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REGISTERED NUMBER: 03145283 (England and Wales)















Unaudited Financial Statements for the Year Ended 29 February 2024

for

Worboys and Johnston Limited

Worboys and Johnston Limited (Registered number: 03145283)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Worboys and Johnston Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N V Worboys
Mrs C Worboys





SECRETARY: Mrs C Worboys





REGISTERED OFFICE: 18, The Lagger
Chalfont St. Giles
Bucks.
HP8 4DG





REGISTERED NUMBER: 03145283 (England and Wales)





ACCOUNTANTS: Lawson & Co.
18, The Lagger
Chalfont St. Giles
Bucks.
HP8 4DG

Worboys and Johnston Limited (Registered number: 03145283)

Balance Sheet
29 February 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,076,548 1,061,890
Investments 5 101 101
1,076,649 1,061,991

CURRENT ASSETS
Stocks 58,905 54,175
Debtors 6 242,830 246,884
Cash at bank and in hand 7,092 1,219
308,827 302,278
CREDITORS
Amounts falling due within one year 7 309,895 287,842
NET CURRENT (LIABILITIES)/ASSETS (1,068 ) 14,436
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,075,581

1,076,427

CREDITORS
Amounts falling due after more than one
year

8

(430,374

)

(461,384

)

PROVISIONS FOR LIABILITIES 9 (4,044 ) (5,959 )
NET ASSETS 641,163 609,084

CAPITAL AND RESERVES
Called up share capital 10 61,001 61,001
Revaluation reserve 11 224,100 224,100
Retained earnings 11 356,062 323,983
SHAREHOLDERS' FUNDS 641,163 609,084

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

Worboys and Johnston Limited (Registered number: 03145283)

Balance Sheet - continued
29 February 2024


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 28 November 2024 and were signed on its behalf by:





N V Worboys - Director


Worboys and Johnston Limited (Registered number: 03145283)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Worboys and Johnston 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 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.
Land and buildings - 1% on cost
Plant and machinery etc - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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

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.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

Worboys and Johnston Limited (Registered number: 03145283)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 1 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST OR VALUATION
At 1 March 2023 1,077,262 57,608 1,134,870
Additions 26,871 962 27,833
At 29 February 2024 1,104,133 58,570 1,162,703
DEPRECIATION
At 1 March 2023 46,740 26,240 72,980
Charge for year 5,093 8,082 13,175
At 29 February 2024 51,833 34,322 86,155
NET BOOK VALUE
At 29 February 2024 1,052,300 24,248 1,076,548
At 28 February 2023 1,030,522 31,368 1,061,890

Cost or valuation at 29 February 2024 is represented by:

Plant and
Land and machinery
buildings etc Totals
£    £    £   
Valuation in 2019 224,100 - 224,100
Cost 880,033 58,570 938,603
1,104,133 58,570 1,162,703

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 March 2023
and 29 February 2024 101
NET BOOK VALUE
At 29 February 2024 101
At 28 February 2023 101

Worboys and Johnston Limited (Registered number: 03145283)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Trade debtors 4,738 9,521
Other debtors 238,092 237,363
242,830 246,884

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loans and overdrafts 21,390 17,908
Hire purchase contracts 5,093 -
Taxation and social security 25,174 36,552
Other creditors 258,238 233,382
309,895 287,842

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
29.2.24 28.2.23
£    £   
Bank loans 411,398 432,222
Hire purchase contracts 18,976 29,162
430,374 461,384

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more 5 yr by instal 411,398 432,222

9. PROVISIONS FOR LIABILITIES
29.2.24 28.2.23
£    £   
Deferred tax 4,044 5,959

Deferred
tax
£   
Balance at 1 March 2023 5,959
Accelerated capital allowances (1,915 )
Balance at 29 February 2024 4,044

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 29.2.24 28.2.23
value: £    £   
411,001 Ordinary £1 61,001 61,001

Worboys and Johnston Limited (Registered number: 03145283)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

11. RESERVES
Retained Revaluation
earnings reserve Totals
£    £    £   

At 1 March 2023 323,983 224,100 548,083
Profit for the year 32,079 32,079
At 29 February 2024 356,062 224,100 580,162

12. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29.2.24 28.2.23
£    £   
N V Worboys
Balance outstanding at start of year - 121,838
Amounts repaid - (121,838 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - -

13. RELATED PARTY DISCLOSURES

The company is controlled by Mr. N. Worboys as director and majority shareholder.

The company received rent during the year of £6,000 (2023: £12,000) from Worboys Antique Restorers Limited, a related company. Charges for services provided by that company during the year amounted to £NIL (2023: £4,235) and at the year end a balance of £180,489 (2023 £179,404) was owing to that company.