16 false false false false false false false false false false true false false false false false false No description of principal activity 2024-04-01 Sage Accounts Production Advanced 2024 - FRS102_2024 225,000 146,250 11,250 157,500 67,500 78,750 xbrli:pure xbrli:shares iso4217:GBP 07531383 2024-04-01 2025-03-31 07531383 2025-03-31 07531383 2024-03-31 07531383 2023-04-01 2024-03-31 07531383 2024-03-31 07531383 2023-03-31 07531383 core:NetGoodwill 2024-04-01 2025-03-31 07531383 core:LandBuildings core:OwnedOrFreeholdAssets 2024-04-01 2025-03-31 07531383 core:PlantMachinery 2024-04-01 2025-03-31 07531383 core:FurnitureFittings 2024-04-01 2025-03-31 07531383 core:MotorVehicles 2024-04-01 2025-03-31 07531383 bus:Director1 2024-04-01 2025-03-31 07531383 bus:Director2 2024-04-01 2025-03-31 07531383 core:NetGoodwill 2024-03-31 07531383 core:NetGoodwill 2025-03-31 07531383 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 07531383 core:PlantMachinery 2024-03-31 07531383 core:FurnitureFittings 2024-03-31 07531383 core:MotorVehicles 2024-03-31 07531383 core:LandBuildings core:OwnedOrFreeholdAssets 2025-03-31 07531383 core:PlantMachinery 2025-03-31 07531383 core:FurnitureFittings 2025-03-31 07531383 core:MotorVehicles 2025-03-31 07531383 core:WithinOneYear 2025-03-31 07531383 core:WithinOneYear 2024-03-31 07531383 core:AfterOneYear 2025-03-31 07531383 core:AfterOneYear 2024-03-31 07531383 core:ShareCapital 2025-03-31 07531383 core:ShareCapital 2024-03-31 07531383 core:RetainedEarningsAccumulatedLosses 2025-03-31 07531383 core:RetainedEarningsAccumulatedLosses 2024-03-31 07531383 core:NetGoodwill 2024-03-31 07531383 core:LandBuildings core:OwnedOrFreeholdAssets 2024-03-31 07531383 core:PlantMachinery 2024-03-31 07531383 core:FurnitureFittings 2024-03-31 07531383 core:MotorVehicles 2024-03-31 07531383 bus:SmallEntities 2024-04-01 2025-03-31 07531383 bus:AuditExemptWithAccountantsReport 2024-04-01 2025-03-31 07531383 bus:SmallCompaniesRegimeForAccounts 2024-04-01 2025-03-31 07531383 bus:PrivateLimitedCompanyLtd 2024-04-01 2025-03-31 07531383 bus:FullAccounts 2024-04-01 2025-03-31 07531383 core:AfterOneYear 2024-04-01 2025-03-31 07531383 1 2024-04-01 2025-03-31
COMPANY REGISTRATION NUMBER: 07531383
JOHNSON PACKAGING LTD
FILLETED UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED
31 March 2025
JOHNSON PACKAGING LTD
STATEMENT OF FINANCIAL POSITION
31 March 2025
2025
2024
Note
£
£
Fixed assets
Intangible assets
5
67,500
78,750
Tangible assets
6
746,169
723,478
-----------
-----------
813,669
802,228
Current assets
Stocks
72,108
81,638
Debtors
7
440,385
453,788
Cash at bank and in hand
179,141
269,362
-----------
-----------
691,634
804,788
Creditors: amounts falling due within one year
8
350,955
416,109
-----------
-----------
Net current assets
340,679
388,679
--------------
--------------
Total assets less current liabilities
1,154,348
1,190,907
Creditors: amounts falling due after more than one year
9
15,980
26,969
Provisions
51,934
73,647
--------------
--------------
Net assets
1,086,434
1,090,291
--------------
--------------
JOHNSON PACKAGING LTD
STATEMENT OF FINANCIAL POSITION (continued)
31 March 2025
2025
2024
Note
£
£
Capital and reserves
Called up share capital
2
2
Profit and loss account
1,086,432
1,090,289
--------------
--------------
Shareholders funds
1,086,434
1,090,291
--------------
--------------
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 statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 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 .
