GigaJoule Limited 03936280 false 2023-08-01 2024-07-31 2024-07-31 The principal activity of the company is that of holding, managing and making investments in private companies, and providing short term consultancy and administrative services Digita Accounts Production Advanced 6.30.9574.0 true true 03936280 2023-08-01 2024-07-31 03936280 2024-07-31 03936280 bus:OrdinaryShareClass1 2024-07-31 03936280 core:FinancialAssetsCostLessImpairment core:Non-currentFinancialInstruments 2024-07-31 03936280 core:CurrentFinancialInstruments 2024-07-31 03936280 core:CurrentFinancialInstruments core:WithinOneYear 2024-07-31 03936280 bus:SmallEntities 2023-08-01 2024-07-31 03936280 bus:AuditExemptWithAccountantsReport 2023-08-01 2024-07-31 03936280 bus:FullAccounts 2023-08-01 2024-07-31 03936280 bus:SmallCompaniesRegimeForAccounts 2023-08-01 2024-07-31 03936280 bus:RegisteredOffice 2023-08-01 2024-07-31 03936280 bus:CompanySecretary1 2023-08-01 2024-07-31 03936280 bus:Director3 2023-08-01 2024-07-31 03936280 bus:OrdinaryShareClass1 2023-08-01 2024-07-31 03936280 bus:PrivateLimitedCompanyLtd 2023-08-01 2024-07-31 03936280 core:FurnitureFittings 2023-08-01 2024-07-31 03936280 core:OtherRelatedParties 2023-08-01 2024-07-31 03936280 countries:EnglandWales 2023-08-01 2024-07-31 03936280 2022-08-01 2023-07-31 03936280 2023-07-31 03936280 bus:OrdinaryShareClass1 2023-07-31 03936280 core:CurrentFinancialInstruments 2023-07-31 03936280 core:CurrentFinancialInstruments core:WithinOneYear 2023-07-31 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 03936280

GigaJoule Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 July 2024

 

GigaJoule Limited

Contents

Company Information

1

Statement of Director's Responsibilities

2

Balance Sheet

3

Notes to the Financial Statements

4 to 7

 

GigaJoule Limited

Company Information

Director

Mr Sean Gilbertson

Company secretary

Michaelides Warner & Co Limited

Registered office

1 Cathedral Piazza
London
SW1E 5BP

Accountants

Michaelides Warner & Co
102 Fulham Palace Road
London
W6 9PL

 

GigaJoule Limited

Statement of Director's Responsibilities

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' . Under company law the director must not approve the financial statements unless he is satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the director is required to:

select suitable accounting policies and apply them consistently;

make judgements and accounting estimates that are reasonable and prudent;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable him to ensure that the financial statements comply with the Companies Act 2006. He is also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

 

GigaJoule Limited

(Registration number: 03936280)
Balance Sheet as at 31 July 2024

Note

2024
£

2023
£

Fixed assets

 

Other financial assets

4

549,445

490,826

Current assets

 

Debtors

5

34,270

33,819

Cash at bank and in hand

 

116,328

145,984

 

150,598

179,803

Creditors: Amounts falling due within one year

6

(3,919)

(4,488)

Net current assets

 

146,679

175,315

Total assets less current liabilities

 

696,124

666,141

Provisions for liabilities

(7,106)

(7,106)

Net assets

 

689,018

659,035

Capital and reserves

 

Called up share capital

7

4

4

Retained earnings

689,014

659,031

Shareholders' funds

 

689,018

659,035

For the financial year ending 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's 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 director acknowledges his 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 director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 2 November 2024
 

.........................................
Mr Sean Gilbertson
Director

 

GigaJoule Limited

Notes to the Financial Statements for the Year Ended 31 July 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:
1 Cathedral Piazza
London
SW1E 5BP
England

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.

Judgements

The directors consider that there are no key judgements that management have made in the process of applying the company’s accounting policies and that may have had a significant effect on the amounts recognised in the financial statements.

Tax

The tax expense for the period comprises deferred 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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.

 

GigaJoule Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

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

Furniture and fittings

25% Straight line

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

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.

 

GigaJoule Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

Financial instruments

Classification
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like investments, trade and other receivables, cash and bank balances, trade and other creditors.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or cash consolidation expected to be paid or received.

 

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2023 - 1).

4

Other financial assets (current and non-current)

Financial assets at cost less impairment
£

Total
£

Non-current financial assets

Cost or valuation

At 1 August 2023

490,826

490,826

Additions

58,619

58,619

At 31 July 2024

549,445

549,445

Impairment

Carrying amount

At 31 July 2024

549,445

549,445

5

Debtors

2024
£

2023
£

Other debtors

34,270

33,819

34,270

33,819

 

GigaJoule Limited

Notes to the Financial Statements for the Year Ended 31 July 2024

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Accruals and deferred income

1,000

970

Other creditors

2,919

3,518

3,919

4,488

7

Share capital

Allotted, called up and fully paid shares

 

2024

2023

 

No.

£

No.

£

Ordinary share of £1 each

4

4

4

4

         

8

Related party transactions

Summary of transactions with other related parties

Included in other creditors is an amount owed to the Director of £2,919 (2023:3,518)