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REGISTERED NUMBER: 00068496 (England and Wales)









Financial Statements

for the Year Ended 31 December 2022

for

Longs Limited

Longs Limited (Registered number: 00068496)






Contents of the Financial Statements
for the Year Ended 31 December 2022




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


Longs Limited

Company Information
for the Year Ended 31 December 2022







DIRECTORS: M G Green
C L Green





SECRETARY: M G Green





REGISTERED OFFICE: Hanworth Lane Business Park
Hanworth Lane
Chertsey
Surrey
KT16 9LZ





REGISTERED NUMBER: 00068496 (England and Wales)





ACCOUNTANTS: Parker Cavendish
Chartered Accountants
28 Church Road
Stanmore
Middlesex
HA7 4XR

Longs Limited (Registered number: 00068496)

Statement of Financial Position
31 December 2022

2022 2021
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 2,770 3,693
Investments 5 654,626 654,626
657,396 658,319

CURRENT ASSETS
Inventories 40,644 43,114
Debtors 6 120,102 126,829
Cash at bank 2,282,462 2,152,035
2,443,208 2,321,978
CREDITORS
Amounts falling due within one year 7 (1,105,720 ) (1,111,311 )
NET CURRENT ASSETS 1,337,488 1,210,667
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,994,884

1,868,986

CAPITAL AND RESERVES
Called up share capital 3,890 3,890
Capital redemption reserve 9,090 9,090
Retained earnings 1,981,904 1,856,006
SHAREHOLDERS' FUNDS 1,994,884 1,868,986

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2022 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2023 and were signed on its behalf by:





M G Green - Director


Longs Limited (Registered number: 00068496)

Notes to the Financial Statements
for the Year Ended 31 December 2022

1. STATUTORY INFORMATION

Longs 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 (£).


2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant & machinery - 25% on reducing balance
Fixtures and fittings - 25% on reducing balance

Investments in subsidiaries
Investments in subsidiaries are measured at cost less accumulated impairment.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Foreign currencies
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.

Pension costs and other post-retirement benefits
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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2021 - 11 ) .

Longs Limited (Registered number: 00068496)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2022

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 January 2022
and 31 December 2022 274,375
DEPRECIATION
At 1 January 2022 270,682
Charge for year 923
At 31 December 2022 271,605
NET BOOK VALUE
At 31 December 2022 2,770
At 31 December 2021 3,693

5. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
COST
At 1 January 2022
and 31 December 2022 654,626
NET BOOK VALUE
At 31 December 2022 654,626
At 31 December 2021 654,626

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade debtors 110,433 117,420
Other debtors 9,669 9,409
120,102 126,829

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Trade creditors 98,453 90,765
Amounts owed to group undertakings 933,123 954,334
Taxation and social security 63,179 52,355
Other creditors 10,965 13,857
1,105,720 1,111,311

8. SECURED DEBTS

Lloyds Bank Plc holds fixed and floating charges over all assets of the company.