REGISTERED NUMBER: 02677180 (England and Wales)

AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

JOHNSONS FINANCIAL MANAGEMENT LIMITED

Page

Company information

1

Abridged balance sheet

2

Notes to the financial statements

3

DIRECTOR:

J S Thomson

REGISTERED OFFICE:

1-2 Craven Road

London

W5 2UA

REGISTERED NUMBER:

02677180 (England and Wales)

SENIOR STATUTORY AUDITOR:

Andrew R Cook ACA

AUDITORS:

Andrew R Cook Chartered Accountants

Northfield House

Shurdington Road

Bentham

Cheltenham

Gloucestershire

GL51 4UA

FIXED ASSETS

Intangible assets

4

1,711,061

1,410,119

Tangible assets

5

188,353

208,456

1,899,414

1,618,575

CURRENT ASSETS

Stocks

1,288,568

1,074,077

Debtors

1,787,355

2,358,870

Prepayments and accrued income

108,723

81,352

Cash in hand

542,412

178,105

3,727,058

3,692,404

CREDITORS

Amounts falling due within one year

(1,753,714

)

(663,668

)

NET CURRENT ASSETS

1,973,344

3,028,736

TOTAL ASSETS LESS CURRENT LIABILITIES

3,872,758

4,647,311

CREDITORS

Amounts falling due after more than one year

6

(974,967

)

(833,844

)

PROVISIONS FOR LIABILITIES

24,046

(357,640

)

NET ASSETS

2,921,837

3,455,827

CAPITAL AND RESERVES

Called up share capital

202

202

Retained earnings

2,921,635

3,455,625

2,921,837

3,455,827

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Income statement and an abridged Balance sheet for the year ended 31 December 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 7 May 2025 and were signed by:

J S Thomson - Director

1.	STATUTORY INFORMATION

Johnsons Financial Management Limited is a private company, limited by shares , registered in England and Wales. 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

Customer lists, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of ten years.

INTANGIBLE ASSETS

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

An impairment loss has been recognised in the Income statement, following an assessment at the Balance sheet date indicating the recoverable amount was less than its carrying value.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Computer software 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.

Plant and machinery etc

-

33% on reducing balance, 25% on reducing balance and Straight line over 6 years

STOCKS

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 76 (2023 - 65 ) .

4.	INTANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

2,906,754

Additions

614,560

At 31 December 2024

3,521,314

AMORTISATION

At 1 January 2024

1,496,635

Amortisation for year

313,618

At 31 December 2024

1,810,253

NET BOOK VALUE

At 31 December 2024

1,711,061

At 31 December 2023

1,410,119

5.	TANGIBLE FIXED ASSETS

Totals

£

COST

At 1 January 2024

439,841

Additions

87,163

At 31 December 2024

527,004

DEPRECIATION

At 1 January 2024

231,385

Charge for year

109,261

Eliminated on disposal

(1,995

)

At 31 December 2024

338,651

NET BOOK VALUE

At 31 December 2024

188,353

At 31 December 2023

208,456

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2024

2023

£

£

Repayable by instalments

Other loans more 5yrs instal

369,015

-

7.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the auditors was unqualified.

Andrew R Cook ACA (Senior Statutory Auditor)

for and on behalf of Andrew R Cook Chartered Accountants

Andrew R. Cook Chartered Accountants

Northfield House, Shurdington Road, Cheltenham, GL51 4UA

8.	OTHER FINANCIAL COMMITMENTS

The company has several non-credit related financial commitments as follows:

2024

2023

£

£

Rent Commitments over periods of 18 months to 20 years

4,805,700

109,500

Vehicles leases over periods of 4 years to 4.5 years

95,243

58,891

Leaselines

9,600

19,200

4,910,543

187,591

9.	ULTIMATE CONTROLLING PARTY

The controlling party is J S Thomson.

The ultimate controlling party is J S Thomson.