Langcourt Limited 01859675 false 2022-12-01 2023-11-30 2023-11-30 The principal activity of the company is refurbishing engine cylinders. Digita Accounts Production Advanced 6.30.9574.0 true 01859675 2022-12-01 2023-11-30 01859675 2023-11-30 01859675 core:FinancialAssetsDesignatedFairValueThroughProfitOrLoss core:Non-currentFinancialInstruments 2023-11-30 01859675 core:CurrentFinancialInstruments 2023-11-30 01859675 core:CurrentFinancialInstruments core:WithinOneYear 2023-11-30 01859675 core:ConstructionInProgressAssetsUnderConstruction 2023-11-30 01859675 core:FurnitureFittingsToolsEquipment 2023-11-30 01859675 core:LandBuildings 2023-11-30 01859675 core:MotorVehicles 2023-11-30 01859675 core:OtherPropertyPlantEquipment 2023-11-30 01859675 bus:SmallEntities 2022-12-01 2023-11-30 01859675 bus:AuditExemptWithAccountantsReport 2022-12-01 2023-11-30 01859675 bus:FilletedAccounts 2022-12-01 2023-11-30 01859675 bus:SmallCompaniesRegimeForAccounts 2022-12-01 2023-11-30 01859675 bus:RegisteredOffice 2022-12-01 2023-11-30 01859675 bus:CompanySecretaryDirector1 2022-12-01 2023-11-30 01859675 bus:Director2 2022-12-01 2023-11-30 01859675 bus:PrivateLimitedCompanyLtd 2022-12-01 2023-11-30 01859675 core:Buildings 2022-12-01 2023-11-30 01859675 core:ConstructionInProgressAssetsUnderConstruction 2022-12-01 2023-11-30 01859675 core:FurnitureFittings 2022-12-01 2023-11-30 01859675 core:FurnitureFittingsToolsEquipment 2022-12-01 2023-11-30 01859675 core:LandBuildings 2022-12-01 2023-11-30 01859675 core:MotorVehicles 2022-12-01 2023-11-30 01859675 core:OtherPropertyPlantEquipment 2022-12-01 2023-11-30 01859675 core:OtherVehicles 2022-12-01 2023-11-30 01859675 core:PlantMachinery 2022-12-01 2023-11-30 01859675 countries:EnglandWales 2022-12-01 2023-11-30 01859675 2022-11-30 01859675 core:ConstructionInProgressAssetsUnderConstruction 2022-11-30 01859675 core:FurnitureFittingsToolsEquipment 2022-11-30 01859675 core:LandBuildings 2022-11-30 01859675 core:MotorVehicles 2022-11-30 01859675 core:OtherPropertyPlantEquipment 2022-11-30 01859675 2021-12-01 2022-11-30 01859675 2022-11-30 01859675 core:CurrentFinancialInstruments 2022-11-30 01859675 core:CurrentFinancialInstruments core:WithinOneYear 2022-11-30 01859675 core:ConstructionInProgressAssetsUnderConstruction 2022-11-30 01859675 core:FurnitureFittingsToolsEquipment 2022-11-30 01859675 core:LandBuildings 2022-11-30 01859675 core:MotorVehicles 2022-11-30 01859675 core:OtherPropertyPlantEquipment 2022-11-30 iso4217:GBP xbrli:pure

Registration number: 01859675

Langcourt Limited

Unaudited Financial Statements

for the Year Ended 30 November 2023

 

Langcourt Limited

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 10

 

Langcourt Limited

Company Information

Directors

G Slater

Mrs R M Slater

Company secretary

G Slater

Registered office

Unit G The Link Centre
Oldmixon Crescent
Weston-super-Mare
Somerset
BS24 9AY

Accountants

Four Fifty Partnership
Chartered Accountants
34 Boulevard
Weston-super-Mare
Somerset
BS23 1NF

 

Langcourt Limited

(Registration number: 01859675)
Balance Sheet as at 30 November 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

4

158,881

174,494

Other financial assets

5

404

402

 

159,285

174,896

Current assets

 

Stocks

6

10,217

15,163

Debtors

7

28,345

26,560

Cash at bank and in hand

 

370,925

367,740

 

409,487

409,463

Creditors: Amounts falling due within one year

8

(62,879)

(73,513)

Net current assets

 

346,608

335,950

Total assets less current liabilities

 

505,893

510,846

Provisions for liabilities

(26,030)

(28,767)

Net assets

 

479,863

482,079

Capital and reserves

 

Called up share capital

2

2

Other reserves

327

326

Retained earnings

479,534

481,751

Shareholders' funds

 

479,863

482,079

For the financial year ending 30 November 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.

 

Langcourt Limited

(Registration number: 01859675)
Balance Sheet as at 30 November 2023

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.

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.

Approved and authorised by the Board on 16 April 2024 and signed on its behalf by:
 

.........................................
G Slater
Company secretary and director

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

1

General information

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

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.

The presentation currency of the financial statements is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

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 each of the company's activities.

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

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

Improvements to property

2% on cost

Plant and machinery

15% on reducing balance

Fixtures and fittings

25% on cost and 15% on reducing balance

Motor vehicles

25% on reducing balance

Aeroplanes

5% on reducing balance

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.

Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

2

Accounting policies (continued)

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 12 (2022 - 12).

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

4

Tangible assets

Improvements to property
£

Plant and machinery
£

Fixtures and fittings
£

Motor vehicles
 £

Aeroplanes
£

Total
£

Cost or valuation

At 1 December 2022

56,795

385,230

23,736

48,821

98,636

613,218

Additions

-

4,914

247

-

-

5,161

Disposals

-

(75,723)

-

-

-

(75,723)

At 30 November 2023

56,795

314,421

23,983

48,821

98,636

542,656

Depreciation

At 1 December 2022

14,949

337,915

15,278

39,216

31,366

438,724

Charge for the year

1,136

7,005

1,141

2,402

3,364

15,048

Eliminated on disposal

-

(69,997)

-

-

-

(69,997)

At 30 November 2023

16,085

274,923

16,419

41,618

34,730

383,775

Carrying amount

At 30 November 2023

40,710

39,498

7,564

7,203

63,906

158,881

At 30 November 2022

41,846

47,316

8,458

9,605

67,269

174,494

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

5

Other financial assets (current and non-current)

Financial assets at fair value through profit and loss
£

Total
£

Non-current financial assets

Cost or valuation

At 1 December 2022

402

402

Fair value adjustments

2

2

At 30 November 2023

404

404

Carrying amount

At 30 November 2023

404

404

6

Stocks

2023
£

2022
£

Stock

10,217

15,163

7

Debtors

Current

2023
£

2022
£

Trade debtors

6,784

6,046

Prepayments

19,402

16,173

Other debtors

2,159

4,341

 

28,345

26,560

 

Langcourt Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 November 2023

8

Creditors

Creditors: amounts falling due within one year

2023
£

2022
£

Due within one year

Trade creditors

19,263

32,923

Taxation and social security

25,493

19,643

Accruals and deferred income

13,917

19,385

Other creditors

4,206

1,562

62,879

73,513