W.J.Jones(Zoar Agricultural Stores)Limited Filleted accounts for Companies House (small and micro)

COMPANY REGISTRATION NUMBER: 663124

W.J.Jones(Zoar Agricultural Stores)Limited

Filleted Unaudited Financial Statements

28 February 2025

W.J.Jones(Zoar Agricultural Stores)Limited

Financial Statements

Year ended 28 February 2025

Contents	Pages

Statement of financial position	1 to 2

Notes to the financial statements	3 to 7

W.J.Jones(Zoar Agricultural Stores)Limited

Statement of Financial Position

28 February 2025

	2025	2024
Note	£	£

Fixed assets

Tangible assets	6	609,271	610,099

Current assets

Stocks		949,397	935,477
Debtors	7	94,604	81,794
Investments	8	530,054	490,971
Cash at bank and in hand		329,871	227,029
		------------	------------
		1,903,926	1,735,271

Creditors: amounts falling due within one year	9	( 425,037)	( 371,475)
		------------	------------
Net current assets		1,478,889	1,363,796
		------------	------------
Total assets less current liabilities		2,088,160	1,973,895

Creditors: amounts falling due after more than one year	10	( 7,566)	( 31,159)

Provisions

Taxation including deferred tax	11	( 47,770)	( 36,512)
		------------	------------
Net assets		2,032,824	1,906,224
		------------	------------

Capital and reserves

Called up share capital	13	6,000	6,000
Share premium account		53,038	53,038
Profit and loss account		1,973,786	1,847,186
		------------	------------
Shareholders funds		2,032,824	1,906,224
		------------	------------

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- 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 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .

W.J.Jones(Zoar Agricultural Stores)Limited

Statement of Financial Position (continued)

28 February 2025

These financial statements were approved by the board of directors and authorised for issue on 19 September 2025 , and are signed on behalf of the board by:

Mrs C Griffiths

Director

Company registration number: 663124

W.J.Jones(Zoar Agricultural Stores)Limited

Notes to the Financial Statements

Year ended 28 February 2025

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Bridge Street, Neath, West Glamorgan, SA11 1RU.

2. Statement of compliance

These financial statements have been prepared in accordance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the Companies Act 2006.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The directors have a reasonable expectation that the company has adequate resources to continue operational existence for the foreseeable future. For this reason, the directors continue to adopt the going concern basis of accounting in preparing the annual financial statements.

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. Revenue from the sale of goods and services is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer, usually on despatch of the goods, the amount of revenue can be measured reliably, it is probable that the associated economic benefits will flow to the entity, and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

Freehold Property	-	5% reducing balance
Long Leasehold Property	-	over the term of the lease
Property Improvements	-	10% reducing balance
Plant, Equipment & Fittings	-	10-25% reducing balance basis
Motor Vehicles	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Finance leases and hire purchase contracts

Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.

Provisions

Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event, it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised as a finance cost in profit or loss in the period it arises.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 46 (2024: 45 ).

5. Tax on profit/(loss)

Major components of tax expense/(income)

	2025	2024
	£	£

Current tax:

UK current tax expense	21,786	–

Deferred tax:

Origination and reversal of timing differences	11,259	( 10,495)
	--------	--------
Tax on profit/(loss)	33,045	( 10,495)
	--------	--------

6. Tangible assets

	Freehold Property	Long Leasehold Property	Property Improvements	Plant, Equipment & Fittings	Motor Vehicles	Total
	£	£	£	£	£	£
Cost
At 29 Feb 2024	293,631	236,808	156,182	810,888	170,390	1,667,899
Additions	–	–	–	1,938	80,579	82,517
Disposals	–	–	–	–	( 56,482)	( 56,482)
	---------	---------	---------	---------	---------	------------
At 28 Feb 2025	293,631	236,808	156,182	812,826	194,487	1,693,934
	---------	---------	---------	---------	---------	------------
Depreciation
At 29 Feb 2024	177,910	36,486	71,984	633,253	138,167	1,057,800
Charge for the year	9,460	999	8,420	22,848	23,728	65,455
Disposals	–	–	–	–	( 38,592)	( 38,592)
	---------	---------	---------	---------	---------	------------
At 28 Feb 2025	187,370	37,485	80,404	656,101	123,303	1,084,663
	---------	---------	---------	---------	---------	------------
Carrying amount
At 28 Feb 2025	106,261	199,323	75,778	156,725	71,184	609,271
	---------	---------	---------	---------	---------	------------
At 28 Feb 2024	115,721	200,322	84,198	177,635	32,223	610,099
	---------	---------	---------	---------	---------	------------

Finance leases and hire purchase contracts

Included within the carrying value of tangible assets are the following amounts relating to assets held under finance leases or hire purchase agreements:

	Plant, Equipment & Fittings
	£
At 28 February 2025	15,722
	--------
At 28 February 2024	20,963
	--------

7. Debtors

	2025	2024
	£	£
Trade debtors	50,496	48,077
Other debtors	44,108	33,717
	--------	--------
	94,604	81,794
	--------	--------

Other debtors include an amount of £Nil (2024 - £Nil) falling due after more than one year.

8. Investments

	2025	2024
	£	£
Other investments	530,054	490,971
	---------	---------

9. Creditors: amounts falling due within one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	–	10,000
Trade creditors	305,976	297,343
Corporation tax	21,786	–
Social security and other taxes	56,669	25,177
Obligations under finance leases and hire purchase contracts	9,422	8,800
Other creditors	31,184	30,155
	---------	---------
	425,037	371,475
	---------	---------

10. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Bank loans and overdrafts (secured)	–	14,171
Obligations under finance leases and hire purchase contracts	7,566	16,988
	-------	--------
	7,566	31,159
	-------	--------

11. Provisions

	Deferred tax (note 12)
	£
At 29 February 2024	36,512
Additions	11,258
	--------
At 28 February 2025	47,770
	--------

12. Deferred tax

The deferred tax included in the statement of financial position is as follows:

	2025	2024
	£	£
Included in provisions (note 11)	47,770	36,512
	--------	--------

The deferred tax account consists of the tax effect of timing differences in respect of:

	2025	2024
	£	£
Accelerated capital allowances	47,770	36,512
	--------	--------

13. Called up share capital

Issued, called up and fully paid

	2025		2024
	No.	£	No.	£
Ordinary shares of £ 1 each	6,000	6,000	6,000	6,000
	-------	-------	-------	-------

14. Related party transactions

The company was under the control of Mrs C Griffiths and Mr M Jones, the managing directors, throughout the current and previous year by virtue of their equal shareholdings. The company has occupied the land utilised by the Garden, Horse and Agricultural Supplies activities under a formal lease arrangement dated 8 September 1998 for the period to 14 September 2086 at an annual rental of one peppercorn. During the year the company paid rental costs to Mrs C Griffiths and Mr M Jones, the managing directors, for the premises of the store totalling £19,944 (2024 - £26,592). During the year the company paid dividends totalling £1,000 (2024 - £2,000) to the shareholders.