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REGISTERED NUMBER: NI003548 (Northern Ireland)















Report of the Directors and

Financial Statements for the Year Ended 31 December 2023

for

Johnson Brothers (Distributing) Limited

Johnson Brothers (Distributing) Limited (Registered number: NI003548)






Contents of the Financial Statements
for the year ended 31 December 2023




Page

Company Information 1

Report of the Directors 2

Report of the Independent Auditors 5

Income Statement 9

Statement of Financial Position 10

Notes to the Financial Statements 11


Johnson Brothers (Distributing) Limited

Company Information
for the year ended 31 December 2023







DIRECTORS: M Y Johnson
D W M Johnson
M A Johnson
R J Johnson
P Mills
N J W Patton
Mrs M E Maginnis
A M Johnson


SECRETARY: Mrs M Maginnis


REGISTERED OFFICE: 137 Hillsborough Old Road
Lisburn
Co. Antrim
BT27 5QR


REGISTERED NUMBER: NI003548 (Northern Ireland)


SENIOR STATUTORY AUDITOR: Anthony Bradley FCA


AUDITORS: Cleaver Black
Chartered Accountants
Registered Auditors
Suite 5 Ormeau House
91-97 Ormeau Road
Belfast
Co. Antrim
BT7 1SH


BANKERS: Bank Of Ireland
4 - 8 High Street
Belfast
BT1 2BA

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Report of the Directors
for the year ended 31 December 2023

The directors present their report with the financial statements of the company for the year ended 31 December 2023.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of distribution services and the sale and distribution of commodity products.

There were no significant changes in the activities of the company during the year.

REVIEW OF BUSINESS
The directors consider both the results for the year and the trading prospects to be satisfactory.

DIVIDENDS
No dividends will be distributed for the year ended 31 December 2023.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 January 2023 to the date of this report.

M Y Johnson
D W M Johnson
M A Johnson
R J Johnson
P Mills
N J W Patton
Mrs M E Maginnis

Other changes in directors holding office are as follows:

A M Johnson - appointed 1 September 2023


Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Report of the Directors
for the year ended 31 December 2023

FINANCIAL RISK MANAGEMENT OBJECTIVES AND POLICIES
The company uses various financial instruments including bank loans or overdrafts, cash, and various items, such as trade debtors and trade creditors that arise directly from its operations. The main purpose of these financial instruments is to raise finance for the company's operations.


The existence of these financial instruments exposes the company to a number of financial risks, which are described in more detail below.


The main risks arising from the company's instruments are interest rate risk and liquidity risk.


The directors review and agree policies for managing each of these risks and they are summarised below. These policies remain unchanged from previous years.


Liquidity Risk
The company seeks to manage financial risk by ensuring sufficient liquidity is available to meet foreseeable needs. Short-term flexibility is achieved by overdraft facilities.


Currency Risk
The company is exposed to translation and transaction foreign exchange risk.


Interest Rate Risk
The company finances its operations through a mixture of retained profits and bank borrowings. The company exposure to interest rate fluctuations on its borrowings is managed through annual review of its borrowing requirements.


Credit Risk
The company's principal financial assets are cash and debtors: the credit risk associated with cash is limited. An assessment is made of prospective commercial customers before goods are supplied on credit. Overdue amounts are reviewed on an ongoing basis and are followed up on a monthly basis.

STATEMENT OF DIRECTORS' RESPONSIBILITIES
The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- select suitable accounting policies and then apply them consistently;
- make judgements and accounting estimates that are reasonable and prudent;
- prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
- state whether applicable UK accounting standards have been followed, subject to any material departures disclosed and explained in the financial statements.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Report of the Directors
for the year ended 31 December 2023


STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS
The auditors, Cleaver Black, were appointed during the year and are deemed to be re-appointed under scetion 487(2) of the Comapnies Act 2006.

