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REGISTERED NUMBER: 07070103 (England and Wales)















JONES & FRASER LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 NOVEMBER 2024






JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


JONES & FRASER LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30 NOVEMBER 2024







DIRECTORS: T R J H Jones
F J L Fraser





REGISTERED OFFICE: Pontywal Farm
Bronllys
Brecon
Powys
LD3 0LU





REGISTERED NUMBER: 07070103 (England and Wales)





ACCOUNTANTS: Davies Edwards & Co
Chartered Certified Accountants
West Lodge
Rainbow Street
Leominster
Herefordshire
HR6 8DQ

JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)

STATEMENT OF FINANCIAL POSITION
30 NOVEMBER 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 98,947 98,116

CURRENT ASSETS
Stocks and work in progress 102,812 48,577
Debtors 5 25,077 70,426
Cash at bank and in hand 30,951 17,966
158,840 136,969
CREDITORS
Amounts falling due within one year 6 114,115 100,282
NET CURRENT ASSETS 44,725 36,687
TOTAL ASSETS LESS CURRENT
LIABILITIES

143,672

134,803

CREDITORS
Amounts falling due after more than one
year

7

(58,867

)

(65,086

)

PROVISIONS FOR LIABILITIES (19,780 ) (18,642 )
NET ASSETS 65,025 51,075

CAPITAL AND RESERVES
Called up share capital 8 100 100
Retained earnings 9 64,925 50,975
SHAREHOLDERS' FUNDS 65,025 51,075

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.

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.

JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)

STATEMENT OF FINANCIAL POSITION - continued
30 NOVEMBER 2024



The financial statements were approved by the Board of Directors and authorised for issue on 26 August 2025 and were signed on its behalf by:





F J L Fraser - Director


JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)

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

1. STATUTORY INFORMATION

Jones & Fraser 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.

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.
Tools and equipment - 20% on reducing balance and not provided
Motor vehicles - 25% on reducing balance
Office equipment - 33% on cost

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

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks and work in progress to their present location and condition.

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.

JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)

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

2. ACCOUNTING POLICIES - continued

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 5 (2023 - 8 ) .

4. TANGIBLE FIXED ASSETS
Tools and Motor Office
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 December 2023 35,147 190,225 3,164 228,536
Additions 37,345 - - 37,345
Disposals - (37,368 ) - (37,368 )
At 30 November 2024 72,492 152,857 3,164 228,513
DEPRECIATION
At 1 December 2023 20,384 107,228 2,807 130,419
Charge for year 10,423 19,086 355 29,864
Eliminated on disposal - (30,717 ) - (30,717 )
At 30 November 2024 30,807 95,597 3,162 129,566
NET BOOK VALUE
At 30 November 2024 41,685 57,260 2 98,947
At 30 November 2023 14,763 82,997 357 98,117

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:
Tools and Motor
equipment vehicles Totals
£    £    £   
COST
At 1 December 2023 - 78,186 78,186
Additions 31,000 - 31,000
At 30 November 2024 31,000 78,186 109,186
DEPRECIATION
At 1 December 2023 - 25,020 25,020
Charge for year 6,200 13,292 19,492
At 30 November 2024 6,200 38,312 44,512
NET BOOK VALUE
At 30 November 2024 24,800 39,874 64,674
At 30 November 2023 - 53,166 53,166

JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)

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

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 19,800 65,128
Directors' current accounts - 5,298
Prepayments and accrued income 5,277 -
25,077 70,426

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 19,793 18,263
Trade creditors 40,383 11,635
Tax 9,202 6,960
Social security and other taxes 5,139 5,959
VAT 15,520 33,531
Net pay control 9,490 11,138
Directors' current accounts 1,803 146
Accruals and deferred income 2,785 2,650
114,115 100,282

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 5,000 10,000
Bank loans - 2-5 years - 5,000
Hire purchase contracts 53,867 50,086
58,867 65,086

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

9. RESERVES
Retained
earnings
£   

At 1 December 2023 50,975
Profit for the year 37,950
Dividends (24,000 )
At 30 November 2024 64,925

JONES & FRASER LIMITED (REGISTERED NUMBER: 07070103)

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

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 November 2024 and 30 November 2023:

2024 2023
£    £   
T R J H Jones
Balance outstanding at start of year (147 ) 684
Amounts advanced 11,992 7,045
Amounts repaid (12,320 ) (7,876 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (475 ) (147 )

F J L Fraser
Balance outstanding at start of year 5,299 6,816
Amounts advanced 5,693 7,338
Amounts repaid (12,320 ) (8,855 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,328 ) 5,299

11. RELATED PARTY DISCLOSURES

During the year, total dividends of £24,000 (2023 - £14,000) were paid to the directors .