Company registration number 11857853 (England and Wales)
JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
PAGES FOR FILING WITH REGISTRAR
JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 6
JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2024
31 October 2024
- 1 -
2024
2023
Notes
£
£
£
£
Current assets
Stocks
3
1,000,000
1,010,644
Debtors
4
1,513,080
2,613
2,513,080
1,013,257
Creditors: amounts falling due within one year
5
(2,650,216)
(1,073,098)
Net current liabilities
(137,136)
(59,841)
Creditors: amounts falling due after more than one year
6
(690,374)
(690,374)
Net liabilities
(827,510)
(750,215)
Capital and reserves
Called up share capital
1
1
Profit and loss reserves
(827,511)
(750,216)
Total equity
(827,510)
(750,215)

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

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 28 August 2025 and are signed on its behalf by:
M Coath
Director
Company Registration No. 11857853
JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024
- 2 -
1
Accounting policies
1.1
Company information

James Taylor Homes (Blake House) 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.

1.2
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 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.

1.3
Going concern

The financial statements have been prepared on the going concern basis, notwithstanding net liabilities of £827,510 (2023: £750,215), however this is considered to be a material uncertainty.

 

There is a material uncertainty as the parent company, which has provided support, has recevied loans from related parties which may need to be recalled and if they are then the parent company may need to withdraw support from this company. The conditions relating to this uncertainty are ultimately derived from an external loan where conditions dictated by the lender have have not been met post year end.

 

The directors believe the company has adequate resources to continue in operational existence for the foreseeable future including support from the the company's parent company as they do not think it likley that the loan will need to be recalled.

1.4
Stocks

Stocks represents property acquired for development together with work in progress on those properties. The resultant stock and work in progress is valued at the lower of cost or net realisable value. Cost comprises the acquisition cost of the land and buildings, together with related legal and professional costs, development and borrowing costs.

 

In considering net realisable value, it is assumed that developments will be completed and sold in the ordinary course of business and not placed on the market for immediate sale in their current state of development.

 

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

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.

JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
1
Accounting policies
(Continued)
- 3 -
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.

1.8
Taxation

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 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.

1.9
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 4 -
2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated 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 an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

 

The key judgements and sources of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below.

Profit recognition

Stock consists of the acquisition cost of the land and buildings, together with related legal and professional costs, development and borrowing costs which is recorded as incurred during a project. An apportionment of stock is transferred to the profit and loss account when properties are sold on a project. The proportion of stock transferred is calculated so as to achieve a consistent margin across each individual project and is reliant on management's estimation of the total selling price. Estimation of the selling price is subject to significant inherent uncertainties, in particular the prediction of future trends in the value of property.

 

Whilst the Directors exercise due care and attention to make reasonable estimates, taking into account all available information in estimating the future selling price, the estimates may differ from the actual selling prices achieved in future periods.

 

With the exception of the estimate described above, the directors consider that there are no other significant judgements or estimates in the preparation of these financial statements.

3
Stocks
2024
2023
£
£
Stocks
1,000,000
1,010,644
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
1
376
Amounts owed by group undertakings
1,237,203
-
0
Other debtors
275,876
2,237
1,513,080
2,613
JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
- 5 -
5
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
98
399
Amounts owed to group undertakings
-
0
1,061,422
Other creditors
2,650,118
11,277
2,650,216
1,073,098

Other creditors contain non interest bearing loans that are deemed repaybable on demand.

6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
690,374
690,374

Loans within other creditors of £690,374 are secured by a first legal charge over the properties in which the mortgages relate to, and a full corporate guarantee by James Taylor Group Limited (a company with common directors). There is also a negative pledge.

7
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

We draw attention to note 1.3 of the financial statements, which describes that there is a material uncertainty relating to going concern.
Senior Statutory Auditor:
Alistair Campbell BA ACA
Statutory Auditor:
Azets Audit Services
8
Operating lease commitments
Lessor

The operating leases represent leases of residential property to third parties. There are options in place for either party to extend the lease terms.

At the reporting end date the company had contracted with tenants for the following minimum lease payments:

2024
2023
£
£
Total lease payments
-
1,820
9
Related party transactions
JAMES TAYLOR HOMES (BLAKE HOUSE) LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2024
9
Related party transactions
(Continued)
- 6 -

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 with the group.

10
Parent company

The directors regard James Taylor Homes Group Limited as the ultimate parent company. The registered office of the ultimate company is James Taylor House, St Albans Road East, Hatfield, Hertfordshire, AL10 0HE. The largest and smallest group of undertakings for which group financial statements have been drawn up is that headed by James Taylor Homes Group Limited. Copies of the group financial statements may be obtained from Companies House.

 

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