Joe Storey & Associates Limited 01110450 false 2023-07-01 2024-06-30 2024-06-30 The principal activity of the company is is that of installing, repairing and servicing chillers and associated equipment. Digita Accounts Production Advanced 6.30.9574.0 true true 01110450 2023-07-01 2024-06-30 01110450 2024-06-30 01110450 core:RetainedEarningsAccumulatedLosses 2024-06-30 01110450 core:ShareCapital 2024-06-30 01110450 core:FinanceLeases core:CurrentFinancialInstruments 2024-06-30 01110450 core:FinanceLeases core:Non-currentFinancialInstruments 2024-06-30 01110450 core:CurrentFinancialInstruments 2024-06-30 01110450 core:CurrentFinancialInstruments core:WithinOneYear 2024-06-30 01110450 core:Non-currentFinancialInstruments core:AfterOneYear 2024-06-30 01110450 core:FurnitureFittings 2024-06-30 01110450 core:MotorVehicles 2024-06-30 01110450 core:PlantMachinery 2024-06-30 01110450 bus:SmallEntities 2023-07-01 2024-06-30 01110450 bus:AuditExemptWithAccountantsReport 2023-07-01 2024-06-30 01110450 bus:FilletedAccounts 2023-07-01 2024-06-30 01110450 bus:SmallCompaniesRegimeForAccounts 2023-07-01 2024-06-30 01110450 bus:RegisteredOffice 2023-07-01 2024-06-30 01110450 bus:Director1 2023-07-01 2024-06-30 01110450 bus:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 01110450 core:FurnitureFittings 2023-07-01 2024-06-30 01110450 core:MotorVehicles 2023-07-01 2024-06-30 01110450 core:PlantMachinery 2023-07-01 2024-06-30 01110450 countries:EnglandWales 2023-07-01 2024-06-30 01110450 2023-06-30 01110450 core:FurnitureFittings 2023-06-30 01110450 core:MotorVehicles 2023-06-30 01110450 core:PlantMachinery 2023-06-30 01110450 2022-07-01 2023-06-30 01110450 2023-06-30 01110450 core:RetainedEarningsAccumulatedLosses 2023-06-30 01110450 core:ShareCapital 2023-06-30 01110450 core:FinanceLeases core:CurrentFinancialInstruments 2023-06-30 01110450 core:FinanceLeases core:Non-currentFinancialInstruments 2023-06-30 01110450 core:CurrentFinancialInstruments 2023-06-30 01110450 core:CurrentFinancialInstruments core:WithinOneYear 2023-06-30 01110450 core:Non-currentFinancialInstruments core:AfterOneYear 2023-06-30 01110450 core:FurnitureFittings 2023-06-30 01110450 core:MotorVehicles 2023-06-30 01110450 core:PlantMachinery 2023-06-30 iso4217:GBP xbrli:pure

Registration number: 01110450

Joe Storey & Associates Limited
 

Annual Report and Unaudited Financial Statements- Companies house filing

for the Year Ended 30 June 2024

 

Joe Storey & Associates Limited

(Registration number: 01110450)
Statement of Financial Position as at 30 June 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

199,243

17,021

Current assets

 

Stocks

5

70,000

70,000

Debtors

6

1,491,355

975,489

Cash at bank and in hand

 

203,445

246,239

 

1,764,800

1,291,728

Creditors: Amounts falling due within one year

7

(1,260,705)

(1,144,629)

Net current assets

 

504,095

147,099

Total assets less current liabilities

 

703,338

164,120

Creditors: Amounts falling due after more than one year

7

(194,625)

-

Provisions for liabilities

(49,557)

-

Net assets

 

459,156

164,120

Capital and reserves

 

Called up share capital

2,000

2,000

Profit and loss account

457,156

162,120

Shareholders' funds

 

459,156

164,120

For the financial year ending 30 June 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 provisions applicable to companies subject to the small companies' regime and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

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 Income Statement.

Approved and authorised by the Board on 24 March 2025 and signed on its behalf by:
 

 

Joe Storey & Associates Limited

(Registration number: 01110450)
Statement of Financial Position as at 30 June 2024

.........................................
Mr A P Wilkinson
Director

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 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: 123 Harris Way, Windmill Road, Sunbury On Thames, Middlesex, TW16 7EL.

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.

The financial statements are prepared in sterling, which is the functional currency of the entity.

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 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 and 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.

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 Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

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 statement of financial position 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 and Fittings

25% on the reducing balance

Plant and Machinery

25% on the reducing balance

Motor Vehicles

25% on the reducing balance

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade debtors

Short term debtors are measured at transaction price, less any impairment.

Cash and cash equivalents

Cash is represented by cash in hand and bank deposits.

Trade creditors

Short term creditors are measured at the transaction price.

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the income statement over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Provisions

Provisions are recognised when the company has an obligation at the reporting date as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

Leases

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

Employee benefits

Short-term employee benefits are recognised as an expense in the period which they are incurred.

Financial instruments

The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 46 (2023 - 48).

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

4

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Motor vehicles
 £

Total
£

Cost or valuation

At 1 July 2023

18,276

13,558

29,917

61,751

Additions

1,703

-

246,937

248,640

At 30 June 2024

19,979

13,558

276,854

310,391

Depreciation

At 1 July 2023

11,489

13,050

20,191

44,730

Charge for the year

2,125

127

64,166

66,418

At 30 June 2024

13,614

13,177

84,357

111,148

Carrying amount

At 30 June 2024

6,365

381

192,497

199,243

At 30 June 2023

6,787

508

9,726

17,021

5

Stocks

2024
£

2023
£

Finished goods and goods for resale

70,000

70,000

6

Debtors

2024
£

2023
£

Trade debtors

1,464,495

947,692

Other debtors

12,550

11,000

Prepayments

14,310

16,797

1,491,355

975,489

 

Joe Storey & Associates Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 June 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Bank loans and overdrafts

8

37,945

-

Trade creditors

 

584,376

563,922

Taxation and social security

 

183,327

178,001

Accruals and deferred income

 

4,104

3,938

Other creditors

 

450,953

398,768

 

1,260,705

1,144,629

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Loans and borrowings

8

194,625

-

8

Loans and borrowings

Non-current loans and borrowings

2024
£

2023
£

Finance lease liabilities

194,625

-

Current loans and borrowings

2024
£

2023
£

Finance lease liabilities

37,945

-