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REGISTERED NUMBER: 00761527 (England and Wales)


















JOHNSON BROS.
COAL FACTORS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE PERIOD

29 OCTOBER 2016 TO 27 OCTOBER 2017






JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 11


JOHNSON BROS.
COAL FACTORS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017







DIRECTORS: R A Johnson
K Johnson
M Johnson
V H Johnson



SECRETARY: R A Johnson



REGISTERED OFFICE: Bynea House
Ground Floor, East Wing
Heol Y Bwlch, Bynea
Llanelli
SA14 9SU



REGISTERED NUMBER: 00761527 (England and Wales)



ACCOUNTANTS: Gerald Thomas
Chartered Accountants
3 New Mill Court
Swansea Enterprise Park
Swansea
SA7 9FG



BANKERS: Barclays Bank Plc
1-6 Pocketts Wharf
Swansea
SA1 3XL

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

BALANCE SHEET
27 OCTOBER 2017

2017 2016
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 3,066,534 5,905,963
Investments 5 7,000 6,900
3,073,534 5,912,863

CURRENT ASSETS
Stocks 72,745 65,805
Debtors 6 1,896,979 558,688
Cash at bank and in hand 97,516 170,893
2,067,240 795,386
CREDITORS
Amounts falling due within one year 7 543,148 2,070,788
NET CURRENT ASSETS/(LIABILITIES) 1,524,092 (1,275,402 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

4,597,626

4,637,461

CREDITORS
Amounts falling due after more than one
year

8

(1,769,015

)

(1,769,015

)

PROVISIONS FOR LIABILITIES (46,515 ) (51,742 )
NET ASSETS 2,782,096 2,816,704

CAPITAL AND RESERVES
Called up share capital 500 500
Retained earnings -
non distributable 10 2,097,814 2,083,588
Retained earnings 683,782 732,616
SHAREHOLDERS' FUNDS 2,782,096 2,816,704

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 27 October 2017.

The members have not required the company to obtain an audit of its financial statements for the period ended 27 October 2017 in accordance with Section 476 of the Companies Act 2006.

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)

BALANCE SHEET - continued
27 OCTOBER 2017


The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 22 October 2018 and were signed on its
behalf by:





V H Johnson - Director


JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


1. STATUTORY INFORMATION

Johnson Bros. Coal Factors 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.

The presentation currency of the financial statements is the pound sterling (£) and have been rounded
to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Going concern
The company has made a profit in the period and has 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.

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.

First year adoption of Financial Reporting Standard 102 ( FRS 102) Section 1A
These financial statements for the period ended 27 October 2017 are the first that are prepared in
accordance with FRS 102 Section 1A. The previous financial statements were prepared in accordance
with UK GAAP, the date of transition to FRS 102 Section 1A is 30 October 2015.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102
'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related
party transactions with wholly owned subsidiaries within the group.

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


2. ACCOUNTING POLICIES - continued

Significant judgements and 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 if the revision only affects that
period, or in the period of the revision and future periods if the revision affects both current and future
periods.

The following are the critical judgements that the directors have made in the process of applying the
company's accounting policies and that have the most significant effect on the amounts recognised in
the financial statements.

Impairment of assets
Assets are assessed for indicators of impairment at each balance sheet date. If there is objective
evidence of impairment, an impairment loss is recognised in the income statement.

Stock provisions
Stock holdings are assessed for indicators of obsolescence at each balance sheet date. If there is
objective evidence of obsolescence, a provision is recognised in the income statement.

Provisions and contingencies
Provisions are recognised when the company has a present obligation as a result of a past event and a
reliable estimate can be made of a probable adverse outcome. Otherwise, material contingent liabilities
are disclosed unless a transfer of economic benefits is considered remote. Contingent assets are only
disclosed if an inflow of economic benefits is probable.

Turnover
Turnover is the amount derived from ordinary activities and stated after VAT.

Revenue recognition
Revenue relates to rental income, insurance income, service charge income and management
charges. Revenue is recognised evenly over the period to which it relates. Revenue is invoiced in
advance and at the balance sheet date amounts in advance are recorded as deferred income and
included as part of creditors due within one year.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost
Plant and machinery - 20% on cost
Fixtures and fittings - 10% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% on cost

Tangible fixed assets are measured at cost less depreciation.

Investment properties
The company's land and buildings are treated as investment properties, as defined by the Financial
Reporting Standard 102 Section 1A "Small Entities" accordingly, they are not depreciated. Investment
properties for which fair value can be measured reliably without undue cost or effort on an on-going
basis are measured at fair value annually, with the change recognised in the income statement.
Surpluses or deficits on revaluation are then transferred from Retained Earnings to a separate
non-distributable reserve.

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


2. ACCOUNTING POLICIES - continued

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for
obsolete and slow moving items.

Financial instruments
Basic financial assets, which include trade debtors, other debtors and cash at bank balances and bank
loans, are initially measured at transaction price 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.

