Company registration number SC045228 (Scotland)
WILLIAM JOHNSTON & COMPANY LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
WILLIAM JOHNSTON & COMPANY LIMITED
CONTENTS
Page
Company information
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 9
WILLIAM JOHNSTON & COMPANY LIMITED
COMPANY INFORMATION
- 1 -
Directors
Mr W Hardie
Mr R Dawson
Mr C J Edwards
Company number
SC045228
Registered office
9 Spiersbridge Terrace
Thornliebank Industrial Estate
Glasgow
Strathclyde
Scotland
G46 8JH
Accountants
Dains Accountants
169 West George Street
Glasgow
United Kingdom
G2 2LB
WILLIAM JOHNSTON & COMPANY LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2025
31 October 2025
- 2 -
2025
2024
Notes
£
£
£
£
Fixed assets
Tangible assets
3
167,558
145,412
Current assets
Stocks
648,125
580,816
Debtors
4
1,192,183
1,550,975
Cash at bank and in hand
1,655,822
1,231,653
3,496,130
3,363,444
Creditors: amounts falling due within one year
5
(914,788)
(1,212,354)
Net current assets
2,581,342
2,151,090
Total assets less current liabilities
2,748,900
2,296,502
Creditors: amounts falling due after more than one year
6
(37,439)
(6,324)
Provisions for liabilities
7
(37,000)
(31,033)
Net assets
2,674,461
2,259,145
Capital and reserves
Called up share capital
9
681
681
Capital redemption reserve
1,844
1,844
Profit and loss reserves
2,671,936
2,256,620
Total equity
2,674,461
2,259,145

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 October 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 member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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

WILLIAM JOHNSTON & COMPANY LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 OCTOBER 2025
31 October 2025
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 27 June 2026 and are signed on its behalf by:
Mr R Dawson
Director
Company Registration No. SC045228
WILLIAM JOHNSTON & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2025
- 4 -
1
Accounting policies
Company information

William Johnston & Company Limited is a private company limited by shares incorporated in Scotland. The registered office is 9 Spiersbridge Terrace, Thornliebank Industrial Estate, Glasgow, Strathclyde, Scotland, G46 8JH. The company's registration number is SC045228.

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 and presentational 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.

1.2
Turnover

The turnover shown in the profit and loss account represents the value of all goods sold during the year, less returns received, at selling price exclusive of Value Added Tax. Sales are recognised at the point at which the company has fulfilled its contractual obligations and the risks and rewards attaching to the product, such as obsolescence, have been transferred to the customer.

1.3
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:

Improvements to property
15% on cost
Plant and machinery
15-25% on cost
Fixtures and fittings
15-25% on cost
Motor vehicles
15-25% on cost

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 the profit and loss account.

1.4
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible 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.

1.5
Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. Cost represents purchase price.

WILLIAM JOHNSTON & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 5 -
1.6
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.

1.7
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

1.8
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.9
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.

WILLIAM JOHNSTON & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
1
Accounting policies
(Continued)
- 6 -
1.10
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

1.11
Retirement benefits

The company operates defined contribution pension schemes and a small self administered scheme for executives. The assets of the schemes are held separately from those of the company, with the defined contribution schemes independently administered.

Pension contributions payable for the year are charged to the profit and loss account.

1.12
Leases

Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value, and are depreciated in accordance with the above depreciation policies.

Future instalments payable under such agreements, net of finance charges, are included within creditors. Rentals payable are apportioned between the capital element, which reduces the outstanding obligation included within creditors, and the finance element, which is charged to the profit and loss accoun t on a straight line basis.

Rentals payable under operating leases, including any lease incentives received, are charged to the profit and loss account on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the lease s asset are consumed.

2
Employees

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

2025
2024
Total
28
27
WILLIAM JOHNSTON & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 7 -
3
Tangible fixed assets
Improvements to property
Plant and machinery
Fixtures and fittings
Motor vehicles
Total
£
£
£
£
£
Cost
At 1 November 2024
45,188
211,124
138,589
48,225
443,126
Additions
-
0
53,049
1,776
-
0
54,825
At 31 October 2025
45,188
264,173
140,365
48,225
497,951
Depreciation and impairment
At 1 November 2024
36,173
155,178
94,238
12,125
297,714
Depreciation charged in the year
1,847
7,742
14,390
8,700
32,679
At 31 October 2025
38,020
162,920
108,628
20,825
330,393
Carrying amount
At 31 October 2025
7,168
101,253
31,737
27,400
167,558
At 31 October 2024
9,015
55,946
44,351
36,100
145,412
4
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
1,049,318
1,380,869
Other debtors
142,865
170,106
1,192,183
1,550,975
5
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
483,304
655,514
Taxation and social security
258,712
465,606
Other creditors
172,772
91,234
914,788
1,212,354

Included within other creditors are amounts totalling £16,261 (2024 - £nil) relating to h ire purchase contracts which are secured over the assets to which they relate.

WILLIAM JOHNSTON & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 8 -
6
Creditors: amounts falling due after more than one year
2025
2024
£
£
Other creditors
37,439
6,324

Included within other creditors are amounts totalling £32,521 (2024 - £nil) relating to hire purchase contracts which are secured over the assets to which they relate.

7
Provisions for liabilities
2025
2024
£
£
Deferred tax liabilities
8
37,000
31,033
8
Deferred taxation

The following are the major deferred tax liabilities recognised by the company and movements thereon:

2025
2024
Balances:
£
£
Accelerated capital allowances
37,000
31,033
2025
Movements in the year:
£
Liability at 1 November 2024
31,033
Charge to profit or loss
5,967
Liability at 31 October 2025
37,000
9
Called up share capital
2025
2024
£
£
Ordinary share capital
Issued and fully paid
68,124 Ordinary shares of 1p
681
681
WILLIAM JOHNSTON & COMPANY LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2025
- 9 -
10
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2025
2024
£
£
332,384
420,841
11
Related party transactions

Included within other creditors at the balance sheet date are amounts totalling £nil (2024 - £9,320) due to the directors. The se loans are unsecured, interest free and with no fixed terms of repayment in place.

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

No other transactions with related parties were undertaken such as are required to be disclosed under the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland".

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