Joe's Generating Ltd 11329263 false 2023-06-01 2024-05-31 2024-05-31 The principal activity of the company is to supply electricity. Digita Accounts Production Advanced 6.30.9574.0 true true 11329263 2023-06-01 2024-05-31 11329263 2024-05-31 11329263 core:RetainedEarningsAccumulatedLosses 2024-05-31 11329263 core:ShareCapital 2024-05-31 11329263 core:CurrentFinancialInstruments core:WithinOneYear 2024-05-31 11329263 core:FurnitureFittingsToolsEquipment 2024-05-31 11329263 bus:SmallEntities 2023-06-01 2024-05-31 11329263 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 11329263 bus:FilletedAccounts 2023-06-01 2024-05-31 11329263 bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11329263 bus:RegisteredOffice 2023-06-01 2024-05-31 11329263 bus:Director1 2023-06-01 2024-05-31 11329263 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11329263 core:FurnitureFittings 2023-06-01 2024-05-31 11329263 core:FurnitureFittingsToolsEquipment 2023-06-01 2024-05-31 11329263 countries:EnglandWales 2023-06-01 2024-05-31 11329263 2023-05-31 11329263 core:FurnitureFittingsToolsEquipment 2023-05-31 11329263 2022-06-01 2023-05-31 11329263 2023-05-31 11329263 core:RetainedEarningsAccumulatedLosses 2023-05-31 11329263 core:ShareCapital 2023-05-31 11329263 core:CurrentFinancialInstruments core:WithinOneYear 2023-05-31 11329263 core:FurnitureFittingsToolsEquipment 2023-05-31 iso4217:GBP xbrli:pure

Registration number: 11329263

Joe's Generating Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 May 2024

 

Joe's Generating Ltd

(Registration number: 11329263)
Balance Sheet as at 31 May 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

31,458

39,322

Creditors: Amounts falling due within one year

5

(23,391)

(39,028)

Net assets

 

8,067

294

Capital and reserves

 

Called up share capital

100

100

Retained earnings

7,967

194

Shareholders' funds

 

8,067

294

For the financial year ending 31 May 2024 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 special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 1 August 2024 and signed on its behalf by:
 

.........................................
Mr JR Godfrey
Director

 

Joe's Generating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

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:
Unit 2
3&4 Block 8 Enterprise Way
Edenbridge
Kent
TN8 6HF
United Kingdom

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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 sales/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.

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's Generating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

Tangible assets

Tangible assets are stated in the balance sheet 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 & fittings

20% on reducing balance

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Joe's Generating Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 May 2024

4

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 June 2023

120,000

120,000

At 31 May 2024

120,000

120,000

Depreciation

At 1 June 2023

80,678

80,678

Charge for the year

7,864

7,864

At 31 May 2024

88,542

88,542

Carrying amount

At 31 May 2024

31,458

31,458

At 31 May 2023

39,322

39,322

5

Creditors

2024
£

2023
£

Due within one year

Taxation and social security

4,362

3,894

Accruals and deferred income

1,146

840

Other creditors

17,883

34,294

23,391

39,028