Longwood Management Ltd 09274286 false 2021-11-01 2022-10-31 2022-10-31 The principal activity of the company is Other letting and operating of own or leased real estate. Digita Accounts Production Advanced 6.30.9574.0 true 09274286 2021-11-01 2022-10-31 09274286 2022-10-31 09274286 core:CurrentFinancialInstruments 2022-10-31 09274286 core:CurrentFinancialInstruments core:WithinOneYear 2022-10-31 09274286 core:Non-currentFinancialInstruments core:AfterOneYear 2022-10-31 09274286 core:MoreThanFiveYears 1 2022-10-31 09274286 core:FurnitureFittings 2022-10-31 09274286 core:PlantMachinery 2022-10-31 09274286 bus:SmallEntities 2021-11-01 2022-10-31 09274286 bus:AuditExemptWithAccountantsReport 2021-11-01 2022-10-31 09274286 bus:FullAccounts 2021-11-01 2022-10-31 09274286 bus:SmallCompaniesRegimeForAccounts 2021-11-01 2022-10-31 09274286 bus:RegisteredOffice 2021-11-01 2022-10-31 09274286 bus:Director1 2021-11-01 2022-10-31 09274286 bus:PrivateLimitedCompanyLtd 2021-11-01 2022-10-31 09274286 core:FurnitureFittings 2021-11-01 2022-10-31 09274286 core:PlantMachinery 2021-11-01 2022-10-31 09274286 countries:AllCountries 2021-11-01 2022-10-31 09274286 2021-10-31 09274286 core:FurnitureFittings 2021-10-31 09274286 core:PlantMachinery 2021-10-31 09274286 2020-11-01 2021-10-31 09274286 2021-10-31 09274286 core:CurrentFinancialInstruments 2021-10-31 09274286 core:CurrentFinancialInstruments core:WithinOneYear 2021-10-31 09274286 core:Non-currentFinancialInstruments core:AfterOneYear 2021-10-31 09274286 core:MoreThanFiveYears 1 2021-10-31 09274286 core:FurnitureFittings 2021-10-31 09274286 core:PlantMachinery 2021-10-31 iso4217:GBP xbrli:pure

Registration number: 09274286

Report of the Director and


Annual Report and Unaudited Financial Statements

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

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Longwood Management Ltd

Company Information
for the Year Ended 31 October 2022

Director:

Mr MI Skehill

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

09274286

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Longwood Management Ltd

(Registration number: 09274286)
Balance Sheet as at 31 October 2022

Note

31.10.22

31.10.21

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

4,852

 

20,400

Investment property

5

 

4,917,676

 

4,651,882

   

4,922,528

 

4,672,282

CURRENT ASSETS

   

 

Stocks

35,599

 

35,599

 

Debtors

6

484,088

 

306,068

 

Cash at bank and in hand

 

38,326

 

13,675

 

 

558,013

 

355,342

 

CREDITORS

   

 

Creditors within 1yr

7

387,513

 

107,462

 

Net current assets

   

170,500

 

247,880

Total assets less current liabilities

   

5,093,028

 

4,920,162

Creditors
Amounts falling due after more than one year

7

 

1,897,540

 

1,934,079

PROVISIONS FOR LIABILITES

 

(468,875)

 

(468,875)

Net assets

   

2,726,613

 

2,517,208

CAPITAL AND RESERVES

   

 

Called up share capital

 

1

 

1

Other reserves

 

2,382,788

 

2,382,788

Profit and loss account

 

343,824

 

134,419

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:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

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 director on 25 October 2023
 

.........................................
Mr MI Skehill
Director

 

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:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 25 October 2023.

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

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

3.

Staff numbers

The average number of persons employed by the company during the year, was 0 (2021 - 0).

 

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
£

Cost or valuation

At 1 November 2021

10,855

63,778

74,633

Additions

1,619

-

1,619

At 31 October 2022

12,474

63,778

76,252

Depreciation

At 1 November 2021

8,399

45,834

54,233

Charge for the year

1,223

15,944

17,167

At 31 October 2022

9,622

61,778

71,400

Carrying amount

At 31 October 2022

2,852

2,000

4,852

At 31 October 2021

2,456

17,944

20,400

5.

Investment properties

31.10.22
£

At 1 November 2021

4,651,882

Additions

265,794

At 31 October 2022

4,917,676

The properties were valued at the year end on an open market basis by the director.

6.

Debtors

31.10.22
£

31.10.21
£

Prepayments

-

4,331

Other debtors

484,088

301,737

484,088

306,068

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
£

Due within one year

 

Loans and borrowings

11,280

10,000

Trade creditors

 

83,484

42,233

Taxation and social security

 

102,636

19,748

Accruals and deferred income

 

1,440

11,280

Other creditors

 

188,673

24,201

 

387,513

107,462

Creditors: amounts falling due after more than one year

Note

31.10.22
£

31.10.21
£

Due after one year

 

Loans and borrowings

28,393

40,000

Other non-current financial liabilities

 

1,869,147

1,894,079

 

1,897,540

1,934,079

31.10.22
£

31.10.21
£

Due after more than five years

After more than five years by instalments

603,147

623,066

-

-

8.

Reserves

Retained Earnings
£

Investment Property Reserve
£

Totals
£

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