Registered number
SC402525
Johnston and Johnston Fife Limited
Filleted Accounts
30 June 2023
Johnston and Johnston Fife Limited
Registered number: SC402525
Balance Sheet
as at 30 June 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 36,886 49,150
Current assets
Debtors 4 34,269 9,950
Cash at bank and in hand 117,294 105,829
151,563 115,779
Creditors: amounts falling due within one year 5 (38,746) (24,485)
Net current assets 112,817 91,294
Total assets less current liabilities 149,703 140,444
Creditors: amounts falling due after more than one year 6 (21,113) (25,621)
Provisions for liabilities (7,008) (9,339)
Net assets 121,582 105,484
Capital and reserves
Called up share capital 2 2
Profit and loss account 121,580 105,482
Shareholders' funds 121,582 105,484
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
A Johnston
Director
Approved by the board on 6 March 2024
Johnston and Johnston Fife Limited
Notes to the Accounts
for the year ended 30 June 2023
1 Accounting policies
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on at the following annual rates on all tangible fixed assets, other than freehold land, as follows:
Fixtures, fittings, tools and equipment 15% on a Reducing Balance basis
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current period.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 -
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 July 2022 4,038 57,052 61,090
At 30 June 2023 4,038 57,052 61,090
Depreciation
At 1 July 2022 3,583 8,357 11,940
Charge for the year 91 12,173 12,264
At 30 June 2023 3,674 20,530 24,204
Net book value
At 30 June 2023 364 36,522 36,886
At 30 June 2022 455 48,695 49,150
4 Debtors 2023 2022
£ £
Other debtors 34,269 9,950
5 Creditors: amounts falling due within one year 2023 2022
£ £
Corporation tax 26,697 17,125
Other taxes and social security costs 11,569 6,880
Other creditors 480 480
38,746 24,485
6 Creditors: amounts falling due after one year 2023 2022
£ £
Director's account 161 13
Bank loans 20,952 25,608
21,113 25,621
7 Other information
Johnston and Johnston Fife Limited is a private company limited by shares and incorporated in Scotland. Its registered office is:
67 Loughborough Road
Kirkcaldy
Fife
KY1 3DB
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