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REGISTERED NUMBER: 06042226 (England and Wales)















Jameson Homes Limited

Unaudited Financial Statements for the Year Ended 30 June 2023






Jameson Homes Limited (Registered number: 06042226)

Contents of the Financial Statements
for the Year Ended 30 June 2023










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Jameson Homes Limited

Company Information
for the Year Ended 30 June 2023







DIRECTORS: A J Lewis
L J Lewis





SECRETARY: A J Lewis





REGISTERED OFFICE: 1a Parliament Square
Parliament Street
Crediton
Devon
EX17 2AW





REGISTERED NUMBER: 06042226 (England and Wales)





ACCOUNTANTS: Haines Watts Accountants (Exeter) Limited
3 Southernhay West
Exeter
Devon
EX1 1JG

Jameson Homes Limited (Registered number: 06042226)

Balance Sheet
30 June 2023

2023 2022
Notes £    £   
FIXED ASSETS
Tangible assets 5 6,811 9,341

CURRENT ASSETS
Stocks 6 1,765,187 945,023
Debtors 7 2,922 2,867
Cash at bank 31,618 459,129
1,799,727 1,407,019
CREDITORS
Amounts falling due within one year 8 (2,678,811 ) (2,241,454 )
NET CURRENT LIABILITIES (879,084 ) (834,435 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(872,273

)

(825,094

)

CAPITAL AND RESERVES
Called up share capital 100,001 100,001
Retained earnings (972,274 ) (925,095 )
SHAREHOLDERS' FUNDS (872,273 ) (825,094 )

Jameson Homes Limited (Registered number: 06042226)

Balance Sheet - continued
30 June 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2023 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 8 March 2024 and were signed on its behalf by:





A J Lewis - Director


Jameson Homes Limited (Registered number: 06042226)

Notes to the Financial Statements
for the Year Ended 30 June 2023


1. STATUTORY INFORMATION

Jameson Homes Limited is a private company, limited by shares, registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

The significant accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated.

2. STATEMENT OF COMPLIANCE

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Sale of Residential Properties and Land - Turnover is recognised at legal completion in respect of the total proceeds of building and land sales. Turnover is measured at the fair value of consideration received or receivable and represents the amounts receivable for the property, net of VAT.

Construction contracts - Turnover is only recognised on a construction contract where the outcome can be estimated reliably. Turnover and costs are recognised by reference to the stage of completion of contract activity at the year-end date. This is normally measured by surveys of work performed to date. Contracts are only treated as construction contracts where they have been specifically negotiated for the construction of a property.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Leasehold property improvements - Over the term of the lease
Plant and machinery - 25% reducing balance
Office furniture, fixtures and fittings - 25% reducing balance
Motor vehicles - 25% reducing balance
Computer equipment and printers - 40% reducing balance

Stocks and work in progress
Stock and work in progress are valued at the lower of cost and estimated selling price less costs to complete and sell; which is equivalent to the net realisable value. Costs comprise direct materials, direct labour costs and those overheads which have been incurred in bringing the stocks to their present location and condition. Management assess the costs and where required will provide against the stock.

Properties held for sale are stated at the lower of cost and net realisable value.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.


Jameson Homes Limited (Registered number: 06042226)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


3. ACCOUNTING POLICIES - continued
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.

Pensions
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The company is reliant on the support of its shareholders to enable it to meet its day to day liabilities and the shareholders have indicated that their support will not be withdrawn in the foreseeable future.

Consequently, the directors have a reasonable expectation that the company has adequate resources to continue as a going concern for the foreseeable future and as such the financial statements have been drawn up on that basis.

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 2 ) .

5. TANGIBLE FIXED ASSETS
Office
furniture,
Leasehold fixtures
property Plant and and
improvements machinery fittings
£    £    £   
COST
At 1 July 2022 6,890 2,079 1
Additions - - -
At 30 June 2023 6,890 2,079 1
DEPRECIATION
At 1 July 2022 6,890 845 -
Charge for year - 315 1
At 30 June 2023 6,890 1,160 1
NET BOOK VALUE
At 30 June 2023 - 919 -
At 30 June 2022 - 1,234 1

Jameson Homes Limited (Registered number: 06042226)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


5. TANGIBLE FIXED ASSETS - continued

Computer
equipment
Motor and
vehicles printers Totals
£    £    £   
COST
At 1 July 2022 27,083 4,426 40,479
Additions - 295 295
At 30 June 2023 27,083 4,721 40,774
DEPRECIATION
At 1 July 2022 20,657 2,746 31,138
Charge for year 1,654 855 2,825
At 30 June 2023 22,311 3,601 33,963
NET BOOK VALUE
At 30 June 2023 4,772 1,120 6,811
At 30 June 2022 6,426 1,680 9,341


6. STOCKS
2023 2022
£    £   
Work-in-progress 1,765,187 945,023

Stocks consist of work in progress.

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 241 -
VAT 1,807 2,111
Prepayments and accrued income 874 756
2,922 2,867

Jameson Homes Limited (Registered number: 06042226)

Notes to the Financial Statements - continued
for the Year Ended 30 June 2023


8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Preference shares 1,500,000 1,500,000
Trade creditors 1,181 9,046
Supplier retentions payable 5,381 6,489
Amounts owed to group undertakings 1,165,000 720,000
Social security and other taxes 330 371
Other creditors - 435
Directors' current accounts 2,874 -
Accrued expenses 4,045 5,113
2,678,811 2,241,454

9. RELATED PARTY DISCLOSURES

Included within creditors: amounts falling due within one year is an intercompany loan in favour of the parent company. At the balance sheet date the amount due to the parent company was £1,165,000 (2022 - £720,000). The loan is interest free and repayable on demand.