Registered number
02769676
Johnson Banks Design Limited
Filleted Accounts
31 December 2023
Johnson Banks Design Limited
Registered number: 02769676
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 36,306 29,380
Current assets
Stocks 24,285 3,570
Debtors 4 114,211 38,909
Cash at bank and in hand 323,265 410,688
461,761 453,167
Creditors: amounts falling due within one year 5 (82,691) (106,982)
Net current assets 379,070 346,185
Total assets less current liabilities 415,376 375,565
Capital and reserves
Called up share capital 1 1
Capital redemption reserve 1 1
Profit and loss account 415,374 375,563
Shareholders' funds 415,376 375,565
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.
M Johnson
Director
Approved by the board on 6 August 2024
Johnson Banks Design Limited
Notes to the Accounts
for the year ended 31 December 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.
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:
Motor Vehicles over 4 years
Plant and machinery over 3 and 4 years
Fixtures, fittings, tools and equipment over 10 years
Stocks and work in progress
Work in progress is measured at the lower of cost and estimated selling price less costs to complete and sell.
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.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. All differences are charged to profit or loss.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 January 2023 720,189 20,420 740,609
Additions 28,673 - 28,673
At 31 December 2023 748,862 20,420 769,282
Depreciation
At 1 January 2023 701,019 10,210 711,229
Charge for the year 16,642 5,105 21,747
At 31 December 2023 717,661 15,315 732,976
Net book value
At 31 December 2023 31,201 5,105 36,306
At 31 December 2022 19,170 10,210 29,380
4 Debtors 2023 2022
£ £
Trade debtors 88,626 13,331
Other debtors 25,585 25,578
114,211 38,909
5 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 38,587 20,296
Taxation and social security costs 36,170 65,149
Other creditors 7,934 21,537
82,691 106,982
6 Other information
Johnson Banks Design Limited is a private company limited by shares and incorporated in England. Its registered office is:
Crescent Works
Crescent Lane
Clapham
London
SW4 9RW
7 Related party disclosures
During the year total dividends of £51,020 (2022 - £70,000) were paid to the directors.
8 Ultimate controlling party
The controlling party is M Johnson.
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