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Registration number: 14344314

Jones Holdings Ltd
Annual Report and Consolidated Financial Statements
for the Year Ended 31 March 2025

Jones Holdings Ltd

Contents

Company Information | 1
Strategic Report | 2 to 3
Directors' Report | 4 to 5
Statement of Directors' Responsibilities | 6
Independent Auditor's Report | 7 to 9
Consolidated Profit and Loss Account | 10
Consolidated Balance Sheet | 11
Balance Sheet | 12
Consolidated Statement of Changes in Equity | 13
Statement of Changes in Equity | 14
Consolidated Statement of Cash Flows | 15
Notes to the Financial Statements | 16 to 30

Jones Holdings Ltd

Company Information

Directors | Mr Mark Thomas Jones Mrs Irene Anne Jones Miss Louise Abdy Miss Tanya Marie Jones Mrs Samantha Jones Mr Daniel Jones

Registered office | 9 Ketterer Court Jackson Street St. Helens WA9 3AH

Auditors | Just Audit Limited Strelley Hall Main Street Strelley Nottingham NG8 6PE

Jones Holdings Ltd

Strategic Report for the Year Ended 31 March 2025

The directors present their strategic report for the group and company for the year ended 31 March 2025.

Principal activity

The principal activity of the company is that of a holding company.

Fair review of the business

Turnover for the year decreased by 13% to £13.2 million (2024: £15.3 million), the group also experienced delays and disruption caused by client uncertainty around evolving building safety policies and directives, which contributed to the reduced revenue.
Despite the top-line contraction, the group delivered a healthy gross profit of £4.89 million. Gross profit margin reduced from 47% to 37%, largely due to increased remedial costs, pricing pressures in specific workstreams, and some underperformance linked to unsuccessful recruitment into key roles. In response, the Directors implemented a focused operational reset, prioritising fundamental project controls, more rigorous resource planning, and margin-led workload allocation.
Profit before tax was £1.83 million (2024: £4.42 million), impacted by both reduced turnover and increased strategic investment in business continuity planning, compliance systems, and employee development. Nevertheless, the group retains a strong consolidated balance sheet position, with net assets of £9.15m at 31 March 2025, and continues to operate with resilience and confidence.
During the year, the group also commenced a programme of diversified investment activity, deploying approximately £500,000 into exchange-traded funds and equity stakes in select companies. It is the Directors’ intention to continue investing surplus funds across a range of asset classes to generate additional returns for shareholders, alongside reinvestment into the group’s trading operations. This approach supports long-term value creation and effectively spreads financial risk across both operational and investment assets.
The group made significant progress in expanding its capabilities, including entry into the active fire safety market and achieving BAFE SP203 accreditation — a key milestone that aligns with our broader vision of delivering fully integrated building safety solutions. Looking ahead, the Directors are committed to reinvesting profits to support sustainable growth, to further de-risk operations, and to strengthen our service offer across compliance activities.
The Directors would like to express their sincere thanks to all employees for their commitment and adaptability during a year of strategic repositioning and transformation.

Jones Holdings Ltd

Strategic Report for the Year Ended 31 March 2025

The group's key financial performance indicators during the year were as follows:

Financial KPIs | Unit | 2025 | 2024
Turnover | £ | 13,250,066 | 15,303,272
Turnover growth | % | (13) | 31
Gross profit | £ | 4,892,649 | 7,143,676
Gross profit % | % | 37 | 47
Profit before tax | £ | 1,829,885 | 4,420,248

Principal risks and uncertainties

The group recognises a number of risks that could affect future growth and profitability, including:
1. Public Sector Funding Constraints: As a contractor primarily serving housing associations and local authorities, the group is sensitive to changes in public sector funding. Inflationary pressures and evolving building safety legislation continue to influence client spending behaviours and the timing of capital works.
2. Operational Dependencies: Recruitment and retention remain key strategic priorities. Investment in employee development, improved leadership structures, and enhanced benefits packages are underway to support staff engagement and succession planning.
3. Technology and Systems Risk: The business relies heavily on integrated digital systems for contract management, compliance tracking, scheduling, and reporting. To mitigate this risk, robust business continuity and cyber resilience plans are maintained, tested regularly, and updated in line with best practice.
4. Client Concentration: To address the risk of overreliance on a limited number of clients, the group has actively pursued new partnerships and frameworks. These efforts are starting to yield a broader and more resilient pipeline of work for the 2025/26 financial year.

