Company registration number NI003426 (Northern Ireland)
CYRIL JOHNSTON & CO. LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
PAGES FOR FILING WITH REGISTRAR
CYRIL JOHNSTON & CO. LIMITED
CONTENTS
Page
Balance sheet
1
Statement of changes in equity
2
Notes to the financial statements
3 - 14
CYRIL JOHNSTON & CO. LIMITED
BALANCE SHEET
AS AT 31 OCTOBER 2022
31 October 2022
- 1 -
2022
2021
Notes
£
£
£
£
Fixed assets
Tangible assets
4
1,132,969
1,140,759
Investment properties
5
2,635,000
2,635,000
Investments
6
1
1
3,767,970
3,775,760
Current assets
Stocks
1,781,684
942,654
Debtors
8
621,381
558,879
Cash at bank and in hand
314,654
1,418,436
2,717,719
2,919,969
Creditors: amounts falling due within one year
9
(1,501,190)
(1,749,425)
Net current assets
1,216,529
1,170,544
Total assets less current liabilities
4,984,499
4,946,304
Creditors: amounts falling due after more than one year
10
(551,518)
(711,832)
Provisions for liabilities
14
(423,741)
(423,741)
Net assets
4,009,240
3,810,731
Capital and reserves
Called up share capital
15
10,000
10,000
Fixed asset revaluation reserve
378,059
387,510
Investment property revaluation reserve
1,093,614
1,093,614
Profit and loss reserves
2,527,567
2,319,607
Total equity
4,009,240
3,810,731
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 21 April 2023 and are signed on its behalf by:
Mr D. W. Johnston
Mr T M Black
Director
Director
Company Registration No. NI003426
The notes on pages 3 - 14 form part of these financial statements and should be read in conjunction therewith.
CYRIL JOHNSTON & CO. LIMITED
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 OCTOBER 2022
- 2 -
Share capital
Revaluation reserve
Other reserves
Profit and loss reserves
Total
£
£
£
£
£
Balance at 1 November 2020
10,000
396,961
1,111,527
2,026,308
3,544,796
Year ended 31 October 2021:
Profit and total comprehensive income for the year
-
-
-
265,935
265,935
Deferred tax movements
-
-
(17,913)
17,913
Transfers
-
(9,451)
-
9,451
-
Balance at 31 October 2021
10,000
387,510
1,093,614
2,319,607
3,810,731
Year ended 31 October 2022:
Profit and total comprehensive income for the year
-
-
-
198,509
198,509
Transfers
-
(9,451)
-
9,451
-
Balance at 31 October 2022
10,000
378,059
1,093,614
2,527,567
4,009,240
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2022
- 3 -
1
Accounting policies
Company information
Cyril Johnston & Co. Limited is a private company limited by shares incorporated in Northern Ireland. The registered office is Ballynahinch Road, Carryduff, Belfast, BT8 8DJ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
1.2
Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future.
Thus the directors are comfortable with and continue to adopt the going concern basis of accounting in preparing the financial statements.
1.3
Turnover
The turnover shown in the profit and loss account represents income from the distribution of goods and machinery to the horticulture and leisure sectors and excludes VAT. Revenue is recognised at the time of collection or delievery to the customer.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods), the amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.
1.4
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Land and buildings Freehold
2% straight line
Plant and machinery
15% straight line
Fixtures, fittings & equipment
15 - 25% straight line
Motor vehicles
25% reducing balance
Other assets
15% straight line
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.5
Investment properties
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 4 -
1.6
Fixed asset investments
Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.7
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
Recoverable amount is the higher of fair value less costs to sell and value in use. In assessing value in use, the estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time value of money and the risks specific to the asset for which the estimates of future cash flows have not been adjusted.
If the recoverable amount of an asset (or cash-generating unit) is estimated to be less than its carrying amount, the carrying amount of the asset (or cash-generating unit) is reduced to its recoverable amount. An impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the impairment loss is treated as a revaluation decrease.
Recognised impairment losses are reversed if, and only if, the reasons for the impairment loss have ceased to apply. Where an impairment loss subsequently reverses, the carrying amount of the asset (or cash-generating unit) is increased to the revised estimate of its recoverable amount, but so that the increased carrying amount does not exceed the carrying amount that would have been determined had no impairment loss been recognised for the asset (or cash-generating unit) in prior years. A reversal of an impairment loss is recognised immediately in profit or loss, unless the relevant asset is carried at a revalued amount, in which case the reversal of the impairment loss is treated as a revaluation increase.
