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
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
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
J D Johnson Limited
Statement of financial position
as at 28 February 2023
Tangible assets
199,733
478,327
Cash at bank and in hand
98,453
107,231
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)
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
J D Johnson Limited
Notes to the Accounts
for the year ended 28 February 2023
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
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 (including purchased goodwill and patents) are included at cost less accumulated amortisation.
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.
J D Johnson Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Intangible fixed assets
Goodwill
Other
Total
At 1 March 2022
84,000
35,000
119,000
At 28 February 2023
84,000
35,000
119,000
At 1 March 2022
84,000
35,000
119,000
At 28 February 2023
84,000
35,000
119,000
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
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
At 28 February 2023
65,686
128,666
4,875
506
199,733
At 28 February 2022
157,553
320,141
-
633
478,327
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
73,485
86,789
Amounts falling due within one year
Amounts due from group undertakings etc.
359,394
-
Accrued income and prepayments
14,864
-
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
Loans from directors
326,414
339,167
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
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
(254,294)
41,477
18,454
(231,271)
(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).