Company registration number 14535933 (England and Wales)
AUTO JOE LTD
FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
PAGES FOR FILING WITH REGISTRAR
AUTO JOE LTD
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
AUTO JOE LTD
BALANCE SHEET
AS AT
31 DECEMBER 2023
31 December 2023
- 1 -
2023
Notes
£
£
Fixed assets
Tangible assets
3
58,189
Current assets
Debtors
1,538
Creditors: amounts falling due within one year
4
(96,386)
Net current liabilities
(94,848)
Net liabilities
(36,659)
Capital and reserves
Called up share capital
5
5,000
Profit and loss reserves
(41,659)
Total equity
(36,659)

For the financial period ended 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 1 October 2024
Mr J  Probert
Director
Company registration number 14535933 (England and Wales)
AUTO JOE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 2 -
1
Accounting policies
Company information

Auto Joe Ltd is a private company limited by shares incorporated in England and Wales. The registered office is Bradbury House, Mission Court, Newport, Gwent, United Kingdom, NP20 2DW.

1.1
Reporting period

As this is the first set of accounts for the company, the director has elected to submit accounts for a 13 month period.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.3
Going concern

Atruet the time of approving the financial statements, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the director continues to adopt the going concern basis of accounting in preparing the financial statements.

1.4
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT.

1.5
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:

Fixtures and fittings
33.3% reducing balance
Motor vehicles
33.3% reducing balance
AUTO JOE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.6
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

 

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

1.7
Employee benefits

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

 

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

1.8
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

2
Employees

The average monthly number of persons (including directors) employed by the company during the period was:

2023
Number
Total
1
AUTO JOE LTD
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2023
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Motor vehicles
Total
£
£
£
Cost
At 12 December 2022
-
0
-
0
-
0
Additions
192
87,000
87,192
At 31 December 2023
192
87,000
87,192
Depreciation and impairment
At 12 December 2022
-
0
-
0
-
0
Depreciation charged in the period
32
28,971
29,003
At 31 December 2023
32
28,971
29,003
Carrying amount
At 31 December 2023
160
58,029
58,189
4
Creditors: amounts falling due within one year
2023
£
Trade creditors
300
Other creditors
96,086
96,386
5
Called up share capital
2023
2023
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £5000 each
1
5,000

As at 12 December 2022 one ordinary share valued at £5,000 was issued and fully paid.

2023-12-312022-12-12false01 October 2024CCH SoftwareCCH Accounts Production 2024.200No description of principal activityMr J Probertfalsefalse2024-10-01145359332022-12-122023-12-31145359332023-12-3114535933core:FurnitureFittings2023-12-3114535933core:MotorVehicles2023-12-3114535933core:CurrentFinancialInstrumentscore:WithinOneYear2023-12-3114535933core:CurrentFinancialInstruments2023-12-3114535933core:ShareCapital2023-12-3114535933core:RetainedEarningsAccumulatedLosses2023-12-3114535933bus:Director12022-12-122023-12-3114535933core:FurnitureFittings2022-12-122023-12-3114535933core:MotorVehicles2022-12-122023-12-3114535933core:FurnitureFittings2022-12-1114535933core:MotorVehicles2022-12-11145359332022-12-1114535933bus:PrivateLimitedCompanyLtd2022-12-122023-12-3114535933bus:SmallCompaniesRegimeForAccounts2022-12-122023-12-3114535933bus:FRS1022022-12-122023-12-3114535933bus:AuditExemptWithAccountantsReport2022-12-122023-12-3114535933bus:FullAccounts2022-12-122023-12-31xbrli:purexbrli:sharesiso4217:GBP