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REGISTERED NUMBER: 10017655 (England and Wales)




GROUP STRATEGIC REPORT,

REPORT OF THE DIRECTORS AND

CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

S JONES HOLDINGS LIMITED

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)






CONTENTS OF THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 30 April 2024




Page

Company Information 1

Group Strategic Report 2

Report of the Directors 4

Report of the Independent Auditors 5

Consolidated Income Statement 9

Consolidated Other Comprehensive Income 10

Consolidated Balance Sheet 11

Company Balance Sheet 12

Consolidated Statement of Changes in Equity 13

Company Statement of Changes in Equity 14

Consolidated Cash Flow Statement 15

Notes to the Consolidated Cash Flow Statement 16

Notes to the Consolidated Financial Statements 17


S JONES HOLDINGS LIMITED

COMPANY INFORMATION
for the year ended 30 April 2024







DIRECTORS: M E Jones
A E Jones
Mrs M E Jones





SECRETARIES: Mrs M James
Mrs H Oldham





REGISTERED OFFICE: Anglian Road
Aldridge
Walsall
West Midlands
WS9 8ET





REGISTERED NUMBER: 10017655 (England and Wales)





AUDITORS: Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

GROUP STRATEGIC REPORT
for the year ended 30 April 2024

The directors present their strategic report of the company and the group for the year ended 30 April 2024.

REVIEW OF BUSINESS
The principal activities of the group in the year under review were that of:

- Depot Services - shipping container storage, handling, modifications and repairs for third parties
- Sales and hire of shipping containers and similar-type structures together with the provision of additional services and enhancements
- Modular Buildings - sales, installation and commissioning of modular accommodation units for diverse applications
- Container conversions - advanced container modifications for complex applications requiring development of combined technology engineered systems
- Self Storage - (under brand name U Can Store It) ownership and operation of multiple self-storage sites primarily utilising shipping containers as storage units

Economic headwinds and further internal restructuring meant that our financial year ending April 2024 was more of a challenge than expected, reflected in suppressed profitability. What is hidden within that is the progress made on further key changes to the management structure of the business, together with several one-off costs to address legacy issues.

What has become evident is that the investment in a stronger management team has led to a better assessment of the Group's preparation for the future which has, in turn, led to further internal changes.

We continue to develop, support and strengthen our management team and overall employee cohort and remain true to our values as a people-focused, equal opportunities, multi-generation family run business.

PRINCIPAL RISKS AND UNCERTAINTIES
Broadly, we are monitoring corporate decision-making to do with continued Brexit consequences, potential UK budget fallout and geo-political decision-making.

At this stage the main consequences of the recent budget are uncertain.

Wider trade protectionism of the US and possible contagion of that and the potential for the Ukraine war to spread both have potential to be substantially disruptive.

FUTURE DEVELOPMENTS
As the above-mentioned changes bed in and more of the jigsaw puzzle is completed the Group's future development looks evermore exciting. Key posts have been filled, market positioning and marketing are more focused, and internal processes are being updated.

The Group recognises both the potential opportunities of an economic cycle upward swing, but also the potential impact of the fundamental changes caused by the recent budget with its varied impact on certain markets, together with uncertainty across the broader political panorama.

Going forwards we will continue to drive all areas of the business so that they can achieve their potential market growth and profitability, with particular emphasis on fabrication and modification capacity and rental businesses.


S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

GROUP STRATEGIC REPORT
for the year ended 30 April 2024

KEY PERFORMANCE INDICATORS

2024 2023

Sales % (decrease) / increase (3)% 4%

Gross profit margin 25% 26%

Net (loss) / profit before tax margin (1)% 5%

Return on capital employed (1)% 17%

EBITDA / Sales 2% 7%

ENVIRONMENTAL SOCIAL AND GOVERNANCE RESPONSIBILITIES
The Group is aware of it's Environmental, Social and Governance responsibilities and is actively working to implement sensible polices throughout the business.

