IRIS Accounts Production v24.2.0.383 06398387 Board of Directors 1.6.23 31.5.24 31.5.24 false true false false true false Ordinary 1.00000 iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh063983872023-05-31063983872024-05-31063983872023-06-012024-05-31063983872022-05-31063983872022-06-012023-05-31063983872023-05-3106398387ns15:EnglandWales2023-06-012024-05-3106398387ns14:PoundSterling2023-06-012024-05-3106398387ns10:Director12023-06-012024-05-3106398387ns10:PrivateLimitedCompanyLtd2023-06-012024-05-3106398387ns10:SmallEntities2023-06-012024-05-3106398387ns10:AuditExempt-NoAccountantsReport2023-06-012024-05-3106398387ns10:SmallCompaniesRegimeForDirectorsReport2023-06-012024-05-3106398387ns10:SmallCompaniesRegimeForAccounts2023-06-012024-05-3106398387ns10:FullAccounts2023-06-012024-05-3106398387ns10:OrdinaryShareClass12023-06-012024-05-3106398387ns10:Director22023-06-012024-05-3106398387ns10:Director32023-06-012024-05-3106398387ns10:CompanySecretary12023-06-012024-05-3106398387ns10:RegisteredOffice2023-06-012024-05-3106398387ns5:CurrentFinancialInstruments2024-05-3106398387ns5:CurrentFinancialInstruments2023-05-3106398387ns5:Non-currentFinancialInstruments2024-05-3106398387ns5:Non-currentFinancialInstruments2023-05-3106398387ns5:ShareCapital2024-05-3106398387ns5:ShareCapital2023-05-3106398387ns5:RetainedEarningsAccumulatedLosses2024-05-3106398387ns5:RetainedEarningsAccumulatedLosses2023-05-3106398387ns5:LandBuildings2023-06-012024-05-3106398387ns5:PlantMachinery2023-06-012024-05-3106398387ns5:LandBuildings2023-05-3106398387ns5:PlantMachinery2023-05-3106398387ns5:LandBuildings2024-05-3106398387ns5:PlantMachinery2024-05-3106398387ns5:LandBuildings2023-05-3106398387ns5:PlantMachinery2023-05-3106398387ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3106398387ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3106398387ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-05-3106398387ns5:HirePurchaseContractsns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-05-3106398387ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2024-05-3106398387ns5:BetweenOneFiveYearsns5:HirePurchaseContracts2023-05-3106398387ns5:HirePurchaseContracts2024-05-3106398387ns5:HirePurchaseContracts2023-05-3106398387ns10:OrdinaryShareClass12024-05-31
REGISTERED NUMBER: 06398387 (England and Wales)















JOHNSON & SMITH (LINCOLN) LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MAY 2024






JOHNSON & SMITH (LINCOLN) LIMITED (REGISTERED NUMBER: 06398387)






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




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3 to 5


JOHNSON & SMITH (LINCOLN) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: P A Johnson
Mrs D D L Johnson
L M Johnson





SECRETARY: Mrs D D L Johnson





REGISTERED OFFICE: Unit 6G Exchange Road
Lincoln
Lincolnshire
LN6 3JZ





REGISTERED NUMBER: 06398387 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
4 Henley Way
Doddington Road
Lincoln
Lincolnshire
LN6 3QR

JOHNSON & SMITH (LINCOLN) LIMITED (REGISTERED NUMBER: 06398387)

STATEMENT OF FINANCIAL POSITION
31 MAY 2024

31.5.24 31.5.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 216,502 185,923

CURRENT ASSETS
Debtors 5 1,443,343 1,346,280
Cash at bank and in hand 1,033,312 287,459
2,476,655 1,633,739
CREDITORS
Amounts falling due within one year 6 718,838 305,308
NET CURRENT ASSETS 1,757,817 1,328,431
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,974,319

1,514,354

CREDITORS
Amounts falling due after more than one year 7 (113,600 ) (63,671 )

PROVISIONS FOR LIABILITIES (44,611 ) (36,741 )
NET ASSETS 1,816,108 1,413,942

CAPITAL AND RESERVES
Called up share capital 10 100 100
Retained earnings 1,816,008 1,413,842
SHAREHOLDERS' FUNDS 1,816,108 1,413,942

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

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

The directors acknowledge their 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.

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 Board of Directors and authorised for issue on 6 August 2024 and were signed on its behalf by:



L M Johnson - Director


JOHNSON & SMITH (LINCOLN) LIMITED (REGISTERED NUMBER: 06398387)

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

1. STATUTORY INFORMATION

Johnson & Smith (Lincoln) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Land and buildings - 2% on cost
Plant and machinery etc - 25% on reducing balance, 25% on cost and 20% on reducing balance

Tangible fixed assets are held at cost less depreciation.

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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the statement of financial position. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is shorter.

The interest element of these obligations is charged to the income statement over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the income statement on a straight line basis over the period of the lease.

JOHNSON & SMITH (LINCOLN) LIMITED (REGISTERED NUMBER: 06398387)

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

2. ACCOUNTING POLICIES - continued

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 the income statement in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 12 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 June 2023 45,264 357,226 402,490
Additions - 100,437 100,437
Disposals - (59,351 ) (59,351 )
At 31 May 2024 45,264 398,312 443,576
DEPRECIATION
At 1 June 2023 6,303 210,264 216,567
Charge for year 905 57,335 58,240
Eliminated on disposal - (47,733 ) (47,733 )
At 31 May 2024 7,208 219,866 227,074
NET BOOK VALUE
At 31 May 2024 38,056 178,446 216,502
At 31 May 2023 38,961 146,962 185,923

The net book value of tangible fixed assets includes £ 125,389 (2023 - £ 73,201 ) in respect of assets held under hire purchase contracts.

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Trade debtors 709,588 473,405
Amounts recoverable on contract 662,781 811,399
Other debtors 70,974 61,476
1,443,343 1,346,280

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 21,469 10,112
Trade creditors 322,792 168,019
Taxation and social security 181,222 40,548
Other creditors 193,355 86,629
718,838 305,308

JOHNSON & SMITH (LINCOLN) LIMITED (REGISTERED NUMBER: 06398387)

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

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.5.24 31.5.23
£    £   
Hire purchase contracts (see note 8) 113,600 63,671

8. LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

Hire purchase contracts
31.5.24 31.5.23
£    £   
Net obligations repayable:
Within one year 21,469 10,112
Between one and five years 113,600 63,671
135,069 73,783

Total financial commitments, guarantees and contingencies which are not included in the statement of financial position amount to £26,059 (2023: £48,635).

9. SECURED DEBTS

The following secured debts are included within creditors:

31.5.24 31.5.23
£    £   
Hire purchase contracts 135,069 73,783

A debenture dated 7 March 2018 is in place for the fixed and floating charges over the undertaking of the company and all property.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31.5.24 31.5.23
value: £    £   
100 Ordinary 1 100 100