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Abbreviated Accounts For The Year Ended 29 February 2016 |
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Johnston & Scott Limited |
REGISTERED NUMBER:
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Abbreviated Accounts For The Year Ended 29 February 2016 |
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for |
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Johnston & Scott Limited |
Johnston & Scott Limited (Registered number: SC046452) |
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Contents of the Abbreviated Accounts |
For The Year Ended 29 February 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 4 |
Johnston & Scott Limited |
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Company Information |
For The Year Ended 29 February 2016 |
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DIRECTORS: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Johnston & Scott Limited (Registered number: SC046452) |
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Abbreviated Balance Sheet |
29 February 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Investments |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 3 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CREDITORS |
Amounts falling due after more than one
year |
3 |
( |
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( |
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PROVISIONS FOR LIABILITIES | ( |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 4 |
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Capital redemption reserve |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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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. |
Johnston & Scott Limited (Registered number: SC046452) |
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Abbreviated Balance Sheet - continued |
29 February 2016 |
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The financial statements were approved by the Board of Directors on
by: |
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Johnston & Scott Limited (Registered number: SC046452) |
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Notes to the Abbreviated Accounts |
For The Year Ended 29 February 2016 |
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1. | ACCOUNTING POLICIES |
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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). |
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Turnover |
Turnover represents net invoiced sales of goods, excluding value added tax. |
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Tangible fixed assets |
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Improvements to property | - |
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Plant and machinery | - |
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Fixtures and fittings | - |
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Motor vehicles | - |
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Computer equipment | - |
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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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Deferred tax |
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods |
different from those in which they are included in the company's accounts. Deferred tax is provided in full on |
timing differences which result in an obligation to pay more (or a right to pay less) tax at a future date, at the tax |
rates that are expected to apply when the timing difference reverse, based on current tax rates and laws. |
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Deferred tax is not provided on timing differences arising from the revaluation of fixed assets where there is no |
commitment to sell the asset. |
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Deferred tax assets are recognised to the extent that it is regarded as more likely than not that they will be |
recovered. |
Deferred tax assets and liabilities are not discounted. |
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Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the |
balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at |
the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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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. |
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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. |
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Rentals paid under operating leases are charged to the profit and loss account 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 the profit and loss account in the period to which they relate. |
Johnston & Scott Limited (Registered number: SC046452) |
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Notes to the Abbreviated Accounts - continued |
For The Year Ended 29 February 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 March 2015 |
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Additions |
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Disposals | ( |
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At 29 February 2016 |
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DEPRECIATION |
At 1 March 2015 |
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Charge for year |
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Eliminated on disposal | ( |
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At 29 February 2016 |
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NET BOOK VALUE |
At 29 February 2016 |
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At 28 February 2015 |
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3. | CREDITORS |
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Creditors include an amount of £
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4. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Ordinary | £1 |
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