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REGISTERED NUMBER: 00260645 (England and Wales)


















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

LONGWORTH & TAYLOR LIMITED

LONGWORTH & TAYLOR LIMITED (REGISTERED NUMBER: 00260645)






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




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


LONGWORTH & TAYLOR LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTORS: Lady J Bellingham
Mrs S F Longworth
Mr P H Longworth





SECRETARY: Lady J Bellingham





REGISTERED OFFICE: 1st Floor
2B Beech Road
Hale
Cheshire
WA15 9HX





REGISTERED NUMBER: 00260645 (England and Wales)





ACCOUNTANTS: Allens Accountants Limited
Chartered Accountants
123 Wellington Road South
Stockport
Cheshire
SK1 3TH

LONGWORTH & TAYLOR LIMITED (REGISTERED NUMBER: 00260645)

BALANCE SHEET
31 DECEMBER 2023

31/12/23 31/12/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 6,536 8,020
Investment property 5 12,420,000 12,420,000
12,426,536 12,428,020

CURRENT ASSETS
Debtors 6 36,654 27,697
Cash at bank 556,905 458,911
593,559 486,608
CREDITORS
Amounts falling due within one year 7 86,494 78,638
NET CURRENT ASSETS 507,065 407,970
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,933,601

12,835,990

PROVISIONS FOR LIABILITIES 8 2,458,045 1,868,288
NET ASSETS 10,475,556 10,967,702

CAPITAL AND RESERVES
Called up share capital 9 100,000 100,000
Fair value reserve 10 7,373,433 7,963,308
Retained earnings 3,002,123 2,904,394
SHAREHOLDERS' FUNDS 10,475,556 10,967,702

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 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.

LONGWORTH & TAYLOR LIMITED (REGISTERED NUMBER: 00260645)

BALANCE SHEET - continued
31 DECEMBER 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 11 April 2024 and were signed on its behalf by:





Mr P H Longworth - Director


LONGWORTH & TAYLOR LIMITED (REGISTERED NUMBER: 00260645)

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

1. STATUTORY INFORMATION

Longworth & Taylor Limited 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.

Tangible fixed assets
Tangible fixed assets are stated at cost or valuation less depreciation.

Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their residual value, over their expected useful lives on the following bases:

Chief rents - 2% on cost
Freehold buildings - Nil
Motor vehicles - 25% reducing balance
Fixtures and fittings - 20% reducing balance

No depreciation is provided on freehold buildings. The company follows a programme of regular refurbishment and maintenance of its properties, which includes the reinstatement of the fabric of the building where necessary, in order to maintain them to a high standard. Accordingly in the opinion of the directors, any element of depreciation would be immaterial and no provision has been made.

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
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.

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LONGWORTH & TAYLOR LIMITED (REGISTERED NUMBER: 00260645)

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

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£    £    £   
COST
At 1 January 2023
and 31 December 2023 28,301 21,162 49,463
DEPRECIATION
At 1 January 2023 22,134 19,309 41,443
Charge for year 566 918 1,484
At 31 December 2023 22,700 20,227 42,927
NET BOOK VALUE
At 31 December 2023 5,601 935 6,536
At 31 December 2022 6,167 1,853 8,020

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023
and 31 December 2023 12,420,000
NET BOOK VALUE
At 31 December 2023 12,420,000
At 31 December 2022 12,420,000

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 9,828,170
Valuation in 2022 3,074
Cost 2,588,756
12,420,000

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Trade debtors 23,320 14,544
Other debtors 13,334 13,153
36,654 27,697

LONGWORTH & TAYLOR LIMITED (REGISTERED NUMBER: 00260645)

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

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/12/23 31/12/22
£    £   
Taxation and social security 40,273 29,966
Other creditors 46,221 48,672
86,494 78,638

8. PROVISIONS FOR LIABILITIES
31/12/23 31/12/22
£    £   
Deferred tax 2,458,045 1,868,288

Deferred
tax
£   
Balance at 1 January 2023 1,868,288
Charge to Income Statement during year 589,757
Balance at 31 December 2023 2,458,045

The deferred tax provision arises as a result of accelerated capital allowances and the revaluation of investment properties.

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 31/12/23 31/12/22
value: £    £   
100,000 Ordinary £1 100,000 100,000

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023 7,963,308
Transfer (589,875 )

At 31 December 2023 7,373,433