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Company Registration No. 05288587 (England and Wales)
J D Johnson Limited Unaudited accounts for the year ended 28 February 2023
J D Johnson Limited Unaudited accounts Contents
Page
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J D Johnson Limited Company Information for the year ended 28 February 2023
Directors
J D Johnson P Johnson
Company Number
05288587 (England and Wales)
Registered Office
Low Farm, Rea Lane Welton le Marsh Spilsby Lincolnshire PE23 5TA
Accountants
WatsonCo Chartered Accountants Croft House Farm Croft Marsh Lane Croft Lincolnshire PE24 4AR
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of J D Johnson Limited for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of J D Johnson Limited for the year ended 28 February 2023 as set out on pages 5 - 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of J D Johnson Limited, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of J D Johnson Limited and state those matters that we have agreed to state to the Board of Directors of J D Johnson Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J D Johnson Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that J D Johnson Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of J D Johnson Limited. You consider that J D Johnson Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of J D Johnson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
WatsonCo Chartered Accountants Chartered Accountants Croft House Farm Croft Marsh Lane Croft Lincolnshire PE24 4AR 3 November 2023
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J D Johnson Limited Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
199,733 
478,327 
Current assets
Inventories
35,828 
17,589 
Debtors
384,068 
4,753 
Cash at bank and in hand
98,453 
107,231 
518,349 
129,573 
Creditors: amounts falling due within one year
(393,348)
(491,518)
Net current assets/(liabilities)
125,001 
(361,945)
Total assets less current liabilities
324,734 
116,382 
Creditors: amounts falling due after more than one year
(242,333)
(288,978)
Net assets/(liabilities)
82,401 
(172,596)
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
82,301 
(172,696)
Shareholders' funds
82,401 
(172,596)
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 3 November 2023 and were signed on its behalf by
J D Johnson Director Company Registration No. 05288587
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J D Johnson Limited Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
J D Johnson Limited is a private company, limited by shares, registered in England and Wales, registration number 05288587. The registered office is Low Farm, Rea Lane, Welton le Marsh, Spilsby, Lincolnshire, PE23 5TA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% reducing balance
Plant & machinery
15% reducing balance or straight line over 25 years
Motor vehicles
25% reducing balance
Computer equipment
20% reducing balance
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
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J D Johnson Limited Notes to the Accounts for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill 
Other 
Total 
£ 
£ 
£ 
Cost
At 1 March 2022
84,000 
35,000 
119,000 
At 28 February 2023
84,000 
35,000 
119,000 
Amortisation
At 1 March 2022
84,000 
35,000 
119,000 
At 28 February 2023
84,000 
35,000 
119,000 
Net book value
At 28 February 2023
- 
- 
- 
5
Tangible fixed assets
Land & buildings 
Plant & machinery 
Motor vehicles 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2022
285,869 
422,019 
- 
1,083 
708,971 
Additions
- 
118,500 
6,500 
- 
125,000 
Disposals
(88,410)
(346,639)
- 
- 
(435,049)
At 28 February 2023
197,459 
193,880 
6,500 
1,083 
398,922 
Depreciation
At 1 March 2022
128,316 
101,878 
- 
450 
230,644 
Charge for the year
3,457 
22,706 
1,625 
127 
27,915 
On disposals
- 
(59,370)
- 
- 
(59,370)
At 28 February 2023
131,773 
65,214 
1,625 
577 
199,189 
Net book value
At 28 February 2023
65,686 
128,666 
4,875 
506 
199,733 
At 28 February 2022
157,553 
320,141 
- 
633 
478,327 
2023 
2022 
Carrying values included above held under finance leases and hire purchase contracts:
£ 
£ 
- Plant & machinery
73,485 
86,789 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
9,716 
- 
Trade debtors
94 
4,753 
Amounts due from group undertakings etc.
359,394 
- 
Accrued income and prepayments
14,864 
- 
384,068 
4,753 
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J D Johnson Limited Notes to the Accounts for the year ended 28 February 2023
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
13,545 
12,832 
Obligations under finance leases and hire purchase contracts
21,417 
5,788 
Trade creditors
30,114 
127,575 
Taxes and social security
- 
800 
Other creditors
- 
4,367 
Loans from directors
326,414 
339,167 
Accruals
1,858 
989 
393,348 
491,518 
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
242,333 
256,591 
Obligations under finance leases and hire purchase contracts
- 
32,387 
242,333 
288,978 
9
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100 
100 
10
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
J D Johnson
(254,294)
41,477 
18,454 
(231,271)
P Johnson
(84,873)
30,040 
40,310 
(95,143)
(339,167)
71,517 
58,764 
(326,414)
11
Transactions with related parties
During the year, £359,394 was loaned to JD Johnson Investments Ltd, a company owned by Mr J D Johnson. At the year end, the balance outstanding was £359,394 (2002: £nil).
12
Average number of employees
During the year the average number of employees was 3 (2022: 3).
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