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REGISTERED NUMBER: 03640500 (England and Wales)














Unaudited Financial Statements

for the Year Ended 31 July 2023

for

Longfield Commercials Limited

Longfield Commercials Limited (Registered number: 03640500)

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










Page

Company information 1

Chartered accountants' report 2

Statement of financial position 3 to 4

Notes to the financial statements 5 to 7


Longfield Commercials Limited

Company Information
for the Year Ended 31 July 2023







Directors: Ms S E A Sargent
C J Lane





Secretary: Ms S E A Sargent





Registered office: Longfield Nursery
Broadgate
Weston Hills
Spalding
Lincolnshire
PE12 6DP





Registered number: 03640500 (England and Wales)





Accountants: Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB

Chartered Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Longfield Commercials Limited


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Statement of financial position. Readers are cautioned that the Income statement and certain other primary statements and the Report of the directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Longfield Commercials Limited for the year ended 31 July 2023 which comprise the Statement of income and retained earnings, Statement of financial position and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed within the ICAEW's regulations and guidance at http://www.icaew.com/en/membership/regulations-standards-and-guidance.

This report is made solely to the Board of Directors of Longfield Commercials Limited, as a body, in accordance with the terms of our engagement letter dated 3 July 2019. Our work has been undertaken solely to prepare for your approval the financial statements of Longfield Commercials Limited and state those matters that we have agreed to state to the Board of Directors of Longfield Commercials Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longfield Commercials Limited and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Longfield Commercials Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Longfield Commercials Limited. You consider that Longfield Commercials Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Longfield Commercials Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Moore Thompson
Bank House
Broad Street
Spalding
Lincolnshire
PE11 1TB


7 October 2024

Longfield Commercials Limited (Registered number: 03640500)

Statement of Financial Position
31 July 2023

2023 2022
Notes £    £    £    £   
Fixed assets
Tangible assets 5 73,752 88,820

Current assets
Debtors 6 176,785 179,392
Cash at bank 6,523 20,108
183,308 199,500
Creditors
Amounts falling due within one year 7 175,881 170,092
Net current assets 7,427 29,408
Total assets less current liabilities 81,179 118,228

Creditors
Amounts falling due after more than one
year

8

(43,229

)

(58,627

)

Provisions for liabilities (14,013 ) (16,876 )
Net assets 23,937 42,725

Capital and reserves
Called up share capital 10 1,000 1,000
Retained earnings 22,937 41,725
Shareholders' funds 23,937 42,725

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Longfield Commercials Limited (Registered number: 03640500)

Statement of Financial Position - continued
31 July 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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 7 October 2024 and were signed on its behalf by:





Ms S E A Sargent - Director


Longfield Commercials Limited (Registered number: 03640500)

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


1. Statutory information

Longfield Commercials Limited 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. Statement of compliance

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.

3. Accounting policies

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 10% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 10% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

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.

Longfield Commercials Limited (Registered number: 03640500)

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


4. Employees and directors

The average number of employees during the year was 3 (2022 - 3 ) .

5. Tangible fixed assets
Fixtures
Plant and and Motor Computer
machinery fittings vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 August 2022 5,377 9,456 105,376 15,045 135,254
Additions - - 7,000 - 7,000
Disposals - (4,823 ) - - (4,823 )
At 31 July 2023 5,377 4,633 112,376 15,045 137,431
Depreciation
At 1 August 2022 3,292 5,811 34,061 3,270 46,434
Charge for year 521 317 19,579 1,177 21,594
Eliminated on disposal - (4,349 ) - - (4,349 )
At 31 July 2023 3,813 1,779 53,640 4,447 63,679
Net book value
At 31 July 2023 1,564 2,854 58,736 10,598 73,752
At 31 July 2022 2,085 3,645 71,315 11,775 88,820

6. Debtors: amounts falling due within one year
2023 2022
£    £   
Trade debtors 17,690 42,194
Amount due from related
company 103,332 82,785
Other debtors 1,049 680
Directors' loan accounts 14,463 30,906
Prepayments and accrued income 40,251 22,827
176,785 179,392

7. Creditors: amounts falling due within one year
2023 2022
£    £   
Bank loans and overdrafts 10,000 10,000
Hire purchase contracts 5,398 5,155
Trade creditors 25,606 60,148
Corporation tax 83,342 58,072
Social security and other taxes 1,129 3,976
VAT 43,703 24,036
Other creditors 1,703 3,705
Accruals and deferred income 5,000 5,000
175,881 170,092

Longfield Commercials Limited (Registered number: 03640500)

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


8. Creditors: amounts falling due after more than one year
2023 2022
£    £   
Bank loans - 1-2 years 10,000 10,000
Bank loans - 2-5 years 10,000 20,000
Hire purchase contracts 23,229 28,627
43,229 58,627

9. Secured debts

The following secured debts are included within creditors:

2023 2022
£    £   
Bank loans 30,000 40,000
Hire purchase contracts 28,627 33,782
58,627 73,782

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
1,000 Ordinary shares £1 1,000 1,000

11. Directors' advances, credits and guarantees

At 31 July 2023 the directors owed the company £14,463 (2022 - £30,906) in respect of their director's loan account. Interest of £1,134, has been charged at a rate of between 2% and 2.25% (2022 - £1,606).