Johnson & Akam, Limited - Accounts to registrar (filleted) - small 18.2
Johnson & Akam, Limited - Accounts to registrar (filleted) - small 18.2
| REGISTERED NUMBER: |
| Financial Statements for the Year Ended 30 April 2020 |
| for |
| Johnson & Akam, Limited |
| Johnson & Akam, Limited (Registered number: 00044985) |
| Contents of the Financial Statements |
| for the Year Ended 30 April 2020 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| Johnson & Akam, Limited |
| Company Information |
| for the Year Ended 30 April 2020 |
| DIRECTORS: |
| SECRETARY: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| AUDITORS: |
| Chartered Accountants & |
| Statutory Auditors |
| Sterling House |
| 1 Sheepscar Court |
| Meanwood Road |
| Leeds |
| West Yorkshire |
| LS7 2BB |
| BANKERS: |
| Bradford |
| West Yorkshire |
| BD1 1LW |
| Johnson & Akam, Limited (Registered number: 00044985) |
| Balance Sheet |
| 30 April 2020 |
| 2020 | 2019 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 5 |
| CURRENT ASSETS |
| Stocks |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CAPITAL AND RESERVES |
| Called up share capital | 8 |
| Other reserves |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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 and authorised for issue on |
| Johnson & Akam, Limited (Registered number: 00044985) |
| Notes to the Financial Statements |
| for the Year Ended 30 April 2020 |
| 1. | STATUTORY INFORMATION |
| Johnson & Akam, Limited is a |
| 2. | STATEMENT OF COMPLIANCE |
| 3. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis. The Directors have reviewed and considered relevant information in making their assessment. In particular, in response to the COVID-19 pandemic, the Directors have taken into account the impact on their business of possible scenarios brought on by the impact of COVID-19, alongside the measures that they can take to mitigate the impact. Based on these assessments, given the measures that could be undertaken to mitigate the current adverse conditions, and the current resources available, the Directors have concluded as per the Directors Report, that they can continue to adopt the going concern basis in preparing the annual report and accounts |
| Turnover |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| Tangible fixed assets |
| Freehold property | - |
| Plant and machinery | - |
| Stocks |
| Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items. |
| Financial instruments |
| The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares. |
| 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. |
| Johnson & Akam, Limited (Registered number: 00044985) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2020 |
| 3. | ACCOUNTING POLICIES - continued |
| 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. |
| Debtors |
| Short term debtors are measured at transaction price, less any impairment. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. |
| Creditors |
| Short term creditors are measured at the transaction price. |
| Borrowing costs |
| All borrowing costs are recognised in the Profit and loss account in the year in which they are incurred. |
| Provision for liabilities |
| Provisions are made where an event has taken place that gives the Company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to the Profit and loss account in the year that the Company becomes aware of the obligation, and are measured at the best estimate at the Balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the Balance sheet. |
| Employee benefits |
| Short term employee benefits, including holiday pay and other similar non monetary benefits, are recognised as an expense in the period in which they are incurred. |
| 4. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| Johnson & Akam, Limited (Registered number: 00044985) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2020 |
| 5. | TANGIBLE FIXED ASSETS |
| Plant and |
| Land and | machinery |
| buildings | etc | Totals |
| £ | £ | £ |
| COST |
| At 1 May 2019 |
| Additions |
| At 30 April 2020 |
| DEPRECIATION |
| At 1 May 2019 |
| Charge for year |
| At 30 April 2020 |
| NET BOOK VALUE |
| At 30 April 2020 |
| At 30 April 2019 |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade debtors |
| Other debtors |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2020 | 2019 |
| £ | £ |
| Trade creditors |
| Taxation and social security |
| Other creditors |
| 8. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 2020 | 2019 |
| value: | £ | £ |
| Ordinary Shares | 10 | 42,780 | 42,780 |
| Preference Shares | 10 | 6,000 | 6,000 |
| 48,780 | 48,780 |
| Johnson & Akam, Limited (Registered number: 00044985) |
| Notes to the Financial Statements - continued |
| for the Year Ended 30 April 2020 |
| 9. | DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006 |
| The Report of the Auditors was unqualified. |
| for and on behalf of |
| 17 February 2021 |
| However, not all future events or conditions can be predicted. The COVID-19 viral pandemic is one of the most significant economic events for the UK with unprecedented levels of uncertainty of outcomes. It is therefore difficult to evaluate all of the potential implications on the company's trade, customers, suppliers and wider economy. The Director's view on the impact of COVID-19 is disclosed in note 3 to the financial statements. |
| 10. | PENSION COMMITMENTS |
| The company operates a defined contribution pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £10,708 (2019: £28,132). No contributions were payable to the fund at the balance sheet date. |
| 11. | RELATED PARTY TRANSACTIONS |
| At the year end included within creditors were balances of £117,991 (2019: £117,987) owed to the directors. |
| No other transactions with related parties were undertaken such as are required to be disclosed under Section 1A of FRS 102. |