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:

......................................... Mrs Samantha Jones Director
......................................... Mr Daniel Jones Director

Jones Holdings Ltd

Directors' Report for the Year Ended 31 March 2025

The directors present their report and the consolidated financial statements for the year ended 31 March 2025.

Directors of the group and company

The directors who held office during the year were as follows:

Mr Mark Thomas Jones

Mrs Irene Anne Jones

Miss Louise Abdy

Miss Tanya Marie Jones

Mrs Samantha Jones

Mr Daniel Jones

Financial instruments

Price risk, credit risk, liquidity risk and cash flow risk

The business's principal financial instruments comprise bank balances, trade debtors, trade creditors, loans to the business, and hire purchase agreements. The main purpose of these instruments is to finance the business's operations.
In respect of the bank balances, the liquidity risk is managed by maintaining a balance between the continuity of funding and flexibility, through the use of loans. All of the business cash balances are held in such a way that achieves a competitive rate of interest.
Trade debtors are managed in respect of credit and cash flow risk by policies concerning credit offered to customers and the regular monitoring of amounts outstanding for both time and credit limits. The amounts presented in the consolidated balance sheet are net of allowances for doubtful debtors.
Trade creditors' liquidity risk is managed by ensuring sufficient funds are available to meet amounts due. Loans comprise loans from the directors. The business manages the liquidity risk in respect of these by ensuring that there are sufficient funds to meet the payments.
The business is a lessee in respect of assets on hire purchase. The liquidity risk in respect of these is managed by ensuring that there are sufficient funds to meet the payments.

In respect of the group’s fixed asset investments (other financial assets), these comprise listed company shares and exchange-traded funds held through a diversified portfolio. The principal risk associated with these investments is price volatility, which the Directors manage by maintaining diversification across sectors and asset classes and by regularly reviewing portfolio performance. The investments are unleveraged, readily realisable, and held for the medium to long term, so liquidity and cash flow risks are considered low. Credit risk is minimal as the investments are held through regulated institutions.

Dividends

After the year end, dividends of £524,700 have been paid.

Jones Holdings Ltd

Directors' Report for the Year Ended 31 March 2025

Statement of directors' responsibilities

The statement of directors' responsibilities which the directors agree to is included on page 6.

Disclosure of information to the auditor

Each director has taken steps that they ought to have taken as a director in order to make themselves aware of any relevant audit information and to establish that the company's auditor is aware of that information. The directors confirm that there is no relevant audit information (as defined by section 418 of the Companies Act 2006) that they know of and of which they know the auditor is unaware.

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:

......................................... Mrs Samantha Jones Director
......................................... Mr Daniel Jones Director

Jones Holdings Ltd

Statement of Directors' Responsibilities

The directors acknowledge their responsibilities for preparing the strategic report, the directors' report, and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law, the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the group and the company and of the profit or loss of the group for that period. In preparing these financial statements, the directors are required to:

• | select suitable accounting policies and apply them consistently;

• | make judgements and accounting estimates that are reasonable and prudent;

• | state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements; and

• | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group and company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the group's and the company's transactions and disclose with reasonable accuracy at any time the financial position of the group and the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the group and the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Jones Holdings Ltd

