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.

James Taylor Design and Build 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.

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.

The company has taken advantage of the exemption under section 400 of the Companies Act 2006 not to prepare consolidated accounts. The financial statements present information about the company as an individual entity and not about its group.

Having prepared forecasts and projections for the company, taking into account the economic conditions and possible changes in trading performance, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements. However, because not all future events or conditions can be predicted, this statement is not a guarantee as to the company's ability to continue as a going concern.

Turnover is the aggregate of all invoiced sales adjusted for amounts recoverable on contracts at the beginning and end of the year, stated net of value added tax and is recognised upon the delivery of services.

Turnover is recognised using the percentage-of-completion method for construction contracts. Stage of completion of a contract is determined by surveys when available or the proportion of costs incurred for work performed to the estimate total costs.

As allowed under FRS102 23.18, where necessary to reflect the underlying substance of a contract, the reliably estimated outcome of separately identifiable components of a contracts are considered in isolation.

When it is probable that total contract costs will exceed total contract revenue on a construction contract, the expected loss is recognised as an expense immediately.

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

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.

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.

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.

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.

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.

The costs of short-term employee benefits are recognised as a liability and an expense, unless those costs are required to be recognised as part of the cost of stock or fixed assets.

The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.

Termination benefits are recognised immediately as an expense when the company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

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.

Regarding the other creditors balance in relation to contract liabilities. There is an estimation involved in the calculation of the liability. Management estimate the costs yet to be incurred and therfore the anticipated profitability of the contract when using the percentage completion method to calculate revenue earned. As contracts oftern span multiple years, there is estimation uncertainty regarding the final cost to the company for each contract undertaken.

Due to the large values involved, the level of estimate uncertainty regarding future cost and their direct impact on the reported revenue and profit, the Directors recognise that the final estimate is key and judgements involved are significant.

The directors consider there to be no other significant judgements or estimates in preparation of these financial statements.

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

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.

During the year the company entered into the following transactions with related parties:

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.

The following amounts were outstanding at the reporting end date:

The directors regard James Taylor Homes Group Limited as the ultimate parent company. The registered office of the ultimate parent 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.