| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 MARCH 2025 |
| FOR |
| JOE ASSETS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 MARCH 2025 |
| FOR |
| JOE ASSETS LIMITED |
| JOE ASSETS LIMITED (REGISTERED NUMBER: 09238172) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 March 2025 |
| Page |
| Company information | 1 |
| Balance sheet | 2 |
| Notes to the financial statements | 3 |
| JOE ASSETS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 28 March 2025 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 2nd Floor |
| Cumberland House |
| Oriel Road |
| Cheltenham |
| Gloucestershire |
| GL50 1BB |
| JOE ASSETS LIMITED (REGISTERED NUMBER: 09238172) |
| BALANCE SHEET |
| 28 March 2025 |
| 2025 | 2024 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
( |
) |
( |
) |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 7 | ( |
) | ( |
) |
| Retained earnings |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The directors acknowledge their 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 were approved by the Board of Directors and authorised for issue on |
| JOE ASSETS LIMITED (REGISTERED NUMBER: 09238172) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 28 March 2025 |
| 1. | STATUTORY INFORMATION |
| Joe Assets Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| BASIS OF PREPARING THE FINANCIAL STATEMENTS |
| TURNOVER |
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. |
| INVESTMENT PROPERTY |
| Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 29 March 2024 |
| Additions |
| Revaluations | 60,000 |
| At 28 March 2025 |
| NET BOOK VALUE |
| At 28 March 2025 |
| At 28 March 2024 |
| Fair value at 28 March 2025 is represented by: |
| £ |
| Valuation in 2023 | (390,935 | ) |
| Valuation in 2024 | (313,844 | ) |
| Valuation in 2025 | 60,000 |
| Cost | 2,494,779 |
| 1,850,000 |
| JOE ASSETS LIMITED (REGISTERED NUMBER: 09238172) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 28 March 2025 |
| 4. | INVESTMENT PROPERTY - continued |
| If the investment property had not been revalued it would have been included at the following historical cost: |
| 2025 | 2024 |
| £ | £ |
| Cost | 1,058,018 | 1,058,018 |
| The investment property was valued on an open market basis on 15 December 2025 by the director . |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Tax |
| Deferred tax asset |
| Prepayments |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2025 | 2024 |
| £ | £ |
| Trade creditors | ( |
) |
| Amounts owed to group undertakings |
| Directors' current accounts | 403,947 | 438,981 |
| Accrued expenses |
| 7. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 29 March 2024 |
| and 28 March 2025 | ( |
) |
| 8. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| Included within creditors is a balance owed to the director of £403,947 (2024 £438,981). This loan does not attract interest and has no repayment terms. |
| 9. | RELATED PARTY DISCLOSURES |
| At the end of the year, the company owed the following amounts advanced to company's in which Mr A Cotton is a director. These loans do not attract interest and have no repayment terms. All transactions were at arm's length. |
| Pitufina BVI £1,887,439 (2024 £1,911,946) |
| Pitufina IOM £812,461(2024 £802,144) |
| At the end of the year, the company was owed the following amounts advanced from company's in which Mr A Cotton is a director. These loans do not attract interest and have no repayment terms. All transactions were at arm's length. |
| Lucy Assets BVI £599,618 (2024 £654,121) |
| This company is 100% subsidiary of Pitufina IOM Ltd. The shares in Pittufina IOM Ltd are owned by Pitufina trust which is based in IOM. |