C.I. JOHNSTONE LIMITED

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

1. General Information

C.I. JOHNSTONE LIMITED is a private company, limited by shares, incorporated in England & Wales, registered number 00488156 . The registered office is Linden Court House, 52 Liverpool treet, Salford, Lancashire, M5 4LT.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

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.

BASIS OF PREPARATION

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

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.

2.3. Investment Properties

Investment property which is directly held is carried at fair value, derived from the current market prices for comparable real estate determined annually by external valuers. The valuers use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss. profit and loss account.

2.4. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period 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 assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

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C.I. JOHNSTONE LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

2.6. Pensions

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.

2.7. TRADE DEBTORS

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according

to the original terms of the receivables.

2.8. TRADE CREDITORS

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

2.9. CASH AND CASH EQUIVALENTS

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 7 (2024: 7)

4. Investment Property

	2025
	£
Fair Value
As at 1 January 2025 and 31 December 2025	245,359

Fair value adjustment

Year ending 31 December 2022 100,000

Year ending 31 December 2023 25,000

Year ending 31 December 2024 0

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Total to 31 December 2024 125,000

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Year ending 31 December 2025 0

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Total to 31 December 2025 125.000

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CAPITAL LOSS

Capital loss available for offset against future capital gains, at the year end amounted to £104,679.

5. Stocks

	2025	2024
	£	£
Stock	34,106	58,287

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C.I. JOHNSTONE LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	999,703	1,009,438
Other debtors	-	6,481

	999,703	1,015,919

Trade debtors include secured loans, valued at amounts advanced together with accrued interest receivable.

Trade debtors have been stated net of disallowed general provisions for bad debt, included in the company accounts.

Bad debt provision

Year ending 31 December 2018 10,000

Year ending 31 December 2019 20,000

Year ending 31 December 2020 30,000

Year ending 31 December 2021 25,000

Year ending 31 December 2022 0

Year ending 31 December 2023 0

Year ending 31 December 2024 20,000

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Total to 31 December 2024 110,000

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Year ending 31 December 2025 0

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Total to 31 December 2025 110,000

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7. Current Asset Investments

	2025	2024
	£	£
Unlisted investments	687,827	714,304

Investments in LLPs 166,267 219,244

Investments in Syndicates 521,561 495,061

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687,828 714,305

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Investment in LLP's comprise share in Rope Walk LLP Osborne Venture LLP, Claxton Grange Venture LLP and Gateway LLP.

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	3,995	64,915
Bank loans and overdrafts	4,396	14,676
Other creditors	118,121	7,119
Taxation and social security	12,632	35,026

	139,144	121,736

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C.I. JOHNSTONE LIMITED

Notes to the Financial Statements (continued)

For The Year Ended 31 December 2025

BORROWINGS

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

The original bank loan was for £50,000 with a 6 year term, being interest free for the first year, with carrying interest at 2.5%pa thereon. The loan is repayable by equal monthly instalments between year 2 and year 6.

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	2,000	2,000

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Investment Properties	4		245,359		245,359

			245,359		245,359
CURRENT ASSETS
Stocks	5	34,106		58,287
Debtors	6	999,703		1,015,919
Investments	7	687,827		714,304
Cash at bank and in hand		121,417		19,424

		1,843,053		1,807,934
Creditors: Amounts Falling Due Within One Year	8	(139,144 )		(121,736 )

NET CURRENT ASSETS (LIABILITIES)			1,703,909		1,686,198

TOTAL ASSETS LESS CURRENT LIABILITIES			1,949,268		1,931,557

NET ASSETS			1,949,268		1,931,557

CAPITAL AND RESERVES
Called up share capital	9		2,000		2,000
Profit and Loss Account			1,947,268		1,929,557

SHAREHOLDERS' FUNDS			1,949,268		1,931,557