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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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JOHNSON GROUP LIMITED |
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REGISTERED NUMBER:
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UNAUDITED FINANCIAL STATEMENTS |
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FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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FOR |
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JOHNSON GROUP LIMITED |
JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820) |
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CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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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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JOHNSON GROUP LIMITED |
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COMPANY INFORMATION |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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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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311 Ballards Lane |
London |
N12 8LY |
JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820) |
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BALANCE SHEET |
28 FEBRUARY 2018 |
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28.2.18 | 28.2.17 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 3 |
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Investment property | 4 |
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CURRENT ASSETS |
Debtors | 5 |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year | 6 |
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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 |
7 |
( |
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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 |
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Fair value reserve | 8 |
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Retained earnings |
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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. |
JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820) |
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BALANCE SHEET - continued |
28 FEBRUARY 2018 |
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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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JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820) |
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NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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1. | STATUTORY INFORMATION |
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Johnson Group Limited is a private company, limited by shares, registered in England and Wales. The |
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 |
These financial statements have been prepared in accordance with the provisions of Section 1A of Financial |
Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" |
("FRS 102") and the Companies Act 2006. The financial statements have been prepared under the historical cost |
convention. |
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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 |
Depreciation is provided at 25% of the reducing balance in order to write off each asset over its estimated useful |
life. |
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Investment property |
Investment properties are accounted for in accordance with the provisions of Section 16 of FRS 102. They are |
valued annually by the directors, and from time to time by an independent professional valuer, on a fair value |
basis. The surplus or deficit on revaluation is transferred to the income statement. Deferred tax is provided on |
revaluation gains at the rate expected to apply when the property is sold. |
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Financial instruments |
Basic financial assets and liabilities, including trade debtors and creditors, other debtors and creditors and |
amounts with related parties are initially recognised at transaction price and are subsequently carried at |
amortised cost using the effective interest method unless the arrangements 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 and liabilities classified as receivable or payable within one year are not amortised. |
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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. Current or |
deferred taxation assets and liabilities are not discounted. 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. 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. 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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JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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3. | TANGIBLE FIXED ASSETS |
Plant and |
machinery |
etc |
£ |
COST |
At 1 March 2017 |
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Additions |
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At 28 February 2018 |
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DEPRECIATION |
At 1 March 2017 |
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Charge for year |
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At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 March 2017 |
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Additions |
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Revaluations | 363,091 |
At 28 February 2018 |
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NET BOOK VALUE |
At 28 February 2018 |
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At 28 February 2017 |
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Fair value at 28 February 2018 is represented by: |
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£ |
Valuation in 2018 | 363,091 |
Cost | 4,512,971 |
4,876,062 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Trade debtors |
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Sundry debtors |
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JOHNSON GROUP LIMITED (REGISTERED NUMBER: 02488820) |
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NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 28 FEBRUARY 2018 |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
28.2.18 | 28.2.17 |
£ | £ |
Bank loan |
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Amounts owed to group undertakings |
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Sundry creditors |
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7. |
CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR |
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Bank loan | 28.2.18 | 28.2.17 |
£ | £ |
1,355,343 | 275,183 |
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The bank loan includes £1,263,867 (2017: £233,483) that is repayable by instalments over a period of more than |
five years. |
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8. | RESERVES |
Fair |
value |
reserve |
£ |
Revaluation reserve | 363,092 |
Deferred tax transfer | (44,557 | ) |
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At 28 February 2018 |
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9. | GOING CONCERN |
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The financial statements have been prepared on a going concern basis, which is dependent on the continued |
support of the director Patrick Johnson. Mr Johnson does not intend to withdraw his support for the foreseeable |
future and therefore the going concern basis is reasonable. |