Independent Auditor's Report to the Members of Jones Holdings Ltd

Opinion

We have audited the financial statements of Jones Holdings Ltd (the 'parent company') and its subsidiaries (the 'group') for the year ended 31 March 2025, which comprise the Consolidated Profit and Loss Account, Consolidated Balance Sheet, Balance Sheet, Consolidated Statement of Changes in Equity, Statement of Changes in Equity, Consolidated Statement of Cash Flows, and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion, the financial statements:

• | give a true and fair view of the state of the group's and the parent company's affairs as at 31 March 2025 and of the group's profit for the year then ended;
• | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
• | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the auditor responsibilities for the audit of the financial statements section of our report. We are independent of the group in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's and the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information included in the strategic report and directors' report, other than the financial statements and our auditor’s report thereon. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether there is a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.

Jones Holdings Ltd

Independent Auditor's Report to the Members of Jones Holdings Ltd

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

• | the information given in the Strategic Report and Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and

• | the Strategic Report and Directors' Report have been prepared in accordance with applicable legal requirements.

Matters on which we are required to report by exception

In the light of our knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report and the Directors' Report.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

• | adequate accounting records have not been kept by the parent company, or returns adequate for our audit have not been received from branches not visited by us; or
• | the parent company financial statements are not in agreement with the accounting records and returns; or
• | certain disclosures of directors' remuneration specified by law are not made; or

• | we have not received all the information and explanations we require for our audit.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities [set out on page 6], the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the group's and the parent company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the group or the parent company or to cease operations, or have no realistic alternative but to do so.

Auditor Responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Jones Holdings Ltd

Independent Auditor's Report to the Members of Jones Holdings Ltd

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
We gained an understanding of the legal and regulatory framework applicable to the parent company and the group and the industry in which it operates and considered the risk of acts by the parent company and the group that were contrary to applicable laws and regulations, including fraud. We designed audit procedures to respond to the risk, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one resulting from error, as fraud may involve deliberate concealment by, for example, forgery or intentional misrepresentations, or through collusion. We focused on laws and regulations which could give rise to a material misstatement in the financial statements, including, but not limited to, the Companies Act 2006 and UK tax legislation. Our tests included agreeing the financial statement disclosures to underlying supporting documentation and enquiries with management. There are inherent limitations in the audit procedures described above and, the further removed non-compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we would become aware of it. We did not identify any key audit matters relating to irregularities, including fraud. As in all our audits, we also addressed the risk of management override of internal controls, including testing journals and evaluating whether there was evidence of bias by the directors that represented a risk of material misstatement due to fraud.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor’s report.

Use of our report

This report is made solely to the company’s members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company’s members those matters we are required to state to them in an auditor’s report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company’s members as a body, for our audit work, for this report, or for the opinions we have formed.

......................................
Rachel Davis BA FCA (Senior Statutory Auditor)
For and on behalf of Just Audit Limited, Chartered Accountants and Statutory Auditors
Strelley Hall
Main Street
Strelley
Nottingham
NG8 6PE

21 October 2025

Jones Holdings Ltd

Consolidated Profit and Loss Account for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Turnover | 3 | 13,250,066 | 15,303,272
Cost of sales |  | (8,357,417) | (8,159,596)
Gross profit |  | 4,892,649 | 7,143,676
Administrative expenses |  | (3,073,974) | (2,706,297)
Operating profit | 5 | 1,818,675 | 4,437,379
Change in value of investments |  | (49,358) | 5,864
Other interest receivable and similar income | 6 | 114,013 | 20,046
Interest payable and similar charges | 7 | (53,445) | (43,041)
|  | 11,210 | (17,131)
Profit before tax |  | 1,829,885 | 4,420,248
Taxation | 11 | (458,143) | (1,092,175)
Profit for the financial year |  | 1,371,742 | 3,328,073

