1 March 2022 v2023.27.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activityfalsetruexbrli:purexbrli:sharesiso4217:GBP088814952022-03-012023-02-28088814952023-02-28088814952022-02-2808881495core:WithinOneYear2023-02-2808881495core:WithinOneYear2022-02-2808881495core:AfterOneYear2023-02-2808881495core:AfterOneYear2022-02-2808881495core:ShareCapital2023-02-2808881495core:ShareCapital2022-02-2808881495core:RetainedEarningsAccumulatedLosses2023-02-2808881495core:RetainedEarningsAccumulatedLosses2022-02-2808881495bus:Director12022-03-012023-02-2808881495bus:RegisteredOffice2022-03-012023-02-2808881495core:NetGoodwill2022-03-012023-02-2808881495core:Goodwill2022-03-012023-02-2808881495core:MotorVehicles2022-03-012023-02-2808881495core:OfficeEquipment2022-03-012023-02-2808881495core:PlantMachinery2022-03-012023-02-28088814952021-03-012022-02-2808881495core:NetGoodwill2023-02-2808881495core:NetGoodwill2022-03-0108881495core:NetGoodwill2022-02-2808881495core:LandBuildings2022-03-0108881495core:PlantMachinery2022-03-01088814952022-03-0108881495core:LandBuildings2023-02-2808881495core:PlantMachinery2023-02-2808881495core:LandBuildings2022-03-012023-02-2808881495core:LandBuildings2022-02-2808881495core:PlantMachinery2022-02-280888149512022-03-012023-02-2808881495countries:EnglandWales2022-03-012023-02-2808881495bus:AuditExemptWithAccountantsReport2022-03-012023-02-2808881495bus:PrivateLimitedCompanyLtd2022-03-012023-02-2808881495bus:SmallEntities2022-03-012023-02-2808881495bus:FullAccounts2022-03-012023-02-28
Company registration number:
08881495
Johnston Accountants Limited
Unaudited Filleted Financial Statements for the year ended
28 February 2023
Johnston Accountants Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Johnston Accountants Limited
Year ended
28 February 2023
As described on the statement of financial position, the Board of Directors of
Johnston Accountants Limited
are responsible for the preparation of the
financial statements
for the year ended
28 February 2023
, which comprise the income statement, statement of financial position and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to us.
Johnston Accountants Limited
36 Ashdene Road
Ash
Guildford
Surrey
GU12 6SZ
United Kingdom
Date:
24 November 2023
Johnston Accountants Limited
Statement of Financial Position
28 February 2023
20232022
Note££
Fixed assets    
Intangible assets 5
9,535
 
10,171
 
Tangible assets 6
87,835
 
108,539
 
97,370
 
118,710
 
Current assets    
Debtors 7
16,238
 
5,615
 
Cash at bank and in hand
128,029
 
167,872
 
144,267
 
173,487
 
Creditors: amounts falling due within one year 8
(23,626
)
(61,239
)
Net current assets
120,641
 
112,248
 
Total assets less current liabilities 218,011   230,958  
Creditors: amounts falling due after more than one year 9
(23,786
)
(32,074
)
Net assets
194,225
 
198,884
 
Capital and reserves    
Called up share capital
1
 
1
 
Profit and loss account
194,224
 
198,883
 
Shareholders funds
194,225
 
198,884
 
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.
Director's responsibilities:
  • 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;
  • The director acknowledges their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These
financial statements
have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies’ regime.
In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered.
These
financial statements
were approved by the board of directors and authorised for issue on
24 November 2023
, and are signed on behalf of the board by:
N Johnston
Director
Company registration number:
08881495
Johnston Accountants Limited
Notes to the Financial Statements
Year ended
28 February 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
36 Ashdene Road
,
Ash
,
Aldershot
,
Surrey
,
GU12 6SZ
, England.

2 Statement of compliance

These
financial statements
have been prepared in compliance with FRS 102 Section 1A, 'The Financial Reporting Standard applicable to the UK and Republic of Ireland'.

3 Accounting policies

Basis of preparation

The
financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
financial statements
are prepared in sterling, which is the functional currency of the company.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for goods supplied, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer, usually on despatch of the goods; the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Goodwill

Purchased goodwill arises on business acquisitions and represents the difference between the cost of acquisition and the fair values of the identifiable assets and liabilities acquired.
Goodwill is initially recorded at cost, and is subsequently stated at cost less any accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over the useful economic life of the asset. Where a reliable estimate of the useful life of goodwill cannot be made, the life is presumed not to exceed five years.

Intangible assets

Intangible assets are initially measured at cost and are subsequently measured at cost less any accumulated amortisation and accumulated impairment losses or at a revalued amount. However, Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Any intangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Goodwill
20 year Straight line

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.
Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful economic life of that asset as follows:
Motor vehicles
20% reducing balance
Office equipment
20% reducing balance
Plant and machinery
20% reducing balance

Impairment

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price and are subsequently measured as follows: Debt instruments are subsequently measured at amortised cost and commitments to receive a loan and to make a loan to another entity are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment.
All other financial instruments, including derivatives, are initially recognised at fair value, which is normally the transaction price and are subsequently measured at fair value, with any changes recognised in profit or loss.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.
All equity instruments regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics.
Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

Defined contribution pension plan

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.

4 Average number of employees

The average number of persons employed by the company during the year was
2
(2022:
2.00
).

5 Intangible assets

Goodwill
£
Cost  
At
1 March 2022
and
28 February 2023
15,895
 
Amortisation  
At
1 March 2022
5,724
 
Charge
636
 
At
28 February 2023
6,360
 
Carrying amount  
At
28 February 2023
9,535
 
At 28 February 2022
10,171
 

6 Tangible assets

Land and buildingsPlant and machinery etc.Total
£££
Cost      
At
1 March 2022
92,967
 
166,589
 
259,556
 
Additions -  
31,421
 
31,421
 
Disposals -  
(78,463
)
(78,463
)
At
28 February 2023
92,967
 
119,547
 
212,514
 
Depreciation      
At
1 March 2022
58,937
 
92,080
 
151,017
 
Charge
6,806
 
10,328
 
17,134
 
Disposals -  
(43,472
)
(43,472
)
At
28 February 2023
65,743
 
58,936
 
124,679
 
Carrying amount      
At
28 February 2023
27,224
 
60,611
 
87,835
 
At 28 February 2022
34,030
 
74,509
 
108,539
 

7 Debtors

20232022
££
Trade debtors
16,238
 
5,615
 

8 Creditors: amounts falling due within one year

20232022
££
Bank loans and overdrafts
9,000
 
30,761
 
Trade creditors
10,919
 
12,268
 
Taxation and social security
10,177
 
10,203
 
Other creditors
(6,470
)
8,007
 
23,626
 
61,239
 

9 Creditors: amounts falling due after more than one year

20232022
££
Bank loans and overdrafts
23,786
 
32,074