Registered number
09865534
LONGBEACH INVESTMENTS LIMITED
Unaudited Filleted Accounts
30 November 2023
LONGBEACH INVESTMENTS LIMITED
Registered number: 09865534
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 100,436 58,331
Investments 4 246,552 246,552
346,988 304,883
Current assets
Debtors 5 76,274 40,953
Cash at bank and in hand 10,404 64,837
86,678 105,790
Creditors: amounts falling due within one year 6 (7,618) (17,311)
Net current assets 79,060 88,479
Total assets less current liabilities 426,048 393,362
Provisions for liabilities (6,198) -
Net assets 419,850 393,362
Capital and reserves
Called up share capital 100 100
Capital reserve 7 235,000 235,000
Profit and loss account 184,750 158,262
Shareholders' funds 419,850 393,362
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.
RF Kirby
Director
Approved by the board on 4 April 2024
LONGBEACH INVESTMENTS LIMITED
Notes to the Accounts
for the year ended 30 November 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 rental income received, net of discounts and value added taxes.
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:
Plant & machinery over 4 years
Computer equipment over 3 years
Motor vehicles over 4 years
Investment property
Investment properties are revalued annually and any surplus or deficit is dealt with through the profit and loss account. No depreciation is provided in respect of investment properties.
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.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company - -
3 Tangible fixed assets
Plant and machinery Motor vehicles Total
£ £ £
Cost
At 1 December 2022 2,961 77,251 80,212
Additions - 61,614 61,614
At 30 November 2023 2,961 138,865 141,826
Depreciation
At 1 December 2022 2,568 19,313 21,881
Charge for the year 196 19,313 19,509
At 30 November 2023 2,764 38,626 41,390
Net book value
At 30 November 2023 197 100,239 100,436
At 30 November 2022 393 57,938 58,331
4 Investments
Investment
property
£
Cost
At 1 December 2022 246,552
At 30 November 2023 246,552
Historical cost
At 1 December 2022 246,552
At 30 November 2023 246,552
The freehold investment property was transferred to the company on 1 January 2016 at fair value of £235,000, with legal costs of £3,802. Mr R Kirby, a director of the company, considers the fair value is unchanged at 30 November 2023.
5 Debtors 2023 2022
£ £
Trade debtors 2,160 -
Deferred tax asset - 953
Other debtors 74,114 40,000
76,274 40,953
6 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 1,349 -
Corporation tax - 8,953
Other taxes and social security costs 2,969 2,234
Other creditors 3,300 6,124
7,618 17,311
7 Capital reserve 2023 2022
£ £
At 1 December 2022 235,000 235,000
At 30 November 2023 235,000 235,000
8 Other information
Longbeach Investments Limited is a private company limited by shares and incorporated in England. Its registered office is:
Hinxton Court
Hinxton Court
Saffron Walden
Essex
CB10 1RG
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