Company Registration No. 05288587 (England and Wales)
J D Johnson Limited
Unaudited accounts
for the year ended 29 February 2024
J D Johnson Limited
Unaudited accounts
Contents
J D Johnson Limited
Company Information
for the year ended 29 February 2024
Director
James Duncan Johnson
Company Number
05288587 (England and Wales)
Registered Office
Low Farm, Rea Lane
Welton le Marsh
Spilsby
Lincolnshire
PE23 5TA
Accountants
WatsonCo Chartered Accountants
Croft House Farm
Croft Marsh Lane
Croft
Lincolnshire
PE24 4AR
Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of J D Johnson Limited for the year ended 29 February 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of
J D Johnson Limited for the year ended
29 February 2024 as set out on pages
5 -
8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of J D Johnson Limited, as a body, in accordance with the terms of our engagement letter dated 1 October 2021. Our work has been undertaken solely to prepare for your approval the accounts of J D Johnson Limited and state those matters that we have agreed to state to the Board of Directors of J D Johnson Limited, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than J D Johnson Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that J D Johnson Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of J D Johnson Limited. You consider that J D Johnson Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of J D Johnson Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
WatsonCo Chartered Accountants
Chartered Accountants
Croft House Farm
Croft Marsh Lane
Croft
Lincolnshire
PE24 4AR
30 November 2024
J D Johnson Limited
Statement of financial position
as at 29 February 2024
Tangible assets
202,185
199,733
Cash at bank and in hand
54,998
98,453
Creditors: amounts falling due within one year
(373,470)
(393,348)
Net current assets
74,280
125,001
Total assets less current liabilities
276,465
324,734
Creditors: amounts falling due after more than one year
(216,924)
(242,333)
Called up share capital
100
100
Profit and loss account
59,441
82,301
Shareholders' funds
59,541
82,401
For the year ending 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 30 November 2024 and were signed on its behalf by
James Duncan Johnson
Director
Company Registration No. 05288587
J D Johnson Limited
Notes to the Accounts
for the year ended 29 February 2024
J D Johnson Limited is a private company, limited by shares, registered in England and Wales, registration number 05288587. The registered office is Low Farm, Rea Lane, Welton le Marsh, Spilsby, Lincolnshire, PE23 5TA.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
5% reducing balance
Plant & machinery
15% reducing balance or straight line over 25 years
Motor vehicles
25% reducing balance
Computer equipment
20% reducing balance
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
J D Johnson Limited
Notes to the Accounts
for the year ended 29 February 2024
4
Intangible fixed assets
Goodwill
Other
Total
At 1 March 2023
84,000
35,000
119,000
At 29 February 2024
84,000
35,000
119,000
At 1 March 2023
84,000
35,000
119,000
At 29 February 2024
84,000
35,000
119,000
5
Tangible fixed assets
Land & buildings
Plant & machinery
Motor vehicles
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2023
197,459
193,880
6,500
1,083
398,922
Additions
-
12,794
25,147
-
37,941
Disposals
-
(5,500)
-
-
(5,500)
At 29 February 2024
197,459
201,174
31,647
1,083
431,363
At 1 March 2023
131,773
65,214
1,625
577
199,189
Charge for the year
3,285
20,623
7,506
101
31,515
On disposals
-
(1,526)
-
-
(1,526)
At 29 February 2024
135,058
84,311
9,131
678
229,178
At 29 February 2024
62,401
116,863
22,516
405
202,185
At 28 February 2023
65,686
128,666
4,875
506
199,733
Carrying values included above held under finance leases and hire purchase contracts:
£
£
- Plant & machinery
62,462
73,485
Amounts falling due within one year
Amounts due from group undertakings etc.
355,669
359,394
Accrued income and prepayments
4,564
14,864
J D Johnson Limited
Notes to the Accounts
for the year ended 29 February 2024
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
19,477
13,545
Obligations under finance leases and hire purchase contracts
10,565
21,417
Trade creditors
475
30,114
Taxes and social security
86
-
Loans from directors
334,871
326,414
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
216,924
242,333
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
Brought
Forward
Advance/
credit
Repaid
Carried
Forward
(95,143)
(3,386)
-
(98,529)
(231,271)
(30,219)
(25,148)
(236,342)
(326,414)
(33,605)
(25,148)
(334,871)
11
Transactions with related parties
At the year end, JD Johnson Investments Ltd, a company owned by Mr J D Johnson, had an outstanding balance owed to JD Johnson Ltd of £355,669 (2003: £359,394).
12
Average number of employees
During the year the average number of employees was 2 (2023: 3).