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REGISTERED NUMBER: 01061046 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2023

for

Longleaf Ltd

Longleaf Ltd (Registered number: 01061046)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Longleaf Ltd

Company Information
for the Year Ended 30 September 2023







DIRECTORS: Ms S Pennells
Ms J K Pennells





REGISTERED OFFICE: The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG





REGISTERED NUMBER: 01061046 (England and Wales)





ACCOUNTANTS: Knights Lowe
The Limes
32 Bridge Street
Thetford
Norfolk
IP24 3AG

Longleaf Ltd (Registered number: 01061046)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 - -
Investments 5 190,566 263,222
190,566 263,222

CURRENT ASSETS
Debtors 6 247,139 154,962
Cash at bank 24,996 11,857
272,135 166,819
CREDITORS
Amounts falling due within one year 7 33,958 3,944
NET CURRENT ASSETS 238,177 162,875
TOTAL ASSETS LESS CURRENT LIABILITIES 428,743 426,097

PROVISIONS FOR LIABILITIES 8 468 2,959
NET ASSETS 428,275 423,138

CAPITAL AND RESERVES
Called up share capital 9 15,000 15,000
Retained earnings 413,275 408,138
SHAREHOLDERS' FUNDS 428,275 423,138

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Longleaf Ltd (Registered number: 01061046)

Balance Sheet - continued
30 September 2023


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 20 October 2023 and were signed on its behalf by:





Ms S Pennells - Director


Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Longleaf 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.

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 as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 4 years straight line

Investments in associates
Investments in associate undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts d

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

2. ACCOUNTING POLICIES - continued

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Impairment
At each reporting date, tangible fixed assets and investments are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Fixed asset investments
Fixed asset investments have been measured at fair value through a revaluation. The revaluation of investments has been measured as the difference between the historical cost of the investments and the market value at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 13,332
Disposals (13,332 )
At 30 September 2023 -
DEPRECIATION
At 1 October 2022 13,332
Eliminated on disposal (13,332 )
At 30 September 2023 -
NET BOOK VALUE
At 30 September 2023 -

Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

5. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 October 2022 200 263,022 263,222
Additions - 127,153 127,153
Disposals - (209,164 ) (209,164 )
Revaluations - 9,355 9,355
At 30 September 2023 200 190,366 190,566
NET BOOK VALUE
At 30 September 2023 200 190,366 190,566
At 30 September 2022 200 263,022 263,222

Cost or valuation at 30 September 2023 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2023 - 2,462 2,462
Cost 200 187,904 188,104
200 190,366 190,566

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2023 2022
£    £   
Cost 187,904 269,845

Fixed asset investments were valued on an open market basis on 30 September 2023 by Transact .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 9,154 9,154
Other debtors 237,985 145,808
247,139 154,962

Included within Debtors is an amount due from group undertakings totalling £147,226 (2022 - £154,962).

Included within Other Debtors is an amount due from a connected party amounting to £63,552 (2022 - £nil).

Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Taxation and social security 26,238 796
Other creditors 7,720 3,148
33,958 3,944

Included in Other Creditors is an amount due to a shareholder amounting to £5,770 (2022 - £458).

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax
Accelerated capital allowances 468 2,959

Deferred
tax
£   
Balance at 1 October 2022 2,959
Provided during year (2,491 )
Balance at 30 September 2023 468

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 2023 2022
value: £ £
6,900 Ordinary 'A' £1 6,900 6,900
6,600 Ordinary 'B' £1 6,600 6,600
500 Ordinary 'C' £1 500 500
500 Ordinary 'D' £1 500 500
500 Ordinary 'E' £1 500 500
15,000 15,000

Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2023 and 30 September 2022:

2023 2022
£    £   
Ms S Pennells
Balance outstanding at start of year - -
Amounts advanced 1,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 1,000 -

Ms J K Pennells
Balance outstanding at start of year - -
Amounts advanced 10,000 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 10,000 -