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Registration number: 02953308

Longmead Land Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 October 2023

 

Longmead Land Limited

Contents

Company Information

1

Balance Sheet

2 to 4

Notes to the Unaudited Financial Statements

5 to 9

 

Longmead Land Limited

Company Information

Directors

Mr S D Bowen

Mrs A L Bowen

Company secretary

Mrs A L Bowen

Registered office

11 Woolmer Way Industrial Estate
Bordon
HAMPSHIRE
GU35 9QE

Accountants

Howard Smith & Co Limited
Chartered Accountants
First Floor
Bellamy House
Winton Road
Petersfield
Hampshire
GU32 3HA

 

Longmead Land Limited

(Registration number: 02953308)
Balance Sheet as at 31 October 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

1,163,457

1,177,643

Investments

5

795

795

 

1,164,252

1,178,438

Current assets

 

Debtors

6

-

217

Cash at bank and in hand

 

94,310

87,250

 

94,310

87,467

Creditors: Amounts falling due within one year

7

(96,878)

(208,036)

Net current liabilities

 

(2,568)

(120,569)

Total assets less current liabilities

 

1,161,684

1,057,869

Provisions for liabilities

(1,330)

(931)

Net assets

 

1,160,354

1,056,938

Capital and reserves

 

Called up share capital

795

795

Retained earnings

1,159,559

1,056,143

Shareholders' funds

 

1,160,354

1,056,938

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

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.

Approved and authorised by the Board on 19 March 2024 and signed on its behalf by:
 

 

Longmead Land Limited

(Registration number: 02953308)
Balance Sheet as at 31 October 2023

.........................................
Mr S D Bowen
Director

.........................................
Mrs A L Bowen
Company secretary and director

 

Longmead Land Limited

(Registration number: 02953308)
Balance Sheet as at 31 October 2023

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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

 

Longmead Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
11 Woolmer Way Industrial Estate
Bordon
HAMPSHIRE
GU35 9QE

These financial statements were authorised for issue by the Board on 19 March 2024.

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.

Group accounts not prepared

The financial statements contain information about Longmead Land Limited and do not contain consolidated financial information as a parent of a group. The company has taken the option under section 398 of the Companies Act 2006 not to prepare consolidated financial statements..

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax.

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 the company's activities.

Tax

The tax expense for the period comprises current and deferred 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.

 

Longmead Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Deferred tax is provided on the liability method to take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes.

Tax deferred or accelerated is accounted for in respect of all material timing differences.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

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

Long leasehold property

in accordance with the lease

Investments

Investments in subsidiaries are included at cost.

Dividends are recognised in income when receivable.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

 

Longmead Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

4

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 November 2022

1,378,718

1,378,718

At 31 October 2023

1,378,718

1,378,718

Depreciation

At 1 November 2022

201,075

201,075

Charge for the year

14,186

14,186

At 31 October 2023

215,261

215,261

Carrying amount

At 31 October 2023

1,163,457

1,163,457

At 31 October 2022

1,177,643

1,177,643

Included within the net book value of land and buildings above is £1,163,457 (2022 - £1,177,643) in respect of long leasehold land and buildings.
 

5

Investments

2023
£

2022
£

Investments in subsidiaries

795

795

Subsidiaries

£

Cost or valuation

At 1 November 2022

795

Provision

Carrying amount

At 31 October 2023

795

At 31 October 2022

795

 

Longmead Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Details of undertakings

Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

     

2023

2022

Subsidiary undertakings

Fenwood Bowen Limited

11 Woolmer Way Industrial Estate
Bordon
Hampshire
GU35 9QE

ENGLAND

795 Ordinary £1 shares

100%

100%

Subsidiary undertakings

Fenwood Bowen Limited

The principal activity of Fenwood Bowen Limited is design, manufacture and sale of plastic products.

6

Debtors

Current

Note

2023
£

2022
£

Amounts owed by related parties

9

-

217

   

-

217

7

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Loans and borrowings

8

-

24,759

Taxation and social security

 

7,568

-

Accruals and deferred income

 

1,050

875

Amounts owed to related parties

 

88,260

182,402

 

96,878

208,036

Creditors include bank loans which are secured of £nil ( 2021 - £24,759).

 

Longmead Land Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

Creditors: amounts falling due after more than one year

2023
£

2022
£

8

Loans and borrowings

2023
£

2022
£

Current loans and borrowings

Bank borrowings

-

24,759

9

Related party transactions

Directors' remuneration

The directors' remuneration for the year was as follows:

2023
£

2022
£

Contributions paid to money purchase schemes

5,400

64,400

Other transactions with directors

The company owed the directors £87,402 as at 31 October 2023 (2022: £182,402). This is repayable upon demand and is shown in current liabilities.

Summary of transactions with subsidiaries

Fenwood Bowen Limited
 During the year rent of £134,000 was charged to the subsidiary in respect of the use of the property in its trade. (2021: £90,000). The subsidiary reclaimed input VAT amounting to £175 (2022: £175) in respect of expenses incurred by the company. As at 31 October 2023 Longmead Land Limited owed the subsidiary £858 (2022; debtor £217).