Basic financial liabilities, including trade and other 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 receipts discounted at a market rate of interest.

Taxation
Taxation for the period 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
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.

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 period 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.

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 profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the period was 5 (2016 - 5 ) .

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


4. TANGIBLE FIXED ASSETS
Freehold Investment Plant and
property properties machinery
£    £    £   
COST OR VALUATION
At 29 October 2016 320,680 5,618,741 144,887
Disposals - (2,840,000 ) -
Revaluations - 9,000 -
At 27 October 2017 320,680 2,787,741 144,887
DEPRECIATION
At 29 October 2016 41,276 - 144,877
Charge for period 6,413 - -
At 27 October 2017 47,689 - 144,877
NET BOOK VALUE
At 27 October 2017 272,991 2,787,741 10
At 28 October 2016 279,404 5,618,741 10

Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST OR VALUATION
At 29 October 2016 17,602 7,978 2,310 6,112,198
Disposals - - - (2,840,000 )
Revaluations - - - 9,000
At 27 October 2017 17,602 7,978 2,310 3,281,198
DEPRECIATION
At 29 October 2016 16,403 1,372 2,307 206,235
Charge for period 130 1,886 - 8,429
At 27 October 2017 16,533 3,258 2,307 214,664
NET BOOK VALUE
At 27 October 2017 1,069 4,720 3 3,066,534
At 28 October 2016 1,199 6,606 3 5,905,963

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


4. TANGIBLE FIXED ASSETS - continued

If Investment properties had not been revalued they would have been included at the following
historical cost:

2017 2016
£ £

Cost 2,339,552 3,805,655


Investment properties and freehold properties were valued on an open market basis, subject to the
existing leases, by the directors on 27 October 2017. The directors were assisted in this valuation by
reference to an external valuations carried out on certain investment properties by Rowland Jones,
Chartered Surveyors in February 2010 and July 2011 and a valuation by Astleys Chartered Surveyors
in June 2011.


5. FIXED ASSET INVESTMENTS

2017 2016
£    £   
Shares in group undertakings 100 -
Other investments not loans 6,900 6,900
7,000 6,900

Additional information is as follows:
Shares in
group
undertakings
£   
COST
Additions 100
At 27 October 2017 100
NET BOOK VALUE
At 27 October 2017 100

Investments (neither listed nor unlisted) were as follows:
2017 2016
£    £   
Other investments 6,900 6,900

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Trade debtors 56,355 64,311
Amounts owed by group undertakings 1,497,083 -
Other debtors 343,541 494,377
1,896,979 558,688

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2017 2016
£    £   
Bank loans and overdrafts - 1,361,925
Trade creditors 281,085 329,123
Taxation and social security 60,551 59,565
Other creditors 201,512 320,175
543,148 2,070,788

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2017 2016
£    £   
Bank loans 1,769,015 1,769,015

Amounts falling due in more than five years:

Repayable by instalments
Bank loans more than 5 years by
instalments

1,769,015

1,769,015

9. SECURED DEBTS

The following secured debts are included within creditors:

2017 2016
£    £   
Bank loans 1,769,015 3,130,940

The company's bank borrowings are secured by a debenture on bank's standard form. The debenture
loans are secured by first legal charges over the land and buildings owned by the company. Additional
security is provided by legal charges over certain investment properties held by the company, together
with personal guarantees of £200,000 each given by the directors.

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


10. RESERVES
Retained
earnings
- non
distributable
£   
At 29 October 2016 2,083,588
Revaluation in year 9,000
Reserve transfer 5,226

At 27 October 2017 2,097,814

11. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the periods ended 27 October 2017
and 28 October 2016:

2017 2016
£    £   
R A Johnson
Balance outstanding at start of period 33,606 (4,598 )
Amounts advanced 56,389 54,914
Amounts repaid (118,663 ) (16,710 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (28,668 ) 33,606

K Johnson
Balance outstanding at start of period 27,057 (4,290 )
Amounts advanced 56,387 48,688
Amounts repaid (115,083 ) (17,341 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (31,639 ) 27,057

M Johnson
Balance outstanding at start of period 35,187 (1,245 )
Amounts advanced 63,462 55,898
Amounts repaid (116,633 ) (19,466 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (17,984 ) 35,187

JOHNSON BROS.
COAL FACTORS LIMITED (REGISTERED NUMBER: 00761527)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE PERIOD 29 OCTOBER 2016 TO 27 OCTOBER 2017


11. TRANSACTIONS WITH DIRECTORS - continued

V H Johnson
Balance outstanding at start of period 38,654 (6,561 )
Amounts advanced 56,304 64,651
Amounts repaid (116,393 ) (19,436 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of period (21,435 ) 38,654

The directors' loans are interest free, unsecured and are repayable on demand.

12. RELATED PARTY DISCLOSURES

During the period, total dividends of £140,000 (2016 - £20,000) were paid to the directors .