2023-04-012024-03-312024-03-31false02865224LONGMAYNE 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LONGMAYNE LIMITED

Registered Number
02865224
(England and Wales)

Unaudited Financial Statements for the Year ended
31 March 2024

LONGMAYNE LIMITED
Company Information
for the year from 1 April 2023 to 31 March 2024

Directors

DURU, Spencer Tayyar
SMITH, Suzanne Nefika

Company Secretary

SMITH, Suzanne Nefika

Registered Address

101 Commercial Road
London
E1 1RD

Registered Number

02865224 (England and Wales)
LONGMAYNE LIMITED
Balance Sheet as at
31 March 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Tangible assets36,615,7356,617,167
6,615,7356,617,167
Current assets
Debtors4167,892138,938
Cash at bank and on hand240,694608,038
408,586746,976
Creditors amounts falling due within one year5(1,247,242)(1,244,982)
Net current assets (liabilities)(838,656)(498,006)
Total assets less current liabilities5,777,0796,119,161
Net assets5,777,0796,119,161
Capital and reserves
Called up share capital1,0001,000
Profit and loss account5,776,0796,118,161
Shareholders' funds5,777,0796,119,161
The financial statements were approved and authorised for issue by the Board of Directors on 9 October 2024, and are signed on its behalf by:
DURU, Spencer Tayyar
Director
SMITH, Suzanne Nefika
Director

Registered Company No. 02865224
LONGMAYNE LIMITED
Notes to the Financial Statements
for the year ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Turnover policy
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services.
Employee benefits
Contributions to defined contribution plans are expensed in the period to which they relate.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax
Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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 reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Reducing balance (%)
Fixtures and fittings25
Office Equipment25
Finance leases and hire purchase contracts
Assets held under finance leases which are leases where substantially all the risks and rewards of ownership of the asset have passed to the company, and hire purchase contracts are capitalised in the balance sheet. They are depreciated over the shorter of their useful lives or the term of the lease.
2.Average number of employees

20242023
Average number of employees during the year56
3.Tangible fixed assets

Plant & machinery

Fixtures & fittings

Office Equipment

Total

££££
Cost or valuation
At 01 April 236,610,54028,670-6,639,210
Additions--225225
At 31 March 246,610,54028,6702256,639,435
Depreciation and impairment
At 01 April 23-22,043-22,043
Charge for year-1,657-1,657
At 31 March 24-23,700-23,700
Net book value
At 31 March 246,610,5404,9702256,615,735
At 31 March 236,610,5406,627-6,617,167
4.Debtors: amounts due within one year

2024

2023

££
Trade debtors / trade receivables101,972100,720
Other debtors50,92038,218
Total152,892138,938
5.Creditors: amounts due within one year

2024

2023

££
Taxation and social security392392
Other creditors1,246,8501,244,590
Total1,247,2421,244,982
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.