ON BEHALF OF THE BOARD:





A E Jones - Director


28 January 2025

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

REPORT OF THE DIRECTORS
for the year ended 30 April 2024

The directors present their report with the financial statements of the company and the group for the year ended 30 April 2024.

PRINCIPAL ACTIVITIES
The principal activities of the group in the year under review were those of storage, repair, buying, selling, hiring and conversion of shipping containers.

DIVIDENDS
The total distribution of dividends for the year ended 30 April 2024 will be £ 215,816 .

DIRECTORS
The directors shown below have held office during the whole of the period from 1 May 2023 to the date of this report.

M E Jones
A E Jones
Mrs M E Jones

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Group Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and the group and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's and the group's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the group's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the group's auditors are aware of that information.

AUDITORS
The auditors, Luckmans Duckett Parker Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

ON BEHALF OF THE BOARD:





A E Jones - Director


28 January 2025

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
S JONES HOLDINGS LIMITED

Opinion
We have audited the financial statements of S Jones Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 April 2024 which comprise the Consolidated Income Statement, Consolidated Other Comprehensive Income, Consolidated Balance Sheet, Company Balance Sheet, Consolidated Statement of Changes in Equity, Company Statement of Changes in Equity, Consolidated Cash Flow Statement and Notes to the Consolidated Cash Flow Statement, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the group's and of the parent company affairs as at 30 April 2024 and of the group's loss for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Group Strategic Report and the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Group Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Group Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
S JONES HOLDINGS LIMITED


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
- the parent company financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
S JONES HOLDINGS LIMITED


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

In identifying and assessing the risk of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, our procedures included the following:

- reference to past history and experience of the Entity,
- enquiry of management, including obtaining and reviewing supporting documentation concerning
the Entity's procedures relating to:

- identifying and complying with laws and regulations and whether they were aware of any instances
of non-compliance;
- detection and response to risk of fraud and whether they were aware of any actual or suspected
instances of fraud.

- assessment of the controls and processes that the Entity has in place to mitigate risk

Our assessments included the identification of the following potential areas for fraud:
- Management override of control;
- Revenue recognition, particularly in respect of delivery of goods

We design audit procedures by tailored and directed testing to aid and support the level of determined level of risk. In response to the assessed risk we plan audit tests and procedures that target specific areas where misstatement may occur. These procedures and the extent to which they are capable of detecting
irregularities, including fraud, are detailed below:

- We critically assessed the appropriateness and tested the application of the revenue and cost
recognition policies
- We tested the appropriateness of accounting journals and other adjustments made in the
preparation of the financial statements
- We reviewed the Entity's accounting policies for non-compliance with relevant standards.
- We made enquiries of management and reviewed correspondence with the relevant authorities to
identify any irregularities or instances of non-compliance with laws and regulations

In performing an audit in accordance with UK GAAP, we exercise professional judgement and maintain
professional scepticism throughout the audit process.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from
error, as fraud may involve collusion or override of internal controls. There are inherent limitations in the audit procedures performed.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

REPORT OF THE INDEPENDENT AUDITORS TO THE MEMBERS OF
S JONES HOLDINGS LIMITED


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Mark Spafford FCCA ACA (Senior Statutory Auditor)
for and on behalf of Luckmans Duckett Parker Limited
Chartered Accountants
Statutory Auditors
1110 Elliott Court
Herald Avenue
Coventry Business Park
Coventry
West Midlands
CV5 6UB

28 January 2025

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

CONSOLIDATED
INCOME STATEMENT
for the year ended 30 April 2024

2024 2023
Notes £    £   

TURNOVER 3 13,673,481 14,160,823

Cost of sales 10,209,332 10,535,042
GROSS PROFIT 3,464,149 3,625,781

Administrative expenses 3,493,947 3,061,742
(29,798 ) 564,039

Other operating income - 103,554
OPERATING (LOSS)/PROFIT 5 (29,798 ) 667,593

Interest receivable and similar income 31,013 6,807
1,215 674,400

Interest payable and similar expenses 6 16,107 24,034
(LOSS)/PROFIT BEFORE TAXATION (14,892 ) 650,366