ON BEHALF OF THE BOARD:





Mrs M E Maginnis - Director


23 July 2024

Report of the Independent Auditors to the Members of
Johnson Brothers (Distributing) Limited

Opinion
We have audited the financial statements of Johnson Brothers (Distributing) Limited (the 'company') for the year ended 31 December 2023 which comprise the Income Statement, Statement of Financial Position and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 31 December 2023 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Report of the Directors, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Johnson Brothers (Distributing) Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit; or
- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Johnson Brothers (Distributing) Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Identify and assessing potential risks related to irregularities

In identifying and assessing risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, we considered the following:


1. The nature of the industry and sector, control environment and business performance including the design of
the company's remuneration policies;
2. Results of our enquiries of management about their own identification and assessment of the risks of
irregularities;
3. Any matters we identified having obtained and reviewed the company's documentation of their policies and
procedures relating to:
(i) Identifying, evaluating and complying with laws and regulations and whether they were aware of any cases of non-compliance;
(ii) Detecting and responding to the risks of fraud and whether they have knowledge of any actual, suspected or alleged fraud;
(iii) The internal controls established to mitigate risks of fraud or non-compliance with laws and regulations.
4. The matters discussed among the audit engagement team regarding how and where fraud might occur in the
financial statements and any potential indicators of fraud.

As a result of these procedures, we considered the opportunities and incentives that may exist within the organisation for fraud and identified the greatest potential for fraud in relation to revenue deferrals. In common with all audits under ISAs (UK), we are also required to perform specific procedures to respond to risk management override.
We also obtained an understanding of the legal and regulatory frameworks that the company operates in, focusing on provisions of those laws and regulations that have a direct effect on the determination of material amounts and disclosures in the financial statements.

Audit response to risks identified

As a result of performing the above, we identified revenue deferrals as a key audit matter related to the potential risk of fraud. Our procedures to respond to risks identified included the following:

1. Enquiring of management and external legal counsel concerning actual and potential litigation and claims;
2. Performing analytical procedures to identify any unusual or unexpected relationships that may indicate risks of
material misstatement due to fraud;
3. Reading minutes of meetings of those charged with governance and reviewing regulatory correspondence;
4. Obtaining an understanding of the provisions and held discussions with management to understand the basis of
recognition or non-recognition of tax provisions;
5. In addressing the risk of fraud through management override of controls, testing the appropriateness of journal
entries; assessing whether the judgements made in making accounting estimates are indicative of potential bias;
and evaluating the business rationale of any significant transactions that are outside the normal course of
business.

We also communicated relevant identified laws and regulations and potential fraud risks to all engagement team members, and remained alert to any indications of fraud or non-compliance with laws and regulations throughout the audit.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Johnson Brothers (Distributing) Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Anthony Bradley FCA (Senior Statutory Auditor)
for and on behalf of Cleaver Black
Chartered Accountants
Registered Auditors
Suite 5 Ormeau House
91-97 Ormeau Road
Belfast
Co. Antrim
BT7 1SH

23 July 2024

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Income Statement
for the year ended 31 December 2023

2023 2022
Notes £    £   

TURNOVER 6,696,765 5,848,387

Cost of sales (4,998,340 ) (4,422,485 )
GROSS PROFIT 1,698,425 1,425,902

Distribution costs (883,957 ) (850,087 )
Administrative expenses (603,679 ) (563,157 )
OPERATING PROFIT and
PROFIT BEFORE TAXATION 210,789 12,658

Tax on profit (49,109 ) 4
PROFIT FOR THE FINANCIAL YEAR 161,680 12,662

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Statement of Financial Position
31 December 2023

2023 2022
Notes £    £   
FIXED ASSETS
Intangible assets 5 - -
Tangible assets 6 235,888 267,410
235,888 267,410

CURRENT ASSETS
Stocks 7 944,381 1,153,024
Debtors 8 964,845 779,832
Cash at bank and in hand 442,609 493,631
2,351,835 2,426,487
CREDITORS
Amounts falling due within one year 9 (2,093,263 ) (2,353,237 )
NET CURRENT ASSETS 258,572 73,250
TOTAL ASSETS LESS CURRENT
LIABILITIES

494,460

340,660

PROVISIONS FOR LIABILITIES (58,972 ) (66,852 )
NET ASSETS 435,488 273,808

CAPITAL AND RESERVES
Called up share capital 2,000 2,000
Retained earnings 433,488 271,808
SHAREHOLDERS' FUNDS 435,488 273,808

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 23 July 2024 and were signed on its behalf by:




D W M Johnson - Director



P Mills - Director


Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Notes to the Financial Statements
for the year ended 31 December 2023

1. STATUTORY INFORMATION

Johnson Brothers (Distributing) Limited is a private company, limited by shares , registered in Northern Ireland. 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.

