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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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Lee Johnstone Roofing & Plastering |
Limited |
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REGISTERED NUMBER:
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Unaudited Financial Statements |
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for the Year Ended 31 March 2019 |
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for |
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Lee Johnstone Roofing & Plastering |
Limited |
Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Contents of the Financial Statements |
for the Year Ended 31 March 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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Lee Johnstone Roofing & Plastering |
Limited |
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Company Information |
for the Year Ended 31 March 2019 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
26 Rodger Street |
Anstruther |
Fife |
KY10 3DU |
Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Balance Sheet |
31 March 2019 |
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31.3.19 | 31.3.18 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 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 ASSETS |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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CAPITAL AND RESERVES |
Called up share capital |
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Retained earnings |
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The director acknowledges his responsibilities for: |
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ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the
Companies Act 2006 and |
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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. |
Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Balance Sheet - continued |
31 March 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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Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Notes to the Financial Statements |
for the Year Ended 31 March 2019 |
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1. | STATUTORY INFORMATION |
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Lee Johnstone Roofing & Plastering Limited is a
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The company's registered number and registered office address can be found on the Company Information |
page. |
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The presentation currency of the financial statements is the Pound Sterling (£). |
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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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Turnover is recognised at the fair value of the consideration received or receivable for goods and services |
provided in the normal course of business, and is shown net of VAT and other sales related taxes. |
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Revenue from contracts for the provision of services is recognised by reference to the stage of completion |
when the stage of completion, costs incurred and costs to complete can be estimated reliably. The stage of |
completion is calculated by comparing costs incurred, mainly in relation to contractual hourly staff rates and |
materials, as a proportion of total costs. Where the outcome cannot be estimated reliably, revenue is |
recognised only to the extent of the expenses recognised that it is probable will be recovered. |
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Tangible fixed assets |
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Plant and machinery | - |
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Motor vehicles | - |
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Computer equipment | - |
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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. |
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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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Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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 |
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. |
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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. |
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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 the economic benefits from the leased asset are consumed. |
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Cash and cash equivalents |
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with |
banks, other short-term liquid investments with original maturities of three months or less, and bank |
overdrafts. Bank overdrafts are shown within borrowings in current liabilities. |
Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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2. | ACCOUNTING POLICIES - continued |
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Financial instruments |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the |
contractual provisions of the instrument. |
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Basic financial assets |
Basic financial assets, which include debtors and cash and bank balances, are initially measured at |
transaction price including 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. |
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Classification of financial liabilities |
Basic financial liabilities |
Basic financial liabilities, including creditors, 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. |
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Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
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Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course |
of business from suppliers. Amounts payable are classified as current liabilities where payment is due within |
one year or less, recognised at transaction price. |
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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 | Motor | Computer |
machinery | vehicles | equipment | Totals |
£ | £ | £ | £ |
COST |
At 1 April 2018 |
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Additions |
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Disposals |
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At 31 March 2019 |
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DEPRECIATION |
At 1 April 2018 |
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Charge for year |
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At 31 March 2019 |
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NET BOOK VALUE |
At 31 March 2019 |
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At 31 March 2018 |
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Lee Johnstone Roofing & Plastering |
Limited (Registered number: SC511539) |
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Notes to the Financial Statements - continued |
for the Year Ended 31 March 2019 |
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5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Trade debtors |
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Other debtors |
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6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.3.19 | 31.3.18 |
£ | £ |
Hire purchase contracts |
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Trade creditors |
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Taxation and social security |
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Other creditors |
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