Joe Storey & Associates Limited 01110450 false 2021-07-01 2022-06-30 2022-06-30 The principal activity of the company is is that of installing, repairing and servicing chillers and associated equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 01110450 2021-07-01 2022-06-30 01110450 2022-06-30 01110450 core:RetainedEarningsAccumulatedLosses 2022-06-30 01110450 core:ShareCapital 2022-06-30 01110450 core:CurrentFinancialInstruments 2022-06-30 01110450 core:CurrentFinancialInstruments core:WithinOneYear 2022-06-30 01110450 core:FurnitureFittings 2022-06-30 01110450 core:MotorVehicles 2022-06-30 01110450 core:PlantMachinery 2022-06-30 01110450 bus:SmallEntities 2021-07-01 2022-06-30 01110450 bus:AuditExemptWithAccountantsReport 2021-07-01 2022-06-30 01110450 bus:FullAccounts 2021-07-01 2022-06-30 01110450 bus:SmallCompaniesRegimeForAccounts 2021-07-01 2022-06-30 01110450 bus:RegisteredOffice 2021-07-01 2022-06-30 01110450 bus:Director1 2021-07-01 2022-06-30 01110450 bus:PrivateLimitedCompanyLtd 2021-07-01 2022-06-30 01110450 core:FurnitureFittings 2021-07-01 2022-06-30 01110450 core:MotorVehicles 2021-07-01 2022-06-30 01110450 core:PlantMachinery 2021-07-01 2022-06-30 01110450 countries:AllCountries 2021-07-01 2022-06-30 01110450 2021-06-30 01110450 core:FurnitureFittings 2021-06-30 01110450 core:MotorVehicles 2021-06-30 01110450 core:PlantMachinery 2021-06-30 01110450 2020-07-01 2021-06-30 01110450 2021-06-30 01110450 core:RetainedEarningsAccumulatedLosses 2021-06-30 01110450 core:ShareCapital 2021-06-30 01110450 core:CurrentFinancialInstruments 2021-06-30 01110450 core:CurrentFinancialInstruments core:WithinOneYear 2021-06-30 01110450 core:FurnitureFittings 2021-06-30 01110450 core:MotorVehicles 2021-06-30 01110450 core:PlantMachinery 2021-06-30 iso4217:GBP xbrli:pure

Registration number: 01110450

Joe Storey & Associates Limited

Annual Report and Unaudited Financial Statements - Companies House Filing

for the Year Ended 30 June 2022

 

Joe Storey & Associates Limited

(Registration number: 01110450)
Statement of Financial Position as at 30 June 2022

Note

2022
£

2021
£

Fixed assets

 

Tangible assets

4

18,961

22,429

Current assets

 

Stocks

5

90,000

80,000

Debtors

6

1,212,108

916,117

Cash at bank and in hand

 

160,726

399,007

 

1,462,834

1,395,124

Creditors: Amounts falling due within one year

7

(1,405,730)

(1,468,188)

Net current assets/(liabilities)

 

57,104

(73,064)

Net assets/(liabilities)

 

76,065

(50,635)

Capital and reserves

 

Called up share capital

2,000

2,000

Profit and loss account

74,065

(52,635)

Shareholders' funds/(deficit)

 

76,065

(50,635)

For the financial year ending 30 June 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime and the option not to file the Income Statement has been taken.

Approved and authorised by the Board on 31 August 2022 and signed on its behalf by:
 

.........................................

Mr A P Wilkinson
Director

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
123 Harris Way
Windmill Road
Sunbury On Thames
Middlesex
TW16 7EL

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts.

The company recognises revenue when the amount of revenue can be reliably measured, it is probable that future economic benefits will flow to the entity and specific criteria have been met for each of the company's activities.

Government grants

Grants are accounted for under the accruals model as permitted by FRS 102. Grants of a revenue nature are recognised in “other operating income” within profit or loss in the same period as the related expenditure. This includes the Government Coronavirus Job Retention Scheme.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Fixtures and Fittings

25% on the reducing balance

Plant and Machinery

25% on the reducing balance

Motor Vehicles

25% on the reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 53 (2021 - 52).

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2022

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2021

15,423

13,558

26,177

55,158

Additions

2,853

-

-

2,853

At 30 June 2022

18,276

13,558

26,177

58,011

Depreciation

At 1 July 2021

6,203

12,655

13,871

32,729

Charge for the year

3,019

226

3,076

6,321

At 30 June 2022

9,222

12,881

16,947

39,050

Carrying amount

At 30 June 2022

9,054

677

9,230

18,961

At 30 June 2021

9,220

903

12,306

22,429

5

Stocks

2022
£

2021
£

Finished goods and goods for resale

90,000

80,000

6

Debtors

2022
£

2021
£

Trade debtors

1,190,365

862,558

Prepayments

9,543

41,009

Other debtors

12,200

12,550

1,212,108

916,117

7

Creditors

Creditors: amounts falling due within one year

2022
£

2021
£

Trade creditors

710,721

857,427

Taxation and social security

389,248

298,360

Accruals and deferred income

3,763

3,113

Other creditors

301,998

309,288

1,405,730

1,468,188