Jones Holdings Ltd

(Registration number: 14344314)
Consolidated Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 13 | 1,975,956 | 1,685,713
Other financial assets | 15 | 507,403 | -
|  | 2,483,359 | 1,685,713
Current assets |  |  |
Stocks | 16 | 133,635 | 195,361
Debtors | 17 | 2,887,380 | 2,955,699
Other investments | 15 | - | 56,194
Cash at bank and in hand | 18 | 6,108,208 | 6,808,559
|  | 9,129,223 | 10,015,813
Creditors: Amounts falling due within one year | 19 | (1,554,748) | (2,161,550)
Net current assets |  | 7,574,475 | 7,854,263
Total assets less current liabilities |  | 10,057,834 | 9,539,976
Creditors: Amounts falling due after more than one year | 19 | (418,470) | (500,425)
Provisions for liabilities | 20 | (493,989) | (421,218)
Net assets |  | 9,145,375 | 8,618,333
Capital and reserves |  |  |
Called up share capital | 22 | 198 | 198
Retained earnings |  | 9,145,177 | 8,618,135
Equity attributable to owners of the company |  | 9,145,375 | 8,618,333
Shareholders' funds |  | 9,145,375 | 8,618,333

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:

......................................... Mrs Samantha Jones Director
......................................... Mr Daniel Jones Director

Jones Holdings Ltd

(Registration number: 14344314)
Balance Sheet as at 31 March 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Investments | 14 | 198 | 198
Other financial assets | 15 | 507,403 | -
|  | 507,601 | 198
Current assets |  |  |
Debtors | 17 | - | 2,855
Other investments | 15 | - | 56,194
Cash at bank and in hand | 18 | 4,334,199 | 5,354,252
|  | 4,334,199 | 5,413,301
Creditors: Amounts falling due within one year | 19 | (12,964) | (472,406)
Net current assets |  | 4,321,235 | 4,940,895
Net assets |  | 4,828,836 | 4,941,093
Capital and reserves |  |  |
Called up share capital | 22 | 198 | 198
Retained earnings |  | 4,828,638 | 4,940,895
Shareholders' funds |  | 4,828,836 | 4,941,093

The company made a profit after tax for the financial year of £732,442 (year ended 31 March 2024 - profit after tax of £2,725,895).

Approved and authorised by the Board on 21 October 2025 and signed on its behalf by:

......................................... Mrs Samantha Jones Director
......................................... Mr Daniel Jones Director

Jones Holdings Ltd

Consolidated Statement of Changes in Equity for the Year Ended 31 March 2025

| Share capital £ | Retained earnings £ | Total £
At 1 April 2024 | 198 | 8,618,135 | 8,618,333
Profit for the year | - | 1,371,742 | 1,371,742
Dividends | - | (844,700) | (844,700)
At 31 March 2025 | 198 | 9,145,177 | 9,145,375

| Share capital £ | Retained earnings £ | Total £
At 1 April 2023 | 198 | 6,175,062 | 6,175,260
Profit for the year | - | 3,328,073 | 3,328,073
Dividends | - | (885,000) | (885,000)
At 31 March 2024 | 198 | 8,618,135 | 8,618,333

Jones Holdings Ltd

Statement of Changes in Equity for the Year Ended 31 March 2025

Company | Share capital £ | Retained earnings £ | Total £
At 1 April 2024 | 198 | 4,940,896 | 4,941,094
Profit for the year | - | 732,442 | 732,442
Dividends | - | (844,700) | (844,700)
At 31 March 2025 | 198 | 4,828,638 | 4,828,836

| Share capital £ | Retained earnings £ | Total £
At 1 April 2023 | 198 | 3,100,000 | 3,100,198
Profit for the year | - | 2,725,895 | 2,725,895
Dividends | - | (885,000) | (885,000)
At 31 March 2024 | 198 | 4,940,895 | 4,941,093

