Accounts filed on 31-08-2019

			Company registration number:		07355915
JOSHUA DEVELOPMENTS LTD
REPORT OF THE DIRECTOR'S AND
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 August 2019

JOSHUA DEVELOPMENTS LTD
BALANCE SHEET
AS AT 31 August 2019
					2019				2018
				Notes	£		£		£		£
FIXED ASSETS
Tangible assets				3			426,462				5,184
							426,462				5,184
CURRENT ASSETS
Stocks					399,077				675,550
Debtors					21,370				38,239
Cash at bank and in hand					26,110				540
					446,557				714,329
CREDITORS
Amounts falling due within one year					(34,847)				(54,945)
NET CURRENT ASSETS							411,710				659,384
TOTAL ASSETS LESS
CURRENT LIABILITIES							838,172				664,568
Creditors falling due after one year							(974,420)				(741,904)
NET ASSETS							(136,248)				(77,336)
CAPITAL AND RESERVES
Called-up equity share capital							1				1
Profit and loss account							(136,249)				(77,337)
SHAREHOLDERS FUNDS							(136,248)				(77,336)
For the year ending 31 August 2019 the company was entitled to exemption 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 the accounts.
All the members have consented to the preparation of abridged financial statements for the year ended 31 August 2019 in accordance with Section 444(2A) of the Companies Act 2006.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006. Approved by the board of directors on 26 August 2020 and signed on its behalf.
..........................................................................
Mr Roger James
26 August 2020
The annexed notes form part of these financial statements.

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JOSHUA DEVELOPMENTS LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2019

1.

Accounting policies

Statutory information

Joshua Developments Ltd is a private company, limited by shares, registered in England and Wales. The presentation currency of the financial statements is the £ sterling.

Statement of compliance

These financial statements have been prepared in accordance with the provisions of Section 1A 'Small entities' of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. There were no material departures from the standard.

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.

Turnover

Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.

Financial assets

Investment property is carried at fair value. Revaluation surpluses are recognised in the profit and loss account. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.

Fixed Assets

Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Plant and Machinery - 15% reducing balance basis.

Motor Vehicles - 25% reducing balance basis.

Stocks and Work In Progress

Work in progress is valued on the basis of direct costs plus attributable overheads based on normal level of activity. Provision is made for any forseeable losses where appropriate. No element of profit is included in the valuation of work in progress.

Leasing

Motor vehicle, plant and equipment acquired under finance leases or hire purchase contracts are capitalised and depreciated in the same manner as other tangible fixed assets. The related obligations, net of future finance charges, are included in creditors.

2.

Employees

The average number of persons employed by the company (including directors during the year was 2 (2018 : 2).

3.	Tangible fixed assets
				Total
	Cost
	At start of period			12,122
	Additions			424,000
	At end of period			436,122
	Depreciation
	At start of period			6,938
	Provided during the period			2,722
	At end of period			9,660
	Net Book Value
	At start of period			5,184
	At end of period			426,462

4.

Creditors due after more than one year

Creditors include bank, mortgage and private loans and net obligations under finance lease and hire purchase contracts. Hire purchase contracts which are secured are £2,591 (2018 - £4,983). The bank loans are secured b a fixed and floating charge over the company's assets and by debenture. Mortgages which are included in bank loans are secured by a legal charge over the company's assets.