Registered number
09849562
The Long Table Limited
Filleted Accounts
31 October 2023
The Long Table Limited
Registered number: 09849562
Balance Sheet
as at 31 October 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 4 108,824 165,581
Current assets
Stocks 2,600 10,239
Debtors 5 490,100 452,109
Cash at bank and in hand 366,986 104,472
859,686 566,820
Creditors: amounts falling due within one year 6 (253,546) (148,367)
Net current assets 606,140 418,453
Total assets less current liabilities 714,964 584,034
Creditors: amounts falling due after more than one year 7 (15,185) (25,185)
Provisions for liabilities (24,186) (19,503)
Net assets 675,593 539,346
Capital and reserves
Called up share capital 102 100
Profit and loss account 675,491 539,246
Shareholders' funds 675,593 539,346
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
S J Stallard
Director
Approved by the board on 31 March 2024
The Long Table Limited
Notes to the Accounts
for the year ended 31 October 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Leasehold land and buildings 10% reducing balance basis
Plant and machinery 10% reducing balance basis
Fixtures, fittings, tools and equipment 10% reducing balance basis
Motor Vehicles 25% reducing balance basis
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 17 25
3 Intangible fixed assets £
Goodwill:
Cost
At 1 November 2022 22,000
Disposals (11,000)
At 31 October 2023 11,000
Amortisation
At 1 November 2022 22,000
On disposals (11,000)
At 31 October 2023 11,000
Net book value
At 31 October 2023 -
Goodwill is being written off in equal annual instalments over its estimated economic life of 5 years.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Motor vehicles Total
£ £ £ £
Cost
At 1 November 2022 62,937 171,717 39,578 274,232
Additions 1,418 9,996 - 11,414
Disposals (62,937) (23,306) - (86,243)
At 31 October 2023 1,418 158,407 39,578 199,403
Depreciation
At 1 November 2022 26,797 57,985 23,869 108,651
Charge for the year - 10,624 3,927 14,551
On disposals (26,797) (5,826) - (32,623)
At 31 October 2023 - 62,783 27,796 90,579
Net book value
At 31 October 2023 1,418 95,624 11,782 108,824
At 31 October 2022 36,140 113,732 15,709 165,581
5 Debtors 2023 2022
£ £
Trade debtors 28,480 -
Other debtors 461,620 452,109
490,100 452,109
Amounts due after more than one year included above 360,811 370,000
6 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 10,648 10,894
Trade creditors 107,021 65,379
Taxation and social security costs 90,456 68,137
Other creditors 45,421 3,957
253,546 148,367
7 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 15,185 25,185
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
S J Stallard
Interest charged at 2.00% APR. Repayable on demand 11,112 10,509 (21,621) -
J Glass
Interest charged at 2.00% APR. Repayable on demand 11,112 10,509 (21,621) -
22,224 21,018 (43,242) -
9 Related party transactions
During the year the company made further advances of £46,504.73 in the form of loans and expenses paid on their behalf, to a company which is wholly owned by both Directors and Shareholders. A total aggregate sum of £34,132.82 was repaid in the year and interest applied on the total outstanding balance of the loan at 5% APR.
10 Other information
The Long Table Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1 The Quarry
Highertown
Portscatho
Truro
TR2 5HP
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