Jones Holdings Ltd

Consolidated Statement of Cash Flows for the Year Ended 31 March 2025

| Note | 2025 £ | 2024 £
Cash flows from operating activities
Profit for the year |  | 1,371,742 | 3,328,073
Depreciation | 5 | 312,281 | 241,360
Loss on disposal of tangible assets | 4 | 20,487 | 51,838
Change in value of investments |  | 49,358 | (5,864)
Interest Receivable | 6 | (114,013) | (20,046)
Finance costs | 7 | 53,461 | 43,041
Income tax expense | 11 | 458,143 | 1,092,175
|  | 2,151,459 | 4,730,577
Working capital adjustments |  |  |
Decrease in stocks | 16 | 61,726 | 18,160
Decrease/(increase) in trade and other debtors | 17 | 208,085 | (597,005)
Increase in trade and other creditors | 19 | 42,128 | 292,631
Cash generated from operations |  | 2,463,398 | 4,444,363
Income taxes paid |  | (753,863) | (1,045,625)
Net cash flow from operating activities |  | 1,709,535 | 3,398,738
Cash flows from investing activities |  |  |
Interest receivable |  | 114,013 | 25,910
Acquisitions of tangible assets |  | (383,210) | (572,335)
Proceeds from sale of tangible assets |  | 31,270 | 55,684
Investments |  | (500,000) | (50,000)
Net cash flows from investing activities |  | (737,927) | (540,741)
Cash flows from financing activities |  |  |
Interest paid |  | (54,028) | (43,041)
Repayment of other borrowing |  | (1,313,474) | (759,424)
Payments to finance lease creditors |  | (304,457) | (264,517)
Net cash flows from financing activities |  | (1,671,959) | (1,066,982)
Net (decrease)/increase in cash and cash equivalents |  | (700,351) | 1,791,015
Cash and cash equivalents at 1 April |  | 6,808,559 | 5,017,544
Cash and cash equivalents at 31 March |  | 6,108,208 | 6,808,559

Major non - cash transactions

Non cash changes relate to new finance leases entered into with a capital value at inception of the lease of £271,071 (2024 £437,411) and dividends declared and credited to the directors loan accounts of £844,700 (2024 £885,000).

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
9 Ketterer Court
Jackson Street
St. Helens
WA9 3AH
England

These financial statements were authorised for issue by the Board on 21 October 2025.

2 | Accounting policies

The presentation currency is £ sterling.

Summary of significant accounting policies

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements were prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention, as modified by the valuation at fair value of fixed asset investments (other financial assets).

Summary of disclosure exemptions

In preparing the separate financial statements of the parent company, advantage has been taken of the following
disclosure exemptions available in FRS 102:
- only one reconciliation of the number of shares outstanding at the beginning and the end of the period has
been presented as the reconciliation of the group and the parent company would be identical;
- the profit and loss account of the parent company is not presented, in accordance with exemptions available
under section 408 of the Companies Act 2006; and
- no statement of cash flows has been presented for the company.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Basis of consolidation

The consolidated financial statements present the results of the company and its subsidiary ("the Group") as if
they formed a single entity. Inter-company transactions, balances and unrealised gains on transactions between the company and its subsidiary, which is a related party, are eliminated in full.
On 16 December 2022 Jones Holdings Ltd purchased the shares in TF Jones Property Services Ltd under
a group reconstruction and this was accounted for using merger accounting principles. Therefore, although the group reconstruction did not become effective until 16 December 2022 the consolidated financial statements of Jones Holdings Ltd were presented as if TF Jones Property Services Ltd and Jones Holdings Ltd had always been part of the same Group.
Accordingly, the results of the Group for the entire year ended 31 March 2023 were shown in the consolidated profit and loss account.
Uniform group accounting policies are used for determining the amounts to be included in the consolidated
financial statements. Where necessary, amounts which have been reported by the subsidiary undertaking in their
individual financial statements are adjusted for on consolidation.

Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company and group has adequate resources to continue in operational existence for the foreseeable future due to the fact that the group has continued to trade well. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the group’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The group recognises revenue when:
-The amount of revenue can be reliably measured;
-It is probable that future economic benefits will flow to the entity; and
-Specific criteria have been met for each of the group's activities.

