Company registration number 07526135 (England and Wales)
JAMES TAYLOR DEVELOPMENTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH REGISTRAR
JAMES TAYLOR DEVELOPMENTS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
JAMES TAYLOR DEVELOPMENTS LIMITED
BALANCE SHEET
AS AT
30 NOVEMBER 2023
30 November 2023
- 1 -
30 November 2023
31 May 2022
Notes
£
£
£
£
Current assets
Debtors
3
4,943
-
0
Cash at bank and in hand
886
5,242
5,829
5,242
Creditors: amounts falling due within one year
4
(3,380)
(24,809)
Net current assets/(liabilities)
2,449
(19,567)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
2,448
(19,568)
Total equity
2,449
(19,567)

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial period ended 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The member has not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476.

These financial statements have been prepared and delivered 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 11 November 2024 and are signed on its behalf by:
M Coath
Director
Company Registration No. 07526135
JAMES TAYLOR DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 2 -
1
Accounting policies
Company information

James Taylor Developments Limited is a private company limited by shares incorporated in England and Wales. The registered office is James Taylor House, St. Albans Road East, Hatfield, Hertfordshire, United Kingdom, AL10 0HE.

1.1
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 amounts 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.

1.2
Going concern

The company has ceased trading during the period and the parent company James Taylor Group Limited has withdrawn its financial support for the company. The financial statements have been prepared on a basis other than that of a going concern. The Directors do not consider there to be a difference between the presenation of the financials under this basis compared to if the finanical statements were prepared on a going concern basis.

1.3
Reporting period

The company has changed its accounting reference to 30 November 2023 to be consistent with the year ends of other companies in the group. These financial statements therefore cover the period from 1 June 2022 to 30 November 2023. The prior year figures are for 12 months and therefore will not be comparable to the current reporting period as it is over 18 months.

1.4
Turnover

Turnover is measured at the fair value of the consideration received or receivable from the sale of consultancy services provided to customers.

1.5
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.6
Trade and other debtors

Trade and other debtors are measured at transaction price less any impairment unless the arrangement constitutes a financing transaction in which case the transaction is measured at the present value of the future receipts discounted at the prevailing market rate of interest . Loans are initially measured at fair value and are subsequently measured at amortised cost using the effective interest method less any impairment.

1.7
Trade and other creditors

Trade and other creditors are measured at their transaction price unless the arrangement constitutes a financing transaction in which case the transaction is measured at present value of future payments discounted at prevailing market rate of interest. Other financial liabilities are initially measured at fair value net of their transaction costs. They are subsequently measured at amortised cost using the effective interest method.

JAMES TAYLOR DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
1
Accounting policies
(Continued)
- 3 -
1.8
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

Current tax is recognised for the amount of income tax payable in respect of the taxable profit for the current or past reporting periods using tax rates that have been enacted or substantively enacted by the reporting date.

Deferred tax

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against future taxable profits or against the reversal of deferred tax liabilities.

 

Deferred tax is calculated using tax rates that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

The company is exempt from corporation tax, it being a company not carrying on a business for the purposes of making a profit.

2
Judgements and key sources of estimation uncertainty
The preparation of financial statements requires management to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the year in which the estimate is revised if the revision affects only that year, or in the year of the revision and future years if the revision affects both current and future years.

The directors consider that there are no significant judgements or estimates in the preparation of these financial statements.
3
Debtors
2023
2022
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
4,932
-
0
Other debtors
11
-
0
4,943
-
0
4
Creditors: amounts falling due within one year
2023
2022
£
£
Amounts owed to group undertakings
-
0
21,609
Other creditors
3,380
3,200
3,380
24,809
JAMES TAYLOR DEVELOPMENTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 30 NOVEMBER 2023
- 4 -
5
Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102

'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related

party transactions with wholly owned subsidiaries within the group.

6
Ultimate parent company
The directors regard James Taylor Group Limited as the ultimate parent company. The registered office of James Taylor Group Limited is James Taylor House, St Albans Road East, Hatfield, Hertfordshire, AL10 0HE.
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