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REGISTERED NUMBER: 05434191 (England and Wales)












Unaudited Financial Statements

for the Year Ended 30 April 2022

for

Johns of Instow Ltd

Johns of Instow Ltd (Registered number: 05434191)

Contents of the Financial Statements
for the Year Ended 30 April 2022










Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


Johns of Instow Ltd

Company Information
for the Year Ended 30 April 2022







DIRECTORS: Mrs S J Johns
Mr A R Johns





SECRETARY: Mr A R Johns





REGISTERED OFFICE: 69 High Street
Bideford
Devon
EX39 2AT





REGISTERED NUMBER: 05434191 (England and Wales)





ACCOUNTANTS: R T Marke & Co Ltd
Chartered Accountants
69 High Street
Bideford
Devon
EX39 2AT

Johns of Instow Ltd (Registered number: 05434191)

Abridged Balance Sheet
30 April 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 5 - 16,000
Tangible assets 6 217,233 221,481
217,233 237,481

CURRENT ASSETS
Stocks 84,401 80,797
Debtors 22,860 21,018
Cash at bank and in hand 251,155 172,219
358,416 274,034
CREDITORS
Amounts falling due within one year 225,577 233,941
NET CURRENT ASSETS 132,839 40,093
TOTAL ASSETS LESS CURRENT
LIABILITIES

350,072

277,574

CREDITORS
Amounts falling due after more than one
year

(5,833

)

(15,833

)

PROVISIONS FOR LIABILITIES (36,891 ) (36,081 )
NET ASSETS 307,348 225,660

CAPITAL AND RESERVES
Called up share capital 9 100 100
Retained earnings 307,248 225,560
SHAREHOLDERS' FUNDS 307,348 225,660

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2022 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.

Johns of Instow Ltd (Registered number: 05434191)

Abridged Balance Sheet - continued
30 April 2022


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30 April 2022 in accordance with Section 444(2A) of the Companies Act 2006.

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 Board of Directors and authorised for issue on 12 September 2022 and were signed on its behalf by:




Mr A R Johns - Director



Mrs S J Johns - Director


Johns of Instow Ltd (Registered number: 05434191)

Notes to the Financial Statements
for the Year Ended 30 April 2022


1. STATUTORY INFORMATION

Johns of Instow Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. STATEMENT OF COMPLIANCE

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. There were no material departures from that standard.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

The principal accounting policies adopted in the preparation of the financial statements are set out below and remain unchanged from the previous period, and also have been consistently applied within the same accounts.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill representing the excess of the purchase price over the fair value of the net assets of undertakings acquired is capitalised in the balance sheet and is amortised by equal annual instalments over the expected useful economic life of either 10 or 3 years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% straight line
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended by management.

Government grants
Government grants in respect of capital expenditure are treated as deferred income and are credited to the profit and loss account over the estimated useful life of the assets to which they relate.

Government grants in respect of revenue items are credited to the profit and loss account when they are receivable.

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

Johns of Instow Ltd (Registered number: 05434191)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


3. ACCOUNTING POLICIES - continued

Financial instruments
Basic financial instruments with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs.

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.

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.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company makes contributions to a defined contribution scheme. Contributions payable to the pension scheme are charged to the profit and loss account in the period to which they relate.

Going concern
Having regard to the company's anticipated future revenues and costs including repayment of debt where appropriate, together with the expected availability of working capital, the directors consider that it is appropriate to prepare the financial statements on the going concern basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 46 (2021 - 40 ) .

Johns of Instow Ltd (Registered number: 05434191)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


5. INTANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2021
and 30 April 2022 190,427
AMORTISATION
At 1 May 2021 174,427
Amortisation for year 16,000
At 30 April 2022 190,427
NET BOOK VALUE

At 30 April 2022 -
At 30 April 2021 16,000

6. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1 May 2021 515,285
Additions 49,323
Disposals (46,766 )
At 30 April 2022 517,842
DEPRECIATION
At 1 May 2021 293,804
Charge for year 42,316
Eliminated on disposal (35,511 )
At 30 April 2022 300,609
NET BOOK VALUE
At 30 April 2022 217,233
At 30 April 2021 221,481


7. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2022 2021
£    £   
Net obligations repayable:
Within one year - 5,068

Johns of Instow Ltd (Registered number: 05434191)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


7. LEASING AGREEMENTS - continued

Non-cancellable operating leases
2022 2021
£    £   
Within one year 59,500 59,512
Between one and five years 184,000 224,500
In more than five years 38,000 57,000
281,500 341,012

8. SECURED DEBTS

The following secured debts are included within creditors:

2022 2021
£    £   
Hire purchase contracts - 5,068
Bank loans - 560
- 5,628

Bank loans and overdrafts are secured by fixed and floating charges over the company's assets.

The hire purchase contracts are secured over the assets to which they relate.

9. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

10. CAPITAL COMMITMENTS
2022 2021
£    £   
Contracted but not provided for in the
financial statements - 24,200

Johns of Instow Ltd (Registered number: 05434191)

Notes to the Financial Statements - continued
for the Year Ended 30 April 2022


11. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 April 2022 and 30 April 2021:

2022 2021
£    £   
Mr A R Johns and Mrs S J Johns
Balance outstanding at start of year - -
Amounts advanced 40,372 79,044
Amounts repaid (40,372 ) (79,044 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

The maximum overdrawn balance during the year was £32,904

Interest was charged on loans that exceeded £10,000 during the year at the official interest rate.