Company registration number 13204766 (England and Wales)
ALAN JOHNSTON PARTNERSHIP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
PAGES FOR FILING WITH REGISTRAR
ALAN JOHNSTON PARTNERSHIP LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 8
ALAN JOHNSTON PARTNERSHIP LIMITED
BALANCE SHEET
AS AT 31 MARCH 2023
31 March 2023
- 1 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
4
27,171
22,561
Current assets
Debtors
5
1,574,744
1,434,573
Cash at bank and in hand
549,892
532,598
2,124,636
1,967,171
Creditors: amounts falling due within one year
6
(615,738)
(684,776)
Net current assets
1,508,898
1,282,395
Total assets less current liabilities
1,536,069
1,304,956
Creditors: amounts falling due after more than one year
7
(600,000)
(600,000)
Provisions for liabilities
8
(3,843)
-
0
Net assets
932,226
704,956
Capital and reserves
Called up share capital
9
40,000
40,000
Profit and loss reserves
892,226
664,956
Total equity
932,226
704,956

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

ALAN JOHNSTON PARTNERSHIP LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2023
31 March 2023
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 18 October 2023 and are signed on its behalf by:
Mr J L  Smith
Director
Company Registration No. 13204766
ALAN JOHNSTON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023
- 3 -
1
Accounting policies
Company information

Alan Johnston Partnership Limited is a private company limited by shares incorporated in England and Wales. The registered office is 4th Floor, 1 Dale Street, Liverpool, L2 2ET.

1.1
Reporting period

When comparing the accounts for the year ended 31 March 2023 to the prior year, it should be considered that the prior year accounts cover a 13.5 month period to 31 March 2022.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover represents the invoice value of goods and services (excluding value added tax) provided in the period which are adjusted for movements in the level of amounts recoverable on contracts and classified as work done.

 

Contracts are assessed on a contract by contract basis and reflected in the profit and loss account by recording turnover and related costs as contract activity progresses. Work done is only recognised in the financial statements when there is a contractual right to consideration.

 

Work done is ascertained in a manner appropriate to the stage of completion of the contract and differences between the timing of work done and timing of sales invoices, which are issued on milestones specified in the contracts, give rise to accrued profit.

 

The amount by which turnover exceeds payments on account is classified as 'amounts recoverable on contracts' and included in debtors.

If, at the Balance sheet date, completion of contractual obligations is dependent on external factors, then revenue is recognised only when the event occurs. In such cases, costs incurred up to the Balance sheet date are carried forward as work in progress.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

ALAN JOHNSTON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(continued)
- 4 -

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Short Leasehold land and buildings
Straight line over six years
Fixtures and fittings
25% straight line
Computers
33.33% straight line

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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 debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

ALAN JOHNSTON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(continued)
- 5 -
Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

 

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

 

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

1.9
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.10
Taxation

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

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date 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 is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

 

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

ALAN JOHNSTON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
1
Accounting policies
(continued)
- 6 -
1.12
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.13
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
30
28
3
Taxation
2023
2022
£
£
Current tax
UK corporation tax on profits for the current period
118,079
157,218
Deferred tax
Origination and reversal of timing differences
3,843
-
0
Total tax charge
121,922
157,218
ALAN JOHNSTON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 7 -
4
Tangible fixed assets
Short Leasehold land and buildings
Fixtures and fittings
Computers
Total
£
£
£
£
Cost
At 1 April 2022
7,196
45,722
86,541
139,459
Additions
-
0
556
17,747
18,303
At 31 March 2023
7,196
46,278
104,288
157,762
Depreciation and impairment
At 1 April 2022
7,196
43,841
65,861
116,898
Depreciation charged in the year
-
0
88
13,605
13,693
At 31 March 2023
7,196
43,929
79,466
130,591
Carrying amount
At 31 March 2023
-
0
2,349
24,822
27,171
At 31 March 2022
-
0
1,881
20,680
22,561
5
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
1,204,097
1,116,875
Other debtors
370,647
317,698
1,574,744
1,434,573
6
Creditors: amounts falling due within one year
2023
2022
£
£
Trade creditors
87,696
69,606
Corporation tax
118,079
157,218
Other taxation and social security
188,551
160,905
Other creditors
221,412
297,047
615,738
684,776
7
Creditors: amounts falling due after more than one year
2023
2022
£
£
Other creditors
- Directors' loan accounts
600,000
600,000
ALAN JOHNSTON PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2023
- 8 -
8
Deferred taxation