Contract revenue is recognised by reference to the stage of completion of the contract activity as at the year end, any amounts not yet invoiced are included in debtors within gross amount due from customers for contract work.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the consolidated financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Plant and machinery | 15% reducing balance
Furniture, fittings,equipment | 10% - 15% reducing balance
Motor vehicles | 15% reducing balance

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the group’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class | Amortisation method and rate
Goodwill | 10% straight line

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Trade debtors

Trade debtors are amounts due from customers for services performed in the ordinary course of business.
Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the group will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the group does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
Borrowings are classified as current liabilities unless the group has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over the shorter of the lease term and their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract and represent a constant proportion of the balance of capital repayments outstanding.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

Dividends

Dividend distribution to the group’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the group has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.
Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Accounting policy judgements and key sources of estimation uncertainty

Significant judgements
In the preparation of these financial statements the directors have made the following judgement:
- Estimation of the stage of completion of contracts determines the income recognised in the year.
Other key sources of estimation uncertainty
Tangible assets are depreciated over their anticipated useful lives taking into account residual values where
appropriate. The useful lives of the assets and residual values are assessed annually, and may vary depending on
a number of factors. In reassessing asset lives, factors such as technological innovation and product life cycles
are taken into account. Residual value assessments consider issues such as future market conditions, the
remaining life of the asset, and projected disposal values.

3 | Turnover

The analysis of the group's Turnover for the year from continuing operations is as follows:

| 2025 £ | 2024 £
Provision of services | 13,250,066 | 15,303,272

The whole of the turnover is attributable to the principal activity wholly undertaken in the United Kingdom.

4 | Other gains and losses

The analysis of the group's other gains and losses for the year is as follows:

| 2025 £ | 2024 £
Loss on disposal of Tangible assets | (20,487) | (51,838)

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

5 | Operating profit

Arrived at after charging/(crediting)

| 2025 £ | 2024 £
Depreciation expense | 312,281 | 241,360
Operating lease expense -motor vehicles | 65,569 | 25,039
Loss on disposal of property, plant and equipment | 20,487 | 51,838

6 | Other interest receivable and similar income

| 2025 £ | 2024 £
Interest income on bank deposits | 113,694 | 20,046
Dividend income | 319 | -
| 114,013 | 20,046

7 | Interest payable and similar expenses

| 2025 £ | 2024 £
Interest on obligations under finance leases and hire purchase contracts | 53,461 | 28,154
Interest expense on other finance liabilities | - | 14,887
Foreign exchange losses | (16) | -
| 53,445 | 43,041

8 | Staff costs

The aggregate payroll costs (including directors' remuneration) were as follows:

| 2025 £ | 2024 £
Wages and salaries | 4,993,467 | 3,997,017
Social security costs | 481,666 | 394,923
Pension costs, defined contribution scheme | 388,735 | 513,089
Other employee expense | 88,486 | 59,021
| 5,952,354 | 4,964,050

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

The average number of persons employed by the group (including directors) during the year, analysed by category was as follows:

| 2025 No. | 2024 No.
Directors | 6 | 6
Administration | 11 | 6
Site based | 125 | 117
| 142 | 129

9 | Directors' remuneration

The directors' remuneration for the year was as follows:

| 2025 £ | 2024 £
Remuneration | 75,240 | 75,240
Contributions paid to money purchase schemes | 300,000 | 340,000
| 375,240 | 415,240

During the year the number of directors who were receiving retirement benefits was as follows:

| 2025 No. | 2024 No.
Accruing benefits under money purchase pension scheme | 5 | 5

10 | Auditors' remuneration

| 2025 £ | 2024 £
Audit of the group financial statements | 26,915 | 26,000

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

11 | Taxation

Tax charged/(credited) in the consolidated profit and loss account

| 2025 £ | 2024 £
Current taxation |  |
UK corporation tax | 385,372 | 939,800
UK corporation tax adjustment to prior periods | - | (11,660)
| 385,372 | 928,140
Deferred taxation |  |
Arising from origination and reversal of timing differences | 72,771 | 164,035
Tax expense in the consolidated profit and loss account | 458,143 | 1,092,175

