Registered number
08430369
Johns & Johns Limited
Filleted Accounts
31 March 2023
Johns & Johns Limited
Registered number: 08430369
Balance Sheet
as at 31 March 2023
Notes 2023 2022
£ £
Fixed assets
Intangible assets 3 62,175 99,875
Tangible assets 4 117,776 164,777
179,951 264,652
Current assets
Stocks 1,493 1,493
Debtors 5 80,742 23,558
Cash at bank and in hand 33,682 17,904
115,917 42,955
Creditors: amounts falling due within one year 6 (1,010,483) (940,905)
Net current liabilities (894,566) (897,950)
Total assets less current liabilities (714,615) (633,298)
Creditors: amounts falling due after more than one year 7 (19,345) (35,714)
Net liabilities (733,960) (669,012)
Capital and reserves
Called up share capital 200 200
Profit and loss account (734,160) (669,212)
Shareholders' funds (733,960) (669,012)
The directors are 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 directors acknowledge their 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.
Mr M Johns
Director
Approved by the board on 23 December 2023
Johns & Johns Limited
Notes to the Accounts
for the year ended 31 March 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
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 from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Equipment 10/20% straight line
Motor vehicles 25% straight line
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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 and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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 10 5
3 Intangible fixed assets £
Goodwill and franchise fees
Cost
At 1 April 2022 377,000
Additions -
Disposals -
At 31 March 2023 377,000
Amortisation
At 1 April 2022 277,125
Provided during the year 37,700
On disposals -
At 31 March 2023 314,825
Net book value
At 31 March 2023 62,175
At 31 March 2022 99,875
Goodwill is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 April 2022 257,563 43,492 301,055
Additions - - -
At 31 March 2023 257,563 43,492 301,055
Depreciation
At 1 April 2022 114,532 21,746 136,278
Charge for the year 36,128 10,873 47,001
At 31 March 2023 150,660 32,619 183,279
Net book value
At 31 March 2023 106,903 10,873 117,776
At 31 March 2022 143,031 21,746 164,777
5 Debtors 2023 2022
£ £
Trade debtors 64,285 3,202
Other debtors 16,457 20,356
80,742 23,558
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 17,857 17,857
Trade creditors 126,556 155,497
Director's loan account 768,318 706,728
Taxation and social security costs 94,408 57,887
Other creditors 3,344 2,936
1,010,483 940,905
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 19,345 35,714
8 Loans 2023 2022
£ £
Secured bank loans 37,202 53,571
9 Controlling party
The company is controlled by Mr M Johns, one of the directors who owns all the voting shares. The company loan is secured by a personal guarantee from Mr M Johns.
10 Other information
Johns & Johns Limited is a private company limited by shares and incorporated in England. Its registered office is:
35 Charlwood Drive
Oxshott
Leatherhead
KT22 0HB
The company's principal places of business are:
Unit 4, Technology House, 48/54 Goldsworth Road, Woking, GU21 6LE
3 The Parade, Kingston Road, Leatherhead KT22 7SR
181A Fleet Road, Fleet, GU51 3BL
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