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REGISTERED NUMBER: 11959986 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2023

FOR

FURLONG LENNON LTD

FURLONG LENNON LTD (REGISTERED NUMBER: 11959986)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


FURLONG LENNON LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2023







DIRECTORS: P J FURLONG
MS D T LENNON





REGISTERED OFFICE: UNIT 9, UPLAND BUSINESS PARK C
BLACKHORSE LANE
WALTHAMSTOW
LONDON
E17 5QN





REGISTERED NUMBER: 11959986 (England and Wales)





ACCOUNTANTS: GOLDWYNS
CHARTERED ACCOUNTANTS
109 BAKER STREET
LONDON
W1U 6RP

FURLONG LENNON LTD (REGISTERED NUMBER: 11959986)

BALANCE SHEET
31 MARCH 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 800,000 800,000

CURRENT ASSETS
Cash at bank 38,545 19,527

CREDITORS
Amounts falling due within one year 5 690,227 687,914
NET CURRENT LIABILITIES (651,682 ) (668,387 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

148,318

131,613

PROVISIONS FOR LIABILITIES 36,054 27,401
NET ASSETS 112,264 104,212

CAPITAL AND RESERVES
Called up share capital 6 2 2
Investment property value gain
reserve 7 144,209 144,209
Retained earnings 7 (31,947 ) (39,999 )
SHAREHOLDERS' FUNDS 112,264 104,212

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 October 2023 and were signed on its behalf by:




P J FURLONG - Director


FURLONG LENNON LTD (REGISTERED NUMBER: 11959986)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2023

1. STATUTORY INFORMATION

Furlong Lennon Ltd 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.

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 as modified by the revaluation of certain assets.

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.

Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial statements of current and previous periods. It is recognised in respect of all timing differences, with certain exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date that are expected to apply to the reversal of timing differences.

Debtors and creditors receivable or payable within one year
Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses.

Impairment
Assets not measured at fair value are reviewed for any indication that the asset may be impaired at each balance sheet date. If such indication exists, the recoverable amount of the asset, or the asset's cash generating unit, is estimated and compared to the carrying amount. Where the carrying amount exceeds its recoverable amount, an impairment loss is recognised in profit or loss unless the asset is carried at a revalued amount where the impairment loss is a revaluation decrease.

Provisions
Provisions are recognised when the company has an obligation at the balance sheet date as a result of a past event, it is probable that an outflow of economic benefits will be required in settlement and the amount can be reliably estimated.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 2 ) .

FURLONG LENNON LTD (REGISTERED NUMBER: 11959986)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2023

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2022
and 31 March 2023 800,000
NET BOOK VALUE
At 31 March 2023 800,000
At 31 March 2022 800,000

Fair value at 31 March 2023 is represented by:
£   
Valuation in 2021 144,209
Cost 655,791
800,000

5. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 7 7
Tax 963 -
Directors' current accounts 684,707 684,707
Accruals and deferred income 4,550 3,200
690,227 687,914

6. CALLED UP SHARE CAPITAL


Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2

7. RESERVES
Investment
property
value
Retained gain
earnings reserve Totals
£    £    £   

At 1 April 2022 (39,999 ) 144,209 104,210
Profit for the year 8,052 8,052
At 31 March 2023 (31,947 ) 144,209 112,262