Registration number:
Report of the Director and
for the
Year Ended 31 October 2022
for
Longwood Management Ltd
Longwood Management Ltd
Contents of the Financial Statements
for the Year Ended 31 October 2022
Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Longwood Management Ltd
Company Information
for the Year Ended 31 October 2022
Director: |
Mr MI Skehill |
Registered office: |
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Registered number: |
09274286 |
Accountants: |
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Longwood Management Ltd
(Registration number: 09274286)
Balance Sheet as at 31 October 2022
Note |
31.10.22 |
31.10.21 |
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£ |
£ |
£ |
£ |
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FIXED ASSETS |
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Tangible assets |
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Investment property |
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CURRENT ASSETS |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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CREDITORS |
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Creditors within 1yr |
387,513 |
107,462 |
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Net current assets |
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Total assets less current liabilities |
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Creditors
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PROVISIONS FOR LIABILITES |
( |
( |
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Net assets |
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CAPITAL AND RESERVES |
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Called up share capital |
1 |
1 |
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Other reserves |
2,382,788 |
2,382,788 |
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Profit and loss account |
343,824 |
134,419 |
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Shareholders' funds |
2,726,613 |
2,517,208 |
For the financial year ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Longwood Management Ltd
(Registration number: 09274286)
Balance Sheet as at 31 October 2022 (continued)
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
Director's responsibilities:
• |
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• |
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
......................................... |
Longwood Management Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2022
1. |
General information |
The company is a private company limited by share capital, incorporated in England & Wales .
The address of its registered office is:
England
These financial statements were authorised for issue by the
2. |
Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
The presentational currency is Pound Sterling (£).
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Government grants
Government grants in relation to tangible fixed asset are credited to profit and loss account over he useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Tax
The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Longwood Management Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2022 (continued)
2 |
Accounting policies (continued) |
Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.
Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
No depreciation is charged on land and buildings as in the opinion of the director any depreciation would be immaterial.
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
25% straight line basis |
Fixtures and fittings |
25% straight line basis |
Investment property
3. |
Staff numbers |
The average number of persons employed by the company during the year, was
Longwood Management Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2022 (continued)
4. |
Tangible assets |
Fixtures and fittings |
Plant and machinery |
Total |
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Cost or valuation |
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At 1 November 2021 |
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Additions |
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- |
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At 31 October 2022 |
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Depreciation |
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At 1 November 2021 |
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Charge for the year |
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At 31 October 2022 |
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Carrying amount |
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At 31 October 2022 |
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At 31 October 2021 |
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5. |
Investment properties |
31.10.22 |
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At 1 November 2021 |
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Additions |
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At 31 October 2022 |
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The properties were valued at the year end on an open market basis by the director.
6. |
Debtors |
31.10.22 |
31.10.21 |
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Prepayments |
- |
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Other debtors |
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Included in other debtors was a director's loan of £100,510.21, including interests at the official rate and no repayment terms have been set.
Longwood Management Ltd
Notes to the Unaudited Financial Statements
for the Year Ended 31 October 2022 (continued)
7. |
Creditors |
Creditors: amounts falling due within one year
Note |
31.10.22 |
31.10.21 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Other creditors |
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Creditors: amounts falling due after more than one year
Note |
31.10.22 |
31.10.21 |
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Due after one year |
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Loans and borrowings |
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Other non-current financial liabilities |
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1,897,540 |
1,934,079 |
31.10.22 |
31.10.21 |
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Due after more than five years |
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After more than five years by instalments |
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- |
- |
8. |
Reserves |
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Retained Earnings |
Investment Property Reserve |
Totals |
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At 1 November 2021 |
134,419 |
2,382,788 |
2,517,207 |
Profit for the year |
299,405 |
- |
299,405 |
Dividends |
(90,000) |
- |
(90,000) |
343,824 |
2,382,788 |
2,726,612 |