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REGISTERED NUMBER: 02488820 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

JOHNSON GROUP LIMITED

JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820)






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


JOHNSON GROUP LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTOR: Patrick Johnson





SECRETARY: Maria-Louisa Manton





REGISTERED OFFICE: 15 Home Farm Road
Rickmansworth
Hertfordshire
WD3 1JU





REGISTERED NUMBER: 02488820 (England and Wales)





ACCOUNTANTS: Defries Weiss (Accountants) Limited
1 Bridge Lane
London
NW11 0EA

JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820)

BALANCE SHEET
29 FEBRUARY 2024

29.2.24 28.2.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 47,676 63,569
Investment property 5 7,005,792 7,000,000
7,053,468 7,063,569

CURRENT ASSETS
Debtors 6 344,049 350,652
Cash at bank 12,682 48,659
356,731 399,311
CREDITORS
Amounts falling due within one year 7 3,470,671 3,500,471
NET CURRENT LIABILITIES (3,113,940 ) (3,101,160 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,939,528

3,962,409

CREDITORS
Amounts falling due after more than one year 8 (985,943 ) (989,202 )

PROVISIONS FOR LIABILITIES (605,153 ) (609,126 )
NET ASSETS 2,348,432 2,364,081

CAPITAL AND RESERVES
Called up share capital 500 500
Fair value reserve 10 1,870,366 1,870,366
Retained earnings 477,566 493,215
SHAREHOLDERS' FUNDS 2,348,432 2,364,081

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 director acknowledges his 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.

JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820)

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 director and authorised for issue on 28 November 2024 and were signed by:





Patrick Johnson - Director


JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Johnson Group 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 the provisions of section 1A of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" ("FRS 102") 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 25% of the reducing balance in order to write off each asset over its estimated useful life.

Investment property
Investment properties are accounted for in accordance with the provisions of section 16 of FRS 102. They are valued annually by the directors, and from time to time by an independent professional valuer, on a fair value basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on revaluation gains at the rate expected to apply when the property is sold.

Financial instruments
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and amounts with related parties are initially recognised at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangements 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 and liabilities classified as receivable or payable within one year are not amortised.

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.


3. EMPLOYEES AND DIRECTORS

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

JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023
and 29 February 2024 90,385
DEPRECIATION
At 1 March 2023 26,816
Charge for year 15,893
At 29 February 2024 42,709
NET BOOK VALUE
At 29 February 2024 47,676
At 28 February 2023 63,569

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2023 7,000,000
Additions 5,792
At 29 February 2024 7,005,792
NET BOOK VALUE
At 29 February 2024 7,005,792
At 28 February 2023 7,000,000

Fair value at 29 February 2024 is represented by:
£   
Valuation in 2018 363,091
Valuation in 2021 582,533
Valuation in 2022 890,000
Valuation in 2023 627,975
Cost 4,542,193
7,005,792

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Other debtors 344,049 350,652

JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29.2.24 28.2.23
£    £   
Bank loan 55,231 55,231
Hire purchase contracts 27,609 67,413
Taxation and social security 49,770 21,643
Other creditors 3,338,061 3,356,184
3,470,671 3,500,471

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

28.2.2428.2.23
£ £
Bank loan 958,334989,201

The bank loan includes £737,411.42 (2023: £768,279) that is repayable by instalments over a period of more than five years.

9. SECURED DEBTS

The bank loan referred to in notes 7 and 8 was secured against the investment properties.


10. RESERVES
Fair
value
reserve
£   
At 1 March 2023
and 29 February 2024 1,870,366

11. GOING CONCERN

The financial statements have been prepared on a going concern basis, which is dependent on the continued support of an unrelated party included in sundry creditors to whom £3,121,476 (2023: £3,106,226) is owed. This lender does not intend to withdraw its support for the foreseeable future and therefore the going concern basis is reasonable.