James Johnstone Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 05471199 (England and Wales)

James Johnstone Limited

Abbreviated Unaudited Accounts

for the Year Ended 31 March 2014

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

3

DIRECTORS:

Mr J B Johnstone

Mrs C H B Johnstone

REGISTERED OFFICE:

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

REGISTERED NUMBER:

05471199 (England and Wales)

ACCOUNTANTS:

Atkins Ferrie

Chartered Accountants

Lakeside Offices

The Old Cattle Market

Coronation Park

Helston

Cornwall

TR13 0SR

FIXED ASSETS

Intangible assets

2

33,500

36,500

Tangible assets

3

3,530

4,706

37,030

41,206

CURRENT ASSETS

Debtors

16,900

4,079

Cash at bank

12,672

733

29,572

4,812

CREDITORS

Amounts falling due within one year

40,146

44,900

NET CURRENT LIABILITIES

(10,574

)

(40,088

)

TOTAL ASSETS LESS CURRENT LIABILITIES

26,456

1,118

PROVISIONS FOR LIABILITIES

723

723

NET ASSETS

25,733

395

CAPITAL AND RESERVES

Called up share capital

4

100

100

Profit and loss account

25,633

295

SHAREHOLDERS' FUNDS

25,733

395

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2014 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 22 December 2014 and were signed on its behalf by:

Mr J B Johnstone - 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 April 2008).

Turnover

Turnover represents net invoiced sales of services, excluding value added tax.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2005, is being amortised evenly over its estimated useful life of twenty years.

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

Computer equipment

-

25% on reducing balance

Deferred tax

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

2.	INTANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

60,000

AMORTISATION

At 1 April 2013

23,500

Amortisation for year

3,000

At 31 March 2014

26,500

NET BOOK VALUE

At 31 March 2014

33,500

At 31 March 2013

36,500

3.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 April 2013

and 31 March 2014

17,115

DEPRECIATION

At 1 April 2013

12,409

Charge for year

1,176

At 31 March 2014

13,585

NET BOOK VALUE

At 31 March 2014

3,530

At 31 March 2013

4,706

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

100

Ordinary

£1

100

100

5.	RELATED PARTY DISCLOSURES

There is a directors' current account balance owing to Mr JB & Mrs CHB Johnstone of £25,883 [2013: £32,260] at the

Balance Sheet date.