REGISTERED NUMBER: 04685684 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

PHIL JONES ASSOCIATES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

P Jones

N S Millington

M Nettleton

REGISTERED OFFICE:

Park Point

17 High Street

Longbridge

Birmingham

West Midlands

B31 2UQ

REGISTERED NUMBER:

04685684 (England and Wales)

AUDITORS:

Luckmans Duckett Parker Limited

1110 Elliott Court

Coventry Business Park

Herald Avenue

Coventry

West Midlands

CV5 6UB

FIXED ASSETS

Tangible assets

4

508,910

431,674

Investments

5

5,571

10,991

514,481

442,665

CURRENT ASSETS

Stocks

939,120

663,982

Debtors

6

1,950,450

1,555,128

Cash at bank and in hand

604,735

408,358

3,494,305

2,627,468

CREDITORS

Amounts falling due within one year

7

2,918,301

1,865,529

NET CURRENT ASSETS

576,004

761,939

TOTAL ASSETS LESS CURRENT LIABILITIES

1,090,485

1,204,604

CREDITORS

Amounts falling due after more than one year

8

(290,665

)

(306,554

)

PROVISIONS FOR LIABILITIES

(86,463

)

(99,515

)

NET ASSETS

713,357

798,535

CAPITAL AND RESERVES

Called up share capital

10

100

100

Fair value reserve

11

(3,218

)

(2,038

)

Retained earnings

11

716,475

800,473

SHAREHOLDERS' FUNDS

713,357

798,535

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 December 2025 and were signed on its behalf by:

N S Millington - Director

1.	STATUTORY INFORMATION

Phil Jones Associates 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 as modified by the revaluation of certain assets.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of consideration receivable for services performed in the period, net of 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.

Fixtures and fittings

-

25% on reducing balance

Motor vehicles

-

25% on reducing balance

Work in progress

Work in progress represents the sales value of unbilled services performed at year end.

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 tax

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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 79 (2024 - 78 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures

to

and

Motor

property

fittings

vehicles

Totals

£

£

£

£

COST

At 1 April 2024

20,120

444,007

380,757

844,884

Additions

27,825

56,471

161,078

245,374

Disposals

-

-

(84,740

)

(84,740

)

At 31 March 2025

47,945

500,478

457,095

1,005,518

DEPRECIATION

At 1 April 2024

1,575

297,166

114,469

413,210

Charge for year

4,877

41,108

86,652

132,637

Eliminated on disposal

-

-

(49,239

)

(49,239

)

At 31 March 2025

6,452

338,274

151,882

496,608

NET BOOK VALUE

At 31 March 2025

41,493

162,204

305,213

508,910

At 31 March 2024

18,545

146,841

266,288

431,674

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

Fixtures

and

Motor

fittings

vehicles

Totals

£

£

£

COST

At 1 April 2024

26,187

380,757

406,944

Additions

-

161,078

161,078

Disposals

-

(84,740

)

(84,740

)

At 31 March 2025

26,187

457,095

483,282

DEPRECIATION

At 1 April 2024

18,419

114,469

132,888

Charge for year

1,942

86,652

88,594

Eliminated on disposal

-

(49,239

)

(49,239

)

At 31 March 2025

20,361

151,882

172,243

NET BOOK VALUE

At 31 March 2025

5,826

305,213

311,039

At 31 March 2024

7,768

266,288

274,056

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 April 2024

10,991

Disposals

(4,240

)

Revaluations

(1,180

)

At 31 March 2025

5,571

NET BOOK VALUE

At 31 March 2025

5,571

At 31 March 2024

10,991

Cost or valuation at 31 March 2025 is represented by:

Other

investments

£

Valuation in 2021

(12,434

)

Valuation in 2022

1,474

Valuation in 2023

(3,296

)

Valuation in 2024

(2,038

)

Cost

21,865

5,571

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

1,438,116

1,046,051

Amounts owed by group undertakings

344,908

257,517

Other debtors

10,413

25,240

Directors' loan accounts

10,583

9,812

Tax

-

27,922

Prepayments and accrued income

146,430

188,586

1,950,450

1,555,128

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

56,879

131,991

Hire purchase contracts

47,222

31,589

Trade creditors

532,521

359,199

Amounts owed to group undertakings

498,615

37,055

Tax

44,567

1,624

Social security and other taxes

121,245

92,380

VAT

306,401

283,903

Other creditors

53,420

62,163

Accruals and deferred income

1,257,431

865,625

2,918,301

1,865,529

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

56,879

Hire purchase contracts

290,665

249,675

290,665

306,554

9.	SECURED DEBTS

The following secured debts are included within creditors:

2025

2024

£

£

Hire purchase contracts

337,887

281,264

The secured debts are secured against the related assets.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

81

Ordinary A

50p

40

40

75

Ordinary B

50p

38

38

44

Ordinary C

50p

22

22

100

100

11.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

800,473

(2,038

)

798,435

Profit for the year

754,302

754,302

Dividends

(838,300

)

(838,300

)

Gain/loss on revaluation of

investments in year

-

(1,180

)

(1,180

)

At 31 March 2025

716,475

(3,218

)

713,257

12.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was qualified on the following basis:

Basis for qualified opinion

The financial statements to 31st March 2023 and 31st March 2024 were not audited. As part of our audit, we have reviewed the information and explanations available in relation to the cut off of work in progress and deferred income at those dates. We have been unable to satisfy ourselves by alternative means concerning the cut off of work in progress and deferred income at those dates by using other audit procedures. Consequently, we were unable to determine whether any adjustment to this amount was necessary. As a result, we are unable to determine whether the turnover in the profit and loss show a true and fair view for the current and proceeding period show a true and fair view.

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 Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company 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 qualified opinion.

Matters required to report by exception

Arising solely from the limitation on the scope of our work relating to work in progress and deferred income, referred to above:

- we have not obtained all the information and explanations that we considered necessary for the

purpose of our audit; and

- we were unable to determine whether adequate accounting records have been kept.

Mark Spafford FCA FCCA (Senior Statutory Auditor)

for and on behalf of Luckmans Duckett Parker Limited

13.	OTHER FINANCIAL COMMITMENTS

At the balance sheet date the company had lease commitments totalling £3,008,448 (2024: £2,737,664).

14.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

2025

2024

£

£

M Nettleton

Balance outstanding at start of year

9,813

-

Amounts advanced

770

9,813

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

10,583

9,813

Interest has been charged on this balance at the HMRC Official rate during the year.

15.	RELATED PARTY DISCLOSURES

16.	ULTIMATE CONTROLLING PARTY

The company is a 100% owned subsidiary of PJA Group Holdings Limited