These financial statements were approved by the board of directors and authorised for issue on 16 June 2025 , and are signed on behalf of the board by:
K Johnson
P Johnson
Director
Director
Company registration number: 07531383
JOHNSON PACKAGING LTD
NOTES TO THE FINANCIAL STATEMENTS
YEAR ENDED 31 MARCH 2025
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Tower House, Lucy Tower Street, Lincoln, LN1 1XW, England.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. 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.
Goodwill
Goodwill arises on business acquisitions and represents the excess of the cost of the acquisition over the company's interest in the net amount of the identifiable assets, liabilities and contingent liabilities of the acquired business. Goodwill is measured at cost less accumulated amortisation and accumulated impairment losses. It is amortised on a straight-line basis over its useful life. Where a reliable estimate of the useful life of goodwill or intangible assets cannot be made, the life is presumed not to exceed ten years.
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
-
5% 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.
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:
Freehold property
-
2% straight line
Plant and machinery
-
25% straight line
Fixtures and fittings
-
15% straight line
Motor vehicles
-
15% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
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.
Finance leases and hire purchase contracts
Assets held under finance leases and hire purchase contracts are recognised in the statement of financial position as assets and liabilities at the lower of the fair value of the assets and the present value of the minimum lease payments, which is determined at the inception of the lease term. Any initial direct costs of the lease are added to the amount recognised as an asset. Lease payments are apportioned between the finance charges and reduction of the outstanding lease liability using the effective interest method. Finance charges are allocated to each period so as to produce a constant rate of interest on the remaining balance of the liability.
Financial instruments
A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are recognised at fair value, with any subsequent changes to fair value recognised in profit or loss.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 16 (2024: 14 ).
5. Intangible assets
Goodwill
£
Cost
At 1 April 2024 and 31 March 2025
225,000
-----------
Amortisation
At 1 April 2024
146,250
Charge for the year
11,250
-----------
At 31 March 2025
157,500
-----------
Carrying amount
At 31 March 2025
67,500
-----------
At 31 March 2024
78,750
-----------
6. Tangible assets
Freehold property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 April 2024
428,648
552,329
122,229
226,389
1,329,595
Additions
115,000
2,500
117,500
-----------
-----------
-----------
-----------
--------------
At 31 March 2025
543,648
554,829
122,229
226,389
1,447,095
-----------
-----------
-----------
-----------
--------------
Depreciation
At 1 April 2024
12,858
405,116
88,339
99,804
606,117
Charge for the year
4,286
54,411
7,163
28,949
94,809
-----------
-----------
-----------
-----------
--------------
At 31 March 2025
17,144
459,527
95,502
128,753
700,926
-----------
-----------
-----------
-----------
--------------
Carrying amount
At 31 March 2025
526,504
95,302
26,727
97,636
746,169
-----------
-----------
-----------
-----------
--------------
At 31 March 2024
415,790
147,213
33,890
126,585
723,478
-----------
-----------
-----------
-----------
--------------
7. Debtors
2025
2024
£
£
Trade debtors
294,004
392,271
Other debtors
146,381
61,517
-----------
-----------
440,385
453,788
-----------
-----------
8. Creditors: amounts falling due within one year
2025
2024
£
£
Bank loans and overdrafts
24,000
Trade creditors
228,968
296,403
Corporation tax
68,566
31,861
Social security and other taxes
38,140
41,682
Other creditors
15,281
22,163
-----------
-----------
350,955
416,109
-----------
-----------
Included within other creditors is a balance of £11,981 (2024: £19,013) relating to assets held under hire purchase.
9. Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
15,980
26,969
---------
---------
Included within other creditors is a balance of £15,980 (2024: £26,969) relating to assets held under hire purchase.
10. Directors' advances, credits and guarantees
At the beginning of the year the directors loan account was overdrawn by £47,504. This balance was repaid in full in July 2024. During the year, new advances were made to the directors of amounts totalling £132,835. Interest has been charged on all loans at the rate of 2.25% per annum.
11. Related party transactions
No transactions with related parties were undertaken such as are required to be disclosed under FRS102 (Section 1A).
12. Controlling party
The company was under the control of the directors throughout the current and previous year.