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REGISTERED NUMBER: 03824388 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 NOVEMBER 2024

FOR

PETER JONES ENGINEERING LIMITED

PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024




Page

Statement of Financial Position 1

Notes to the Financial Statements 3


PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 556,538 654,468
556,538 654,468

CURRENT ASSETS
Stocks 27,422 37,845
Debtors 7 278,284 539,254
Cash at bank and in hand 545,272 395,573
850,978 972,672
CREDITORS
Amounts falling due within one year 8 385,172 374,274
NET CURRENT ASSETS 465,806 598,398
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,022,344

1,252,866

CREDITORS
Amounts falling due after more than one
year

9

(71,788

)

(174,935

)

PROVISIONS FOR LIABILITIES (138,336 ) (162,719 )
NET ASSETS 812,220 915,212

CAPITAL AND RESERVES
Called up share capital 140 140
Retained earnings 812,080 915,072
SHAREHOLDERS' FUNDS 812,220 915,212

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

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

PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 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 19 June 2025 and were signed on its behalf by:




Sharon Penelope Jones - Director



Paul Robert Jones - Director


PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1. STATUTORY INFORMATION

Peter Jones Engineering Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 03824388

Registered office: c/o Peter Jones Engineering Limited
Imberhorne Lane
East Grinstead
West Sussex
RH19 1RG

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


All amounts in the financial statements have been rounded to the nearest £.

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
In preparing these financial statements, the members have made the following judgements:

- Determine whether leases entered into by the entity either as a lessor or a lessee are operating or lease or finance leases. These decisions depend on an assessment of whether the risks and rewards of ownership have been transferred from the lessor to the lessee on a lease by lease basis.
- Determine whether there are indicators of impairment of the entity's tangible assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Other key sources of estimation uncertainty

Tangible fixed assets

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Turnover
Turnover represents revenue recognised in the accounts. Revenue is recognised when the company fulfils its contractual obligations to customers by supplying goods and services and excludes value added tax.

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.

PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

3. ACCOUNTING POLICIES - continued

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.
Land and buildings - 4% on cost
Plant and machinery etc - 33.33% on cost, 25% on reducing balance, 15% on reducing balance and 10% on reducing balance

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
Basic financial instruments are recognised at amortised cost. Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

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.

Holiday pay accrual
A liability is recognised to the extent of any unused holiday pay entitlement which has accrued at the balance sheet date and carried forward to future periods. This is measured at the undiscounted salary costs of the future holiday entitlement so accrued at the balance sheet date.

PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 19 ) .

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 December 2023
and 30 November 2024 239,436
AMORTISATION
At 1 December 2023
and 30 November 2024 239,436
NET BOOK VALUE
At 30 November 2024 -
At 30 November 2023 -

6. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 December 2023 7,545 2,127,166 2,134,711
Additions - 3,198 3,198
Disposals - (3,243 ) (3,243 )
At 30 November 2024 7,545 2,127,121 2,134,666
DEPRECIATION
At 1 December 2023 4,829 1,475,414 1,480,243
Charge for year 302 100,744 101,046
Eliminated on disposal - (3,161 ) (3,161 )
At 30 November 2024 5,131 1,572,997 1,578,128
NET BOOK VALUE
At 30 November 2024 2,414 554,124 556,538
At 30 November 2023 2,716 651,752 654,468

PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

6. TANGIBLE FIXED ASSETS - continued

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and
machinery
etc
£   
COST
At 1 December 2023
and 30 November 2024 607,624
DEPRECIATION
At 1 December 2023 195,741
Charge for year 61,782
At 30 November 2024 257,523
NET BOOK VALUE
At 30 November 2024 350,101
At 30 November 2023 411,883

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 262,828 387,671
Other debtors 15,456 151,583
278,284 539,254

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 103,147 132,125
Trade creditors 154,714 144,439
Taxation and social security 102,368 68,569
Other creditors 24,943 29,141
385,172 374,274

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Hire purchase contracts (see note 10) 71,788 174,935

10. LEASING AGREEMENTS

At 30 November 2024 the company had total commitments under non-cancellable operating leases over the remaining life of those leases of £571,154 (2023: £645,539).

Net obligations under finance leases and hire purchase contracts are secured on the assets acquired.

PETER JONES ENGINEERING LIMITED (REGISTERED NUMBER: 03824388)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 NOVEMBER 2024

11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

During the year the company advanced £118,504 (2023: £135,008) to the directors and an amount of £248,000 (2023: £nil) was repaid. The amounts advanced are interest free and the loan is repayable on demand.

At the balance sheet date the company was owed £nil (2023: £127,857) by the directors.