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REGISTERED NUMBER: 07656079 (England and Wales)















FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2024

FOR

JOSEPH STOREY LTD

JOSEPH STOREY LTD (REGISTERED NUMBER: 07656079)






CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3

Report of the Accountants 6

JOSEPH STOREY LTD

COMPANY INFORMATION
for the Year Ended 31st December 2024







DIRECTOR: Mr A Pellero





REGISTERED OFFICE: 95 King Street
Lancaster
LA1 1RH





REGISTERED NUMBER: 07656079 (England and Wales)





ACCOUNTANTS: Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH

JOSEPH STOREY LTD (REGISTERED NUMBER: 07656079)

BALANCE SHEET
31st December 2024

2024 2023
Notes £    £   
CURRENT ASSETS
Stocks 111,797 155,345
Debtors 5 212,275 269,810
Cash at bank 171,859 81,805
495,931 506,960
CREDITORS
Amounts falling due within one year 6 117,813 211,752
NET CURRENT ASSETS 378,118 295,208
TOTAL ASSETS LESS CURRENT
LIABILITIES

378,118

295,208

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 378,018 295,108
SHAREHOLDERS' FUNDS 378,118 295,208

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 31st January 2025 and were signed by:





Mr A Pellero - Director


JOSEPH STOREY LTD (REGISTERED NUMBER: 07656079)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31st December 2024

1. STATUTORY INFORMATION

Joseph Storey Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 33% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 2 ) .

JOSEPH STOREY LTD (REGISTERED NUMBER: 07656079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£   
COST
At 1st January 2024 1,099
Disposals (1,099 )
At 31st December 2024 -
DEPRECIATION
At 1st January 2024 1,099
Eliminated on disposal (1,099 )
At 31st December 2024 -
NET BOOK VALUE
At 31st December 2024 -
At 31st December 2023 -

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 211,917 269,428
Other debtors 358 382
212,275 269,810

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 56,388 148,414
Taxation and social security 54,550 56,938
Other creditors 6,875 6,400
117,813 211,752

JOSEPH STOREY LTD (REGISTERED NUMBER: 07656079)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31st December 2024

7. RELATED PARTY DISCLOSURES

During the year there were transactions between the company and the ultimate holding company, SCL Italia SpA.

The company purchased goods from SCL Italia SpA totalling £273,859 (2023 £580,152)

The company sold goods to SCL Italia SpA totalling £39,847 (2023 £64,517)

At the balance sheet date the company owed SCL Italia SpA:
Trade Creditors £56,113 (2023 £147,826)

At the balance sheet date the company was owed by SCL Italia SpA:
Trade Debtors £30,859 (2023 £32,091)


JOSEPH STOREY LTD

REPORT OF THE ACCOUNTANTS TO THE DIRECTOR OF
JOSEPH STOREY LTD

The following reproduces the text of the report prepared for the director in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Director are not required to be filed with the Registrar of Companies.

As described on the Balance Sheet you are responsible for the preparation of the financial statements for the year ended 31st December 2024 set out on page nil and you consider that the company is exempt from an audit.

In accordance with your instructions, we have compiled these unaudited financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and information and explanations supplied to us.

Our report is prepared solely for the confidential use of the above-named and should not be relied
upon by any third party without prior reference to ourselves.






Taylor, Robertson & Willett Ltd
95 King Street
Lancaster
Lancashire
LA1 1RH


31st January 2025