K_JOHNSON_LTD - Accounts

K.JOHNSON LIMITED - Company Information

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Company Registration No. 03676630 (England and Wales)

K JOHNSON LTD

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2016

K JOHNSON LTD

CONTENTS

Page

Abbreviated balance sheet

Notes to the abbreviated accounts

2 - 3

K JOHNSON LTD

ABBREVIATED BALANCE SHEET

AS AT

31 MARCH 2016

- 1 -

2016

2015

Notes

Fixed assets

Intangible assets

483,699

645,196

Tangible assets

7,410

11,977

491,109

657,173

Current assets

Debtors

1,124,932

553,622

Cash at bank and in hand

150,732

510,707

1,275,664

1,064,329

Creditors: amounts falling due within one year

(402,104)

(547,434)

Net current assets

873,560

516,895

Total assets less current liabilities

1,364,669

1,174,068

Provisions for liabilities

(1,283)

(2,153)

1,363,386

1,171,915

Capital and reserves

Called up share capital

Profit and loss account

1,363,384

1,171,913

Shareholders' funds

1,363,386

1,171,915

For the financial year ended 31 March 2016 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 financial statements for the year in question in accordance with section 476;

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

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

Approved by the Board for issue on 8 October 2016

Mr K Johnson

Mrs C A Johnson

Director

Company Registration No. 03676630

K JOHNSON LTD

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 MARCH 2016

- 2 -

Accounting policies

1.1

Accounting convention

The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

1.2

Compliance with accounting standards

The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).

1.3

Turnover

Turnover represents the amounts of stake money placed by customers.

1.4

Seniority Positions

Seniority Positions are written off in instalments over their estimated useful economic life.

1.5

Tangible fixed assets and depreciation

Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:

Plant and machinery

33% Straight Line

Motor vehicles

25% Reducing Balance

Fixed assets

Intangible assets

Tangible assets

Total

Cost

At 1 April 2015

1,355,919

82,795

1,438,714

Additions

97,118

Disposals

(225,794)

At 31 March 2016

1,227,243

82,795

1,310,038

Depreciation

At 1 April 2015

710,723

70,818

781,541

On disposals

(101,525)

Charge for the year

134,346

4,567

138,913

At 31 March 2016

743,544

75,385

818,929

Net book value

At 31 March 2016

483,699

7,410

491,109

At 31 March 2015

645,196

11,977

657,173

K JOHNSON LTD

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 MARCH 2016

- 3 -

Share capital

2016

2015

Allotted, called up and fully paid

2 Ordinary of £1 each

Related party relationships and transactions

Directors loan

The Directors have provided the company with working capital in the form of an interest free loan. As at 31st March 2016 and included within 'Creditors: amounts due within one year' is a loan from the Directors amounting to £313,434 (2015: £414,108).