The financial statements are presented in Sterling (£).

Significant judgements and estimates
In applying the company's accounting policies the director is required to make significant judgements, estimates and assumptions in determining the carrying amounts of assets and liabilities. The director's judgements, estimates and assumptions are based on the best and most reliable evidence available at the time when the decisions are made, and are based on historical experience and other factors that are considered to be applicable. Due to the inherence subjectivity involved in making such judgements, estimates and assumptions, the actual results and outcomes may differ. The items in the financial statements where these judgements and estimates have been made include:

Recoverability of Debtors:
Estimates are made in respect to the recoverable value of trade and other debtors. When assessing the level of provisions required, factors including current trading experience, historical experience and the ageing profile of the debtors are considered.

Assessing indicators of impairment:
At each reporting date fixed assets are reviewed to determine whether there is any indication that those assets have suffered an impairment loss. If there is an indication of possible impairment, the recoverable amount of any affected asset is estimated and compared with its carrying amount. If estimated recoverable amount is lower, the carrying amount is reduced to its estimated recoverable amount, and an impairment loss is recognised immediately in the profit or loss. If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the asset that would have been determined had no impairment loss been recognised for the asset in previous years. A reversal of an impairment loss is recognised immediately in the profit or loss.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2006, has been amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor vehicles - 20% on reducing balance

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Cost is based on the cost of purchase on a first in, first out basis.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The directors have assessed, based on the anticipated activities of the company, that there are adequate resources in place to meet the on-going costs of the business for a minimum of 12 months from the date of signing of the financial statements. In coming to this conclusion, the directors have assessed the entity's current financing arrangements and liquid resources. For this reason, the financial statements have been prepared on a going concern basis which presumes the utilisation of assets and liabilities in the normal course of business.

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

3. EMPLOYEES AND DIRECTORS
2023 2022
£    £   
Wages and salaries 369,669 337,235
Social security costs 31,314 29,563
Other pension costs 11,521 10,274
412,504 377,072

The average number of employees during the year was as follows:
2023 2022

Number of distribution staff 12 12
Number of administrative staff 4 4
Number of selling staff 3 3
19 19

4. OPERATING PROFIT

The operating profit is stated after charging:

2023 2022
£    £   
Depreciation - owned assets 55,022 56,568

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

5. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 January 2023
and 31 December 2023 461,602
AMORTISATION
At 1 January 2023
and 31 December 2023 461,602
NET BOOK VALUE
At 31 December 2023 -
At 31 December 2022 -

6. TANGIBLE FIXED ASSETS
Motor
vehicles
£   
COST
At 1 January 2023 648,751
Additions 23,500
At 31 December 2023 672,251
DEPRECIATION
At 1 January 2023 381,341
Charge for year 55,022
At 31 December 2023 436,363
NET BOOK VALUE
At 31 December 2023 235,888
At 31 December 2022 267,410

7. STOCKS
2023 2022
£    £   
Finished goods 944,381 1,153,024

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 930,261 732,946
VAT 23,204 27,395
Prepayments and accrued income 11,380 19,491
964,845 779,832

Johnson Brothers (Distributing) Limited (Registered number: NI003548)

Notes to the Financial Statements - continued
for the year ended 31 December 2023

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 385,553 358,283
Amounts owed to group undertakings 1,638,020 1,876,710
Tax 56,993 -
Social security and other taxes 122 80
Other creditors - 15,796
Accrued expenses 12,575 102,368
2,093,263 2,353,237

10. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

11. ULTIMATE CONTROLLING PARTY

The ultimate controlling parties of the company are the shareholders Mr D W M Johnson and Mr M A Johnson.