1.8
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.9
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 5 -
1.10
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Other financial assets
Other financial assets, including investments in equity instruments which are not subsidiaries, associates
or joint ventures, are initially measured at fair value, which is normally the transaction price. Such assets
are subsequently carried at fair value and the changes in fair value are recognised in profit or loss, except
that investments in equity instruments that are not publicly traded and whose fair values cannot be
measured reliably are measured at cost less impairment.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss , are assessed for indicators of
impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that
occurred after the initial recognition of the financial asset, the estimated future cash flows have been
affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the
present value of the estimated cash flows discounted at the asset’s original effective interest rate. The
impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was
recognised, the impairment is reversed. The reversal is such that the current carrying amount does not
exceed what the carrying amount would have been, had the impairment not previously been recognised.
The impairment reversal is recognised in profit or loss.
Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire
or are settled, or when the company transfers the financial asset and substantially all the risks and rewards
of ownership to another entity, or if some significant risks and rewards of ownership are retained but
control of the asset has transferred to another party that is able to sell the asset in its entirety to an
unrelated third party.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 6 -
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.
1.11
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.
1.12
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.
Deferred tax
Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.
The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 7 -
1.13
Employee benefits
The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
1.14
Retirement benefits
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are charged to the profit and loss account in the year they are payable.
1.15
Leases
Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessees. All other leases are classified as operating leases.
Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.
Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.
1.16
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
1.17
Foreign exchange
Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
1
Accounting policies
(Continued)
- 8 -
1.18
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangments entered into. An equity instrument is any contract that evidences a residual interest in the assets of the equity after deducting all of its financial liabilities.
Where the contractual obligations of the financial statements (including share capital) are equivalent to a similiar debt instrument, those financial statements are classed as financial liabilities. Financial liabilities are presented in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.
Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.
2
Judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.
3
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2022
2021
Number
Number
Total
36
35
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 9 -
4
Tangible fixed assets
Land and buildings Freehold
Plant and machinery
Fixtures, fittings & equipment
Motor vehicles
Other assets
Total
£
£
£
£
£
£
Cost or valuation
At 1 November 2021
951,480
134,349
850,722
283,955
123,939
2,344,445
Additions
5,871
9,363
46,035
113,324
174,593
Disposals
(34,450)
(74,643)
(109,093)
At 31 October 2022
957,351
134,349
860,085
295,540
162,620
2,409,945
Depreciation and impairment
At 1 November 2021
161,197
129,563
821,699
72,969
18,258
1,203,686
Depreciation charged in the year
19,087
1,540
14,449
48,704
22,660
106,440
Eliminated in respect of disposals
(18,211)
(14,939)
(33,150)
At 31 October 2022
180,284
131,103
836,148
103,462
25,979
1,276,976
Carrying amount
At 31 October 2022
777,067
3,246
23,937
192,078
136,641
1,132,969
At 31 October 2021
790,283
4,786
29,023
210,986
105,681
1,140,759
Land and buildings with a carrying amount of £627,000 were revalued at 31 October 2013 by Ian McCullough Estate Agents and Chartered Surveyors, independent valuers not connected with the company on the basis of market value. The valuation conforms to International Valuation Standards and was based on recent market transactions on arm's length terms for similar properties.
Land and buildings are carried at valuation. If land and buildings were measured using the cost model, the carrying amounts would have been approximately £394,527 (2021 - £400,950), being cost £617,716 (2021 - £611,845) and depreciation £223,189 (2021 - £210,895).
2022
2021
£
£
Cost
617,716
611,845
Accumulated depreciation
(223,189)
(210,895)
Carrying value
394,527
400,950
5
Investment property
2022
£
Fair value
At 1 November 2021 and 31 October 2022
2,635,000
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
5
Investment property
(Continued)
- 10 -
Investment property comprises the land and premises at 129-135 Ballynahinch Road, Carryduff, Belfast,
BT8 8DJ. A revaluation of the investment property was carried out at 14th January 2020 by OKT, who are not connected with the company. The revaluation resulted in a fair value increase of £223,000. The valuation was made on an open market value basis by reference to market evidence of transaction prices for similar properties.
