Company registration number:
John Morrison Timber Preservation Ltd.
for the Year Ended 30 March 2023
John Morrison Timber Preservation Ltd.
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
John Morrison Timber Preservation Ltd.
Company Information
Directors |
Mr K A Forsyth Mr J Morrison |
Company secretary |
Mrs S M Morrison |
Registered office |
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Accountants |
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Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
John Morrison Timber Preservation Ltd.
for the Year Ended 30 March 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of John Morrison Timber Preservation Ltd. for the year ended 30 March 2023 as set out on pages 3 to 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
http://www.icaew.com/regulation.
This report is made solely to the Board of Directors of John Morrison Timber Preservation Ltd., as a body, in accordance with the terms of our engagement letter dated 1 June 2020. Our work has been undertaken solely to prepare for your approval the accounts of John Morrison Timber Preservation Ltd. and state those matters that we have agreed to state to the Board of Directors of John Morrison Timber Preservation Ltd., as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than John Morrison Timber Preservation Ltd. and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that John Morrison Timber Preservation Ltd. 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 John Morrison Timber Preservation Ltd.. You consider that John Morrison Timber Preservation Ltd. 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 John Morrison Timber Preservation Ltd.. 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.
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Chartered Accountants
St. Helens
Merseyside
WA9 1UA
John Morrison Timber Preservation Ltd.
(Registration number: SC171093)
Balance Sheet as at 30 March 2023
Note |
2023 |
2022 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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( |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
( |
( |
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Provisions for liabilities |
( |
( |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 March 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
John Morrison Timber Preservation Ltd.
(Registration number: SC171093)
Balance Sheet as at 30 March 2023
Approved and authorised by the
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John Morrison Timber Preservation Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
General information |
The company is a private company limited by share capital, incorporated in Scotland.
The address of its registered office is:
Scotland
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
The financial statements have been prepared on the historical cost basis
The financial statements have been prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover represents revenue earned under contracts to provide goods and services. Revenue is recognised as earned when and to the extent that, the company obtains the right to consideration in exchange for the performance under those contracts. It is measured at the fair value of the right to consideration, which represents amounts chargeable to customers excluding value added tax.
For incomplete contracts, an assessment takes into account the nature of the assignment, the stage of completion and the relevant contract terms. Unbilled revenue is included in "Other debtors" in the accounts.
Government grants
Government grants are accounted for using the accruals model under FRS102. Government grants, in respect of the Coronavirus Job Retention Scheme, are included in the period to which the grant relates.
Tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation purposes. The deferred taxation has not been discounted.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
John Morrison Timber Preservation Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Freehold property |
no depreciation |
Plant and machinery |
15% reducing balance |
Motor vehicles |
25% reducing balance |
Computer equipment |
25% straight line |
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
Leases
Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the Balance Sheet as a finance lease obligation.
Lease payments are apportioned between finance costs in the Profit and Loss Account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.
Defined contribution pension obligation
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.
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
John Morrison Timber Preservation Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
Tangible assets |
Land and buildings |
Plant and machinery |
Computer equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 31 March 2022 |
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Additions |
- |
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- |
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Disposals |
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- |
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( |
At 30 March 2023 |
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Depreciation |
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At 31 March 2022 |
- |
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Charge for the year |
- |
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- |
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Eliminated on disposal |
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- |
- |
( |
( |
At 30 March 2023 |
- |
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Carrying amount |
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At 30 March 2023 |
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- |
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At 30 March 2022 |
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- |
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Debtors |
Current |
2023 |
2022 |
Trade debtors |
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Other debtors |
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John Morrison Timber Preservation Ltd.
Notes to the Unaudited Financial Statements for the Year Ended 30 March 2023
Creditors |
Creditors: amounts falling due within one year
Note |
2023 |
2022 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
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Other creditors |
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Creditors include hire purchase liabilities totalling £nil (2022 - £2,917) which are secured on the assets of the company.
Creditors: amounts falling due after more than one year
Note |
2023 |
2022 |
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Due after one year |
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Loans and borrowings |
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