Company Registration number: 01092205

Johnston & Bulman Limited

Contents

Pages

Balance sheet	1 to 2
Notes to the financial statements	3 to 7

Johnston & Bulman Limited

Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	27,995	15,065
Current assets
Stocks	5	154,198	159,992
Debtors	6	92,421	127,006
Cash at bank and in hand		10,636	15,403
		257,255	302,401
Creditors: Amounts falling due within one year	7	(113,716)	(146,908)
Net current assets		143,539	155,493
Total assets less current liabilities		171,534	170,558
Provisions for liabilities		(5,319)	(2,862)
Net assets		166,215	167,696
Capital and reserves
Called up share capital		10,004	10,004
Retained earnings		156,211	157,692
Shareholders' funds		166,215	167,696

Johnston & Bulman Limited

Balance Sheet as at 31 December 2024 (continued)

For the financial year ending 31 December 2024 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 accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Company registration number: 01092205

Approved and authorised by the Board on 12 September 2025 and signed on its behalf by:
 

......................................... Mr D E Bulman Director

......................................... Mr P G Bulman Director

......................................... Mr J R Norwood Director

......................................... Mr R Norwood Director

Johnston & Bulman Limited

Notes to the financial statements for the Year Ended 31 December 2024

1	GENERAL INFORMATION

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Lancaster Street
Carlisle
CA1 1TD
 

These financial statements were authorised for issue by the Board on 12 September 2025.

2	ACCOUNTING POLICIES

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

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

Judgements and key sources of estimation uncertainty

The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances. Actual results may differ from these estimates.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Johnston & Bulman Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
 

The current corporation tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Furniture, fittings and equipment	15% Reducing balance
Motor vehicles	25% Straight line
Computer equipment	25% Straight line

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Johnston & Bulman Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

2	ACCOUNTING POLICIES (continued)

Financial instruments

Classification
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
 Recognition and measurement
Basic financial instruments are initially recognised at the transaction price.
 Impairment
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

3	STAFF NUMBERS

The average number of persons employed by the company (including directors) during the year, was 7 (2023 - 8).

Johnston & Bulman Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

4	TANGIBLE ASSETS

	Furniture, fittings and equipment  £	Motor vehicles  £	Computer equipment £	Total £
Cost or valuation
At 1 January 2024	46,333	16,690	24,620	87,643
Additions	-	18,947	-	18,947
Disposals	-	(16,690)	-	(16,690)
At 31 December 2024	46,333	18,947	24,620	89,900
Depreciation
At 1 January 2024	38,117	16,690	17,771	72,578
Charge for the year	1,232	2,368	2,417	6,017
Eliminated on disposal	-	(16,690)	-	(16,690)
At 31 December 2024	39,349	2,368	20,188	61,905
Carrying amount
At 31 December 2024	6,984	16,579	4,432	27,995
At 31 December 2023	8,216	-	6,849	15,065

5

STOCKS

	2024 £	2023 £
Stocks	154,198	159,992

6

DEBTORS

Current	2024 £	2023 £
Trade debtors	88,430	123,219
Prepayments	3,991	3,787
	92,421	127,006

Johnston & Bulman Limited

Notes to the financial statements for the Year Ended 31 December 2024 (continued)

7

CREDITORS

Creditors: amounts falling due within one year

	Note	2024 £	2023 £
Due within one year
Loans and borrowings	8	21,202	41,614
Trade creditors		44,318	61,591
Taxation and social security		36,486	32,417
Accruals and deferred income		3,840	3,416
Other creditors		7,870	7,870
		113,716	146,908

8	LOANS AND BORROWINGS

Current loans and borrowings

	2024 £	2023 £
Bank overdrafts	21,202	41,614