REGISTERED NUMBER: 03212967 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

FOR

AA JONES ELECTRIC LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

I Wayman

A O Moore

N D Jennings

A Moulds

REGISTERED OFFICE:

Unit H, Venture Business Park

Witty Street

Hull

HU3 4TT

REGISTERED NUMBER:

03212967 (England and Wales)

ACCOUNTANTS:

Sowerby FRS LLP

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Intangible assets

4

11,750

14,750

Tangible assets

5

98,435

45,460

110,185

60,210

CURRENT ASSETS

Stocks

575,896

586,545

Debtors

6

1,923,285

1,634,399

Cash at bank and in hand

300

309

2,499,481

2,221,253

CREDITORS

Amounts falling due within one year

7

1,408,375

1,216,580

NET CURRENT ASSETS

1,091,106

1,004,673

TOTAL ASSETS LESS CURRENT LIABILITIES

1,201,291

1,064,883

CREDITORS

Amounts falling due after more than one year

8

(45,788

)

(10,663

)

PROVISIONS FOR LIABILITIES

(15,302

)

(2,251

)

NET ASSETS

1,140,201

1,051,969

CAPITAL AND RESERVES

Called up share capital

60,002

60,002

Retained earnings

1,080,199

991,967

SHAREHOLDERS' FUNDS

1,140,201

1,051,969

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2016 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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 on 24 July 2016 and were signed on its behalf by:

A O Moore - Director

I Wayman - Director

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 ultimate parent company is Alphase UK Limited which has the same registered address and principle place

of business as AA Jones Electric Limited.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

This is the first year in which the financial statements have been prepared under FRS102.

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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Land and buildings

-

over the period of the lease

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and 15% on reducing balance

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow

moving items.

Taxation

The tax expense represents the sum of the corporation tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in

the statement of comprehensive income because of items of income or expense that are taxable or deductible in

other years and items that are never taxable or deductible. The Company's liability for the current tax is

calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the

financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax

liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised

for all deductible temporary differences to the extent that it is probable that taxable profits will be available

against which those deductible timing differences can be utilised. The carrying amount of deferred tax is

reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient

taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which

the liability is settled or the asset realised, based on the tax rates (and tax laws) that have been enacted or

substantively enacted by the end of the reporting period.

Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are

recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is

also recognised in other comprehensive income or directly in equity respectively.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 19 .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2015

and 31 March 2016

60,000

AMORTISATION

At 1 April 2015

45,250

Charge for year

3,000

At 31 March 2016

48,250

NET BOOK VALUE

At 31 March 2016

11,750

At 31 March 2015

14,750

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2015

25,118

171,040

196,158

Additions

1,840

83,115

84,955

Disposals

-

(29,113

)

(29,113

)

At 31 March 2016

26,958

225,042

252,000

DEPRECIATION

At 1 April 2015

23,679

127,019

150,698

Charge for year

1,746

17,429

19,175

Eliminated on disposal

-

(16,308

)

(16,308

)

At 31 March 2016

25,425

128,140

153,565

NET BOOK VALUE

At 31 March 2016

1,533

96,902

98,435

At 31 March 2015

1,439

44,021

45,460

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

Plant and

machinery

etc

£

COST

At 1 April 2015

18,451

Additions

61,365

Disposals

(18,451

)

At 31 March 2016

61,365

DEPRECIATION

At 1 April 2015

4,997

Charge for year

6,519

Eliminated on disposal

(6,679

)

At 31 March 2016

4,837

NET BOOK VALUE

At 31 March 2016

56,528

At 31 March 2015

13,454

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Trade debtors

756,423

601,903

Amounts owed by group undertakings

1,121,986

996,587

Amounts owed by related parties

28,222

16,057

Other debtors

16,654

19,852

1,923,285

1,634,399

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2016

2015

£

£

Bank loans and overdrafts

17,212

26,197

Hire purchase contracts

10,480

2,514

Trade creditors

718,605

558,664

Taxation and social security

99,506

133,560

Other creditors

562,572

495,645

1,408,375

1,216,580

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2016

2015

£

£

Hire purchase contracts

45,788

10,663

9.	SECURED DEBTS

The following secured debts are included within creditors:

2016

2015

£

£

Bank overdrafts

17,212

26,197

Hire purchase contracts

56,268

13,177

Other creditors

-

469,616

73,480

508,990