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REGISTERED NUMBER: 00210922 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MAY 2024

FOR

D.S. JOHNSTON PROPERTIES LIMITED

D.S. JOHNSTON PROPERTIES LIMITED (REGISTERED NUMBER: 00210922)

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










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


D.S. JOHNSTON PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MAY 2024







DIRECTORS: A R Johnston
S M Jacobs
L A Johnston





REGISTERED OFFICE: First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY





REGISTERED NUMBER: 00210922 (England and Wales)





ACCOUNTANTS: Galloways Accounting
First Floor
Ridgeland House
15 Carfax
Horsham
West Sussex
RH12 1DY

D.S. JOHNSTON PROPERTIES LIMITED (REGISTERED NUMBER: 00210922)

BALANCE SHEET
31 MAY 2024

31.5.24 31.5.23
as restated
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 575,000 575,000

CURRENT ASSETS
Debtors 5 134,516 135,349
Cash at bank 586,916 532,254
721,432 667,603
CREDITORS
Amounts falling due within one year 6 23,739 19,425
NET CURRENT ASSETS 697,693 648,178
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,272,693

1,223,178

PROVISIONS FOR LIABILITIES 105,975 105,976
NET ASSETS 1,166,718 1,117,202

CAPITAL AND RESERVES
Called up share capital 250,000 250,000
Fair value reserve 7 408,610 408,610
Retained earnings 508,108 458,592
SHAREHOLDERS' FUNDS 1,166,718 1,117,202

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 22 October 2024 and were signed on its behalf by:





L A Johnston - Director


D.S. JOHNSTON PROPERTIES LIMITED (REGISTERED NUMBER: 00210922)

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


1. STATUTORY INFORMATION

D.S. Johnston Properties 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover represents rents receivable during the year from property letting, net of value added tax. Rent receivable is recognised in the month it falls due.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

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 company after deducting all of its liabilities.

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

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 balance sheet date.


D.S. JOHNSTON PROPERTIES LIMITED (REGISTERED NUMBER: 00210922)

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


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 June 2023
and 31 May 2024 575,000
NET BOOK VALUE
At 31 May 2024 575,000
At 31 May 2023 575,000

Fair value at 31 May 2024 is represented by:
£   
Valuation in 2022 559,586
Valuation in 2023 (45,000 )
Cost 60,414
575,000

If investment property had not been revalued it would have been included at the following historical cost:

31.5.24 31.5.23
as restated
£    £   
Cost 60,414 60,414

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
as restated
£    £   
Amounts owed by group undertakings 133,044 133,044
Prepayments and accrued income 1,472 2,305
134,516 135,349

D.S. JOHNSTON PROPERTIES LIMITED (REGISTERED NUMBER: 00210922)

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


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.5.24 31.5.23
as restated
£    £   
Tax 15,737 11,154
Social security and other taxes 2,814 2,400
Other creditors 2,438 2,438
Accrued expenses 2,750 3,433
23,739 19,425

7. RESERVES
Fair
value
reserve
£   
At 1 June 2023
and 31 May 2024 408,610

8. PARENT UNDERTAKING

The company's immediate parent is D S Johnston (Holdings) Limited, a company incorporated in England and Wales. The immediate parent's registered office address is the same as for the company.