T. Lloyd Jones Forge (Holdings) Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 03332765 (England and Wales)

T. LLOYD JONES FORGE (HOLDINGS) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28TH SEPTEMBER 2024

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

J A Jones

B K Jones

SECRETARY:

J A Jones

REGISTERED OFFICE:

Forge Garage

Ffosyffin

Aberaeron

Ceredigion

SA46 0HA

REGISTERED NUMBER:

03332765 (England and Wales)

ACCOUNTANTS:

Johns Jones & Lo Limited

Chartered Accountants & Registered Auditors

16 Lambourne Crescent

Cardiff Business Park

Llanishen

Cardiff

CF14 5GF

FIXED ASSETS

Tangible assets

4

637,322

646,427

Investments

5

200

637,522

646,627

CURRENT ASSETS

Debtors

6

8,990

Cash at bank

179,180

181,015

188,170

190,005

CREDITORS

Amounts falling due within one year

7

748,541

753,776

NET CURRENT LIABILITIES

(560,371

)

(563,771

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

77,151

82,856

CREDITORS

Amounts falling due after more than one
year

8

(9,248

)

(19,068

)

PROVISIONS FOR LIABILITIES

10

(5,052

)

(5,508

)

NET ASSETS

62,851

58,280

CAPITAL AND RESERVES

Called up share capital

11

200

Retained earnings

62,651

58,080

SHAREHOLDERS' FUNDS

62,851

58,280

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4th April 2025 and were signed on its behalf by:

J A Jones - Director

1.	STATUTORY INFORMATION

T. Lloyd Jones Forge (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 Company 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" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements, estimates and assumptions that affect the amounts reported for assets and liabilities as at the statement of financial position date and the amounts reported for revenues and expenses during the period. However the nature of estimation means that actual outcomes could differ from those estimates.

Recoverability of debtors

Estimation is involved in the assessment of the recoverability of debtors and the calculation of the associated bad debt provision. Factors such as the age of debt, prior experience and recoverability statistics are included in management's assessment.

Useful economic lives of tangible fixed assets

Tangible fixed assets are depreciated over their useful economic lives taking into account residual values, where appropriate. Management regularly reviews the asset's useful lives. Changes in the assets' useful economic lives can have a significant impact on depreciation for the period. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Provision for impairments

Tangible fixed assets are reviewed for signs of impairment each year and written down accordingly. All tangible fixed assets are reviewed by management in conjunction with market data and other relevant information. Changes in any of the factors considered for impairments can affect the value reported in the financial statements.

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.

Fixtures and Fittings 15% Straight Line

Land and Buildings No depreciation is provided on Land and Buildings

Debtors

Debtors include trade debtors and certain other financial instruments.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Financial instruments

The company enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors and loans from bank's. Debt instruments (other than those wholly repayable or receivable within one year), including loans and account receivables and payables, are initially measured at the transaction price (adjusted for transaction cost) and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors are measured initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However if the arrangement constitutes a financing transaction, such as a trade debtor or creditor on extended credit terms, initial measurement is at the present value of future cash flows discounted at a market rate of interest. Subsequent measurement is at amortised cost.

Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If such evidence is identified, an impairment loss is recognised in the statement of comprehensive income. For financial assets measured at amortised cost, the impairment loss is measured as the difference between carrying amount and the present value of estimated cash flows discounted at the original affective interest rate. If the financial instrument has a variable interest rate the currently affective rate under the contract is used.

A financial asset is derecognised only when the contractual rights to the cash flows from the financial asset expire or are settled or substantially all the risks and rewards of ownership of the financial asset have been transferred to another party or when despite having retained some but not substantially all, risks and rewards of ownership, control of the asset has been transferred to another party and the other party has the practical ability to sell the asset in its entirety to an unrelated third party and is able to exercise that ability unilaterally and without needing to impose additional restrictions on the transfer. In this case the company derecognises the asset and recognises separately any rights and obligations retained or created in the transfer. A inimical liability is derecognised when the contract that gives rise to it is settled, sold, cancelled, or expires. Where an existing financial liability is replaced by another from the same lender on substantially different terms, or the terms of an existing liability are substantially modified such as an exchange or modification, this is treated as a derecognition of the original liability, such that the difference in the respective carrying amounts together with any costs or fees incurred are recognised in profit or loss.

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.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Going concern

These financial statements have been prepared on a going concern basis on the grounds that the Directors consider that the Company has sufficient cash resources to enable the company to continue to meet its liabilities as they fall due.

Cash and cash equivalents

Cash and cash equivalents include cash in hand and deposits held at call with banks.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

COST

At 29th September 2023

617,437

86,377

703,814

Additions

-

2,620

Disposals

(5,000

)

-

(5,000

)

At 28th September 2024

612,437

88,997

701,434

DEPRECIATION

At 29th September 2023

-

57,387

Charge for year

-

6,725

At 28th September 2024

-

64,112

NET BOOK VALUE

At 28th September 2024

612,437

24,885

637,322

At 28th September 2023

617,437

28,990

646,427

5.	FIXED ASSET INVESTMENTS

Details of Undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertakings
Subsidiary Undertakings

Registered Office

Holding

Proportion of Voting
Rights and shares Held

T. Lloyd Jones Forge
Aberaeron Limited

Ffosyffin, Aberaeron,
Ceredigion, SA46 OHA

Ordinary

2024: 100% 2023: 100%

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

8,990

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

10,648

Trade creditors

200

36

Taxation and social security

2,008

8,011

Other creditors

735,685

735,081

748,541

753,776

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2024

2023

£

Bank loans

9,248

19,068

9.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

Bank loans

19,896

29,716

The bank loans are secured by debenture against the assets of the company.

10.	PROVISIONS FOR LIABILITIES

2024

2023

£

Deferred tax

5,052

5,508

Deferred

tax

£

Balance at 29th September 2023

5,508

Credit to Income Statement during year

(456

)

Balance at 28th September 2024

5,052

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2024

2023

value:

£

200

Ordinary

£1

200

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 28th September 2024 and 28th September 2023:

2024

2023

£

B K Jones

Balance outstanding at start of year

-

5,000

Amounts repaid

-

(5,000

)

Amounts written off

-

Amounts waived

-

Balance outstanding at end of year

-

13.	RELATED PARTY DISCLOSURES

Included in other creditors is a balance of £715,085 (2023 £714,481) due to T.Lloyd Jones Forge Aberaeron Limited. There is no interest being charged on this loan and the full amount is repayable upon demand.

During the year, £7,500 of rental income was received from T.Lloyd Jones Forge Aberaeron.

T.Lloyd Jones Forge Aberaeron is a 100% owned subsidiary of T.Lloyd Jones Forge (Holdings) Limited.

Included within other creditors is £19,000 loaned to the company by the family of the directors. Again, no interest is being charged on this loan and the full amount is repayable upon demand.

14.	ULTIMATE CONTROLLING PARTY

The controlling party is the directors.