The tax on profit before tax for the year is higher than the standard rate of corporation tax in the UK (2024 - lower than the standard rate of corporation tax in the UK ) of 25% (2024 - 25%).
The differences are reconciled below:

| 2025 £ | 2024 £
Profit before tax | 1,829,885 | 4,420,248
Corporation tax at standard rate | 457,471 | 1,105,062
Effect of super deduction | 672 | (1,227)
Decrease in current tax from adjustment for prior periods | - | (11,660)
Total tax charge | 458,143 | 1,092,175

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

12 | Intangible assets

Group

| Goodwill £ | Total £
Cost
At 1 April 2024 | 300,000 | 300,000
At 31 March 2025 | 300,000 | 300,000
Amortisation
At 1 April 2024 | 300,000 | 300,000
At 31 March 2025 | 300,000 | 300,000
Carrying amount
At 31 March 2025 | - | -
At 31 March 2024 | - | -

13 | Tangible assets

Group

| Furniture, fittings and equipment £ | Motor vehicles £ | Plant and machinery £ | Total £
Cost
At 1 April 2024 | 71,170 | 2,236,130 | 21,479 | 2,328,779
Additions | 1,708 | 652,573 | - | 654,281
Disposals | - | (143,085) | (732) | (143,817)
At 31 March 2025 | 72,878 | 2,745,618 | 20,747 | 2,839,243
Depreciation
At 1 April 2024 | 25,049 | 611,449 | 6,569 | 643,067
Charge for the year | 5,139 | 304,961 | 2,180 | 312,280
Eliminated on disposal | - | (91,400) | (660) | (92,060)
At 31 March 2025 | 30,188 | 825,010 | 8,089 | 863,287
Carrying amount
At 31 March 2025 | 42,690 | 1,920,608 | 12,658 | 1,975,956
At 31 March 2024 | 46,121 | 1,624,681 | 14,911 | 1,685,713

The net book value of the tangible assets includes £1,162,916 in respect of assets held under hire purchase contracts (2024: £1,109,456).

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

14 | Investments

Company

| 2025 £ | 2024 £
Investments in subsidiaries | 198 | 198

Subsidiaries | £
Cost
At 1 April 2024 and 31 March 2025 | 198
Carrying amount
At 31 March 2025 | 198
At 31 March 2024 | 198

The company's investment at the balance sheet date comprises:

Subsidiary

TF Jones Property Services Ltd - included in the consolidated financial statements
Ordinary shares: 100%
Registered office: 9 Ketterer Court, Jackson Street, St. Helens,WA9 3AH
Country of incorporation: England and Wales

15 | Other financial assets

Group and Company

| Other investments £ | Total £
Non-current financial assets
Cost or valuation
At 1 April 2024 | 56,194 | 56,194
Additions | 500,000 | 500,000
Movement in fair value | (48,791) | (48,791)
At 31 March 2025 | 507,403 | 507,403
Carrying amount
At 31 March 2025 | 507,403 | 507,403

Investments in listed companies and exchange-traded funds held as fixed asset investments.
In 2024 the £56,194 of investments were treated as current asset investments.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

16 | Stocks

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Consumables | 133,635 | 195,361 | - | -

17 | Debtors

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Trade debtors | 1,593,624 | 2,053,058 | - | -
Amounts owed by group | - | - | - | 2,855
Other debtors | 6,845 | 3,034 | - | -
Prepayments | 48,130 | 8,523 | - | -
Gross amount due from customers for contract work | 1,099,015 | 891,084 | - | -
Income tax asset | 139,766 | - | - | -
| 2,887,380 | 2,955,699 | - | 2,855

18 | Cash and cash equivalents

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Cash at bank | 6,108,208 | 6,808,559 | 4,334,199 | 5,354,252

