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DRAFT
REGISTERED NUMBER: 00761527 (England and Wales)


















JOHNSON BROS.
COAL FACTORS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE PERIOD

31 OCTOBER 2014 TO 29 OCTOBER 2015






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

CONTENTS OF THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015

DRAFT









Page

Company Information 1

Abbreviated Balance Sheet 2 to 3

Notes to the Abbreviated Accounts 4 to 8

JOHNSON BROS.
COAL FACTORS LIMITED

COMPANY INFORMATION
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015







DRAFT
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)

ABBREVIATED BALANCE SHEET
29 OCTOBER 2015

2015 2014
Notes £    £    £    £   
DRAFT
FIXED ASSETS
Tangible assets 2 5,905,902 5,911,021
Investments 3 6,900 6,900
5,912,802 5,917,921

CURRENT ASSETS
Stocks 56,143 69,348
Debtors 591,443 486,375
Cash at bank and in hand 115,831 85,683
763,417 641,406
CREDITORS
Amounts falling due within one year 4 879,627 700,032
NET CURRENT LIABILITIES (116,210 ) (58,626 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,796,592

5,859,295

CREDITORS
Amounts falling due after more than one
year

4

(3,013,294

)

(3,038,294

)

PROVISIONS FOR LIABILITIES (269 ) (121,610 )
NET ASSETS 2,783,029 2,699,391

CAPITAL AND RESERVES
Called up share capital 5 500 500
Revaluation reserve 2,133,768 2,133,768
Profit and loss account 648,761 565,123
SHAREHOLDERS' FUNDS 2,783,029 2,699,391

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the period ended 29 October 2015.

The members have not required the company to obtain an audit of its financial statements for the period ended 29 October 2015 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)

ABBREVIATED BALANCE SHEET - continued
29 OCTOBER 2015

DRAFT

The abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.


The financial statements were approved by the Board of Directors on 27 October 2016 and were signed on its
behalf by:





V H Johnson - Director


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

NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015

DRAFT

1. ACCOUNTING POLICIES

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.

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.

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.

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

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.

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

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.


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

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015


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.

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.

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.

Deferred tax is measured on a non-discounted basis.

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.

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.

Investments
Fixed asset investments are stated at cost less provision for diminution in value.

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)

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015

DRAFT

2. TANGIBLE FIXED ASSETS
Total
£   
COST
At 31 October 2014 6,103,355
Additions 1,295
At 29 October 2015 6,104,650
DEPRECIATION
At 31 October 2014 192,334
Charge for period 6,414
At 29 October 2015 198,748
NET BOOK VALUE
At 29 October 2015 5,905,902
At 30 October 2014 5,911,021

If freehold and investment properties had not been revalued, they would be included at the following
historical cost:

2015 2014
£ £
Cost 3,805,653 3,805,653

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.

3. FIXED ASSET INVESTMENTS

Investments (neither listed nor unlisted) were as follows:
2015 2014
£    £   
Other investments 6,900 6,900

4. CREDITORS

The following secured debts are included within creditors:

2015 2014
£    £   
Bank loans 3,113,294 3,138,294

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

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015


4. CREDITORS - continued
DRAFT

Creditors include the following debts falling due in more than five years:

2015 2014
£    £   
Repayable by instalments 3,013,294 3,038,294

5. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2015 2014
value: £    £   
500 Ordinary £1 500 500

6. TRANSACTIONS WITH DIRECTORS

The following advances and credits to directors subsisted during the period ended 29 October 2015
and the year ended 30 October 2014:

2015 2014
£    £   
R A Johnson
Balance outstanding at start of period (29 ) (22,939 )
Amounts advanced 24,460 33,931
Amounts repaid (29,029 ) (11,021 )
Balance outstanding at end of period (4,598 ) (29 )

K Johnson
Balance outstanding at start of period (29 ) (22,939 )
Amounts advanced 24,768 28,188
Amounts repaid (29,029 ) (5,278 )
Balance outstanding at end of period (4,290 ) (29 )

M Johnson
Balance outstanding at start of period (29 ) (22,939 )
Amounts advanced 27,813 30,182
Amounts repaid (29,029 ) (7,272 )
Balance outstanding at end of period (1,245 ) (29 )

V H Johnson
Balance outstanding at start of period (29 ) (22,939 )
Amounts advanced 22,497 29,751
Amounts repaid (29,029 ) (6,841 )
Balance outstanding at end of period (6,561 ) (29 )

The loans with directors are not interest bearing and there are no set repayment terms.

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

NOTES TO THE ABBREVIATED ACCOUNTS - continued
FOR THE PERIOD 31 OCTOBER 2014 TO 29 OCTOBER 2015

DRAFT

7. ULTIMATE CONTROLLING PARTY

There is no single controlling party.