Company registration number SC513271 (Scotland)
JOHNSON MARINE SCOTLAND LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
JOHNSON MARINE SCOTLAND LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 3
JOHNSON MARINE SCOTLAND LIMITED
BALANCE SHEET
AS AT 31 AUGUST 2024
31 August 2024
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
850,000
-
Current assets
Debtors
4
1,300
-
Cash at bank and in hand
7,976
290
9,276
290
Creditors: amounts falling due within one year
5
(872,530)
(12,740)
Net current liabilities
(863,254)
(12,450)
Net liabilities
(13,254)
(12,450)
Capital and reserves
Called up share capital
75
75
Profit and loss reserves
(13,329)
(12,525)
Total equity
(13,254)
(12,450)
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 August 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 22 May 2025 and are signed on its behalf by:
I JOHNSON
I Johnson
Director
Company Registration No. SC513271
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JOHNSON MARINE SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 AUGUST 2024
1
Accounting policies
Company information
Johnson Marine Scotland Limited is a private company limited by shares incorporated in Scotland. The registered office is Marine Park, Vidlin, Shetland, ZE2 9QB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
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 true31 August 2024 the company has net current liabilities of £863,254 (2023 - £12,450). Included within these liabilities are amounts due to the directors of £850,000 (2023 - NIL). The financial statements are prepared on a going concern basis, which assumes that the company will continue to meet its liabilities as they fall due. The related party has confirmed they shall not seek repayment of amounts due to the detriment of other creditors. Furthermore the related party has confirmed they shall continue to support the company to facilitate its ability to continue trading as a going concern for the foreseeable future.
1.3
Cash at bank and in hand
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.4
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade 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.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
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JOHNSON MARINE SCOTLAND LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 AUGUST 2024
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
850,000
-
Movements in fixed asset investments
Investments
£
Cost or valuation
At 1 September 2023
-
Additions
850,000
At 31 August 2024
850,000
Carrying amount
At 31 August 2024
850,000
At 31 August 2023
-
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
1,300
-
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
7,800
-
Other creditors
863,400
11,410
Accruals and deferred income
1,330
1,330
872,530
12,740
6
Related party transactions
During the current year the company received credits of £850,000 from the directors, resulting in amounts due by the company at the year end of £850,000 (2023 - NIL).
The loan is unsecured and interest free with no fixed repayment terms in place.
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