Caseware UK (AP4) 2023.0.135 2023.0.135 2024-06-302024-06-30true12023-07-01false1falsefalse 05031220 2023-07-01 2024-06-30 05031220 2024-06-30 05031220 2022-05-01 2023-06-30 05031220 2023-06-30 05031220 2022-05-01 05031220 5 2023-07-01 2024-06-30 05031220 5 2022-05-01 2023-06-30 05031220 6 2023-07-01 2024-06-30 05031220 6 2022-05-01 2023-06-30 05031220 d:CompanySecretary1 2023-07-01 2024-06-30 05031220 d:Director1 2023-07-01 2024-06-30 05031220 d:RegisteredOffice 2023-07-01 2024-06-30 05031220 e:FurnitureFittings 2023-07-01 2024-06-30 05031220 e:FurnitureFittings 2024-06-30 05031220 e:FurnitureFittings 2023-06-30 05031220 e:ComputerEquipment 2023-07-01 2024-06-30 05031220 e:ComputerEquipment 2024-06-30 05031220 e:ComputerEquipment 2023-06-30 05031220 e:CurrentFinancialInstruments 2024-06-30 05031220 e:CurrentFinancialInstruments 2023-06-30 05031220 e:CurrentFinancialInstruments e:WithinOneYear 2024-06-30 05031220 e:CurrentFinancialInstruments e:WithinOneYear 2023-06-30 05031220 e:UKTax 2023-07-01 2024-06-30 05031220 e:UKTax 2022-05-01 2023-06-30 05031220 e:ShareCapital 2024-06-30 05031220 e:ShareCapital 2023-06-30 05031220 e:RetainedEarningsAccumulatedLosses 2023-07-01 2024-06-30 05031220 e:RetainedEarningsAccumulatedLosses 2024-06-30 05031220 e:RetainedEarningsAccumulatedLosses 2022-05-01 2023-06-30 05031220 e:RetainedEarningsAccumulatedLosses 2023-06-30 05031220 e:RetainedEarningsAccumulatedLosses 2022-05-01 05031220 d:OrdinaryShareClass1 2023-07-01 2024-06-30 05031220 d:OrdinaryShareClass1 2024-06-30 05031220 d:OrdinaryShareClass1 2023-06-30 05031220 d:FRS102 2023-07-01 2024-06-30 05031220 d:Audited 2023-07-01 2024-06-30 05031220 d:FullAccounts 2023-07-01 2024-06-30 05031220 d:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 05031220 f:PoundSterling 2023-07-01 2024-06-30 xbrli:shares iso4217:GBP xbrli:pure
Registered number: 05031220


LONGLEY ASSET MANAGEMENT LIMITED








AUDITED

DIRECTOR'S REPORT AND FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2024

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
COMPANY INFORMATION


Director
Ms M Longley 




Company secretary
Dr A M Davies



Registered number
05031220



Registered office
1 Vincent Square

London

SW1P 2PN




Independent auditors
Stewart & Co
Accountants & Statutory Auditors

Knoll House

Knoll Road

Camberley

GU15 3SY





 
LONGLEY ASSET MANAGEMENT LIMITED
 

CONTENTS



Page
Director's report
 
1
Director's responsibilities statement
 
2
Independent auditors' report
 
3 - 6
Statement of income and retained earnings
 
7
Balance sheet
 
8 - 9
Statement of cash flows
 
10
Analysis of net debt
 
11
Notes to the financial statements
 
12 - 18


 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
DIRECTOR'S REPORT
FOR THE YEAR ENDED 30 JUNE 2024

The director presents her report and the financial statements for the year ended 30 June 2024.

Principal activity

The principal activity of the Company in the period under review was that of investment management services.

Director

The director who served during the year was:

Ms M Longley 

Disclosure of information to auditors

The director at the time when this Director's report is approved has confirmed that:
 
so far as she is aware, there is no relevant audit information of which the Company's auditors are unaware, and

she has taken all the steps that ought to have been taken as a director in order to be aware of any relevant audit information and to establish that the Company's auditors are aware of that information.

