Registered number
10778993
Joe's Got Wood Limited
Accounts
For the Year Ended
31 May 2023
Oakensen
Chartered Accountants
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
Joe's Got Wood Limited
Registered number: 10778993
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 - 26,240
Current assets
Debtors 4 - 175
Cash at bank and in hand - 368
- 543
Creditors: amounts falling due within one year 5 (2,823) (7,528)
Net current liabilities (2,823) (6,985)
Total assets less current liabilities (2,823) 19,255
Creditors: amounts falling due after more than one year 6 (55,231) (67,803)
Net liabilities (58,054) (48,548)
Capital and reserves
Called up share capital 100 100
Profit and loss account (58,154) (48,648)
Shareholder's funds (58,054) (48,548)
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
B E Cowling
Director
Approved by the board on 23 August 2024
Joe's Got Wood Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover is recognised when sales have been completed.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery over 5 years
Debtors
Short term debtors are measured at transaction price, which is usually the invoice price, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price, which is usually the invoice price.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 2
3 Tangible fixed assets
Plant and machinery
£
Cost
At 1 June 2022 45,932
Disposals (45,932)
At 31 May 2023 -
Depreciation
At 1 June 2022 19,692
On disposals (19,692)
At 31 May 2023 -
Net book value
At 31 May 2023 -
At 31 May 2022 26,240
4 Debtors 2023 2022
£ £
Other debtors - 175
5 Creditors: amounts falling due within one year 2023 2022
£ £
Hire purchase - 4,560
Trade creditors 2,390 1,935
Other creditors 433 1,033
2,823 7,528
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 42,887 47,739
Obligations under finance lease and hire purchase contracts - 14,060
Other creditors 12,344 6,004
55,231 67,803
7 Related party transactions
Included in creditors due after one year is an amount of £12,344 (2021: £6,004) owed to the director.
8 Other information
Joe's Got Wood Limited is a private company limited by shares and incorporated in England. Its registered office is:
Bryer Ash Business Park
Trowbridge
Wiltshire
BA14 8HE
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