Tax on (loss)/profit 7 20,619 237,560
(LOSS)/PROFIT FOR THE FINANCIAL
YEAR

(35,511

)

412,806
(Loss)/profit attributable to:
Owners of the parent (35,511 ) 412,806

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

CONSOLIDATED
OTHER COMPREHENSIVE INCOME
for the year ended 30 April 2024

2024 2023
Notes £    £   

(LOSS)/PROFIT FOR THE YEAR (35,511 ) 412,806


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

(35,511

)

412,806

Total comprehensive income attributable to:
Owners of the parent (35,511 ) 412,806

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

CONSOLIDATED BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 93,361 98,510
Tangible assets 12 2,756,585 3,074,654
Investments 13 - -
Investment property 14 1 1
2,849,947 3,173,165

CURRENT ASSETS
Stocks 15 1,609,117 1,855,847
Debtors 16 2,104,692 1,870,445
Cash at bank and in hand 1,443,550 1,992,967
5,157,359 5,719,259
CREDITORS
Amounts falling due within one year 17 4,563,294 4,996,925
NET CURRENT ASSETS 594,065 722,334
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,444,012

3,895,499

CREDITORS
Amounts falling due after more than one
year

18

(326,283

)

(522,605

)

PROVISIONS FOR LIABILITIES 23 (611,004 ) (614,842 )
NET ASSETS 2,506,725 2,758,052

CAPITAL AND RESERVES
Called up share capital 24 50,000 50,000
Retained earnings 25 2,456,725 2,708,052
SHAREHOLDERS' FUNDS 2,506,725 2,758,052

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





A E Jones - Director


S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

COMPANY BALANCE SHEET
30 April 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 11 - -
Tangible assets 12 - -
Investments 13 50,000 50,000
Investment property 14 - -
50,000 50,000

CURRENT ASSETS
Debtors 16 191,000 310,000

CREDITORS
Amounts falling due within one year 17 191,000 310,000
NET CURRENT LIABILITIES - -
TOTAL ASSETS LESS CURRENT
LIABILITIES

50,000

50,000

CAPITAL AND RESERVES
Called up share capital 24 50,000 50,000
SHAREHOLDERS' FUNDS 50,000 50,000

Company's profit for the financial year 215,815 331,198

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 28 January 2025 and were signed on its behalf by:





A E Jones - Director


S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the year ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 50,000 2,626,442 2,676,442

Changes in equity
Total comprehensive income - 412,806 412,806
Dividends - (331,196 ) (331,196 )
Balance at 30 April 2023 50,000 2,708,052 2,758,052

Changes in equity
Total comprehensive income - (35,511 ) (35,511 )
Dividends - (215,816 ) (215,816 )
Balance at 30 April 2024 50,000 2,456,725 2,506,725

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

COMPANY STATEMENT OF CHANGES IN EQUITY
for the year ended 30 April 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 May 2022 50,000 - 50,000

Changes in equity
Total comprehensive income - 331,198 331,198
Dividends - (331,198 ) (331,198 )
Balance at 30 April 2023 50,000 - 50,000

Changes in equity
Total comprehensive income - 215,815 215,815
Dividends - (215,815 ) (215,815 )
Balance at 30 April 2024 50,000 - 50,000

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

CONSOLIDATED CASH FLOW STATEMENT
for the year ended 30 April 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 308,562 899,560
Interest paid (11,645 ) (19,572 )
Interest element of hire purchase
payments paid

(4,462

)

