248
Valuation in 2020 133,294 37,991 171,285
Valuation in 2021 156,939 656 157,595
Valuation in 2022 98,840 116,259 215,099
Valuation in 2023 910,477 213,883 1,124,360
Valuation in 2024 1,340,019 156,707 1,496,726
4,784,717 728,596 5,513,313

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 July 2023 2,105,595
Additions 139,401
At 30 June 2024 2,244,996
NET BOOK VALUE
At 30 June 2024 2,244,996
At 30 June 2023 2,105,595

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Trade debtors - 464
Other debtors 1,101,267 1,204,545
1,101,267 1,205,009

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
30.6.24 30.6.23
£    £   
Bank loans and overdrafts 265,420 230,124
Trade creditors 109,935 253,289
Taxation and social security 10,507 16,335
Other creditors 5,133,817 4,151,384
5,519,679 4,651,132

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
30.6.24 30.6.23
£    £   
Bank loans 2,505,987 1,780,705

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 1,702,628 945,626

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


9. SECURED DEBTS

The following secured debts are included within creditors:

30.6.24 30.6.23
£    £   
Bank overdraft 29,226 -
Bank loans 2,742,181 2,010,829
2,771,407 2,010,829

HSBC Bank Plc hold the following security as registered on the stated dates.

11/11/19 - Legal mortgage over Riversmouth
4/11/19 - Legal mortgage over land at Gwbert, Meusydd, Greenmeadow, Sandbank
23/10/19 - Fixed and floating charge over assets

Swansea Building Society holds a fixed and floating charge over Ffin Yr Afon, Gwbert dated 6/7/23

10. RESERVES
Undistributable
reserve
£   
At 1 July 2023
and 30 June 2024 324,232

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2024 and 30 June 2023:

30.6.24 30.6.23
£    £   
L W Jones
Balance outstanding at start of year 197,071 9,663
Amounts advanced 22,504 363,000
Amounts repaid (80,000 ) (175,592 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 139,575 197,071

JONSEL LIMITED (REGISTERED NUMBER: 03280042)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 JUNE 2024


12. RELATED PARTY DISCLOSURES

The company has carried out development and maintenance work on behalf of related party companies to the value of £65,620 during the year (2023 £136,208). The entities are related parties by nature of their common control.

The company was charged £13,704 for laundry services from a related party during the year (2023 £6,753). This related party was under common control. The company was also charged £441,909 to develop new properties during the year by another related party with common control.

The company is owed £1,071,560 as at the Balance Sheet date by entities which share common control (2023 £1,076,136) while owing £4,718,729 as at the Balance Sheet date to separate entities who share common control (2023 £3,662,112).

13. ULTIMATE CONTROLLING PARTY

Mr L W Jones holds the controlling interest in the company by virtue of his majority shareholding.