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REGISTERED NUMBER: 00239324 (England and Wales)















JONES AND PALMER LIMITED

Unaudited Financial Statements for the Year Ended 30 September 2024






JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JONES AND PALMER LIMITED

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Ms H L Hill
J A Houston
I A Houston
S F O'Brien
J Robinson
S Tolley





REGISTERED OFFICE: 87 Carver Street
Birmingham
B1 3AL





REGISTERED NUMBER: 00239324 (England and Wales)





ACCOUNTANTS: Michael Dufty Partnership Limited
59-61 Charlotte Street
St Pauls Square
Birmingham
West Midlands
B3 1PX

JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £   
FIXED ASSETS
Tangible assets 4 2,418,754 2,487,503
Investments 5 500 500
2,419,254 2,488,003

CURRENT ASSETS
Stocks 2,836 3,405
Debtors 6 1,010,989 1,141,011
Cash at bank 1,158,754 581,060
2,172,579 1,725,476
CREDITORS
Amounts falling due within one year 7 1,378,869 1,204,492
NET CURRENT ASSETS 793,710 520,984
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,212,964

3,008,987

CREDITORS
Amounts falling due after more than one
year

8

(458,154

)

(640,314

)

PROVISIONS FOR LIABILITIES (69,614 ) (85,436 )
NET ASSETS 2,685,196 2,283,237

CAPITAL AND RESERVES
Called up share capital 39,204 39,204
Retained earnings 2,645,992 2,244,033
2,685,196 2,283,237

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

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

JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Balance Sheet - continued
30 September 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 6 May 2025 and were signed on its behalf by:





J A Houston - Director


JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Jones And Palmer 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.

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 or, if held under a finance lease, over the lease term, whichever is the shorter.
Improvements to property - 10% on cost
Plant and machinery - 14% on cost
Fixtures and fittings - 7.5% on cost
Computer equipment - 20% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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.

JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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 55 (2023 - 56 ) .

4. TANGIBLE FIXED ASSETS
Improvements
Freehold to Plant and
property property machinery
£    £    £   
COST
At 1 October 2023 2,063,652 134,747 562,767
Additions - 3,130 -
Disposals - - (271,692 )
At 30 September 2024 2,063,652 137,877 291,075
DEPRECIATION
At 1 October 2023 - 52,639 424,663
Charge for year - 8,593 35,456
Eliminated on disposal - - (271,692 )
At 30 September 2024 - 61,232 188,427
NET BOOK VALUE
At 30 September 2024 2,063,652 76,645 102,648
At 30 September 2023 2,063,652 82,108 138,104

JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. TANGIBLE FIXED ASSETS - continued

Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 October 2023 127,637 498,784 3,387,587
Additions 2,579 17,964 23,673
Disposals (31,988 ) (304,222 ) (607,902 )
At 30 September 2024 98,228 212,526 2,803,358
DEPRECIATION
At 1 October 2023 51,588 371,194 900,084
Charge for year 7,130 41,243 92,422
Eliminated on disposal (31,988 ) (304,222 ) (607,902 )
At 30 September 2024 26,730 108,215 384,604
NET BOOK VALUE
At 30 September 2024 71,498 104,311 2,418,754
At 30 September 2023 76,049 127,590 2,487,503

The net book value of tangible fixed assets includes £ 102,309 (2023 - £ 128,160 ) in respect of assets held under hire purchase contracts.

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 October 2023
and 30 September 2024 500
NET BOOK VALUE
At 30 September 2024 500
At 30 September 2023 500

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 865,620 991,076
Amounts owed by group undertakings 4,030 4,030
Other debtors 100 1,300
Prepayments 141,239 144,605
1,010,989 1,141,011

JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 111,922 113,096
Hire purchase contracts 36,391 38,465
Trade creditors 190,216 169,973
Amounts owed to group undertakings 65,158 61,347
Social security and other taxes 490,794 366,647
Other creditors - 1,800
Accruals and deferred income 484,388 453,164
1,378,869 1,204,492

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 98,698 135,209
Bank loans - 2-5 years 97,079 182,278
Bank loans more 5 yr by instal 249,366 273,425
Hire purchase contracts 13,011 49,402
458,154 640,314

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 249,366 273,425

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 557,065 704,008
Hire purchase contracts 49,402 87,867
606,467 791,875

Lloyds TSB mortgage is secured by a fixed and floating charge over all current and future assets of the company, up to the balance due at the time.

Lloyds TSB Commercial Finance have security over the factoring balance debt in the form of a fixed and floating charge over all the current and future assets of the company.

Birmingham City Council has a charge secured against the new building for a European Regional Development Grant. The charge is to the value of the grant income received and is only enforceable if the building is sold within 15 years. Amounts received so far are £478,069.

The hire purchase liability is secured against the assets to which it relates.

The invoice finance facility is secured against the trade debtor book of the company.

JONES AND PALMER LIMITED (REGISTERED NUMBER: 00239324)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

10. RELATED PARTY DISCLOSURES

The amounts owed to the company by P C Properties Ltd at the year end amounted to £3,030 (2023 - £136,030).

The amounts owed to Jones and Palmer Technology Ltd as at the year end amounted to £400 (2023 - £400).