Company No: 00802764 (England and Wales)

Contents

• Statement of Financial Position
• Notes to the Financial Statements

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	3	188,991		200,081
Investments	4	12,679		12,679
		201,670		212,760
Current assets
Stocks		88,734		55,030
Debtors	5	1,901		18,819
Cash at bank and in hand		2,154		4,116
		92,789		77,965
Creditors: amounts falling due within one year	6	( 158,112)		( 184,884)
Net current liabilities		(65,323)		(106,919)
Total assets less current liabilities		136,347		105,841
Creditors: amounts falling due after more than one year	7	( 350,521)		( 350,521)
Net liabilities		( 214,174)		( 244,680)
Capital and reserves
Called-up share capital	8	1,100		1,100
Profit and loss account		( 215,274 )		( 245,780 )
Total shareholders' deficit		( 214,174)		( 244,680)

For the financial year ending 30 April 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Statement of Income and Retained Earnings has not been delivered.

The financial statements of J.I.H. Jones & Son(Erwgilfach)Limited (registered number: 00802764) were approved and authorised for issue by the Director on 14 January 2026. They were signed on its behalf by:

Mr G J Jones Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

J.I.H. Jones & Son(Erwgilfach)Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Erwgilfach Farm, Builth Wells, Powys, LD2 3LB, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net liabilities of £214,174. The Company is supported through loans from the director. The director has confirmed that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the director will continue to support the Company. Given the current position, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.

Tangible fixed assets

All non livestock fixed assets are initially recorded at cost.

Livestock fixed assets comprise of the herd and the flock. Movements in the herd and flock are dealt with in accordance with the farming industry conventions as follows:

• Additions of mature animals purchased are recorded at cost.
• Additions consisting of transfers from stock are recorded at cost of purchase or; if breeding and keeping to maturity the deemed cost of 60% or 75% of market value for additions to the herd and flock respectively is used.
• Disposals are recorded at average value.

Depreciation is not applied to the herd or flock.

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following bases:

Land and buildings	not depreciated
Leasehold improvements	15 years straight line
Plant and machinery	15 % reducing balance
Vehicles	15 % reducing balance
Other property, plant and equipment	not depreciated

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in the Statement of income and retained earnings.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Stocks

Stock is valued at the lower of cost and net realisable value. The normal farming industry accounting conventions have been followed and the resulting figures are considered to represent the cost incurred in bringing each animal to its present location and condition. Raw materials and consumables are valued on purchase costs on a first in, first out basis.

Livestock cattle are valued at 60% of market value and sheep at 75% of market value where they have been reared from young. Mature animals purchased are valued at the lower of cost and market value.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Trade and other creditors

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

Investments
Investments in non-convertible preference shares and non-puttable ordinary or preference shares (where shares are publicly traded or their fair value is reliably measurable) are measured at fair value through the Statement of Income and Retained Earnings. Where fair value cannot be measured reliably, investments are measured at cost less impairment.

Government grants

Government grants are recognised based on the accrual model and are measured at the fair value of the asset received or receivable. Grants are classified as relating either to revenue or to assets. Grants relating to revenue are recognised in income over the period in which the related costs are recognised. Grants relating to assets are recognised over the expected useful life of the asset. Where part of a grant relating to an asset is deferred, it is recognised as deferred income.

Ordinary share capital

The ordinary share capital of the Company is presented as equity.

2. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including the director	2		2

3. Tangible assets

	Land and buildings		Leasehold improve- ments		Plant and machinery		Vehicles		Other property, plant and equipment		Total
	£		£		£		£		£		£
Cost
At 01 May 2024	129,228		116,453		69,731		41,614		63,362		420,388
Revaluations	0		0		0		0		( 9,914)		( 9,914)
At 30 April 2025	129,228		116,453		69,731		41,614		53,448		410,474
Accumulated depreciation
At 01 May 2024	0		111,582		67,680		41,045		0		220,307
Charge for the financial year	0		783		308		85		0		1,176
At 30 April 2025	0		112,365		67,988		41,130		0		221,483
Net book value
At 30 April 2025	129,228		4,088		1,743		484		53,448		188,991
At 30 April 2024	129,228		4,871		2,051		569		63,362		200,081

4. Fixed asset investments

	Other investments		Total
	£		£
Cost or valuation before impairment
At 01 May 2024	12,679		12,679
Additions	435		435
Disposals	( 435)		( 435)
At 30 April 2025	12,679		12,679
Carrying value at 30 April 2025	12,679		12,679
Carrying value at 30 April 2024	12,679		12,679

Investments comprise of share account balances with mutual trading companies.

5. Debtors

	2025		2024
	£		£
Trade debtors	0		17,000
Prepayments and accrued income	628		823
VAT recoverable	1,273		996
	1,901		18,819

6. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	69,339		92,527
Amounts owed to director	42,042		49,650
Accruals	3,351		2,786
Other creditors	43,380		39,921
	158,112		184,884

There are no amounts included above in respect of which any security has been given by the small entity.

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

	2025		2024
	£		£
Amounts owed to director	232,340		232,340
Other creditors	118,181		118,181
	350,521		350,521

There are no amounts included above in respect of which any security has been given by the small entity.

8. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1,100 Ordinary shares of £ 1.00 each	1,100		1,100

9. Related party transactions

At the year end, the director was owed £274,382 (2024: £281,990) by the Company. This loan is interest free with no fixed date for repayment.

At the year end, a shareholder was owed £161,561 (2024: £158,102) by the Company. This amount is included in other creditors. This loan is interest free with no fixed date for repayment.