Auditors

The auditorsStewart & Cowill be proposed for reappointment in accordance with section 485 of the Companies Act 2006.

This report was approved by the board and signed on its behalf.
 





................................................
Ms M Longley
Director

Date: 21 October 2024

Page 1

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
DIRECTOR'S RESPONSIBILITIES STATEMENT
FOR THE YEAR ENDED 30 JUNE 2024

The director is responsible for preparing the Director's report and the financial statements in accordance with applicable law and regulations.

Company law requires the director to prepare financial statements for each financial year. Under that law the director has elected to prepare the financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the director must not approve the financial statements unless she is satisfied that they give a true and fair view of the state of affairs of the Company and of the profit or loss of the Company for that period.

 In preparing these financial statements, the director is required to:

select suitable accounting policies for the Company's financial statements and then apply them consistently;

make judgments and accounting estimates that are reasonable and prudent;

state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;

prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.

The director is responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable her to ensure that the financial statements comply with the Companies Act 2006She is also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Page 2

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE DIRECTORS OF LONGLEY ASSET MANAGEMENT LIMITED
 

Opinion


We have audited the financial statements of Longley Asset Management Limited (the 'Company') for the year ended 30 June 2024, which comprise the Statement of income and retained earnings, the Balance sheet, the Statement of cash flows and the related notes, including a summary of significant accounting policiesThe financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).


In our opinion the financial statements:


give a true and fair view of the state of the Company's affairs as at 30 June 2024 and of its profit for the year then ended;
have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
have been prepared in accordance with the requirements of the Companies Act 2006.


Basis for opinion


We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.


Conclusions relating to going concern


In auditing the financial statements, we have concluded that the director's use of the going concern basis of accounting in the preparation of the financial statements is appropriate.


Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.


Our responsibilities and the responsibilities of the director with respect to going concern are described in the relevant sections of this report.


Page 3

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE DIRECTORS OF LONGLEY ASSET MANAGEMENT LIMITED (CONTINUED)


Other information


The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' report thereon. The director is responsible for the other information contained within the Annual ReportOur opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.


We have nothing to report in this regard.


Opinion on other matters prescribed by the Companies Act 2006
 

In our opinion, based on the work undertaken in the course of the audit:


the information given in the Director's report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
the Director's report has been prepared in accordance with applicable legal requirements.


Matters on which we are required to report by exception
 

In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Director's report.


We have nothing to report in respect of the following matters in relation to which the Companies Act 2006 requires us to report to you if, in our opinion:


adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
the financial statements are not in agreement with the accounting records and returns; or
certain disclosures of director's remuneration specified by law are not made; or
we have not received all the information and explanations we require for our audit.


Responsibilities of directors
 

As explained more fully in the Director's responsibilities statement set out on page 2, the director is responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the director determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.


In preparing the financial statements, the director is responsible for assessing the Company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the director either intends to liquidate the Company or to cease operations, or have no realistic alternative but to do so.


Page 4

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE DIRECTORS OF LONGLEY ASSET MANAGEMENT LIMITED (CONTINUED)


Auditors' responsibilities for the audit of the financial statements
 

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.


Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions were held with, and enquiries made of, management and those charged with governance with a view to identifying those laws and regulations that could be expected to have a material impact on  the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in  the entity. The following laws and regulations were identified as being of significance to the entity:
- Those laws and regulations considered to have a direct effect on the financial statements include  UK
financial reporting standards, Company Law, Tax and Pensions legislation.
- Those laws and regulations for which non-compliance may be fundamental to the operating aspects of  the
company and therefore may have a material effect on the financial statements include compliance with  FCA
regulations.
Audit procedures undertaken in response to the potential risks relating to irregularities (which include  fraud and non-compliance with laws and regulations) comprised of: inquiries of management and  those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud, undertaking specific testing in respect of the company's FCA registration.
No instances of material non-compliance were identified. However, the likelihood of  detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the  effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures  performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that  result from error. As explained above, there is an unavoidable risk that material misstatements may not be  detected, even though the audit has been planned and performed in accordance with ISAs (UK).