6
Fixed asset investments
2022
2021
£
£
Investments
1
1
Movements in fixed asset investments
Shares in group undertakings
£
Cost or valuation
At 1 November 2021 & 31 October 2022
1
Carrying amount
At 31 October 2022
1
At 31 October 2021
1
7
Subsidiaries
Details of the company's subsidiaries at 31 October 2022 are as follows:
Name of undertaking
Registered office
Class of
% Held
shares held
Direct
Cyril Johnston Trading Limited
Northern Ireland
Ordinary
100.00
8
Debtors
2022
2021
Amounts falling due within one year:
£
£
Trade debtors
353,638
320,207
Amounts owed by Cyril Johnston Hire Limited
2,669
4,311
Other debtors
80,718
89,403
Prepayments and accrued income
184,356
144,958
621,381
558,879
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 11 -
9
Creditors: amounts falling due within one year
2022
2021
£
£
Bank loans and overdrafts
158,805
123,128
Obligations under finance leases
29,776
35,226
Other borrowings
60,828
91,690
Trade creditors
1,043,230
1,142,550
Corporation tax
7,357
32,346
Other taxation and social security
30,156
110,668
Other creditors
58,364
84,513
Accruals and deferred income
112,674
129,304
1,501,190
1,749,425
10
Creditors: amounts falling due after more than one year
2022
2021
£
£
Bank loans and overdrafts
241,509
343,968
Obligations under finance leases
37,763
70,674
Other borrowings
272,246
297,190
551,518
711,832
11
Loans and overdrafts
2022
2021
£
£
Bank loans
330,229
418,949
Bank overdrafts
70,085
48,147
Preference shares
304,246
304,246
Other loans
28,828
84,634
733,388
855,976
Payable within one year
219,633
214,818
Payable after one year
513,755
641,158
The bank borrowings are secured by a floating charge over the company's properties at Ballynahinch Road, Carryduff, and by guarantees provided by company directors.
Included within Other loans is an amount of £26,840 which is payable in quarterly instalments, and carries interest of 2.5%. The final settlement of the loan is due in 2023.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 12 -
12
Finance lease obligations
2022
2021
Future minimum lease payments due under finance leases:
£
£
Within one year
32,202
35,204
In two to five years
39,129
79,367
71,331
114,571
Less: future finance charges
(3,792)
(8,671)
67,539
105,900
Finance lease payments represent rentals payable by the company for certain items of motor vehicles. Leases include purchase options at the end of the lease period, and no restrictions are placed on the use of the assets. The average lease term is 4 years. All leases are on a fixed repayment basis and no arrangements have been entered into for contingent rental payments.
13
Provisions for liabilities
2022
2021
£
£
Deferred tax liabilities
14
423,741
423,741
14
Deferred taxation
The following are the major deferred tax liabilities and assets recognised by the company and movements thereon:
Liabilities
Liabilities
2022
2021
Balances:
£
£
Revaluations
423,741
423,741
There were no deferred tax movements in the year.
The company does not intend to dispose of its freehold property or investment property in the foreseeable future, and therefore no projected deferred tax movement has been noted.
Deferred tax is not recognised in respect of tax losses of £1,455,237 as it is not probable that they will be recovered against the reversal of deferred tax liabilities or future taxable profits.
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
- 13 -
15
Share capital
2022
2021
£
£
Ordinary share capital
Issued and fully paid
10,000 Ordinary Shares of £1 each
10,000
10,000
10,000
10,000
The ordinary shares entitle the shareholders to:
full rights to receive notice of and attend, speak and vote at all general meetings of the Company;
full rights to participate in lawful dividends; and
full rights to participate in a lawful distribution.
16
Audit report information
As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:
The auditor's report was unqualified.
Senior Statutory Auditor:
Dr R I Peters Gallagher OBE FCA
Statutory Auditor:
Moore (N.I.) LLP
17
Operating lease commitments
Lessee
At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:
2022
2021
£
£
Within one year
65,500
65,550
Between two and five years
131,500
197,000
197,000
262,550
18
Financial commitments, guarantees and contingent liabilities
The company has a contingent liability in respect of a bank guarantee in place for VAT liabilities, totalling £50,000.