(4,462

)
Tax paid (50,048 ) -
Net cash from operating activities 242,407 875,526

Cash flows from investing activities
Purchase of tangible fixed assets (292,199 ) (937,180 )
Sale of tangible fixed assets 500 1,250
Interest received 31,013 6,807
Net cash from investing activities (260,686 ) (929,123 )

Cash flows from financing activities
Loan repayments in year (150,000 ) (150,000 )
Capital repayments in year (46,322 ) (46,322 )
Amount withdrawn by directors (119,000 ) -
Equity dividends paid (215,816 ) (221,196 )
Net cash from financing activities (531,138 ) (417,518 )

Decrease in cash and cash equivalents (549,417 ) (471,115 )
Cash and cash equivalents at
beginning of year

2

1,992,967

2,464,082

Cash and cash equivalents at end of
year

2

1,443,550

1,992,967

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED CASH FLOW STATEMENT
for the year ended 30 April 2024

1. RECONCILIATION OF (LOSS)/PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS
2024 2023
£    £   
(Loss)/profit before taxation (14,892 ) 650,366
Depreciation charges 351,891 314,952
Loss/(profit) on disposal of fixed assets 1,193 (65 )
Finance costs 16,107 24,034
Finance income (31,013 ) (6,807 )
323,286 982,480
Decrease in stocks 508,562 538,844
(Increase)/decrease in trade and other debtors (230,380 ) 827,678
Decrease in trade and other creditors (292,906 ) (1,449,442 )
Cash generated from operations 308,562 899,560

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Cash Flow Statement in respect of cash and cash equivalents are in respect of these Balance Sheet amounts:

Year ended 30 April 2024
30.4.24 1.5.23
£    £   
Cash and cash equivalents 1,443,550 1,992,967
Year ended 30 April 2023
30.4.23 1.5.22
£    £   
Cash and cash equivalents 1,992,967 2,464,082


3. ANALYSIS OF CHANGES IN NET FUNDS

Other
non-cash
At 1.5.23 Cash flow changes At 30.4.24
£    £    £    £   
Net cash
Cash at bank
and in hand 1,992,967 (549,417 ) 1,443,550
1,992,967 (549,417 ) 1,443,550
Debt
Finance leases (181,427 ) 46,322 - (135,105 )
Debts falling due
within 1 year (150,000 ) 150,000 (150,000 ) (150,000 )
Debts falling due
after 1 year (387,500 ) - 150,000 (237,500 )
(718,927 ) 196,322 - (522,605 )
Total 1,274,040 (353,095 ) - 920,945

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS
for the year ended 30 April 2024

1. STATUTORY INFORMATION

S Jones Holdings 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 General Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In the application of the group's accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the periods in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

The directors consider no estimates or assumptions have a significant risk of causing a material adjustment to the carrying amount of assets and liabilities.

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
Purchased goodwill represents the excess fair value of the consideration given over the fair value of the identifiable net assets acquired. Purchased goodwill is capitalised and amortised on a straight line basis over 20 years.

Patents and licences
Depreciation is provided to write off the asset over its useful economic life at the rate of 10% straight line.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Short leasehold - 10% on cost
Improvements to property - 10% on cost
Plant and machinery - 10% on cost
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on reducing balance
Containers - 10% on cost and 5% on cost

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

2. ACCOUNTING POLICIES - continued

Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grant will be received.

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

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
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
The group 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 group's balance sheet when the group 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 debtors 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. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of future receipts discounted at a market rate on interest. Financial liabilities classified as payable within one year are not amortised.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Consolidated 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.


S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 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 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.

Research and development
Expenditure on research and development is written off in the year in which it is incurred.


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.

Pension costs and other post-retirement benefits
The group operates a defined contribution pension scheme. Contributions payable to the group's pension scheme are charges to the profit and loss account on a straight line basis over the period of the lease.

Operating lease commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease in accordance with section 20.15 FRS102.

Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liability and the interest is charged to the profit and loss account using the effective interest method in accordance with Section 20 FRS102.

