REGISTERED NUMBER: |
JOHNS JONES & LO LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29TH MAY 2024 |
REGISTERED NUMBER: |
JOHNS JONES & LO LIMITED |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29TH MAY 2024 |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29TH MAY 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
JOHNS JONES & LO LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 29TH MAY 2024 |
DIRECTOR: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
BALANCE SHEET |
29TH MAY 2024 |
2024 | 2023 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
Tangible assets | 5 |
CURRENT ASSETS |
Work in progress |
Debtors | 6 |
Prepayments and accrued income |
Cash at bank and in hand |
CREDITORS |
Amounts falling due within one year | 7 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
8 |
NET ASSETS/(LIABILITIES) | ( |
) |
CAPITAL AND RESERVES |
Called up share capital |
Revaluation reserve | 9 |
Retained earnings | ( |
) | ( |
) |
SHAREHOLDERS' FUNDS | ( |
) |
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. |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
BALANCE SHEET - continued |
29TH MAY 2024 |
The financial statements were approved by the director and authorised for issue on |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 29TH MAY 2024 |
1. | STATUTORY INFORMATION |
Johns Jones & Lo Limited is a |
The presentation currency of the financial statements is the Pound Sterling (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 the business is being amortised evenly over it's estimated useful life of 10 years. |
Intangible assets |
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses. |
Tangible fixed assets |
Fixtures and Fittings 25% Straight Line Method |
Motor vehicles 20% Reducing Balance Method |
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 work in progress to their present location and condition. |
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. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29TH MAY 2024 |
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST OR VALUATION |
At 30th May 2023 |
Revaluations |
At 29th May 2024 |
AMORTISATION |
At 30th May 2023 |
Charge for year |
At 29th May 2024 |
NET BOOK VALUE |
At 29th May 2024 |
At 29th May 2023 |
Cost or valuation at 29th May 2024 is represented by: |
Goodwill |
£ |
Valuation in 2017 | 551,882 |
Valuation in 2019 | (221,882 | ) |
Valuation in 2020 | 35,512 |
Valuation in 2021 | 69,436 |
Valuation in 2022 | 130,346 |
Valuation in 2023 | (13,280 | ) |
Valuation in 2024 | 50,000 |
602,014 |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29TH MAY 2024 |
5. | TANGIBLE FIXED ASSETS |
Fixtures |
and | Motor |
fittings | vehicles | Totals |
£ | £ | £ |
COST |
At 30th May 2023 |
Additions |
Disposals | ( |
) | ( |
) |
At 29th May 2024 |
DEPRECIATION |
At 30th May 2023 |
Charge for year |
Eliminated on disposal | ( |
) | ( |
) |
At 29th May 2024 |
NET BOOK VALUE |
At 29th May 2024 |
At 29th May 2023 |
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Trade debtors |
Other debtors |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Taxation and social security |
Other creditors |
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2024 | 2023 |
£ | £ |
Bank loans |
JOHNS JONES & LO LIMITED (REGISTERED NUMBER: 04102349) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 29TH MAY 2024 |
9. | RESERVES |
Revaluation |
reserve |
£ |
Goodwill Revaluation | 50,000 |
At 29th May 2024 |
10. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
The following advances and credits to a director subsisted during the year ended 29th May 2024 and the period ended 29th May 2023: |
2024 | 2023 |
£ | £ |
Balance outstanding at start of year |
Amounts advanced |
Amounts repaid | ( |
) |
Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
Included in other creditors is an amount of £128,205 (2023 £132,245) in respect of a loan made to the company by Longworth Credit Services Limited. |
D. Lo is a director of this company. |
Interest has been charged in relation to this loan in these financial statements. |
11. | ULTIMATE CONTROLLING PARTY |
The controlling party is D Lo. |