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

19 | Creditors

|  | Group | Company
| Note | 2025 £ | 2024 £ | 2025 £ | 2024 £
Due within one year |  |  |  |  |
Loans and borrowings | 23 | 310,569 | 730,774 | - | 468,774
Trade creditors |  | 560,613 | 688,838 | - | -
Social security and other taxes |  | 425,908 | 435,690 | - | -
Outstanding defined contribution pension costs |  | 6,007 | 3,003 | - | -
Other payables |  | 81,021 | 27,991 | - | -
Accruals |  | 157,666 | 33,565 | - | -
Income tax liability |  | 12,964 | 241,689 | 12,964 | 3,632
|  | 1,554,748 | 2,161,550 | 12,964 | 472,406
Due after one year |  |  |  |  |
Loans and borrowings | 23 | 418,470 | 500,425 | - | -

Secured debts

Included within loans and borrowings are secured debts relating to assets under hire purchase contracts of £729,039 (2024: £762,435). The obligations under hire purchase contracts are secured on the assets to which they relate.

20 | Provisions for liabilities

Group

| Deferred tax £ | Total £
At 1 April 2024 | 421,218 | 421,218
Increase in existing provisions | 72,771 | 72,771
At 31 March 2025 | 493,989 | 493,989

21 | Pension and other schemes

Defined contribution pension scheme

The group operates a defined contribution pension scheme. The pension cost charged for the year represents contributions payable by the group to the scheme and amounted to £388,735 (2024 - £513,089).
Contributions totalling £6,007 (2024 - £3,003) were payable to the scheme at the end of the year and are included in creditors.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

22 | Share capital

Allotted, called up and fully paid shares

| 2025 | 2024
| No. | £ | No. | £
Ordinary Shares of £1 each | 198 | 198 | 198 | 198

The shares are designated into 33 Ordinary A, B, C, D, E, and F shares.
They are non-redeemable Ordinary shares. Each class of share carries full voting rights. Dividends may be declared independently on each share class at the discretion of the directors but otherwise rank pari passu.

23 | Loans and borrowings

Non-current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Hire purchase contracts | 418,470 | 500,425 | - | -

Current loans and borrowings

| Group | Company
| 2025 £ | 2024 £ | 2025 £ | 2024 £
Hire purchase contracts | 310,569 | 262,000 | - | -
Other borrowings | - | 468,774 | - | 468,774
| 310,569 | 730,774 | - | 468,774

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

24 | Dividends

Group

|  | 2025 |  | 2024
|  | £ |  | £
Dividends paid |  | 844,700 |  | 885,000

Company

|  | 2025 |  | 2024
|  | £ |  | £
Dividends paid |  | 844,700 |  | 885,000

25 | Controlling party

At 31 March 2025, the company was under the control of its directors, with no one individual being a controlling party.

26 | Transactions with directors - group

Directors' loan account balances of £nil (2024: £468,774) are included within Loans and borrowings due in less than one year.
These were payable on demand and no interest was due.
Dividends of £nil (2024: £nil) were paid to the directors by the subsidiary.

Dividends totalling £844,700 (2024 £885,000) were paid to the directors by the company during the year.

Jones Holdings Ltd

Notes to the Financial Statements for the Year Ended 31 March 2025

27 | Obligations under leases and hire purchase contracts

Hire purchase - group

The total of future minimum lease payments is as follows:

| 2025 £ | 2024 £
Not later than one year | 310,569 | 262,000
Later than one year and not later than five years | 418,469 | 500,435
| 729,038 | 762,435

Operating leases - group

Lessee
At the reporting date the group had commitments for future minimum lease payments under non cancellable operating leases, which fall due as follows:

| 2025 £ | 2024 £
Not later than one year | 25,000 | 25,000
Later than one year and not later than five years | 100,000 | 100,000
Later than five years | 10,417 | 35,417
| 135,417 | 160,417