John Mathieson (Footfitters) Limited - Period Ending 2019-01-31

Registration number: SC039970

John Mathieson (Footfitters) Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 31 January 2019

Roffe Swayne
Ashcombe Court
Woolsack Way
Godalming
Surrey
GU7 1LQ

John Mathieson (Footfitters) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 6

John Mathieson (Footfitters) Limited

Company Information

Directors

Mrs S Mathieson Miss AE Mathieson

Registered office

51A High Street Kirkcaldy, Fife KY1 1LJ

Accountants

Roffe Swayne Ashcombe Court Woolsack Way Godalming Surrey GU7 1LQ

Page 1

John Mathieson (Footfitters) Limited

(Registration number: SC039970)
Balance Sheet as at 31 January 2019

	Note	2019 £	2018  £
Fixed assets
Tangible assets	4	2,982	2,575
Investments		380,603	380,603
		383,585	383,178
Current assets
Debtors	6	-	145,578
Cash at bank and in hand		453,788	349,921
		453,788	495,499
Creditors: Amounts falling due within one year	7	(69,297)	(19,882)
Net current assets		384,491	475,617
Net assets		768,076	858,795
Capital and reserves
Called up share capital		23,457	23,457
Profit and loss account		744,619	835,338
Total equity		768,076	858,795

For the financial year ending 31 January 2019 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 in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 10 October 2019 and signed on its behalf by:
 

Miss AE Mathieson
Director

The notes on pages 3 to 6 form an integral part of these financial statements.

Page 2

John Mathieson (Footfitters) Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

1	General information

The company is a private company limited by share capital, incorporated in Scotland. The company's registered number and registered office address can be found on the Company Information page.

2	Accounting policies

Preparation of consolidated financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - '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 as modified by the revaluation of certain assets.

The financial statements contain information about John Mathieson (Footfitters) Limited as an individual company and do not contain consolidated financial information as the parent of the group. The company has taken the option under Section 398 of the Companies Act 2006 not to prepare consolidated financial statements.

Tax

The tax expense for the period comprises current 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 income 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 that have originated but not reversed at the balance sheet date.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Fixtures and fittings	10% on reducing balance

Investments

Investments in subsidiary undertakings are stated at cost less a provision for any permanent diminution in value.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Page 3

John Mathieson (Footfitters) Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2018 - 2).

4	Tangible assets

	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 February 2018	7,615	7,615
Additions	1,208	1,208
Disposals	(1,494)	(1,494)
At 31 January 2019	7,329	7,329
Depreciation
At 1 February 2018	5,040	5,040
Charge for the year	379	379
Eliminated on disposal	(1,072)	(1,072)
At 31 January 2019	4,347	4,347
Carrying amount
At 31 January 2019	2,982	2,982
At 31 January 2018	2,575	2,575

Page 4

John Mathieson (Footfitters) Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

5	Investments

	2019 £	2018 £
Investments in subsidiaries	380,603	380,603

Subsidiaries	£
Cost or valuation
At 1 February 2018	380,603
Provision
Carrying amount
At 31 January 2019	380,603
At 31 January 2018	380,603

6

Debtors

	Note	2019 £	2018 £
Amounts owed by group undertakings and undertakings in which the company has a participating interest	9	-	145,578
		-	145,578

7

Creditors

	Note	2019 £	2018 £
Due within one year
Amounts owed to group undertakings and undertakings in which the company has a participating interest	9	67,982	-
Taxation and social security		1,242	1,249
Corporation tax		-	12,500
Directors' current account		73	6,133
		69,297	19,882

Page 5

John Mathieson (Footfitters) Limited

Notes to the Financial Statements for the Year Ended 31 January 2019

8	Share capital

Allotted, called up and fully paid shares

	2019		2018
	No.	£	No.	£
A ordinary of £1 each	5,866	5,866	5,866	5,866
B ordinary of £1 each	17,591	17,591	17,591	17,591
	23,457	23,457	23,457	23,457

9	Related party transactions

Expenditure with and payables to related parties

2019	Key management £
Amounts payable to related party	73

2018	Key management £
Amounts payable to related party	6,133

Loans from related parties

Terms of loans from related parties

The amount due is a loan balance that has no formal terms, is interest free and repayable on demand.
 

10	Prior year adjustment

During the year, an adjustment has been made to reclassify the capital redemption reserve as profit and loss reserves, where the balance related to the revaluation of properties previously disposed of.

Page 6