0 false false false false false false false false false false true false false false false false false 2023-09-01 Sage Accounts Production Advanced 2024 - FRS102_2024 70,716 54,937 15,779 70,716 15,779 1,759 991 2,750 440 578 1,018 1,732 1,319 xbrli:pure xbrli:shares iso4217:GBP NI659773 2023-09-01 2024-08-31 NI659773 2024-08-31 NI659773 2023-08-31 NI659773 2022-09-01 2023-08-31 NI659773 2023-08-31 NI659773 2022-08-31 NI659773 core:NetGoodwill 2023-09-01 2024-08-31 NI659773 bus:Director1 2023-09-01 2024-08-31 NI659773 bus:Director2 2023-09-01 2024-08-31 NI659773 core:NetGoodwill 2023-08-31 NI659773 core:NetGoodwill 2024-08-31 NI659773 core:WithinOneYear 2024-08-31 NI659773 core:WithinOneYear 2023-08-31 NI659773 core:ShareCapital 2024-08-31 NI659773 core:ShareCapital 2023-08-31 NI659773 core:RetainedEarningsAccumulatedLosses 2024-08-31 NI659773 core:RetainedEarningsAccumulatedLosses 2023-08-31 NI659773 core:NetGoodwill 2023-08-31 NI659773 bus:SmallEntities 2023-09-01 2024-08-31 NI659773 bus:AuditExemptWithAccountantsReport 2023-09-01 2024-08-31 NI659773 bus:SmallCompaniesRegimeForAccounts 2023-09-01 2024-08-31 NI659773 bus:PrivateLimitedCompanyLtd 2023-09-01 2024-08-31 NI659773 bus:FullAccounts 2023-09-01 2024-08-31 NI659773 core:OfficeEquipment 2023-09-01 2024-08-31 NI659773 core:OfficeEquipment 2023-08-31 NI659773 core:OfficeEquipment 2024-08-31
COMPANY REGISTRATION NUMBER: NI659773
Paul Johnston Associates Ltd
Filleted Unaudited Financial Statements
31 August 2024
Paul Johnston Associates Ltd
Statement of Financial Position
31 August 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
3
15,779
Tangible assets
4
1,732
1,319
-------
--------
1,732
17,098
Current assets
Stocks
5,148
6,951
Debtors
5
19,529
35,569
Cash at bank and in hand
127,205
107,231
---------
---------
151,882
149,751
Creditors: amounts falling due within one year
6
153,024
166,077
---------
---------
Net current liabilities
1,142
16,326
-------
--------
Total assets less current liabilities
590
772
Provisions
Taxation including deferred tax
405
358
----
----
Net assets
185
414
----
----
Capital and reserves
Called up share capital
100
100
Profit and loss account
85
314
----
----
Shareholders funds
185
414
----
----
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the income statement has not been delivered.
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Paul Johnston Associates Ltd
Statement of Financial Position (continued)
31 August 2024
These financial statements were approved by the board of directors and authorised for issue on 15 January 2025 , and are signed on behalf of the board by:
Dr A Kirkpatrick
Dr D W Kelly
Director
Director
Company registration number: NI659773
Paul Johnston Associates Ltd
Notes to the Financial Statements
Year ended 31 August 2024
1. General information
The company is a private company limited by shares, registered in Northern Ireland. The address of the registered office is 58 Greenhill Road, Brookeborough, Co Fermanagh, United Kingdom, BT94 4EH. The principal activity of the company is environmental consulting activities.
2. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Goodwill
-
20% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.
3. Intangible assets
Goodwill
£
Cost
At 1 September 2023 and 31 August 2024
70,716
--------
Amortisation
At 1 September 2023
54,937
Charge for the year
15,779
--------
At 31 August 2024
70,716
--------
Carrying amount
At 31 August 2024
--------
At 31 August 2023
15,779
--------
4. Tangible assets
Equipment
£
Cost
At 1 September 2023
1,759
Additions
991
-------
At 31 August 2024
2,750
-------
Depreciation
At 1 September 2023
440
Charge for the year
578
-------
At 31 August 2024
1,018
-------
Carrying amount
At 31 August 2024
1,732
-------
At 31 August 2023
1,319
-------
5. Debtors
2024
2023
£
£
Trade debtors
19,529
35,569
--------
--------
6. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
1,228
1,212
Social security and other taxes
39,012
24,619
Other creditors
112,784
140,246
---------
---------
153,024
166,077
---------
---------
7. Directors' advances, credits and guarantees
During the year a director provided loans to the company totalling £85,174 which includes nominal interest of £2,000. Cash withdrawn and personal expenses paid by the company on behalf of the director totalled £112,636. The balance owed to the director at 31 August 2024 was £112,784, (2023: £140,246).