19
Controlling party
The ultimate controlling party is Mr D W Johnston.
20
Related party transactions
CYRIL JOHNSTON & CO. LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2022
20
Related party transactions
(Continued)
- 14 -
During the year the company paid rent of £65,500 (2021 - £65,500) to the trustees of the Cyril Johnston Pension Fund, a fund of which the directors are trustees. The balance outstanding at the year end was £6,550 (2021 - £6,550), included within Trade Creditors.
2022-10-312021-11-01false21 April 2023CCH SoftwareCCH Accounts Production 2023.100No description of principal activityThis audit opinion is unqualifiedMr D. W. JohnstonMr D. C. JohnstonMr T M BlackMr D. C. JohnstonNI0034262021-11-012022-10-31NI0034262022-10-31NI0034262021-10-31NI003426core:LandBuildingscore:OwnedOrFreeholdAssets2022-10-31NI003426core:PlantMachinery2022-10-31NI003426core:FurnitureFittings2022-10-31NI003426core:MotorVehicles2022-10-31NI003426core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-10-31NI003426core:LandBuildingscore:OwnedOrFreeholdAssets2021-10-31NI003426core:PlantMachinery2021-10-31NI003426core:FurnitureFittings2021-10-31NI003426core:MotorVehicles2021-10-31NI003426core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2021-10-31NI003426core:CurrentFinancialInstruments2022-10-31NI003426core:CurrentFinancialInstruments2021-10-31NI003426core:Non-currentFinancialInstruments2022-10-31NI003426core:Non-currentFinancialInstruments2021-10-31NI003426core:ShareCapital2022-10-31NI003426core:ShareCapital2021-10-31NI003426core:RevaluationReserve2022-10-31NI003426core:RevaluationReserve2021-10-31NI003426core:ShareCapital2020-10-31NI003426core:RevaluationReserve2020-10-31NI003426core:RetainedEarningsAccumulatedLosses2020-10-31NI003426core:RetainedEarningsAccumulatedLosses2022-10-31NI003426core:ShareCapitalOrdinaryShares2022-10-31NI003426core:ShareCapitalOrdinaryShares2021-10-31NI003426bus:Director12021-11-012022-10-31NI003426bus:Director22021-11-012022-10-31NI003426core:RetainedEarningsAccumulatedLosses2020-11-012021-10-31NI0034262020-11-012021-10-31NI003426core:RetainedEarningsAccumulatedLosses2021-11-012022-10-31NI003426core:RevaluationReserve2020-11-012021-10-31NI003426core:RevaluationReserve2021-11-012022-10-31NI003426core:LandBuildingscore:OwnedOrFreeholdAssets2021-11-012022-10-31NI003426core:PlantMachinery2021-11-012022-10-31NI003426core:FurnitureFittings2021-11-012022-10-31NI003426core:MotorVehicles2021-11-012022-10-31NI003426core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2021-11-012022-10-31NI003426core:LandBuildingscore:OwnedOrFreeholdAssets2021-10-31NI003426core:PlantMachinery2021-10-31NI003426core:FurnitureFittings2021-10-31NI003426core:MotorVehicles2021-10-31NI003426core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2021-10-31NI0034262021-10-31NI003426core:Subsidiary12021-11-012022-10-31NI003426core:Subsidiary112021-11-012022-10-31NI003426core:FinancialLiabilitiesHeldForTradingcore:FinancialInstrumentsHeldForSale2022-10-31NI003426core:WithinOneYear2022-10-31NI003426core:WithinOneYear2021-10-31NI003426core:BetweenTwoFiveYears2022-10-31NI003426core:BetweenTwoFiveYears2021-10-31NI003426bus:OrdinaryShareClass12021-11-012022-10-31NI003426bus:OrdinaryShareClass12022-10-31NI003426bus:PrivateLimitedCompanyLtd2021-11-012022-10-31NI003426bus:SmallCompaniesRegimeForAccounts2021-11-012022-10-31NI003426bus:FRS1022021-11-012022-10-31NI003426bus:Audited2021-11-012022-10-31NI003426bus:Director32021-11-012022-10-31NI003426bus:CompanySecretary12021-11-012022-10-31NI003426bus:FullAccounts2021-11-012022-10-31xbrli:purexbrli:sharesiso4217:GBP