REGISTERED NUMBER:
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JOHNSON BROS. |
COAL FACTORS LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE PERIOD |
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31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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DRAFT |
REGISTERED NUMBER:
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JOHNSON BROS. |
COAL FACTORS LIMITED |
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ABBREVIATED UNAUDITED ACCOUNTS |
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FOR THE PERIOD |
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31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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CONTENTS OF THE ABBREVIATED ACCOUNTS |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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DRAFT |
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Page |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 | to | 3 |
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Notes to the Abbreviated Accounts | 4 | to | 8 |
JOHNSON BROS. |
COAL FACTORS LIMITED |
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COMPANY INFORMATION |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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DRAFT |
DIRECTORS: |
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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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Chartered Accountants |
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BANKERS: |
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JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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ABBREVIATED BALANCE SHEET |
29 OCTOBER 2015 |
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2015 | 2014 |
Notes | £ | £ | £ | £ |
DRAFT |
FIXED ASSETS |
Tangible assets | 2 |
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Investments | 3 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
Amounts falling due within one year | 4 |
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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 |
4 |
( |
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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 | 5 |
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Revaluation 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. |
JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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ABBREVIATED BALANCE SHEET - continued |
29 OCTOBER 2015 |
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DRAFT |
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The financial statements were approved by the Board of Directors on
behalf by: |
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JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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NOTES TO THE ABBREVIATED ACCOUNTS |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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DRAFT |
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1. | ACCOUNTING POLICIES |
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Basis of preparation - going concern |
The company has made a profit in the period and has both net current assets and net assets at the |
balance sheet date. However the company is reliant upon the support of its bankers and directors. Part |
of the financing of the company has been through loan facilities, including loans on interest only terms. |
The directors have received no indication from the company's bankers that these loan facilities will not |
continue for the foreseeable future and the directors will continue to support the company personally. |
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Therefore, after making enquiries and considering the uncertainties described above, the directors |
have a reasonable expectation that the company has adequate resources to continue in operational |
existence for the foreseeable future. For these reasons they continue to adopt the going concern basis |
in preparing the financial statements. |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance |
with the Financial Reporting Standards for Smaller Entities (effective April 2008), as modified by the |
revaluation of freehold and investment properties. |
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Turnover |
Turnover is the amount derived from ordinary activities and stated after VAT and other sales taxes. |
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Revenue recognition |
Revenue relates to rental income, insurance income, service charge income and management |
charges. Rental income is invoiced in advance. Revenue is recognised evenly over the period to which |
it relates. Revenue also includes dilapidation income which is recognised in the period in which the |
company obtains the right to the consideration. |
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Tangible fixed assets |
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Freehold 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 stated at the lower of cost and net realisable value. Cost includes purchase price less |
discounts where applicable. Net realisable value is based on estimated selling price. Provision is made |
for obsolete and slow moving items where appropriate. |
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JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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1. | ACCOUNTING POLICIES - continued |
DRAFT |
Taxation |
Current tax, including UK corporation tax and foreign tax, is provided at amounts expected to be paid |
(or recovered) using the tax rates and laws that have been enacted or substantively enacted by the |
balance sheet date. |
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Deferred tax is recognised in respect of all timing differences that have originated but not reversed at |
the balance sheet date. Timing differences are differences between the company's taxable profits and |
its results as stated in the financial statements that arise from the inclusion of gains and losses in tax |
assessments in periods different from those in which they are recognised in the financial statements. |
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A net deferred tax asset is regarded as recoverable and therefore recognised only to the extent that, |
on the basis of all available evidence, it can be regarded as more likely than not that there will be |
suitable taxable profits from which the future reversal of the underlying timing differences can be |
deducted. |
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Deferred tax is measured on a non-discounted basis. |
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Investment properties |
Investment properties are included in the balance sheet at their initial cost or open market value, in |
accordance with the requirements of the FRSSE. Depreciation is provided only on those properties |
which are leasehold and where the unexpired lease term is less than 20 years. |
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Although this accounting policy is in accordance with the FRSSE it is a departure from the general |
requirement of the Companies Act 2006 for all tangible assets to be depreciated. In the opinion of the |
directors compliance with the standard is necessary for the financial statements to give a true and fair |
view. Depreciation or amortisation is only one of many factors reflected in the annual valuation and the |
amount of this which might otherwise have been charged cannot be separately identified or quantified. |
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Investments |
Fixed asset investments are stated at cost less provision for diminution in value. |
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Provisions |
A provision is recognised in the balance sheet when the company has a present legal or constructive |
obligation as a result of a past event, it is more likely than not that an outflow of economic benefits will |
be required to settle the obligation and the obligation can be estimated reliably. Provisions are not |
discounted. Provisions for dilapidations are provided when the company becomes obligated and the |
liability can be reliably estimated. |
JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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DRAFT |
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2. | TANGIBLE FIXED ASSETS |
Total |
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COST |
At 31 October 2014 |
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Additions |
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At 29 October 2015 |
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DEPRECIATION |
At 31 October 2014 |
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Charge for period |
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At 29 October 2015 |
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NET BOOK VALUE |
At 29 October 2015 |
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At 30 October 2014 |
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If freehold and investment properties had not been revalued, they would be included at the following |
historical cost: |
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2015 | 2014 |
£ | £ |
Cost | 3,805,653 | 3,805,653 |
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Investment properties and freehold property were valued on an open market basis, subject to the |
existing leases, by the directors on 29 October 2015. The directors were assisted in this valuation by |
reference to an external valuation carried out on certain investment properties by Knight Frank LLP in |
August 2009, additional property valuations by Rowland Jones, Chartered Surveyors in February 2010 |
and July 2011 and a valuation by Astleys Chartered Surveyors in June 2011. |
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3. | FIXED ASSET INVESTMENTS |
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Investments (neither listed nor unlisted) were as follows: |
2015 | 2014 |
£ | £ |
Other investments |
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4. | CREDITORS |
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The following secured debts are included within creditors: |
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2015 | 2014 |
£ | £ |
Bank loans |
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JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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4. | CREDITORS - continued |
DRAFT |
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Creditors include the following debts falling due in more than five years: |
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2015 | 2014 |
£ | £ |
Repayable by instalments | 3,013,294 | 3,038,294 |
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5. | CALLED UP SHARE CAPITAL |
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Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2015 | 2014 |
value: | £ | £ |
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Ordinary | £1 |
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6. | TRANSACTIONS WITH DIRECTORS |
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The following advances and credits to directors subsisted during the period ended 29 October 2015 |
and the year ended 30 October 2014: |
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2015 | 2014 |
£ | £ |
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Balance outstanding at start of period | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of period | ( |
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Balance outstanding at start of period | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of period | ( |
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Balance outstanding at start of period | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of period | ( |
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Balance outstanding at start of period | ( |
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Amounts advanced |
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Amounts repaid | ( |
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Balance outstanding at end of period | ( |
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JOHNSON BROS. |
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527) |
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NOTES TO THE ABBREVIATED ACCOUNTS - continued |
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015 |
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DRAFT |
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7. | ULTIMATE CONTROLLING PARTY |
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There is no single controlling party. |