A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' report.


Page 5

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
INDEPENDENT AUDITORS' REPORT TO THE DIRECTORS OF LONGLEY ASSET MANAGEMENT LIMITED (CONTINUED)


Use of our report
 

This report is made solely to the Company's member in accordance with Chapter 3 of Part 16 of the Companies Act 2006Our audit work has been undertaken so that we might state to the Company's member those matters we are required to state to them in an Auditors' report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's member for our audit work, for this report, or for the opinions we have formed.





Charlotte Ryan BSc ACA (Senior statutory auditor)
for and on behalf of
Stewart & Co
Accountants
Statutory Auditors
Knoll House
Knoll Road
Camberley
GU15 3SY

21 October 2024
Page 6

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
STATEMENT OF INCOME AND RETAINED EARNINGS
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
Note
£
£

  

Turnover
 3 
97,468
108,738

Cost of sales
  
(10,823)
(11,740)

Gross profit
  
86,645
96,998

Administrative expenses
  
(30,495)
(37,887)

Operating profit
 4 
56,150
59,111

Interest receivable and similar income
  
20,965
6,327

Profit before tax
  
77,115
65,438

Tax on profit
 8 
(15,715)
(12,698)

Profit after tax
  
61,400
52,740

  

  

Retained earnings at the beginning of the year
  
345,652
332,912

  
345,652
332,912

Profit for the year
  
61,400
52,740

Dividends declared and paid
  
(40,000)
(40,000)

Retained earnings at the end of the year
  
367,052
345,652
There were no recognised gains and losses for 2024 or 2023 other than those included in the statement of income and retained earnings.

The notes on pages 12 to 18 form part of these financial statements.

Page 7

 
LONGLEY ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 05031220

BALANCE SHEET
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 9 
3,560
-

  
3,560
-

Current assets
  

Debtors: amounts falling due within one year
 10 
23,634
19,945

Cash at bank and in hand
 11 
498,501
497,337

  
522,135
517,282

Creditors: amounts falling due within one year
 12 
(33,643)
(46,630)

Net current assets
  
 
 
488,492
 
 
470,652

Total assets less current liabilities
  
492,052
470,652

  

Net assets
  
492,052
470,652


Capital and reserves
  

Called up share capital 
 13 
125,000
125,000

Profit and loss account
  
367,052
345,652

  
492,052
470,652


Page 8

 
LONGLEY ASSET MANAGEMENT LIMITED
REGISTERED NUMBER: 05031220
    
BALANCE SHEET (CONTINUED)
AS AT 30 JUNE 2024

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
Ms M Longley
Director

Date: 21 October 2024

The notes on pages 12 to 18 form part of these financial statements.

Page 9

 
LONGLEY ASSET MANAGEMENT LIMITED
 

STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 JUNE 2024

2024
2023
£
£

Cash flows from operating activities

Profit for the financial year
61,400
52,740

Adjustments for:

Interest received
(20,965)
(6,327)

Taxation charge
15,715
12,698

(Increase) in debtors
(3,687)
(6,297)

(Decrease)/increase in creditors
(16,133)
22,624

Corporation tax (paid)
(12,571)
(12,935)

Net cash generated from operating activities

23,759
62,503


Cash flows from investing activities

Purchase of tangible fixed assets
(3,560)
-

Interest received
20,965
6,327

Net cash from investing activities

17,405
6,327

Cash flows from financing activities

Dividends paid
(40,000)
(40,000)

Net cash used in financing activities
(40,000)
(40,000)

Net increase in cash and cash equivalents
1,164
28,830

Cash and cash equivalents at beginning of year
497,337
468,507

Cash and cash equivalents at the end of year
498,501
497,337


Cash and cash equivalents at the end of year comprise:

Cash at bank and in hand
498,501
497,337

498,501
497,337


The notes on pages 12 to 18 form part of these financial statements.

