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REGISTERED NUMBER: 04535766 (England and Wales)














P & SM Johnson Limited

Unaudited Financial Statements

for the Year Ended 31 October 2024






P & SM Johnson Limited (Registered number: 04535766)

Contents of the Financial Statements
for the Year Ended 31 October 2024










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3

Notes to the financial statements 5


P & SM Johnson Limited

Company Information
for the Year Ended 31 October 2024







Directors: Mr S M Johnson
Mr P Johnson





Secretary: Mr G R Beeken





Registered office: Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB





Business address: Eastfields
Dog Drove
Holbeach Drove
Nr Spalding
Lincolnshire
PE12 0SA





Registered number: 04535766 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
P & SM Johnson Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Directors' report are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of P & SM Johnson Limited for the year ended 31 October 2024 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes 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 within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of P & SM Johnson Limited, as a body, in accordance with the terms of our engagement letter dated 4 March 2019. Our work has been undertaken solely to prepare for your approval the financial statements of P & SM Johnson Limited and state those matters that we have agreed to state to the Board of Directors of P & SM Johnson Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than P & SM Johnson Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that P & SM Johnson Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of P & SM Johnson Limited. You consider that P & SM 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 financial statements of P & SM 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 financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


7 February 2025

P & SM Johnson Limited (Registered number: 04535766)

Statement of Financial Position
31 October 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 5 35,630 41,579

Current assets
Stocks 6 86,858 85,401
Debtors 7 114,777 110,275
Cash at bank and in hand 1,255,024 1,226,130
1,456,659 1,421,806
Creditors
Amounts falling due within one year 8 130,875 154,200
Net current assets 1,325,784 1,267,606
Total assets less current liabilities 1,361,414 1,309,185

Provisions for liabilities 6,659 7,769
Net assets 1,354,755 1,301,416

Capital and reserves
Called up share capital 9 100 100
Retained earnings 1,354,655 1,301,316
Shareholders' funds 1,354,755 1,301,416

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

P & SM Johnson Limited (Registered number: 04535766)

Statement of Financial Position - continued
31 October 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 February 2025 and were signed on its behalf by:




Mr P Johnson - Director



Mr S M Johnson - Director


P & SM Johnson Limited (Registered number: 04535766)

Notes to the Financial Statements
for the Year Ended 31 October 2024


1. Statutory information

P & SM Johnson 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.

The presentation currency of the financial statements is the Pound Sterling (£).


2. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
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 the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 33% on a straight line basis

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 Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

P & SM Johnson Limited (Registered number: 04535766)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


3. Accounting policies - continued

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.

4. Employees and directors

The average number of employees during the year was 4 (2023 - 4 ) .

5. Tangible fixed assets
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
Cost
At 1 November 2023 97,235 100,927 9,699 207,861
Additions 3,672 - - 3,672
At 31 October 2024 100,907 100,927 9,699 211,533
Depreciation
At 1 November 2023 83,987 72,596 9,699 166,282
Charge for year 2,538 7,083 - 9,621
At 31 October 2024 86,525 79,679 9,699 175,903
Net book value
At 31 October 2024 14,382 21,248 - 35,630
At 31 October 2023 13,248 28,331 - 41,579

6. Stocks
2024 2023
£    £   
Stocks 86,858 85,401

7. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 94,024 92,123
Prepayments 20,753 18,152
114,777 110,275

P & SM Johnson Limited (Registered number: 04535766)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024


8. Creditors: amounts falling due within one year
2024 2023
£    £   
Trade creditors 34,550 30,417
Corporation tax 37,434 32,321
Social security and other taxes 1,123 1,298
VAT 28,785 27,629
Directors' loan accounts 21,995 55,484
Accruals and deferred income 6,988 7,051
130,875 154,200

9. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary shares £1 100 100