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REGISTERED NUMBER: 04073203 (England and Wales)












Unaudited Financial Statements

for the Year Ended 31 December 2023

for

Longview Properties Ltd

Longview Properties Ltd (Registered number: 04073203)






Contents of the Financial Statements
for the Year Ended 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Longview Properties Ltd

Company Information
for the Year Ended 31 December 2023







Director: J S Cockburn





Registered office: Treberfedd Farm
Treberfedd
Lampeter
Ceredigion
SA48 7NW





Registered number: 04073203 (England and Wales)





Accountants: Crowthers Chartered Accountants
1 Ripple Court
Brockeridge Park
Tewkesbury
Gloucestershire
GL20 6FG

Longview Properties Ltd (Registered number: 04073203)

Balance Sheet
31 December 2023

2023 2022
as restated
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 - -
Property, plant and equipment 5 510,392 532,297
Investments 6 - 178
Investment property 7 1,645,000 1,675,000
2,155,392 2,207,475

CURRENT ASSETS
Inventories 4,778 4,409
Debtors 8 3,041 784
Cash at bank and in hand 18,637 59,733
26,456 64,926
CREDITORS
Amounts falling due within one year 9 1,921,665 625,526
NET CURRENT LIABILITIES (1,895,209 ) (560,600 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

260,183

1,646,875

CREDITORS
Amounts falling due after more than one
year

10

26,566

2,361,782
NET ASSETS/(LIABILITIES) 233,617 (714,907 )

CAPITAL AND RESERVES
Called up share capital 12 2 2
Non-distributable reserves 13 242,058 272,058
Retained earnings (8,443 ) (986,967 )
SHAREHOLDERS' FUNDS 233,617 (714,907 )

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 director acknowledges his 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.

Longview Properties Ltd (Registered number: 04073203)

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 director and authorised for issue on 30 April 2024 and were signed by:





J S Cockburn - Director


Longview Properties Ltd (Registered number: 04073203)

Notes to the Financial Statements
for the Year Ended 31 December 2023

1. STATUTORY INFORMATION

Longview Properties Ltd 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.

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


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.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in note 2, the directors are required to make judgements; estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered· to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Development costs are being amortised evenly over their estimated useful life of four years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Land and buildings - Straight line over 25 years
Plant and machinery etc - 25% on reducing balance, 25% on cost and Straight line over 25 years

Tangible fixed assets are stated at cost (or deemed cost) or valuation less accumulated depreciation and accumulated impairment losses. Cost includes costs directly attributable to making the asset capable of operating as intended.

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

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.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


Longview Properties Ltd (Registered number: 04073203)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

2. ACCOUNTING POLICIES - continued
Taxation
Current tax represents the amount of tax payable or receivable in respect of the taxable profit (or loss) for the
current or past reporting periods. It is measured at the amount expected to be paid or recovered using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax represents the future tax consequences of transactions and events recognised in the financial
statements of current and previous periods. It is recognised in respect of all timing differences, with certain
exceptions. Timing differences are differences between taxable profits and total comprehensive income as stated in the financial statements that arise from the inclusion of income and expense in tax assessments in periods different from those in which they are recognised in the financial statements. 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 balance sheet date that are expected to apply to the reversal of timing differences. Deferred tax on revalued non-depreciable tangible fixed assets and investment properties is measured using the rates and allowances that apply to the sale of the asset.

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.

Basis of preparation for negative balance sheet
The financial statements have been prepared on a going concern basis as the directors intend to support the company. The financial statements do not include any adjustment that would result from the withdrawal of the directors support.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 12 (2022 - 10 ) .

4. INTANGIBLE FIXED ASSETS
Other
intangible
assets
£   
Cost
At 1 January 2023
and 31 December 2023 3,200
Amortisation
At 1 January 2023
and 31 December 2023 3,200
Net book value
At 31 December 2023 -
At 31 December 2022 -

Longview Properties Ltd (Registered number: 04073203)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

5. PROPERTY, PLANT AND EQUIPMENT
Plant and
Land and machinery
buildings etc Totals
£    £    £   
Cost
At 1 January 2023 372,864 413,549 786,413
Additions - 14,220 14,220
At 31 December 2023 372,864 427,769 800,633
Depreciation
At 1 January 2023 119,327 134,789 254,116
Charge for year 14,914 21,211 36,125
At 31 December 2023 134,241 156,000 290,241
Net book value
At 31 December 2023 238,623 271,769 510,392
At 31 December 2022 253,537 278,760 532,297

6. FIXED ASSET INVESTMENTS
Shares in
group
undertakings
£   
Cost
At 1 January 2023 178
Disposals (178 )
At 31 December 2023 -
Net book value
At 31 December 2023 -
At 31 December 2022 178

7. INVESTMENT PROPERTY
Total
£   
Fair value
At 1 January 2023 1,675,000
Revaluations (30,000 )
At 31 December 2023 1,645,000
Net book value
At 31 December 2023 1,645,000
At 31 December 2022 1,675,000

On 7 February 2024, the investment property 'Blaentir' was listed on the market. The property is valued at £345,000 as of this date.

Longview Properties Ltd (Registered number: 04073203)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

7. INVESTMENT PROPERTY - continued

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2015 482,034
Valuation in 2016 20,024
Valuation in 2021 (230,000 )
Valuation in 2023 (30,000 )
Cost 1,402,942
1,645,000

If investment property had not been revalued it would have been included at the following historical cost:

2023 2022
as restated
£    £   
Cost 1,402,942 1,402,942

Investment property was valued on an open market basis on 31 December 2023 by the directors .

8. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Trade debtors 3,041 757
Other debtors - 27
3,041 784

9. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
as restated
£    £   
Bank loans and overdrafts 3,665 3,903
Trade creditors 5,589 5,605
Taxation and social security 5,242 2,296
Other creditors 1,907,169 613,722
1,921,665 625,526

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
as restated
£    £   
Bank loans 26,566 929,992
Amounts owed to group undertakings - 1,171,790
Amounts owed to participating interests - 260,000
26,566 2,361,782

Longview Properties Ltd (Registered number: 04073203)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

10. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued
2023 2022
as restated
£    £   
Amounts falling due in more than five years:

Repayable by instalments
Together commercial mortgage - 900,000

11. SECURED DEBTS

The following secured debts are included within creditors:

2023 2022
as restated
£    £   
Commercial mortgage - 900,000

12. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: as restated
£    £   
2 Ordinary 1 2 2

13. RESERVES
Non-distribut
reserves
£   
At 1 January 2023 272,058
Transfer between reserves (30,000 )

At 31 December 2023 242,058

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 31 December 2023 and 31 December 2022:

2023 2022
as restated
£    £   
M J S Cockburn
Balance outstanding at start of year (599,743 ) (113,617 )
Amounts advanced 1,914,578 970,000
Amounts repaid (1,314,835 ) (1,456,126 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - (599,743 )

Longview Properties Ltd (Registered number: 04073203)

Notes to the Financial Statements - continued
for the Year Ended 31 December 2023

14. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES - continued

J S Cockburn
Balance outstanding at start of year - (148 )
Amounts advanced 17,698 148
Amounts repaid (1,915,594 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year (1,897,896 ) -