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REGISTERED NUMBER: SC619863 (Scotland)















Financial Statements for the Year Ended 31 January 2025

for

Johnstons of Thurso Ltd

Johnstons of Thurso Ltd (Registered number: SC619863)






Contents of the Financial Statements
for the Year Ended 31 January 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Johnstons of Thurso Ltd

Company Information
for the Year Ended 31 January 2025







DIRECTORS: G S Johnston
D M Johnston
Miss A Johnston





REGISTERED OFFICE: St Clair Bakery
Sinclair Street
THURSO
Caithness
KW14 7AF





REGISTERED NUMBER: SC619863 (Scotland)





ACCOUNTANTS: Reid & Fraser
Chartered Accountants
15 Princes Street
Thurso
Caithness
KW14 7BQ

Johnstons of Thurso Ltd (Registered number: SC619863)

Balance Sheet
31 January 2025

2025 2024
Notes £    £   
FIXED ASSETS
Intangible assets 4 8,800 11,000
Tangible assets 5 47,279 41,153
56,079 52,153

CURRENT ASSETS
Stocks 12,779 10,080
Debtors 6 42,762 23,182
Cash at bank and in hand 69,685 155,343
125,226 188,605
CREDITORS
Amounts falling due within one year 7 (51,775 ) (52,975 )
NET CURRENT ASSETS 73,451 135,630
TOTAL ASSETS LESS CURRENT
LIABILITIES

129,530

187,783

PROVISIONS FOR LIABILITIES - (5,723 )
NET ASSETS 129,530 182,060

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 129,430 181,960
SHAREHOLDERS' FUNDS 129,530 182,060

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 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.

Johnstons of Thurso Ltd (Registered number: SC619863)

Balance Sheet - continued
31 January 2025


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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 May 2025 and were signed on its behalf by:





Miss A Johnston - Director


Johnstons of Thurso Ltd (Registered number: SC619863)

Notes to the Financial Statements
for the Year Ended 31 January 2025

1. STATUTORY INFORMATION

Johnstons of Thurso Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

BASIS OF PREPARING THE FINANCIAL STATEMENTS
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.

TURNOVER
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

GOODWILL
Goodwill, being the amount paid in connection with the acquisition of a business in 2019, is being amortised evenly over its estimated useful life of ten years.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 10% reducing balance
Plant and machinery - 10% reducing balance
Fixtures and fittings - 10% reducing balance
Motor vehicles - 20% reducing balance

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 Income Statement, 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 balance sheet date.

DEFERRED TAX
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

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.

Johnstons of Thurso Ltd (Registered number: SC619863)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

2. ACCOUNTING POLICIES - continued

GOVERNMENT GRANTS
Government grants in respect of capital expenditure are credited to a deferred income account and are released to profit over the expected useful lives of the relevant assets. Grants of a revenue nature are credited to the profit and loss account so as to match them with the expenditure to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 25 (2024 - 25 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 22,000
AMORTISATION
At 1 February 2024 11,000
Charge for year 2,200
At 31 January 2025 13,200
NET BOOK VALUE
At 31 January 2025 8,800
At 31 January 2024 11,000

5. TANGIBLE FIXED ASSETS
Improvements Fixtures
to Plant and and
property machinery fittings
£    £    £   
COST
At 1 February 2024 7,488 34,583 4,495
Additions - - -
Disposals - - -
At 31 January 2025 7,488 34,583 4,495
DEPRECIATION
At 1 February 2024 3,066 13,554 1,841
Charge for year 443 2,103 265
Eliminated on disposal - - -
At 31 January 2025 3,509 15,657 2,106
NET BOOK VALUE
At 31 January 2025 3,979 18,926 2,389
At 31 January 2024 4,422 21,029 2,654

Johnstons of Thurso Ltd (Registered number: SC619863)

Notes to the Financial Statements - continued
for the Year Ended 31 January 2025

5. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 February 2024 26,109 2,615 75,290
Additions 17,295 - 17,295
Disposals (9,495 ) - (9,495 )
At 31 January 2025 33,909 2,615 83,090
DEPRECIATION
At 1 February 2024 15,066 610 34,137
Charge for year 5,046 201 8,058
Eliminated on disposal (6,384 ) - (6,384 )
At 31 January 2025 13,728 811 35,811
NET BOOK VALUE
At 31 January 2025 20,181 1,804 47,279
At 31 January 2024 11,043 2,005 41,153

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 26,256 14,343
Other debtors 16,506 8,839
42,762 23,182

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Bank loans and overdrafts 10,322 -
Trade creditors 26,262 22,652
Other creditors 15,191 30,323
51,775 52,975

Included in other creditors are amounts due in respect of taxation and social security of £6,179 (2024: £13,421)