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REGISTERED NUMBER: 12399788 (England and Wales)











UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LONG COPSE DEVELOPMENTS LTD

LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Balance sheet 1

Notes to the financial statements 3


LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 5,313 8,216
Investment property 5 1,260,000 1,260,000
1,265,313 1,268,216

Current assets
Debtors 6 74,296 68,498
Cash at bank and in hand 3,258 46,594
77,554 115,092
Creditors
Amounts falling due within one year 7 381,215 423,005
Net current liabilities (303,661 ) (307,913 )
Total assets less current liabilities 961,652 960,303

Creditors
Amounts falling due after more than one year 8 (762,006 ) (771,006 )

Provisions for liabilities 10 (54,569 ) (35,563 )
Net assets 145,077 153,734

Capital and reserves
Called up share capital 11 1 1
Fair value reserve 12 166,945 185,951
Retained earnings (21,869 ) (32,218 )
Shareholders' funds 145,077 153,734

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 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.

LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

BALANCE SHEET - continued
31 JANUARY 2024


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 comprehensive income has not been delivered.

The financial statements were approved by the director and authorised for issue on 16 October 2024 and were signed by:





Mr H P C Sykes - Director


LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. Statutory information

Long Copse Developments Limited is a private company, limited by shares, registered in England and Wales. The company's registered number is 12399788. The registered office and business address is Moon & Sixpence, Midgham, Fordingbridge, Hampshire, SP6 3BY.

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.

Turnover
Turnover represents income generated from property development and letting, net of VAT.

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 - 33% on cost and 25% on reducing balance

Government grants
Using the accrual basis government grants relating to revenue are recognised in income on a systematic basis over the periods in which the entity recognises the related costs for which the grant is intended to compensate.

Grants which become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support to the entity with no future related costs shall be recognised in income in the period in which it becomes receivable.

Investment property
During construction the property was valued at cost. Following completion investment property is revalued to its fair value, with revaluations taking place with sufficient regularity going forward to ensure a true and fair view, and with changes in fair value recognised in other comprehensive income.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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 balance sheet date.

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


2. Accounting policies - continued

Financial instruments
Basic financial instruments are initially recognised at transaction price and accounted for according to the substance of the contractual arrangement, as either financial assets, liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company, after deducting all liabilities.

At each balance sheet date, financial instruments are measured at amortised cost using the effective interest method. Any losses arising from impairment are recognised in the profit and loss account in the period to which they relate.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

4. Tangible fixed assets
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
Cost
At 1 February 2023 8,645 7,312 15,957
Additions 9,388 - 9,388
Disposals (10,861 ) - (10,861 )
At 31 January 2024 7,172 7,312 14,484
Depreciation
At 1 February 2023 4,554 3,187 7,741
Charge for year 1,001 1,814 2,815
Eliminated on disposal (1,385 ) - (1,385 )
At 31 January 2024 4,170 5,001 9,171
Net book value
At 31 January 2024 3,002 2,311 5,313
At 31 January 2023 4,091 4,125 8,216

5. Investment property
Total
£   
Fair value
At 1 February 2023
and 31 January 2024 1,260,000
Net book value
At 31 January 2024 1,260,000
At 31 January 2023 1,260,000

Investment property was valued on an open market basis on 31 January 2024 by the director.

LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


5. Investment property - continued

Fair value at 31 January 2024 is represented by:
£   
Valuation in 2023 221,514
Cost 1,038,486
1,260,000

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 8,081 7,782
Other debtors 41,894 16,117
Prepayments and accrued income 24,321 44,599
74,296 68,498

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 9,000 9,000
Trade creditors 8,364 14,011
VAT 19,291 15,804
Other creditors 222,561 185,676
Directors' current accounts 108,592 195,839
Accruals and deferred income 13,407 2,675
381,215 423,005

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans - 1-2 years 9,000 9,000
Bank loans - 2-5 years 3,000 12,000
Other loans more 5yrs non-inst 750,006 750,006
762,006 771,006

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Other loans more 5yrs non-inst 750,006 750,006

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Other loans 750,006 750,006

All amounts owing to Together Commercial Finance Limited are secured against the Investment Property and other assets of the company, by way of legal charges dated 24 June 2022.

LONG COPSE DEVELOPMENTS LTD (REGISTERED NUMBER: 12399788)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


10. Provisions for liabilities
2024 2023
£    £   
Deferred tax 54,569 35,563

Deferred
tax
£   
Balance at 1 February 2023 35,563
Charge to Income statement during year 19,006
Balance at 31 January 2024 54,569

11. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

12. Reserves
Fair
value
reserve
£   
At 1 February 2023 185,951
Revaluations (19,006 )

At 31 January 2024 166,945

13. Ultimate controlling party

The Director, Mr H Sykes, is deemed to control the Company by virtue of his 100% holding of the share capital of the Company.