Company registration number 00636005 (England and Wales)
H.K.JONES(WAYNHAMS)LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
PAGES FOR FILING WITH REGISTRAR
H.K.JONES(WAYNHAMS)LIMITED
COMPANY INFORMATION
Directors
Mr A C K Symonds
Mrs R Symonds
Mr R W Symonds
Secretary
Mrs R Symonds
Company number
00636005
Registered office
Lincomb Farm
Stouport On Severn
Worcestershire
DY13 9RB
Accountants
Ormerod Rutter Limited
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
Bankers
Natwest Bank Plc
11 Western Boulevard
Bede Island
Leicester
LE2 7EJ
H.K.JONES(WAYNHAMS)LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 8
H.K.JONES(WAYNHAMS)LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF H.K.JONES(WAYNHAMS)LIMITED FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of H.K.Jones(Waynhams)Limited for the year ended 30 September 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of H.K.Jones(Waynhams)Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of H.K.Jones(Waynhams)Limited and state those matters that we have agreed to state to the board of directors of H.K.Jones(Waynhams)Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than H.K.Jones(Waynhams)Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that H.K.Jones(Waynhams)Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of H.K.Jones(Waynhams)Limited. You consider that H.K.Jones(Waynhams)Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of H.K.Jones(Waynhams)Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Ormerod Rutter Limited
2 April 2025
Chartered Accountants
The Oakley
Kidderminster Road
Droitwich
Worcestershire
WR9 9AY
H.K.JONES(WAYNHAMS)LIMITED
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
30 September 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
768,794
752,478
Current assets
Stocks
368
1,813
Debtors
4
2,394
5,651
Cash at bank and in hand
24,920
23,670
27,682
31,134
Creditors: amounts falling due within one year
5
(30,273)
(33,798)
Net current liabilities
(2,591)
(2,664)
Total assets less current liabilities
766,203
749,814
Creditors: amounts falling due after more than one year
6
(276,242)
(276,384)
Net assets
489,961
473,430
Capital and reserves
Called up share capital
8
100
100
Profit and loss reserves
489,861
473,330
Total equity
489,961
473,430
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 30 September 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
H.K.JONES(WAYNHAMS)LIMITED
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024
30 September 2024
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 2 April 2025 and are signed on its behalf by:
Mr A C K Symonds
Director
Company registration number 00636005 (England and Wales)
H.K.JONES(WAYNHAMS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 4 -
1
Accounting policies
Company information
H.K.Jones(Waynhams)Limited is a private company limited by shares incorporated in England and Wales. The registered office is Lincomb Farm, Stouport On Severn, Worcestershire, DY13 9RB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business.
Revenue from the provision of services is recognised by reference to the stage of completion, when the costs incurred and costs to complete can be estimated reliably.
1.3
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Freehold land and buildings
2% on cost
Improvements to property
2% on cost
Plant and equipment
25% on reducing balance
Fixtures and fittings
25% on reducing balance
Motor vehicles
25% on reducing balance
Equestrain
10% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
H.K.JONES(WAYNHAMS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1
Accounting policies
(Continued)
- 5 -
1.5
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
1.6
Employee benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
1.7
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
3
3
H.K.JONES(WAYNHAMS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 6 -
3
Tangible fixed assets
Freehold land and buildings
Improvements to property
Plant and equipment
Fixtures and fittings
Motor vehicles
Equestrain
Total
£
£
£
£
£
£
£
Cost
At 1 October 2023
678,735
47,009
238,363
33,676
67,296
254,479
1,319,558
Additions
39,783
32,028
71,811
Disposals
(9,533)
(9,533)
At 30 September 2024
678,735
47,009
268,613
33,676
67,296
286,507
1,381,836
Depreciation and impairment
At 1 October 2023
95,198
6,174
190,560
15,734
46,004
213,410
567,080
Depreciation charged in the year
5,084
942
21,150
4,487
5,323
15,493
52,479
Eliminated in respect of disposals
(6,517)
(6,517)
At 30 September 2024
100,282
7,116
205,193
20,221
51,327
228,903
613,042
Carrying amount
At 30 September 2024
578,453
39,893
63,420
13,455
15,969
57,604
768,794
At 30 September 2023
583,537
40,835
47,803
17,942
21,292
41,069
752,478
H.K.JONES(WAYNHAMS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 7 -
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
433
3,767
Other debtors
1,961
1,884
2,394
5,651
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
18,638
18,498
Trade creditors
1,020
Taxation and social security
5,302
5,873
Other creditors
6,333
8,407
30,273
33,798
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans and overdrafts
133,960
176,444
Other creditors
142,282
99,940
276,242
276,384
7
Secured debts
The following secured debts are included within creditors:
2024
2023
£
£
Hire purchase contracts
5,117
6,960
Bank loans
152,598
194,942
157,715
201,902
Hire purchase contracts are secured against the assets to which they relate.
Bank loans are secured by way of a fixed and floating charge over all assets of the company.
H.K.JONES(WAYNHAMS)LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2024
- 8 -
8
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary of £1 each
100
100
100
100
9
Ultimate controlling party
The ultimate controlling party is Mr A C K Symonds.