Company registration number SC441175 (Scotland)
JOHN JACKSON AND DICK LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
JOHN JACKSON AND DICK LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 7
JOHN JACKSON AND DICK LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
3
200,046
153,000
Tangible assets
4
72,066
78,436
272,112
231,436
Current assets
Debtors
5
340,739
304,158
Cash at bank and in hand
316,297
194,620
657,036
498,778
Creditors: amounts falling due within one year
6
(395,362)
(342,437)
Net current assets
261,674
156,341
Total assets less current liabilities
533,786
387,777
Creditors: amounts falling due after more than one year
7
(20,526)
(33,113)
Provisions for liabilities
(10,734)
(11,444)
Net assets
502,526
343,220
Capital and reserves
Called up share capital
10,000
10,000
Profit and loss reserves
492,526
333,220
Total equity
502,526
343,220
JOHN JACKSON AND DICK LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 MARCH 2024
31 March 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 17 March 2025 and are signed on its behalf by:
MR E C STIRRAT
MRS P C MILLIGAN
Mr E C Stirrat
Mrs P C Milligan
Director
Director
Company Registration No. SC441175
JOHN JACKSON AND DICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

John Jackson and Dick Limited is a private company limited by shares incorporated in Scotland. The registered office is 48 - 50 Cadzow Street, Hamilton, South Lanarkshire, United Kingdom, ML3 6DU.

1.1
Accounting convention

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. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

1.3
Turnover

Turnover is measured at the fair value of the consideration received or receivable.

 

Turnover represents net invoiced sales of services excluding value added tax, from the company's principal activity being that of solicitors and notaries.

 

Unbilled work is recognised as turnover in accordance with FRS 102 and is included within Debtors as Amounts Recoverable on Contracts.

 

 

1.4
Intangible fixed assets - goodwill

Historical goodwill represents the excess of the cost of acquisition of an unincorporated business over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is considered to have a finite useful life and is amortised on a systematic basis over its expected life, which is ten and twenty years.

 

 

 

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Tenant Improvements
Straight line over 15 and 25 years.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

JOHN JACKSON AND DICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
1.6
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and funds held in the bank.

1.7
Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. These are measured at amortised cost and are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of comprehensive income.

1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

1.9
Retirement benefits

The company operates a defined contribution plan for it's employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations. The contributions are recognised as an expense in the Statement of comprehensive income when they fall due. Amounts not paid are shown in accruals as a liability in the Balance sheet. The assets of the plan are held separately from the company in independently administered funds.

1.10
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

1.11
Government grants

Grants received towards the cost of tangible fixed assets are included in other creditors as deferred income and are credited to the profit and loss account over the term of the lease.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
15
13
JOHN JACKSON AND DICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
3
Intangible fixed assets
Goodwill
£
Cost
At 1 April 2023
255,000
Additions
63,500
At 31 March 2024
318,500
Amortisation and impairment
At 1 April 2023
102,000
Amortisation charged for the year
16,454
At 31 March 2024
118,454
Carrying amount
At 31 March 2024
200,046
At 31 March 2023
153,000
4
Tangible fixed assets
Land and buildings
£
Cost
At 1 April 2023 and 31 March 2024
98,035
Depreciation and impairment
At 1 April 2023
19,599
Depreciation charged in the year
6,370
At 31 March 2024
25,969
Carrying amount
At 31 March 2024
72,066
At 31 March 2023
78,436
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
70,294
50,417
Amounts recoverable on contracts
208,000
215,000
Other debtors
62,445
38,741
340,739
304,158
JOHN JACKSON AND DICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 6 -
6
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
10,000
10,000
Taxation and social security
165,972
89,852
Other creditors
219,390
242,585
395,362
342,437
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
11,667
21,667
Other loans
8,859
11,446
20,526
33,113
8
Acquisition

On 4 August 2023 the company acquired the unincorporated business of Robert Ferguson & Sons.

Fair Value
£
Goodwill
63,500
Total consideration
63,500
Satisfied by:
£
Goodwill
63,500
JOHN JACKSON AND DICK LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 7 -
9
Operating lease commitments

Non-cancellable operating lease - commitments over the remaining life of the lease fall due as follows:

2024
2023
£
£
Within one year
43,000
43,000
Between two and five years
172,000
172,000
In over five years
222,334
265,334
437,334
480,334
10
Related party transactions

During the year, the company made advances to the directors of £121,520 and received credits of £70,000 resulting in a balance due to the directors at the year end of £170,874 (2023 - £222,394).

 

There are no set repayment terms, nor is interest charged on the outstanding balances due.

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