3. TURNOVER

The turnover and loss (2023 - profit) before taxation are attributable to the principal activities of the group.

An analysis of turnover by class of business is given below:

2024 2023
£    £   
Sales 11,229,334 11,641,234
Hire 1,392,402 1,551,233
Storage 1,051,745 968,356
13,673,481 14,160,823

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

3. TURNOVER - continued

An analysis of turnover by geographical market is given below:

2024 2023
£    £   
United Kingdom 13,673,481 14,140,791
Europe - 17,182
Rest of the world - 2,850
13,673,481 14,160,823

4. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 1,768,294 1,625,947
Social security costs 183,538 172,379
Other pension costs 209,102 182,433
2,160,934 1,980,759

The average number of employees during the year was as follows:
2024 2023

Operations 13 14
Commercial 21 21
Administration 15 11
49 46

The average number of employees by undertakings that were proportionately consolidated during the year was NIL (2023 - NIL).

2024 2023
£    £   
Directors' remuneration 22,039 24,403
Directors' pension contributions to money purchase schemes 23,333 12,107

The number of directors to whom retirement benefits were accruing was as follows:

Money purchase schemes 1 1

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

5. OPERATING (LOSS)/PROFIT

The operating loss (2023 - operating profit) is stated after charging/(crediting):

2024 2023
£    £   
Depreciation - owned assets 305,328 266,936
Depreciation - assets on hire purchase contracts 41,414 41,414
Loss/(profit) on disposal of fixed assets 1,193 (65 )
Goodwill amortisation 5,124 5,126
Patents and licences amortisation 25 1,476
Auditors' remuneration 24,500 25,250
Foreign exchange differences - (84,873 )

6. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 11,645 19,572
Hire purchase 4,462 4,462
16,107 24,034

7. TAXATION

Analysis of the tax charge
The tax charge on the loss for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 10,670 32,395
Prior year tax adjustment 13,786 -
Total current tax 24,456 32,395

Deferred tax (3,837 ) 205,165
Tax on (loss)/profit 20,619 237,560

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

7. TAXATION - continued

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
(Loss)/profit before tax (14,892 ) 650,366
(Loss)/profit multiplied by the standard rate of corporation tax in the
UK of 25 % (2023 - 19 %)

(3,723

)

123,570

Effects of:
Expenses not deductible for tax purposes - (1,631 )
Depreciation in excess of capital allowances 8,285 -
Adjustments to tax charge in respect of previous periods 13,786 -
Super deduction capital allowances - (8,064 )
Research and development enhanced deduction - (26,418 )
Deferred tax prior year adjustment 825 -
Depreciation on Non-Qualifying assets 2,021 -
Change in rate of taxation - 150,103
Marginal rate relief (575 ) -
Total tax charge 20,619 237,560

8. INDIVIDUAL INCOME STATEMENT

As permitted by Section 408 of the Companies Act 2006, the Income Statement of the parent company is not presented as part of these financial statements.


9. DIVIDENDS
2024 2023
£    £   
Ordinary shares of £1 each
Interim 959 1,914
A Ordinary shares of £1 each
Interim 42,542 41,351
B Ordinary shares of £1 each
Interim 84,969 193,696
C Ordinary shares of £1 each
Interim 21,728 20,556
D Ordinary shares of £1 each
Interim 10,118 10,036
E Ordinary shares of £1 each
Interim 55,500 63,643
215,816 331,196

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

10. CHANGE OF ACCOUNTING POLICY

The group has reclassified some of its 2023 administrative expenses to cost of sales, as it was considered that this would be a fairer presentation within the accounts.

The effects on the financial statements for the year ended 30 April 2023 are as follows:

2023 2023
as as
previously filed Adjustment restated
£ £ £

Cost of sales 10,107,073 427,969 10,535,042

GROSS PROFIT 4,053,750 (427,969 ) 3,625,781

Administrative expenses 3,489,709 (427,969 ) 3,061,740

The financial statements for the year ended 30 April 2024 have been prepared on the same basis.

