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Company No: 03889347 (England and Wales)

LONGWORTH INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS
FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
PAGES FOR FILING WITH THE REGISTRAR

LONGWORTH INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023

Contents

LONGWORTH INVESTMENTS LIMITED

COMPANY INFORMATION

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
LONGWORTH INVESTMENTS LIMITED

COMPANY INFORMATION (continued)

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
DIRECTORS D J Longworth
K Longworth
REGISTERED OFFICE 8 Somerdale Avenue
Heaton
Bolton
BL1 5HS
United Kingdom
COMPANY NUMBER 03889347 (England and Wales)
CHARTERED ACCOUNTANTS PM+M Solutions for Business LLP
First Floor
Sandringham House
Hollins Brook Park
Pilsworth Road
Bury
BL9 8RN
SOLICITORS Kippax Beaumont Lewis
New Mansion House
63-65 Chorley New Road
Bolton
BL1 4QR
LONGWORTH INVESTMENTS LIMITED

BALANCE SHEET

AS AT 30 NOVEMBER 2023
LONGWORTH INVESTMENTS LIMITED

BALANCE SHEET (continued)

AS AT 30 NOVEMBER 2023
Note 2023 2022
£ £
Fixed assets
Tangible assets 3 628,502 628,586
628,502 628,586
Current assets
Debtors 4 5,138 4,106
Cash at bank and in hand 10,153 21,781
15,291 25,887
Creditors: amounts falling due within one year 5 ( 115,824) ( 113,616)
Net current liabilities (100,533) (87,729)
Total assets less current liabilities 527,969 540,857
Creditors: amounts falling due after more than one year 6 ( 735,226) ( 760,226)
Provision for liabilities ( 160) ( 160)
Net liabilities ( 207,417) ( 219,529)
Capital and reserves
Called-up share capital 7 100 100
Profit and loss account ( 207,517 ) ( 219,629 )
Total shareholders' deficit ( 207,417) ( 219,529)

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 financial statements of Longworth Investments Limited (registered number: 03889347) were approved and authorised for issue by the Board of Directors on 27 August 2024. They were signed on its behalf by:

K Longworth
Director
LONGWORTH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
LONGWORTH INVESTMENTS LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE FINANCIAL YEAR ENDED 30 NOVEMBER 2023
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Longworth Investments Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 8 Somerdale Avenue, Heaton, Bolton, BL1 5HS, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Balance Sheet and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the Company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Land and buildings not depreciated
Plant and machinery 10 % reducing balance
Computer equipment 10 % reducing balance

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Balance Sheet date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

2. Employees

2023 2022
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Tangible assets

Land and buildings Plant and machinery Computer equipment Total
£ £ £ £
Cost
At 01 December 2022 627,744 6,000 566 634,310
At 30 November 2023 627,744 6,000 566 634,310
Accumulated depreciation
At 01 December 2022 0 5,646 78 5,724
Charge for the financial year 0 35 49 84
At 30 November 2023 0 5,681 127 5,808
Net book value
At 30 November 2023 627,744 319 439 628,502
At 30 November 2022 627,744 354 488 628,586

4. Debtors

2023 2022
£ £
Trade debtors 1,083 1,040
Other debtors 4,055 3,066
5,138 4,106

5. Creditors: amounts falling due within one year

2023 2022
£ £
Trade creditors 2,912 0
Taxation and social security 9,084 9,154
Other creditors 103,828 104,462
115,824 113,616

6. Creditors: amounts falling due after more than one year

2023 2022
£ £
Amounts owed to connected companies 735,226 760,226

7. Called-up share capital

2023 2022
£ £
Allotted, called-up and fully-paid
100 Ordinary shares of £ 1.00 each 100 100

8. Related party transactions

Included in other creditors are amounts due to D Longworth of £93,637 (2022: £93,498.) Interest is paid on this loan at 7.5% and is repayable on demand.