REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2022 |
|
FOR |
|
AA JONES ELECTRIC LIMITED |
REGISTERED NUMBER:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
UNAUDITED FINANCIAL STATEMENTS |
|
FOR THE YEAR ENDED 31 MARCH 2022 |
|
FOR |
|
AA JONES ELECTRIC LIMITED |
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
CONTENTS OF THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
|
|
|
|
|
|
|
|
|
|
Page |
|
Company Information | 1 |
|
Balance Sheet | 2 |
|
Notes to the Financial Statements | 4 |
|
AA JONES ELECTRIC LIMITED |
|
COMPANY INFORMATION |
for the Year Ended 31 March 2022 |
|
|
|
|
|
|
|
DIRECTORS: |
|
|
|
|
|
|
|
|
|
REGISTERED OFFICE: |
|
|
|
|
|
|
|
|
|
REGISTERED NUMBER: |
|
|
|
|
|
|
ACCOUNTANTS: |
|
Chartered Accountants |
Beckside Court |
Annie Reed Road |
Beverley |
East Yorkshire |
HU17 0LF |
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
BALANCE SHEET |
31 March 2022 |
|
2022 | 2021 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Intangible assets | 4 |
|
|
Tangible assets | 5 |
|
|
|
|
|
CURRENT ASSETS |
Stocks |
|
|
Debtors | 6 |
|
|
Cash at bank and in hand |
|
|
|
|
CREDITORS |
Amounts falling due within one year | 7 |
|
|
NET CURRENT ASSETS |
|
|
TOTAL ASSETS LESS CURRENT
LIABILITIES |
|
|
|
CREDITORS |
Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
|
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
|
|
|
CAPITAL AND RESERVES |
Called up share capital |
|
|
Retained earnings |
|
|
SHAREHOLDERS' FUNDS |
|
|
|
|
|
|
|
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. |
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
BALANCE SHEET - continued |
31 March 2022 |
|
|
|
|
|
|
The financial statements were approved by the Board of Directors and authorised for issue on
|
|
|
|
|
|
|
|
|
|
|
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
NOTES TO THE FINANCIAL STATEMENTS |
for the Year Ended 31 March 2022 |
|
|
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 |
|
|
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. |
|
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. |
|
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 is 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 |
|
Land and buildings | - |
|
Plant and machinery etc | - |
|
|
Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
|
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
|
|
2. | ACCOUNTING POLICIES - continued |
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. |
|
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
|
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
|
|
4. | INTANGIBLE FIXED ASSETS |
Goodwill |
£ |
COST |
At 1 April 2021 |
|
Additions |
|
At 31 March 2022 |
|
AMORTISATION |
At 1 April 2021 |
|
Charge for year |
|
At 31 March 2022 |
|
NET BOOK VALUE |
At 31 March 2022 |
|
At 31 March 2021 |
|
|
5. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST |
At 1 April 2021 |
|
|
|
Additions |
|
|
|
Disposals |
|
( |
) | ( |
) |
At 31 March 2022 |
|
|
|
DEPRECIATION |
At 1 April 2021 |
|
|
|
Charge for year |
|
|
|
Eliminated on disposal |
|
( |
) | ( |
) |
At 31 March 2022 |
|
|
|
NET BOOK VALUE |
At 31 March 2022 |
|
|
|
At 31 March 2021 |
|
|
|
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
|
|
5. | TANGIBLE FIXED ASSETS - continued |
|
Fixed assets, included in the above, which are held under hire purchase contracts are as follows: |
|
Plant and |
machinery |
etc |
£ |
COST |
At 1 April 2021 |
|
Additions |
|
Disposals | ( |
) |
At 31 March 2022 |
|
DEPRECIATION |
At 1 April 2021 |
|
Charge for year |
|
Eliminated on disposal | ( |
) |
At 31 March 2022 |
|
NET BOOK VALUE |
At 31 March 2022 |
|
At 31 March 2021 |
|
|
6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Trade debtors |
|
|
Amounts owed by group undertakings |
|
|
Amounts owed by related parties | 97,136 | 14,588 |
Other debtors |
|
|
|
|
|
The amount owed by group undertakings is in respect of amounts due from the parent company. The balance does not attract interest and although strictly repayable on demand, £1,014,515 (2021: £1,014,515) will not be repaid within 12 months. |
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
|
|
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans and overdrafts |
|
|
Hire purchase contracts |
|
|
Trade creditors |
|
|
Taxation and social security |
|
|
Other creditors |
|
|
|
|
|
8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2022 | 2021 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts |
|
|
|
|
|
Amounts falling due in more than five years: |
|
Repayable by instalments |
Bank loans more 5 yr by instal | 80,156 | - |
|
9. | SECURED DEBTS |
|
The following secured debts are included within creditors: |
|
2022 | 2021 |
£ | £ |
Bank loans |
|
|
Hire purchase contracts | 73,007 | 70,844 |
Other creditors | - | 125,109 |
|
|
|
The bank overdraft,loans and other creditors are secured by a fixed and floating charge of the company's assets.Hire purchase borrowings are secured on the assets to which they relate. |
|
During the previous year the company had secured a loan of £300,000 through the government supported CBILS scheme. |
The loan carries interest at 2.71% above base and was interest free for the first 12 months. The loan is repayable over 5 years commencing in July 2021. |
|
During the year the company has secured a bank loan of £168,750.. |
The loan carries interest at 3.15% above base. The loan is repayable over 10 years commencing in January 2022.. |
AA JONES ELECTRIC LIMITED (REGISTERED NUMBER: 03212967) |
|
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the Year Ended 31 March 2022 |
|
|
10. | RELATED PARTY DISCLOSURES |
|
The company has paid a dividend to it's parent company during the year amounting to £207,000 (2021 £142,000). |
Included in Debtors due within one year is an amount due from the company's parent company amounting to £1,702,163 (2021 £1,681,205). |
|
11. | ULTIMATE CONTROLLING PARTY |
|
The ultimate parent company is Alphase UK Limited which has the same registered address and principle place of business as AA Jones Electric Limited. |