Johnson Smith & Co Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04009191 (England and Wales)

Unaudited Financial Statements for the Year Ended 30 June 2018

for

Johnson Smith & Co Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

M Brooks

M I Ullah

REGISTERED OFFICE:

Centurion House

London Road

Staines-Upon-Thames

Surrey

TW18 4AX

REGISTERED NUMBER:

04009191 (England and Wales)

FIXED ASSETS

Tangible assets

4

5

539

CURRENT ASSETS

Debtors

5

174,843

109,141

Cash at bank

18,347

41,149

193,190

150,290

CREDITORS

Amounts falling due within one year

6

(174,280

)

(133,448

)

NET CURRENT ASSETS

18,910

16,842

TOTAL ASSETS LESS CURRENT LIABILITIES

18,915

17,381

CAPITAL AND RESERVES

Called up share capital

7

100

100

Retained earnings

8

18,815

17,281

SHAREHOLDERS' FUNDS

18,915

17,381

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2018 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 28 March 2019 and were signed on its behalf by:

M Brooks - Director

1.	STATUTORY INFORMATION

Johnson Smith & Co Ltd 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Revenue represents amounts due from clients for professional services provided during the year. The Revenue is

measured at the fair value of consideration received or receivable oneach client assignment, including expenses

and disbursements and excluding Value Added Tax. Revenue isrecognised when the amount can be reliably

measured andit is probable that future economic benefits will flow. Revenue recognition occurs in the period in

which services are rendered by reference to the stage of completion.

Unbilled revenue on individual assignments is included as unbilled amounts for client work within trade and

other debtors.

Fixed assets

All fixed assets are initially recorded at cost.

Depreciation

Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful

economic life of that assets as follows:

Computer equipment - 33% straight line

Financial instruments

Financial instruments are classified and accounted for, according to the substance of the contractual arrangement,

as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that

evidences a residual interest in the assets of the company after deducting all of its liabilities.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance

sheet date where transactions or events have occurred at that date that will result in an obligation to pay more, or

a right to pay less or to receive more tax, with the following exceptions:

Provision is made for tax on gains arising from the revaluation ( and similar fair value adjustments) of fixed

assets, and gains on disposal of fixed assets that have been rolled over into replacement assets, only to the extent

that, at the balance sheet date, there is a binding agreement to dispose of the assets concerned. However, no

provision is made where, on the basis of all available evidence at the balance sheet date, it is more likely than not

that the taxable gain will be rolled over into replacement assets and charged to tax only where the replacement

assets are sold.

Deferred tax assets are recognised only to the extent that the directors consider that it is more likely than not that

there will be suitable taxable profits from which the future reversal of the underlying timing differences can be

deducted.

Deferred tax is measured on an undiscovered basis at the tax rates that are expected to apply in the periods in

which timing differences reverse, based on tax rates and laws enacted or substantively enacted at the balance

sheet date.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2017 - 5 ) .

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 July 2017

and 30 June 2018

10,861

DEPRECIATION

At 1 July 2017

10,322

Charge for year

534

At 30 June 2018

10,856

NET BOOK VALUE

At 30 June 2018

5

At 30 June 2017

539

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade debtors

103,422

96,110

Other debtors

71,421

13,031

174,843

109,141

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

30.6.18

30.6.17

£

£

Trade creditors

110,730

110,365

Taxation and social security

1,755

946

Other creditors

61,795

22,137

174,280

133,448

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30.6.18

30.6.17

value:

£

£

100

Ordinary shares

£1

100

100

8.

RESERVES

Retained

earnings

£

At 1 July 2017

17,281

Profit for the year

1,534

At 30 June 2018

18,815

9.	CAPITAL COMMITMENTS

30.6.18

30.6.17

£

£

Contracted but not provided for in the

financial statements

-

-

10.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 30 June 2018 and

30 June 2017:

30.6.18

30.6.17

£

£

M Brooks

Balance outstanding at start of year

(10

)

(10

)

Amounts repaid

-

-

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

(10

)

(10

)

11.	RELATED PARTY DISCLOSURES

In the course of normal operations, related party transactions entered into by the company have been contracted

on an arms-length basis.

At the balance sheet date, the company owed sums of £19,462 (2017: £29,443 ) to director M Brooks and sums

of £35,234 (2017: £41,235) to another director M I Ullah.

12.	POST BALANCE SHEET EVENTS

There are no post balance sheet events which require disclosure in accounts.

13.	ULTIMATE CONTROLLING PARTY

The ultimate controlling party is M Brooks.