Acorah Software Products - Accounts Production 16.0.110 false true 31 May 2023 1 June 2022 false 1 June 2023 31 May 2024 31 May 2024 11988364 Mr Thomas Broad Mr Joshua Rewcastle iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11988364 2023-05-31 11988364 2024-05-31 11988364 2023-06-01 2024-05-31 11988364 frs-core:CurrentFinancialInstruments 2024-05-31 11988364 frs-core:Non-currentFinancialInstruments 2024-05-31 11988364 frs-core:BetweenOneFiveYears 2024-05-31 11988364 frs-core:ComputerEquipment 2024-05-31 11988364 frs-core:ComputerEquipment 2023-06-01 2024-05-31 11988364 frs-core:ComputerEquipment 2023-05-31 11988364 frs-core:MotorVehicles 2024-05-31 11988364 frs-core:MotorVehicles 2023-06-01 2024-05-31 11988364 frs-core:MotorVehicles 2023-05-31 11988364 frs-core:PlantMachinery 2024-05-31 11988364 frs-core:PlantMachinery 2023-06-01 2024-05-31 11988364 frs-core:PlantMachinery 2023-05-31 11988364 frs-core:WithinOneYear 2024-05-31 11988364 frs-core:ShareCapital 2024-05-31 11988364 frs-core:RetainedEarningsAccumulatedLosses 2024-05-31 11988364 frs-bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 11988364 frs-bus:FilletedAccounts 2023-06-01 2024-05-31 11988364 frs-bus:SmallEntities 2023-06-01 2024-05-31 11988364 frs-bus:AuditExempt-NoAccountantsReport 2023-06-01 2024-05-31 11988364 frs-bus:SmallCompaniesRegimeForAccounts 2023-06-01 2024-05-31 11988364 frs-bus:Director1 2023-06-01 2024-05-31 11988364 frs-bus:Director2 2023-06-01 2024-05-31 11988364 frs-countries:EnglandWales 2023-06-01 2024-05-31 11988364 2022-05-31 11988364 2023-05-31 11988364 2022-06-01 2023-05-31 11988364 frs-core:CurrentFinancialInstruments 2023-05-31 11988364 frs-core:Non-currentFinancialInstruments 2023-05-31 11988364 frs-core:BetweenOneFiveYears 2023-05-31 11988364 frs-core:WithinOneYear 2023-05-31 11988364 frs-core:ShareCapital 2023-05-31 11988364 frs-core:RetainedEarningsAccumulatedLosses 2023-05-31
Registered number: 11988364
Joshua Thomas Finance Ltd
Unaudited Financial Statements
For The Year Ended 31 May 2024
Athena Accountants & Business Advisors Ltd
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11988364
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 102,655 70,082
102,655 70,082
CURRENT ASSETS
Debtors 5 183,369 119,207
Cash at bank and in hand 79,829 65,291
263,198 184,498
Creditors: Amounts Falling Due Within One Year 6 (74,543 ) (47,503 )
NET CURRENT ASSETS (LIABILITIES) 188,655 136,995
TOTAL ASSETS LESS CURRENT LIABILITIES 291,310 207,077
Creditors: Amounts Falling Due After More Than One Year 7 (67,016 ) (49,119 )
NET ASSETS 224,294 157,958
CAPITAL AND RESERVES
Called up share capital 9 1 1
Profit and Loss Account 224,293 157,957
SHAREHOLDERS' FUNDS 224,294 157,958
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For the year ending 31 May 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 directors acknowledge their 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Thomas Broad
Director
31/10/2024
The notes on pages 3 to 5 form part of these financial statements.
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Notes to the Financial Statements
1. General Information
Joshua Thomas Finance Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11988364 . The registered office is 34 Aldworth Avenue, Wantage, Oxfordshire, OX12 7EJ.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 33.3% straight line
Motor Vehicles 25% straight line
Computer Equipment 33.3% straight line
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Current tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 2)
2 2
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4. Tangible Assets
Plant & Machinery Motor Vehicles Computer Equipment Total
£ £ £ £
Cost
As at 1 June 2023 13,923 69,287 3,565 86,775
Additions 15,447 40,350 357 56,154
As at 31 May 2024 29,370 109,637 3,922 142,929
Depreciation
As at 1 June 2023 4,641 8,552 3,500 16,693
Provided during the period 9,790 13,607 184 23,581
As at 31 May 2024 14,431 22,159 3,684 40,274
Net Book Value
As at 31 May 2024 14,939 87,478 238 102,655
As at 1 June 2023 9,282 60,735 65 70,082
5. Debtors
2024 2023
£ £
Due within one year
Due after more than one year
Intercompany Loan - Rewcastle Homes Ltd 58,162 -
Intercompany Loan - Joshua Thomas Homes Ltd 125,207 119,207
183,369 119,207
6. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 8,601 6,740
Trade creditors - 350
Corporation tax 33,656 16,076
Accruals and deferred income 10,000 1,385
Directors' loan accounts 22,286 22,952
74,543 47,503
7. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Net obligations under finance lease and hire purchase contracts 67,016 49,119
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8. Obligations Under Finance Leases and Hire Purchase
2024 2023
£ £
The future minimum finance lease payments are as follows:
Not later than one year 14,621 10,800
Later than one year and not later than five years 76,150 57,578
90,771 68,378
Less: Finance charges allocated to future periods 15,154 12,519
75,617 55,859
9. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 1 1
10. Related Party Transactions
Joshua Thomas Homes LimitedJoshua Thomas Homes Limited is a company under common control. The loan advanced to the company during the year, as disclosed in note 5, is unsecured, interest free and repayable after one year.

Joshua Thomas Homes Limited

Joshua Thomas Homes Limited is a company under common control. The loan advanced to the company during the year, as disclosed in note 5, is unsecured, interest free and repayable after one year.

Rewcastle Homes LimitedJoshua Thomas Homes Limited is a company of which Joshua Rewcastle is also a Director. The loan advanced to the company during the year, as disclosed in note 5, is unsecured, interest free and repayable after one year.

Rewcastle Homes Limited

Joshua Thomas Homes Limited is a company of which Joshua Rewcastle is also a Director. The loan advanced to the company during the year, as disclosed in note 5, is unsecured, interest free and repayable after one year.

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