Company registration number 01346803 (England and Wales)
JOHNSONS TIMBER SUPPLIES LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
PAGES FOR FILING WITH REGISTRAR
JOHNSONS TIMBER SUPPLIES LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Statement of changes in equity
3
Notes to the financial statements
4 - 8
JOHNSONS TIMBER SUPPLIES LIMITED
BALANCE SHEET
AS AT
31 JANUARY 2025
31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,006,830
1,024,204
Investment properties
5
370,000
370,000
1,376,830
1,394,204
Current assets
Stocks
281,339
279,285
Debtors
6
1,364,732
1,204,197
Cash at bank and in hand
851,820
849,362
2,497,891
2,332,844
Creditors: amounts falling due within one year
7
(761,989)
(733,258)
Net current assets
1,735,902
1,599,586
Total assets less current liabilities
3,112,732
2,993,790
Creditors: amounts falling due after more than one year
8
(22,936)
(52,652)
Provisions for liabilities
(112,333)
(112,677)
Net assets
2,977,463
2,828,461
Capital and reserves
Called up share capital
21,700
21,700
Revaluation reserve
648,951
657,023
Other reserves
50,000
50,000
Profit and loss reserves
2,256,812
2,099,738
Total equity
2,977,463
2,828,461

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 January 2025 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.

T he members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

JOHNSONS TIMBER SUPPLIES LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 JANUARY 2025
31 January 2025
- 2 -

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 11 September 2025 and are signed on its behalf by:
Mr J P Johnson
Director
Company Registration No. 01346803
JOHNSONS TIMBER SUPPLIES LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 JANUARY 2025
- 3 -
Share capital
Revaluation reserve
Profit and loss reserves
Total
Notes
£
£
£
£
£
Balance at 1 February 2023
21,700
417,595
50,000
1,902,108
2,391,403
Year ended 31 January 2024:
Profit
-
-
-
509,774
509,774
Other comprehensive income:
Revaluation of tangible fixed assets
-
255,000
-
-
255,000
Tax relating to other comprehensive income
-
(7,500)
-
-
0
(7,500)
Total comprehensive income
-
247,500
-
509,774
757,274
Dividends
-
-
-
(320,216)
(320,216)
Other movements
-
(8,072)
-
8,072
-
Balance at 31 January 2024
21,700
657,023
50,000
2,099,738
2,828,461
Year ended 31 January 2025:
Profit and total comprehensive income
-
-
-
489,002
489,002
Dividends
-
-
-
(340,000)
(340,000)
Other movements
-
(8,072)
-
8,072
-
Balance at 31 January 2025
21,700
648,951
50,000
2,256,812
2,977,463
JOHNSONS TIMBER SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025
- 4 -
1
Accounting policies
Company information

Johnsons Timber Supplies Limited is a private company limited by shares incorporated in England and Wales. The registered office is 591-603 Warwick Road, Tyseley, Birmingham, West Midlands, B11 2EX.

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 a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties at fair value. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable net of VAT and other sales related taxes on dispatch of goods.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired in 2006. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill has been amortised in full, over a period of 10 years.

1.4
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:

Freehold land and buildings
2% straight line
Plant and equipment
15% reducing balance
Fixtures and fittings
20% reducing balance
Computers
25% reducing balance
Motor vehicles
25% reducing balance

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.

1.5
Investment properties

Investment property is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value a t the reporting end date. Changes in fair value are recognised in the revaluation reserve.

JOHNSONS TIMBER SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 5 -
1.6
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible and intangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.7
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell, after making due allowance for obsolete and slow moving stock where appropriate.

1.8
Cash and cash equivalents

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.

1.9
Financial instruments

Debtors and creditors receivable/payable with a year

Debtors and creditors are recorded at transaction price receivable or payable within one year. Any losses arising from impairment are recognised in the profit and loss account within administrative expenses.

Loans and borrowings

Loans and borrowings are initially recognised at the transaction price including transaction costs. They are subsequently measured at amortised cost using the effective interest rate method, less impairment.

1.10
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.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

1.11
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

JOHNSONS TIMBER SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
1
Accounting policies
(Continued)
- 6 -
1.12
Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

2
Employees

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

2025
2024
Number
Number
Total
21
19
3
Intangible fixed assets
Goodwill
£
Cost
At 1 February 2024 and 31 January 2025
10,000
Amortisation and impairment
At 1 February 2024 and 31 January 2025
10,000
Carrying amount
At 31 January 2025
-
0
At 31 January 2024
-
0
JOHNSONS TIMBER SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 7 -
4
Tangible fixed assets
Land and buildings
Plant and machinery etc
Total
£
£
£
Cost
At 1 February 2024
800,000
800,090
1,600,090
Additions
-
0
69,699
69,699
Disposals
-
0
(10,500)
(10,500)
At 31 January 2025
800,000
859,289
1,659,289
Depreciation and impairment
At 1 February 2024
96,500
479,386
575,886
Depreciation charged in the year
16,000
70,629
86,629
Eliminated in respect of disposals
-
0
(10,056)
(10,056)
At 31 January 2025
112,500
539,959
652,459
Carrying amount
At 31 January 2025
687,500
319,330
1,006,830
At 31 January 2024
703,500
320,704
1,024,204

The fair value of the freehold property has been arrived at on the basis of a valuation carried out in October 2023 by Scanlans Consultant Surveyors LLP, who are not connected to the company. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties and taking into account the condition of the properties.

The historical cost of the freehold property is £396,387 (2024 £396,387).

5
Investment property
2025
£
Fair value
At 1 February 2024 and 31 January 2025
370,000

The fair value of the investment property has been arrived at on the basis of a valuation carried out by the directors at at 31 January 2025. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors have assessed there have been no changes to the value of investment property at 31 January 2025.

The historical cost of the investment property is £249,098.

JOHNSONS TIMBER SUPPLIES LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 JANUARY 2025
- 8 -
6
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
636,900
588,743
Other debtors
710,977
599,158
Prepayments and accrued income
16,855
16,296
1,364,732
1,204,197
7
Creditors: amounts falling due within one year
2025
2024
£
£
Obligations under finance leases
29,716
32,387
Trade creditors
488,888
493,241
Corporation tax
173,669
158,792
Other taxation and social security
63,176
42,507
Other creditors
187
281
Accruals and deferred income
6,353
6,050
761,989
733,258
8
Creditors: amounts falling due after more than one year
2025
2024
£
£
Obligations under finance leases
22,936
52,652

Hire purchase liabilities are secured against the asset to which they relate.

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