Company registration number 05985224 (England and Wales)
J. T. D. FINANCE LIMITED
ANNUAL REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2024
J. T. D. FINANCE LIMITED
COMPANY INFORMATION
Directors
M A T Davies
T A T Davies
D G Nathan
Secretary
D G Nathan
Company number
05985224
Registered office
Bull Courtyard
Bell Street
Henley On Thames
Oxfordshire
United Kingdom
RG9 2BA
Auditor
Begbies Chartered Accountants
J. T. D. FINANCE LIMITED
CONTENTS
Page
Directors' report
1
Independent auditor's report
2 - 4
Profit and loss account
5
Balance sheet
6
Notes to the financial statements
7 - 9
J. T. D. FINANCE LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 29 DECEMBER 2024
- 1 -

The directors present their annual report and financial statements for the year ended 29 December 2024.

Principal activities

The principal activity of the company continued to be that of a finance company.

Results and dividends

Ordinary dividends were paid amounting to £774,699. The directors do not recommend payment of a further dividend.

Directors

The directors who held office during the year and up to the date of signature of the financial statements were as follows:

M A T Davies
T A T Davies
D G Nathan
Statement of directors' responsibilities

The directors are responsible for preparing the annual report and the financial statements in accordance with applicable law and regulations.

Statement of disclosure to auditor

So far as each person who was a director at the date of approving this report is aware, there is no relevant audit information of which the company’s auditor is unaware. Additionally, the directors individually have taken all the necessary steps that they ought to have taken as directors in order to make themselves aware of all relevant audit information and to establish that the company’s auditor is aware of that information.

Small companies exemption

This report has been prepared in accordance with the provisions applicable to companies entitled to the small companies exemption.

On behalf of the board
T A T Davies
Director
20 May 2025
J. T. D. FINANCE LIMITED
INDEPENDENT AUDITOR'S REPORT
TO THE MEMBER OF J. T. D. FINANCE LIMITED
- 2 -
Opinion

We have audited the financial statements of J. T. D. Finance Limited (the 'company') for the year ended 29 December 2024 which comprise the profit and loss account, the balance sheet and notes to the financial statements, including significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- give a true and fair view of the state of the company's affairs as at 29 December 2024 and of its profit for the year then ended;

- have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditor's responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC’s Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The other information comprises the information included in the annual report other than the financial statements and our auditor's report thereon. The directors are responsible for the other information contained within the annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.

We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of our audit:

- the information given in the directors' r eport for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- the directors' report has been prepared in accordance with applicable legal requirements.

J. T. D. FINANCE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF J. T. D. FINANCE LIMITED
- 3 -
Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identifie d material misstatements in the directors' r eport. We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:

- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- the financial statements are not in agreement with the accounting records and returns; or

- certain disclosures of directors' remuneration specified by law are not made; or

- we have not received all the information and explanations we require for our audit; or

- the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption in preparing the directors' report and from the requirement to prepare a strategic report.

Responsibilities of directors

As explained more fully in the directors' r esponsibilities s tatement, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Auditor's responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities. The extent to which our procedures are capable of detecting irregularities, including fraud, is detailed below.

- agreement of the financial statement disclosures to underlying supporting documentation to assess compliance with those laws and regulations having an impact on the financial statements;

- enquiries and confirmation of management as to their identification of any non-compliance with laws or regulations, or any actual or potential claims;

- in relation to the risk of management override of controls, by undertaking procedures to review journal entries and evaluating whether there was evidence of bias that represented a risk of material misstatement due to fraud; and

- we assessed the susceptibility of the company's financial statements to material misstatement, including how fraud might occur, by considering the key risks impacting the financial statements.

Our audit procedures were designed to respond to risks of material misstatement in the financial statements, recognising that the risk of not detecting a material misstatement due to fraud is higher than the risk of not detecting one due to error, as fraud may involve deliberate concealment by, for example, forgery, misrepresentations or through collusion. There are inherent limitations in the audit procedures performed and the further removed non compliance with laws and regulations is from the events and transactions reflected in the financial statements, the less likely we are to become aware of it.

A further description of our responsibilities is available on the Financial Reporting Council’s website at: https://www.frc.org.uk/auditorsresponsibilities. This description forms part of our auditor's report.

J. T. D. FINANCE LIMITED
INDEPENDENT AUDITOR'S REPORT (CONTINUED)
TO THE MEMBER OF J. T. D. FINANCE LIMITED
- 4 -

Use of our report

This report is made solely to the company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's member those matters we are required to state to the member in an auditor's report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's member, for our audit work, for this report, or for the opinions we have formed.

