REGISTERED NUMBER: 03212967 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

AA JONES ELECTRIC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A O Moore

A Moulds

Ms J S Lomax

REGISTERED OFFICE:

Unit H, Venture Business Park

Witty Street

Hull

HU3 4EL

REGISTERED NUMBER:

03212967 (England and Wales)

ACCOUNTANTS:

Sowerby

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Intangible assets

4

135,000

155,000

Tangible assets

5

290,082

369,701

Investment property

6

-

250,000

425,082

774,701

CURRENT ASSETS

Stocks

958,676

790,034

Debtors

7

2,357,287

1,820,562

Cash at bank and in hand

32,669

559,443

3,348,632

3,170,039

CREDITORS

Amounts falling due within one year

8

1,154,736

1,357,195

NET CURRENT ASSETS

2,193,896

1,812,844

TOTAL ASSETS LESS CURRENT LIABILITIES

2,618,978

2,587,545

CREDITORS

Amounts falling due after more than one year

9

(73,204

)

(240,873

)

PROVISIONS FOR LIABILITIES

(54,050

)

(72,075

)

NET ASSETS

2,491,724

2,274,597

CAPITAL AND RESERVES

Called up share capital

60,002

60,002

Retained earnings

2,431,722

2,214,595

SHAREHOLDERS' FUNDS

2,491,724

2,274,597

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 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.

The financial statements were approved by the Board of Directors and authorised for issue on 9 August 2025 and were signed on its behalf by:

A O Moore - Director

Ms J S Lomax - Director

1.	STATUTORY INFORMATION

AA Jones Electric Limited is a company incorporated and domiciled in England and has its registered office and principle place of business at Unit H, Venture Business Park, Witty Street, Hull, HU3 4TT

The principal activity of the Company is an electrical wholesalers.

The presentational currency of the financial statements is 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.

Having regard to liquidity risk, current market conditions and other factors affecting the company, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

The directors, having taken into the factors discussed above as well as the uncertainties of the current economic environment, have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.

Turnover

Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover is recognised at point of sale. Sales are recognised at the point which the company has fulfilled its contractual obligations and the risks and rewards attached to the product, have been transferred to the customer.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2001, was originally being amortised evenly over its estimated useful life of twenty years. On transition to FRS 102 the remaining estimated useful life was five years.

Goodwill, being the amount paid in connection with the acquisition of a business in 2022, is being amortised evenly over its estimated useful life of ten years.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of 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

-

over the period of the lease

Plant and machinery etc

-

33% on reducing balance, 25% on a reducing balance basis and 15% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving items. 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. Stock is calculated on the first in first out basis.

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 taxation

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.

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.

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.

Operating leases

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

Government grants

Government grants received by the company during the year are taken to profit as received.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 21 (2024 - 21 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

260,000

AMORTISATION

At 1 April 2024

105,000

Charge for year

20,000

At 31 March 2025

125,000

NET BOOK VALUE

At 31 March 2025

135,000

At 31 March 2024

155,000

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2024

245,772

517,469

763,241

Additions

2,439

4,716

7,155

At 31 March 2025

248,211

522,185

770,396

DEPRECIATION

At 1 April 2024

79,116

314,424

393,540

Charge for year

18,790

67,984

86,774

At 31 March 2025

97,906

382,408

480,314

NET BOOK VALUE

At 31 March 2025

150,305

139,777

290,082

At 31 March 2024

166,656

203,045

369,701

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

Plant and

machinery

etc

£

COST

At 1 April 2024

and 31 March 2025

135,744

DEPRECIATION

At 1 April 2024

34,876

Charge for year

33,936

At 31 March 2025

68,812

NET BOOK VALUE

At 31 March 2025

66,932

At 31 March 2024

100,868

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

250,000

Disposals

(250,000

)

At 31 March 2025

-

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

250,000

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Trade debtors

833,804

807,941

Amounts owed by group undertakings

1,494,869

957,315

Amounts owed by related parties

-

25,872

Other debtors

28,614

29,434

2,357,287

1,820,562

The amount owed by group undertakings is in respect of amounts due from companies within the group, including the parent company. The balance does not attract interest and although strictly repayable on demand, £1,494,869 (2024: £957,315) will not be repaid within 12 months.

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

as restated

£

£

Bank loans and overdrafts

18,750

91,875

Hire purchase contracts

26,901

22,217

Trade creditors

714,184

998,949

Taxation and social security

279,304

190,020

Other creditors

115,597

54,134

1,154,736

1,357,195

9.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

as restated

£

£

Bank loans

-

140,769

Hire purchase contracts

73,204

100,104

73,204

240,873

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

53,519

10.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

as restated

£

£

Bank loans

18,750

232,644

Hire purchase contracts

100,105

122,321

118,855

354,965

The bank overdraft,loans and other creditors are secured by a fixed and floating charge over the company's assets.Hire purchase borrowings are secured on the assets to which they relate.

The loan secured through the government supported CBILS scheme for £300,000 carries interest at 2.71% above base and is repayable over 5 years commencing July 2021.

The company also had a secured bank loan of £168,750 which carried interest at 3.15% above base and was repayable over 10 years commencing in January 2022. The company repaid the loan during the year.

11.	RELATED PARTY DISCLOSURES

The company has paid a dividend to it's parent company during the year amounting to £100,000 (2024 £270,000).

Included in Debtors due within one year is an amount due from companies within the group, including the company's parent company, amounting to £1,494,869 (2024 £957,315).