Company Registration No. 14243496 (England and Wales)
Joe Anthony Limited
Unaudited accounts
for the year ended 31 July 2024
Joe Anthony Limited
Unaudited accounts
Contents
Joe Anthony Limited
Company Information
for the year ended 31 July 2024
Company Number
14243496 (England and Wales)
Registered Office
Apartment 8
121 Upper Richmond Road
London
London
SW15 2DU
England
Accountants
Wallis & Co. Financial Services Limited
Starstone House
BS273JQ
Joe Anthony Limited
Statement of financial position
as at 31 July 2024
Investment property
276,557
114,369
Cash at bank and in hand
3,125
10,241
Creditors: amounts falling due within one year
(112,153)
(59,454)
Net current liabilities
(107,208)
(48,922)
Total assets less current liabilities
169,429
65,567
Creditors: amounts falling due after more than one year
(176,698)
(79,719)
Provisions for liabilities
Net liabilities
(12,291)
(14,152)
Called up share capital
1
1
Fair value reserve
21,410
-
Profit and loss account
(33,702)
(14,153)
Shareholders' funds
(12,291)
(14,152)
For the 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. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 29 April 2025 and were signed on its behalf by
Joe Marjason
Director
Company Registration No. 14243496
Joe Anthony Limited
Notes to the Accounts
for the year ended 31 July 2024
Joe Anthony Limited is a private company, limited by shares, registered in England and Wales, registration number 14243496. The registered office is Apartment 8, 121 Upper Richmond Road, London, London, SW15 2DU, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation of the financial statements
The financial statements are presented 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 on the historical cost convention as modified by the revaluation of certain fixed assets. The principle accounting policies adopted are set out below.
The directors have not identified any material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern.
Turnover is measured at the fair value of the consideration received or receivable and represented amounts of receivable for goods and services provided in the normal course of business, net of discounts, VAT and other sales related taxes.
Investment property is included at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit or loss.
The company has elected to apply the provision of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. Financial instruments are recognised 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.
Basic financial assets, which include trade and other debtors, amounts due from group undertakings and cash and bank balanaces, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost. Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entriety to an unrelated third party.
Basis financial liabilities, including trade and other creditors and amounts due to group undertakings are initially recognised at transaction price unless the arrangement constitutes a financial transaction, where the debt instrument is measured at the present value of future payments discounted at a market rate of interest. Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. Financial liabilities are derecognised when, and only when, the company's contractual obligations are discharged, cancelled, or they exprire.
Joe Anthony Limited
Notes to the Accounts
for the year ended 31 July 2024
Taxation for the year comprises current and deffered tax. Tax is recognised in the Profit and loss account, 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 is recognised in respects of all timing differences that have originiated 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 the 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 it probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax arising on the revaluation of investment property is recognised in accordance with Section 29 and presented as a separate provision.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
4
Tangible fixed assets
Computer equipment
Fair value at 1 August 2023
114,369
Net gain from fair value adjustments
26,431
Joe Anthony Limited
Notes to the Accounts
for the year ended 31 July 2024
Amounts falling due within one year
Accrued income and prepayments
1,820
291
7
Creditors: amounts falling due within one year
2024
2023
Loans from directors
111,193
58,098
8
Creditors: amounts falling due after more than one year
2024
2023
9
Provisions for liabilities
£
Additional provisions made during the period
5,022
The provision of £5,022 (2023: £nil) represents deferred corporation tax at 19 % on the unrealised revaluation surplus of £26,431 recognised on the investment property at 31 July 2024. The deferred tax will become payable when the gain crystallises on disposal of the property.
Allotted, called up and fully paid:
1 Ordinary shares of £1 each
1
1
11
Average number of employees
During the year the average number of employees was 1 (2023: 1).
12
Reconciliations on adoption of FRS 102