Johnson & Smith (Lincoln) Limited - Abbreviated accounts 16.3

REGISTERED NUMBER: 06398387 (England and Wales)

JOHNSON & SMITH (LINCOLN) LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 MAY 2016

Page

Company Information

1

Abbreviated Balance Sheet

2

to

3

Notes to the Abbreviated Accounts

4

to

5

Chartered Accountants' Report

6

DIRECTORS:

P A Johnson

Mrs D D L Johnson

SECRETARY:

Mrs D D L Johnson

REGISTERED OFFICE:

The Barn

Branston Lodge Farm

Branston Booths

Lincoln

Lincolnshire

LN4 1JE

REGISTERED NUMBER:

06398387 (England and Wales)

ACCOUNTANTS:

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

FIXED ASSETS

Tangible assets

2

118,095

110,205

CURRENT ASSETS

Debtors

707,551

646,989

Cash at bank and in hand

362,053

223,086

1,069,604

870,075

CREDITORS

Amounts falling due within one year

785,851

676,856

NET CURRENT ASSETS

283,753

193,219

TOTAL ASSETS LESS CURRENT LIABILITIES

401,848

303,424

CREDITORS

Amounts falling due after more than one
year

(71,257

)

(69,757

)

PROVISIONS FOR LIABILITIES

(20,416

)

(17,770

)

NET ASSETS

310,175

215,897

CAPITAL AND RESERVES

Called up share capital

3

100

Profit and loss account

310,075

215,797

SHAREHOLDERS' FUNDS

310,175

215,897

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2016.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2016 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 9 February 2017 and were signed on its behalf
by:

P A Johnson - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention and in accordance with the

Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover

Turnover represents amounts charged to customers for goods and services provided during the year, excluding

value added tax and trade discounts.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on reducing balance

Fixtures and fittings

-

20% on reducing balance

Motor vehicles

-

25% on reducing balance

Computer equipment

-

25% on cost

Deferred tax

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

balance sheet date.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those

held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance

leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to the profit and loss account over the relevant period.

The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the

period of the lease.

Amounts recoverable on contracts

Revenue is recognised on contracts in accordance with Financial Reporting Standard 5 'Reporting the

substance of transactions: Application Note G Revenue Recognition' where the company has obtained a right

to consideration. Turnover recognised in this manner is based on an assessment of the fair value of the goods

and services provided at the balance sheet date as a proportion of the total value of the contract. Provision is

made against unfilled amounts on those contracts where the right to receive payment is contingent on factors

outside the control of the company. Unfilled revenue is included in debtors.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 June 2015

235,579

Additions

54,473

Disposals

(19,450

)

At 31 May 2016

270,602

DEPRECIATION

At 1 June 2015

125,374

Charge for year

38,378

Eliminated on disposal

(11,245

)

At 31 May 2016

152,507

NET BOOK VALUE

At 31 May 2016

118,095

At 31 May 2015

110,205

3.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2016

2015

value:

£

100

Ordinary

£1

100

The following reproduces the text of the report prepared for the directors in respect of the company's annual

unaudited financial statements, from which the unaudited abbreviated accounts (set out on pages two to five) have

been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the

financial statements of Johnson & Smith (Lincoln) Limited for the year ended 31 May 2016 which comprise the Profit

and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from

information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Johnson & Smith (Lincoln) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Johnson & Smith (Lincoln) Limited and state those matters that we have agreed to state to the Board of Directors of Johnson & Smith (Lincoln) Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Johnson & Smith (Lincoln) Limited Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Johnson & Smith (Lincoln) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Johnson & Smith (Lincoln) Limited. You consider that Johnson & Smith (Lincoln) Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Johnson & Smith (Lincoln) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Duncan & Toplis Limited

4 Henley Way

Doddington Road

Lincoln

Lincolnshire

LN6 3QR

9 February 2017