11. INTANGIBLE FIXED ASSETS

Group
Patents
and
Goodwill licences Totals
£    £    £   
COST
At 1 May 2023
and 30 April 2024 129,995 31,240 161,235
AMORTISATION
At 1 May 2023 33,475 29,250 62,725
Amortisation for year 5,124 25 5,149
At 30 April 2024 38,599 29,275 67,874
NET BOOK VALUE
At 30 April 2024 91,396 1,965 93,361
At 30 April 2023 96,520 1,990 98,510

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

12. TANGIBLE FIXED ASSETS

Group
Improvements
Short to Plant and
leasehold property machinery
£    £    £   
COST
At 1 May 2023 180,531 578,191 808,783
Additions - 37,238 1,399
Disposals - - -
Reclassification/transfer - - -
At 30 April 2024 180,531 615,429 810,182
DEPRECIATION
At 1 May 2023 42,121 246,310 387,263
Charge for year 15,160 45,163 87,414
Eliminated on disposal - - -
Reclassification/transfer - - -
At 30 April 2024 57,281 291,473 474,677
NET BOOK VALUE
At 30 April 2024 123,250 323,956 335,505
At 30 April 2023 138,410 331,881 421,520

Fixtures
and Motor
fittings vehicles Containers Totals
£    £    £    £   
COST
At 1 May 2023 391,383 51,983 2,895,858 4,906,729
Additions 64,159 - 189,403 292,199
Disposals - (16,333 ) - (16,333 )
Reclassification/transfer - - (286,226 ) (286,226 )
At 30 April 2024 455,542 35,650 2,799,035 4,896,369
DEPRECIATION
At 1 May 2023 356,941 20,517 778,923 1,832,075
Charge for year 29,607 7,536 161,862 346,742
Eliminated on disposal - (14,640 ) - (14,640 )
Reclassification/transfer - - (24,393 ) (24,393 )
At 30 April 2024 386,548 13,413 916,392 2,139,784
NET BOOK VALUE
At 30 April 2024 68,994 22,237 1,882,643 2,756,585
At 30 April 2023 34,442 31,466 2,116,935 3,074,654

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

12. TANGIBLE FIXED ASSETS - continued

Group

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Plant and
machinery
£   
COST
At 1 May 2023
and 30 April 2024 257,343
DEPRECIATION
At 1 May 2023 49,076
Charge for year 41,414
At 30 April 2024 90,490
NET BOOK VALUE
At 30 April 2024 166,853
At 30 April 2023 208,267

13. FIXED ASSET INVESTMENTS

Company
Shares in
group
undertakings
£   
COST
At 1 May 2023
and 30 April 2024 50,000
NET BOOK VALUE
At 30 April 2024 50,000
At 30 April 2023 50,000

The group or the company's investments at the Balance Sheet date in the share capital of companies include the following:

Subsidiary

S Jones Containers Limited
Registered office: Anglian Road, Aldridge, Walsall, West Midlands, WS9 8ET
Nature of business: Storage containers
%
Class of shares: holding
Ordinary 100.00


S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

14. INVESTMENT PROPERTY

Group
Total
£   
FAIR VALUE
At 1 May 2023
and 30 April 2024 1
NET BOOK VALUE
At 30 April 2024 1
At 30 April 2023 1

15. STOCKS

Group
2024 2023
£    £   
Stocks 1,609,117 1,855,847

16. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Trade debtors 1,777,494 1,600,702 - -
Amounts owed by group undertakings - - 191,000 310,000
Other debtors 81,669 100 - -
Tax 3,867 - - -
Prepayments 241,662 269,643 - -
2,104,692 1,870,445 191,000 310,000

17. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

Group Company
2024 2023 2024 2023
£    £    £    £   
Bank loans and overdrafts (see note 19) 150,000 150,000 - -
Hire purchase contracts (see note 20) 46,322 46,322 - -
Trade creditors 2,110,860 1,954,149 - -
Tax 10,670 32,395 - -
Social security and other taxes 300,300 265,805 - -
Other creditors 38,233 48,047 - -
Directors' current accounts 191,000 310,000 191,000 310,000
Accruals and deferred income 1,715,909 2,190,207 - -
4,563,294 4,996,925 191,000 310,000

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

18. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

Group
2024 2023
£    £   
Bank loans (see note 19) 237,500 387,500
Hire purchase contracts (see note 20) 88,783 135,105
326,283 522,605

19. LOANS

An analysis of the maturity of loans is given below:

Group
2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 150,000 150,000
Amounts falling due between one and two years:
Bank loans - 1-2 years 150,000 150,000
Amounts falling due between two and five years:
Bank loans - 2-5 years 87,500 237,500

A bank loan of £750,000 is being repaid over a period of 5 years. As at 30 April 2024 £387,500 (31 months) (2023 - £537,500 (43 months)) remains outstanding. Interest is charged at 2.62% per annum over base rate.

20. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Group
Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 46,322 46,322
Between one and five years 88,783 135,105
135,105 181,427

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

20. LEASING AGREEMENTS - continued

Group
Non-cancellable operating leases
2024 2023
£    £   
Within one year 515,600 520,400
Between one and five years 1,168,650 1,633,650
In more than five years 451,183 501,783
2,135,433 2,655,833

21. SECURED DEBTS

The following secured debts are included within creditors:

Group
2024 2023
£    £   
Bank loans 387,500 537,500
Hire purchase contracts 135,105 181,427
522,605 718,927

The bank loan is secured by an all assets debenture and a 1st legal charge over the company's investment property.

Hire purchase contracts are secured on the assets to which they relate.

22. FINANCIAL INSTRUMENTS

The company purchases forward foreign currency contracts to hedge currency exposure on firm future commitments. The fair values of the assets and liabilities held at fair value through profit and loss at the balance sheet date are determined using quoted prices.

As at 30 April 2024 the company had contracts in place to buy $800,000 at £632,038 (2023 - $450,000 at £372,505).

23. PROVISIONS FOR LIABILITIES

Group
2024 2023
£    £   
Deferred tax
Accelerated capital allowances 615,052 614,842
Other timing differences (4,048 ) -
611,004 614,842

S JONES HOLDINGS LIMITED (REGISTERED NUMBER: 10017655)

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS - continued
for the year ended 30 April 2024

23. PROVISIONS FOR LIABILITIES - continued

Group
Deferred
tax
£   
Balance at 1 May 2023 614,842
Credit to Income Statement during year (3,838 )
Balance at 30 April 2024 611,004

24. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
15,500 Ordinary £1 15,500 15,500
5,000 A Ordinary £1 5,000 5,000
17,000 B Ordinary £1 17,000 17,000
3,750 C Ordinary £1 3,750 3,750
3,750 D Ordinary £1 3,750 3,750
5,000 E Ordinary £1 5,000 5,000
50,000 50,000

25. RESERVES

Group
Retained
earnings
£   

At 1 May 2023 2,708,052
Deficit for the year (35,511 )
Dividends (215,816 )
At 30 April 2024 2,456,725


26. PENSION COMMITMENTS

The group operates a defined contribution pension scheme for all qualifying employees. The assets of the scheme are held separately from those of the group in an independently administered fund.

The pension liability as at 30 April 2024 is £13,499 (2023 - £8,336).

27. RELATED PARTY DISCLOSURES

As at 30 April 2024 £191,000 (2023 - £310,000) was owed to the directors.

For the year ended 30 April 2023 key management personnel were considered to be the directors of the company only. Directors remuneration is disclosed in note 4.

28. ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.