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Unaudited Financial Statements for the Year Ended 28 February 2019 |
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Worboys and Johnston Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements for the Year Ended 28 February 2019 |
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for |
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Worboys and Johnston Limited |
Worboys and Johnston Limited (Registered number: 03145283) |
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Contents of the Financial Statements |
for the Year Ended 28 February 2019 |
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Page |
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Company Information | 1 |
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Balance Sheet | 2 |
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Notes to the Financial Statements | 4 |
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Worboys and Johnston Limited |
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Company Information |
for the Year Ended 28 February 2019 |
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DIRECTOR: |
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SECRETARY: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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18, The Lagger |
Chalfont St. Giles |
Bucks. |
HP8 4DG |
Worboys and Johnston Limited (Registered number: 03145283) |
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Balance Sheet |
28 February 2019 |
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28.2.19 | 28.2.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 4 |
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Investments | 5 |
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CURRENT ASSETS |
Stocks |
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Debtors | 6 |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 7 |
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NET CURRENT LIABILITIES | ( |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
8 |
( |
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( |
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PROVISIONS FOR LIABILITIES | 9 | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 10 |
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Revaluation reserve | 11 |
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Retained earnings | 11 |
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SHAREHOLDERS' FUNDS |
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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. |
Worboys and Johnston Limited (Registered number: 03145283) |
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Balance Sheet - continued |
28 February 2019 |
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In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
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The financial statements were approved by the director on
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Worboys and Johnston Limited (Registered number: 03145283) |
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Notes to the Financial Statements |
for the Year Ended 28 February 2019 |
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1. | STATUTORY INFORMATION |
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Worboys and Johnston Limited is a
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company's registered number and registered office address can be found on the Company Information page. |
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2. | ACCOUNTING POLICIES |
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Basis of preparing the financial statements |
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Turnover |
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, |
value added tax and other sales taxes. |
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Tangible fixed assets |
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Land and buildings | - |
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Plant and machinery etc | - |
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Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
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Stocks |
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow |
moving items. |
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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. |
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Current or deferred taxation assets and liabilities are not discounted. |
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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. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date. |
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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. |
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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. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the |
lease. |
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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. |
Worboys and Johnston Limited (Registered number: 03145283) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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3. | EMPLOYEES AND DIRECTORS |
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The average number of employees during the year was
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4. | TANGIBLE FIXED ASSETS |
Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
COST OR VALUATION |
At 1 March 2018 |
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Additions |
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Revaluations |
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At 28 February 2019 |
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DEPRECIATION |
At 1 March 2018 |
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Charge for year |
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At 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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Cost or valuation at 28 February 2019 is represented by: |
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Plant and |
Land and | machinery |
buildings | etc | Totals |
£ | £ | £ |
Valuation in 2019 | 224,100 | - | 224,100 |
Cost | 630,220 | 28,625 | 658,845 |
854,320 | 28,625 | 882,945 |
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5. | FIXED ASSET INVESTMENTS |
Shares in |
group |
undertakings |
£ |
COST |
At 1 March 2018 |
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Additions |
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At 28 February 2019 |
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NET BOOK VALUE |
At 28 February 2019 |
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At 28 February 2018 |
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Worboys and Johnston Limited (Registered number: 03145283) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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5. | FIXED ASSET INVESTMENTS - continued |
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The company's investments at the Balance Sheet date in the share capital of companies include the following: |
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Registered office: |
Nature of business:
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Class of shares: | holding |
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28.2.19 |
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£ | £ |
Aggregate capital and reserves |
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( |
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Registered office: England & Wales |
Nature of business:
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Class of shares: | holding |
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6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Trade debtors |
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Other debtors |
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7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Bank loans and overdrafts |
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Taxation and social security |
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Other creditors |
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8. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
28.2.19 | 28.2.18 |
£ | £ |
Bank loans |
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Amounts falling due in more than five years: |
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Repayable by instalments |
Bank loans more 5 yr by instal | 390,467 | 2,222 |
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9. | PROVISIONS FOR LIABILITIES |
28.2.19 | 28.2.18 |
£ | £ |
Deferred tax | 1,087 | 366 |
Worboys and Johnston Limited (Registered number: 03145283) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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9. | PROVISIONS FOR LIABILITIES - continued |
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Deferred |
tax |
£ |
Balance at 1 March 2018 |
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Accelerated capital allowances | 721 |
Balance at 28 February 2019 |
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The balance owing to the company by the director has been repaid since the year-end. |
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10. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 28.2.19 | 28.2.18 |
value: | £ | £ |
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Ordinary | £1 | 61,001 | 61,001 |
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11. | RESERVES |
Retained | Revaluation |
earnings | reserve | Totals |
£ | £ | £ |
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At 1 March 2018 |
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123,268 |
Profit for the year |
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Dividends | ( |
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Property revaluations | - | 224,100 | 224,100 |
At 28 February 2019 |
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353,451 |
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12. | OTHER FINANCIAL COMMITMENTS |
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The company has annual commitments under operating leases amounting to £30,245 (2018: £27,968). |
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13. | DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES |
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The following advances and credits to a director subsisted during the years ended 28 February 2019 and |
28 February 2018: |
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28.2.19 | 28.2.18 |
£ | £ |
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Balance outstanding at start of year |
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Amounts advanced |
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Amounts repaid | ( |
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Amounts written off | - | - |
Amounts waived | - | - |
Balance outstanding at end of year |
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The balance owing to the company by the director has been repaid since the year-end. |
Worboys and Johnston Limited (Registered number: 03145283) |
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Notes to the Financial Statements - continued |
for the Year Ended 28 February 2019 |
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14. | RELATED PARTY DISCLOSURES |
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The company is controlled by Mr. N. Worboys as director and majority shareholder. |
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The company received rent during the year of £12,000 (2018: £12,000) from Worboys Antique Restorers |
Limited, a related company. Charges for services provided by that company during the year amounted to £30,180 |
(2018: £26,514) and at the year end a balance of £134,832 (2018 £119,648) was owing to that company. |
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During the year the director, in his capacity as a shareholder, has received dividends amounting to £8,750 (2018: |
£17,000). |