Registered number
04952847
S. M. Johnson & Co. Limited
Filleted Accounts
30 November 2024
S. M. Johnson & Co. Limited
Registered number: 04952847
Balance Sheet
as at 30 November 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 2,303 12,060
Current assets
Debtors 4 28,148 21,317
Cash at bank and in hand 10,911 63,456
39,059 84,773
Creditors: amounts falling due within one year 5 (15,048) (50,986)
Net current assets 24,011 33,787
Total assets less current liabilities 26,314 45,847
Creditors: amounts falling due after more than one year 6 (1,400) (4,200)
Net assets 24,914 41,647
Capital and reserves
Called up share capital 100 100
Profit and loss account 24,814 41,547
Shareholder's funds 24,914 41,647
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
S. M. Johnson
Director
Approved by the board on 5 January 2025
S. M. Johnson & Co. Limited
Notes to the Accounts
for the year ended 30 November 2024
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:
Office equipment & IT technology over 3 years
Office buildings over 10 years
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Office buildings Office equipment & IT technology Total
£ £ £
Cost
At 1 December 2023 16,865 12,382 29,247
Additions - 2,197 2,197
Disposals (16,865) - (16,865)
At 30 November 2024 - 14,579 14,579
Depreciation
At 1 December 2023 5,198 11,989 17,187
Charge for the year - 287 287
On disposals (5,198) - (5,198)
At 30 November 2024 - 12,276 12,276
Net book value
At 30 November 2024 - 2,303 2,303
At 30 November 2023 11,667 393 12,060
4 Debtors 2024 2023
£ £
Trade debtors 23,061 18,519
Other debtors 5,087 2,798
28,148 21,317
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 2,800 2,800
Trade creditors 2,618 1,188
Taxation and social security costs 9,617 12,922
Other creditors 13 34,076
15,048 50,986
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 1,400 4,200
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S. M. Johnson
Director's loan account - 2,968 - 2,968
- 2,968 - 2,968
8 Other information
S. M. Johnson & Co. Limited is a private company limited by shares and incorporated in England. Its registered office is:
7 Daisyfields
Burgess Hill
West Sussex
RH15 0YB
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