The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:

Liabilities
Liabilities
2023
2022
Balances:
£
£
Accelerated capital allowances
3,843
-
2023
Movements in the year:
£
Liability at 1 April 2022
-
Charge to profit or loss
3,843
Liability at 31 March 2023
3,843
9
Called up share capital
2023
2022
2023
2022
Ordinary share capital
Number
Number
£
£
Issued and fully paid
of £1 each
40,000
40,000
40,000
40,000

During the previous period, the company issued 40,000 £1 ordinary shares at par to create the capital base of the company.

10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
Within one year
11,125
20,515
Between two and five years
-
0
7,934
11,125
28,449
2023-03-312022-04-01false18 October 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityMr P C BryanMr K O'BrienMr D J SinclairMr J L Smith132047662022-04-012023-03-31132047662023-03-31132047662022-03-3113204766core:LandBuildingscore:LeasedAssetsHeldAsLessee2023-03-3113204766core:FurnitureFittings2023-03-3113204766core:ComputerEquipment2023-03-3113204766core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-03-3113204766core:FurnitureFittings2022-03-3113204766core:ComputerEquipment2022-03-3113204766core:CurrentFinancialInstrumentscore:WithinOneYear2023-03-3113204766core:CurrentFinancialInstrumentscore:WithinOneYear2022-03-3113204766core:Non-currentFinancialInstrumentscore:AfterOneYear2023-03-3113204766core:Non-currentFinancialInstrumentscore:AfterOneYear2022-03-3113204766core:CurrentFinancialInstruments2023-03-3113204766core:CurrentFinancialInstruments2022-03-3113204766core:ShareCapital2023-03-3113204766core:ShareCapital2022-03-3113204766core:RetainedEarningsAccumulatedLosses2023-03-3113204766core:RetainedEarningsAccumulatedLosses2022-03-3113204766bus:Director42022-04-012023-03-3113204766core:LandBuildingscore:LongLeaseholdAssets2022-04-012023-03-3113204766core:FurnitureFittings2022-04-012023-03-3113204766core:ComputerEquipment2022-04-012023-03-31132047662021-02-162022-03-3113204766core:UKTax2022-04-012023-03-3113204766core:UKTax2021-02-162022-03-3113204766core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-03-3113204766core:FurnitureFittings2022-03-3113204766core:ComputerEquipment2022-03-31132047662022-03-3113204766core:LandBuildingscore:LeasedAssetsHeldAsLessee2022-04-012023-03-3113204766core:WithinOneYear2023-03-3113204766core:WithinOneYear2022-03-3113204766core:Non-currentFinancialInstruments2023-03-3113204766core:Non-currentFinancialInstruments2022-03-3113204766core:BetweenTwoFiveYears2023-03-3113204766core:BetweenTwoFiveYears2022-03-3113204766bus:PrivateLimitedCompanyLtd2022-04-012023-03-3113204766bus:SmallCompaniesRegimeForAccounts2022-04-012023-03-3113204766bus:FRS1022022-04-012023-03-3113204766bus:AuditExemptWithAccountantsReport2022-04-012023-03-3113204766bus:Director12022-04-012023-03-3113204766bus:Director22022-04-012023-03-3113204766bus:Director32022-04-012023-03-3113204766bus:FullAccounts2022-04-012023-03-31xbrli:purexbrli:sharesiso4217:GBP