John Forrester Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06855602 (England and Wales)

John Forrester Limited

Unaudited Financial Statements

for the Year Ended 31 March 2021

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

J Forrester

REGISTERED OFFICE:

First Floor 19-21 Chapel Brow

Leyland

Preston

Lancashire

PR25 3NH

REGISTERED NUMBER:

06855602 (England and Wales)

ACCOUNTANTS:

McMillan & Co LLP

Chartered Accountants

28 Eaton Avenue

Matrix Office Park

Buckshaw Village

Chorley

Lancashire

PR7 7NA

FIXED ASSETS

Intangible assets

4

60,000

67,500

Tangible assets

5

5,109

6,295

65,109

73,795

CURRENT ASSETS

Amounts recoverable on

contracts

79,486

93,554

Debtors

6

859

741

Cash at bank

116,034

87,309

196,379

181,604

CREDITORS

Amounts falling due within one year

7

80,192

89,286

NET CURRENT ASSETS

116,187

92,318

TOTAL ASSETS LESS CURRENT LIABILITIES

181,296

166,113

PROVISIONS FOR LIABILITIES

8

970

1,196

NET ASSETS

180,326

164,917

CAPITAL AND RESERVES

Called up share capital

9

100

100

Retained earnings

180,226

164,817

SHAREHOLDERS' FUNDS

180,326

164,917

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2021.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2021 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 applicable to companies subject to the small companies regime.

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

The financial statements were approved by the director and authorised for issue on 11 November 2021 and were signed by:

J Forrester - Director

1.	STATUTORY INFORMATION

John Forrester Limited 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 (£).

The amounts in the financial statements have been rounded to the nearest £1.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Revenue is recognised, in respect of contracts where the company's contractual obligations are performed gradually over time, as contract activity progresses to reflect the company's partial performance of its contractual obligations. The amount of revenue reflects the accrual of the right to consideration as contract activity progresses by reference to value of the work performed.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2009, is being amortised evenly over its estimated useful life of twenty years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Financial instruments

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

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2020 - 6 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2020

and 31 March 2021

150,000

AMORTISATION

At 1 April 2020

82,500

Amortisation for year

7,500

At 31 March 2021

90,000

NET BOOK VALUE

At 31 March 2021

60,000

At 31 March 2020

67,500

5.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 April 2020

23,071

Additions

769

Disposals

(5,323

)

At 31 March 2021

18,517

DEPRECIATION

At 1 April 2020

16,776

Charge for year

1,955

Eliminated on disposal

(5,323

)

At 31 March 2021

13,408

NET BOOK VALUE

At 31 March 2021

5,109

At 31 March 2020

6,295

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Prepayments and accrued income

859

741

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2021

2020

£

£

Taxation and social security

45,225

45,355

Other creditors

34,967

43,931

80,192

89,286

Included within other creditors are amounts due to the director of £51,124 (2020: £40,765) these amounts are unsecured, interest free and have no fixed repayment terms.

8.	PROVISIONS FOR LIABILITIES

2021

2020

£

£

Deferred tax

Accelerated capital allowances

970

1,196

Deferred

tax

£

Balance at 1 April 2020

1,196

Credit to Statement of Income and Retained Earnings during year

(226

)

Balance at 31 March 2021

970

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2021

2020

value:

£

£

75

Ordinary A

£1

75

75

25

Ordinary B

£1

25

25

100

100

10.	RELATED PARTY DISCLOSURES

In the director's opinion the company is controlled by Mr J Forrester by virtue of his shareholding.