REGISTERED NUMBER: 03212967 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2018

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

Chartered Accountants

Beckside Court

Annie Reed Road

Beverley

East Yorkshire

HU17 0LF

FIXED ASSETS

Intangible assets

4

5,750

8,750

Tangible assets

5

155,027

101,517

160,777

110,267

CURRENT ASSETS

Stocks

574,823

540,412

Debtors

6

1,953,888

1,873,992

Cash in hand

300

300

2,529,011

2,414,704

CREDITORS

Amounts falling due within one year

7

1,294,181

1,294,161

NET CURRENT ASSETS

1,234,830

1,120,543

TOTAL ASSETS LESS CURRENT LIABILITIES

1,395,607

1,230,810

CREDITORS

Amounts falling due after more than one year

8

(63,140

)

(44,534

)

PROVISIONS FOR LIABILITIES

(22,219

)

(12,147

)

NET ASSETS

1,310,248

1,174,129

CAPITAL AND RESERVES

Called up share capital

60,002

60,002

Retained earnings

1,250,246

1,114,127

SHAREHOLDERS' FUNDS

1,310,248

1,174,129

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2018 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 25 October 2018 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 presentational currency of the financial statements is Pound Sterling (£).

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.

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.

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

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 a reducing balance basis 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

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 18 (2017 - 24 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2017

and 31 March 2018

60,000

AMORTISATION

At 1 April 2017

51,250

Charge for year

3,000

At 31 March 2018

54,250

NET BOOK VALUE

At 31 March 2018

5,750

At 31 March 2017

8,750

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2017

34,863

252,876

287,739

Additions

20,821

101,966

122,787

Disposals

-

(62,925

)

(62,925

)

At 31 March 2018

55,684

291,917

347,601

DEPRECIATION

At 1 April 2017

25,885

160,338

186,223

Charge for year

2,996

24,133

27,129

Eliminated on disposal

-

(20,778

)

(20,778

)

At 31 March 2018

28,881

163,693

192,574

NET BOOK VALUE

At 31 March 2018

26,803

128,224

155,027

At 31 March 2017

8,978

92,538

101,516

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

Plant and

machinery

etc

£

COST

At 1 April 2017

61,365

Additions

78,974

Disposals

(61,365

)

At 31 March 2018

78,974

DEPRECIATION

At 1 April 2017

20,178

Charge for year

6,964

Eliminated on disposal

(20,178

)

At 31 March 2018

6,964

NET BOOK VALUE

At 31 March 2018

72,010

At 31 March 2017

41,187

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

701,453

681,445

Amounts owed by group undertakings

1,212,479

1,140,258

Amounts owed by related parties

20,133

23,200

Other debtors

19,823

29,089

1,953,888

1,873,992

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Bank loans and overdrafts

31,117

2,740

Hire purchase contracts

18,262

15,911

Trade creditors

673,101

653,328

Taxation and social security

102,349

94,436

Other creditors

469,352

527,746

1,294,181

1,294,161

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2018

2017

£

£

Hire purchase contracts

63,140

44,534

9.	SECURED DEBTS

The following secured debts are included within creditors:

2018

2017

£

£

Bank overdrafts

31,117

2,740

Hire purchase contracts

81,402

60,445

Other creditors

439,376

505,520

551,895

568,705

The bank overdraft 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.

10.	RELATED PARTY DISCLOSURES

The company has paid a dividend to it's parent company during the year amounting to £50,000 (2017 £52,000).

Included in Debtors due within one year is an amount due from the company's parent company amounting to £1,212,479

(2017 £1,140.258).

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.