Andrew Brooker FCA
For and on behalf of Begbies
23 May 2025
Chartered Accountants
Statutory Auditor
J. T. D. FINANCE LIMITED
PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 29 DECEMBER 2024
- 5 -
Year
Period
ended
ended
29 December
31 December
2024
2023
£
£
Turnover
-
-
Dividends from group companies
774,699
703,875
Interest receivable
553,332
574,503
Interst payable
(553,332)
(574,503)
Profit before taxation
774,699
703,875
Tax on profit
-
0
-
0
Profit for the financial year
774,699
703,875

The profit and loss account has been prepared on the basis that all operations are continuing operations.

J. T. D. FINANCE LIMITED
BALANCE SHEET
AS AT
29 DECEMBER 2024
29 December 2024
- 6 -
29 December 2024
31 December 2023
Notes
£
£
£
£
Fixed assets
Investments
3
2
2
Current assets
Debtors
4
41,114,764
43,901,835
Cash at bank and in hand
103,874
100,744
41,218,638
44,002,579
Creditors: amounts falling due within one year
5
(13,624,826)
(13,546,263)
Net current assets
27,593,812
30,456,316
Total assets less current liabilities
27,593,814
30,456,318
Creditors: amounts falling due after more than one year
6
(18,636,220)
(21,498,724)
Net assets
8,957,594
8,957,594
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
8,957,593
8,957,593
Total equity
8,957,594
8,957,594

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

The financial statements were approved by the board of directors and authorised for issue on 20 May 2025 and are signed on its behalf by:
T A T Davies
Director
Company registration number 05985224 (England and Wales)
J. T. D. FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 DECEMBER 2024
- 7 -
1
Accounting policies
Company information

J. T. D. Finance Limited is a private company limited by shares incorporated in England and Wales. The registered office is Bull Courtyard, Bell Street, Henley On Thames, Oxfordshire, United Kingdom, RG9 2BA.

1.1
Reporting period

I n line with group policy, the company prepares it's accounts up to the last Sunday in December each year. Accordingly the current reporting period is the 5 2 weeks ending 29th December 202 4. The comparative reporting period is the 5 3 weeks ending 31st December 2023.

1.2
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary a mounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

The directors have taken advantage of the exemption from preparing group accounts in s400 Companies Act

2006 as the company is wholly owned and its ultimate parent publishes consolidated accounts.

The directors have taken advantage of the exemption in FRS 102 1.11 from including a cash flow statement as the company is wholly owned and its ultimate parent publishes a consolidated

cash flow statement.

The financial statements of the company are consolidated in the financial statements of J. T. Davies & Sons Holdings Limited (company number 05985342). These consolidated financial statements are available from its registered office.

1.3
Fixed asset investments

Fixed asset investments are in respect of the company's wholly owned subsidiary and are carried at cost.

A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.

1.4
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand and all company bank accounts.

1.5
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial assets

F inancial assets are in respect of the company's interest in its subsidiary which is carried at cost and amounts due from group undertakings which are carried at the transaction price.

J. T. D. FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
1
Accounting policies
(Continued)
- 8 -
Financial liabilities

F inancial liabilities are in respect of accruals, bank loans and amounts payable to other group companies.

Financial liabilities classified as payable within one year are carried at the transaction price.

Financial liabilities classified as payable in over one year are in respect of bank loans, and are carried at amortised cost using the effective interest method.

1.6
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
3
3
3
Fixed asset investments
2024
2023
£
£
Investments in subsidiaries
2
2
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
41,114,764
43,901,835
5
Creditors: amounts falling due within one year
2024
2023
£
£
Bank loans
2,862,503
2,791,113
Amounts owed to group undertakings
10,695,777
10,695,777
Other creditors
66,546
59,373
13,624,826
13,546,263
J. T. D. FINANCE LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 29 DECEMBER 2024
- 9 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Bank loans
18,636,220
21,498,724
7
Loans and overdrafts
2024
2023
£
£
Bank loans
21,498,723
24,289,837
Payable within one year
2,862,503
2,791,113
Payable within two to five years
12,133,619
11,856,224
Payable in over five years
6,502,601
9,642,500

The bank loans are secured against freehold properties owned by W H Brakspear & Sons Limited as well as a fixed and floating charge over all assets of the group.

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