REGISTERED NUMBER: 05683647 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED

28TH FEBRUARY 2025

FOR

P.W.JONES (HEREFORD) LIMITED

Page

Company information

1

Balance sheet

2

Notes to the financial statements

4

Director:

P W Jones

Secretary:

Mrs J M Jones

Registered office:

Hilbrey Garage

Burley Gate

Hereford

HR1 3QL

Registered number:

05683647 (England and Wales)

Fixed assets

Intangible assets

4

-

-

Tangible assets

5

72,547

30,649

72,547

30,649

Current assets

Stocks

6

155,871

148,291

Debtors

7

16,145

55,394

Cash in hand

327

52

172,343

203,737

Creditors

Amounts falling due within one year

8

192,395

179,434

Net current (liabilities)/assets

(20,052

)

24,303

Total assets less current liabilities

52,495

54,952

Provisions for liabilities

10

1,100

1,400

Net assets

51,395

53,552

Capital and reserves

Called up share capital

11

1,000

1,000

Retained earnings

50,395

52,552

Shareholders' funds

51,395

53,552

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28th February 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 28th February 2025 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 11th November 2025 and were signed by:

P W Jones - Director

1.	Statutory information

P.W.Jones (Hereford) 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.

Turnover

The turnover, all of which arises in the U.K, represents net invoiced sales, excluding value added tax.

Tangible fixed assets

Tangible fixed assets are stated in the Balance Sheet at cost less depreciation.

Depreciation is provided at the following rates on the straight line method in order to write off each asset over its estimated useful life:

Leasehold improvements

10%

Motor vehicles

25%

Plant & equipment

15%

Stock

Stock has been valued by the directors at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Pension costs & 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.

Financial instruments

The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's statement of financial position when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables and cash and bank balances, are measured at transaction price less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Other financial assets

Other financial assets, including investments in equity instruments which are not subsidiaries, associates or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except that investments in equity instruments that are not publicly traded and whose fair values cannot be measured reliably are measured at the cost less impairment.

Impairment of financial assets

Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting date.

Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the assets original effective interest rate. The impairment loss is recognised in profit or loss.

If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

Derecognition of financial assets

Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the group transfers the financial asset and substantially all of the risks and rewards of the ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities

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 group after deducing all of its liabilities.

Basic financial liabilities, including trade and other payables are measured at the transaction price. Other financial liabilities, including bank loans, loans from fellow group companies and preference shares that are classified as debt, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Other financial liabilities

Derivatives, including interest rate swaps and forward foreign exchange contracts, are not basic financial instruments. Derivatives are initially recognised at fair value on the date a derivative contract is entered into and are subsequently re-measured at their fair value. Changes in the fair value of derivatives are recognised in profit or loss in finance costs or finance income as appropriate, unless hedge accounting is applied and the hedge is a cash flow hedge.

Derecognition of financial liabilities

Financial liabilities are derecognised when the group's contractual obligations expire or are discharged or cancelled.

3.	Employees (including officers)

The average number of employees during the year was 3 (2024 - 3 ) .

4.	Intangible fixed assets

Goodwill

£

Cost

At 1st March 2024

and 28th February 2025

300,000

Amortisation

At 1st March 2024

and 28th February 2025

300,000

Net book value

At 28th February 2025

-

At 29th February 2024

-

5.	Tangible fixed assets

Leasehold

Plant &

Motor

improvements

equipment

vehicles

Totals

£

£

£

£

Cost

At 1st March 2024

22,845

49,909

6,248

79,002

Additions

45,970

2,897

-

48,867

At 28th February 2025

68,815

52,806

6,248

127,869

Depreciation

At 1st March 2024

4,719

40,510

3,124

48,353

Charge for year

2,014

3,393

1,562

6,969

At 28th February 2025

6,733

43,903

4,686

55,322

Net book value

At 28th February 2025

62,082

8,903

1,562

72,547

At 29th February 2024

18,126

9,399

3,124

30,649

6.

Stocks

28.2.25

29.2.24

£

£

Stocks

155,871

148,291

7.

Debtors: amounts falling due within one year

28.2.25

29.2.24

£

£

Trade debtors

9,610

17,753

Other debtors

1,287

5,822

Director's loan account

-

26,571

S455

5,248

5,248

16,145

55,394

8.

Creditors: amounts falling due within one year

28.2.25

29.2.24

£

£

Bank overdraft

151,008

143,754

Trade creditors

24,590

6,560

Corporation tax

3,400

6,300

Social security & other taxes

7,673

10,712

Other creditors & accruals

4,678

12,108

Director's loan account

1,046

-

192,395

179,434

9.	Secured debts

The following secured debts are included within creditors:

28.2.25

29.2.24

£

£

Bank overdrafts

151,008

143,754

The bank overdraft is secured by a personal guarantee of the director.

10.	Provisions for liabilities

28.2.25

29.2.24

£

£

Deferred tax

1,100

1,400

Deferred tax

£

Balance at 1st March 2024

1,400

Utilised during year

(300

)

Balance at 28th February 2025

1,100

11.	Called up share capital

Allotted, issued and fully paid:

Number:

Class:

Nominal

28.2.25

29.2.24

value:

£

£

1,000

Ordinary shares

£1

1,000

1,000

12.	Contingent liabilities & lease commitments

There were no contingent liabilities or lease commitments at 28th February 2025.

13.	Director's advances, credits and guarantees

During the year, the director used a current account with the company to record amounts due to him and amounts drawn by him. Loans and advances totalling £35,932 and repayments totalling £62,503 were made. The balance at the year end was £1,046 owed by the company (2024: £26,571 owed to the company).

The loans and advances were made interest free and were repayable on demand.

14.	Related party disclosures

The company has use of business premises owned by the Director. No rent is chargeable to the company for the use of the property.