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REGISTERED NUMBER: SC466914 (Scotland)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

JOHNSTONE AGRICULTURAL SERVICES LTD

JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


JOHNSTONE AGRICULTURAL SERVICES LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTOR: D J Johnstone





REGISTERED OFFICE: Cleughearn Poultry Farm, Millwell Road
Auldhouse
East Kilbride
G75 9DP





REGISTERED NUMBER: SC466914 (Scotland)





ACCOUNTANTS: McDaid & Partners
Stanley House
69/71 Hamilton Road
Motherwell
Lanarkshire
ML1 3DG

JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)

BALANCE SHEET
31 JANUARY 2024

31.1.24 31.1.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 392,310 367,022

CURRENT ASSETS
Debtors 5 14,060 7,018
Cash at bank and in hand 27,163 81,741
41,223 88,759
CREDITORS
Amounts falling due within one year 6 27,936 29,225
NET CURRENT ASSETS 13,287 59,534
TOTAL ASSETS LESS CURRENT
LIABILITIES

405,597

426,556

CREDITORS
Amounts falling due after more than one
year

7

(158,185

)

(180,313

)

PROVISIONS FOR LIABILITIES (52,043 ) (50,269 )
NET ASSETS 195,369 195,974

CAPITAL AND RESERVES
Called up share capital 1 1
Retained earnings 195,368 195,973
SHAREHOLDERS' FUNDS 195,369 195,974

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)

BALANCE SHEET - continued
31 JANUARY 2024


The 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.

The financial statements were approved by the director and authorised for issue on 7 March 2024 and were signed by:





D J Johnstone - Director


JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Johnstone Agricultural Services Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of agricultural services and represents the value of services provided under contracts to the extent that there is a right to consideration and is recorded at the value of the consideration due.

Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 15% on reducing balance

Land
Land is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

2. ACCOUNTING POLICIES - continued

Basic financial instruments
Trade debtors
Trade debtors are amounts due from customers for goods or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors
Trade creditors are amounts due to suppliers for goods or services obtained in the ordinary course of business.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant & Motor Computer
Land machinery vehicles equipment Totals
£    £    £    £    £   
COST
At 1 February 2023 72,095 353,508 56,369 104 482,076
Additions - 68,250 31,590 - 99,840
Disposals - (39,750 ) (20,700 ) - (60,450 )
At 31 January 2024 72,095 382,008 67,259 104 521,466
DEPRECIATION
At 1 February 2023 - 98,002 16,971 81 115,054
Charge for year - 39,504 11,978 3 51,485
Eliminated on disposal - (26,214 ) (11,169 ) - (37,383 )
At 31 January 2024 - 111,292 17,780 84 129,156
NET BOOK VALUE
At 31 January 2024 72,095 270,716 49,479 20 392,310
At 31 January 2023 72,095 255,506 39,398 23 367,022

JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Trade debtors 8,341 7,018
Other debtors 5,719 -
14,060 7,018

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.1.24 31.1.23
£    £   
Bank loans and overdrafts 8,000 8,000
Hire purchase contracts (see note 8) 14,000 15,112
Taxation and social security 124 309
Other creditors 5,812 5,804
27,936 29,225

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.1.24 31.1.23
£    £   
Bank loans 11,334 19,334
Hire purchase contracts (see note 8) 2,400 16,400
Other creditors 144,451 144,579
158,185 180,313

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.1.24 31.1.23
£    £   
Net obligations repayable:
Within one year 14,000 15,112
Between one and five years 2,400 16,400
16,400 31,512

9. SECURED DEBTS

Clydesdale bank have a standard security over land at Cleughearn Farm.

JOHNSTONE AGRICULTURAL SERVICES LTD (REGISTERED NUMBER: SC466914)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

10. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 January 2024 and 31 January 2023:

31.1.24 31.1.23
£    £   
D J Johnstone
Balance outstanding at start of year 144,579 151,833
Amounts advanced 7,000 -
Amounts repaid (7,128 ) (7,254 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 144,451 144,579

Advances from directors are interest free and are repayable upon demand.