Page 10

 
LONGLEY ASSET MANAGEMENT LIMITED
 

ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 JUNE 2024




At 1 July 2023
Cash flows
At 30 June 2024
£

£

£

Cash at bank and in hand

497,337

1,164

498,501

Debt due within 1 year

(25,003)

25,003

-


472,334
26,167
498,501

The notes on pages 12 to 18 form part of these financial statements.

Page 11

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

Longley Asset Management Limited is limited by share capital and incorporated in England and Wales. The company registration number is 05031220 and the address of the registered office is 1 Vincent Square, London, SW1P 2PN.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Page 12

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Fixtures & fittings
-
25%
Straight line
Computer equipment
-
25%
Straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 13

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

In the Statement of cash flows, cash and cash equivalents are shown net of bank overdrafts that are repayable on demand and form an integral part of the Company's cash management.


3.


Turnover

The whole of the turnover is attributable to investment management services.

All turnover arose within the United Kingdom.


4.


Operating profit

The operating profit is stated after charging:

2024
2023
£
£

Exchange differences
1,079
(536)


5.


Auditors' remuneration

During the year, the Company obtained the following services from the Company's auditors and their associates:


2024
2023
£
£

Fees payable to the Company's auditors and their associates for the audit of the Company's financial statements
3,500
3,000

Fees payable to the Company's auditors and their associates in respect of:

All non-audit services not included above
-
4,100
Page 14

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Employees

Staff costs, including director's remuneration, were as follows:


2024
2023
£
£

Wages and salaries
12,570
9,100

Social security costs
479
-

Cost of defined contribution scheme
-
3,000

13,049
12,100


The average monthly number of employees, including the director, during the year was as follows:


        2024
        2023
            No.
            No.







Director
1
1


7.


Director's remuneration

2024
2023
£
£

Director's emoluments
12,570
9,100

Company contributions to defined contribution pension schemes
-
3,000

12,570
12,100


During the year retirement benefits were accruing to no directors (2023 - NIL) in respect of defined contribution pension schemes.

Page 15

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

8.


Taxation


2024
2023
£
£

Corporation tax


Current tax on profits for the year
15,842
12,698

Adjustments in respect of previous periods
(127)
-


15,715
12,698


Total current tax
15,715
12,698

Factors affecting tax charge for the year/period

The tax assessed for the year/period is lower than (2023 - lower than) the standard rate of corporation tax in the UK of 25% (2023 - 19%). The differences are explained below:

2024
2023
£
£


Profit on ordinary activities before tax
77,115
65,438


Profit on ordinary activities multiplied by standard rate of corporation tax in the UK of 25% (2023 - 19%)
19,279
12,590

Effects of:


Expenses not deductible for tax purposes, other than goodwill amortisation and impairment
94
108

Capital allowances for year/period in excess of depreciation
(890)
-

Adjustments to tax charge in respect of prior periods
(127)
-

Marginal relief
(2,641)
-

Total tax charge for the year/period
15,715
12,698


Factors that may affect future tax charges

There were no factors that may affect future tax charges.

Page 16

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Tangible fixed assets





Fixtures & fittings
Computer equipment
Total

£
£
£



Cost or valuation


At 1 July 2023
12,296
15,300
27,596


Additions
-
3,560
3,560



At 30 June 2024

12,296
18,860
31,156



Depreciation


At 1 July 2023
12,296
15,300
27,596



At 30 June 2024

12,296
15,300
27,596



Net book value



At 30 June 2024
-
3,560
3,560



At 30 June 2023
-
-
-


10.


Debtors

2024
2023
£
£


Trade debtors
4,283
-

Other debtors
207
-

Prepayments and accrued income
19,144
19,945

23,634
19,945


Included within other debtors due within one year is a loan to Ms M Longley, a Director, amounting to £207 (2023 - £25,003 credit). The loan is interest free and is repayable within 9 months of the year end. 



Page 17

 
LONGLEY ASSET MANAGEMENT LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

11.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
498,501
497,337

498,501
497,337



12.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
5,142
869

Corporation tax
15,842
12,698

Other taxation and social security
7,545
305

Other creditors
196
25,136

Accruals and deferred income
4,918
7,622

33,643
46,630



13.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



125,000 (2023 - 125,000) Ordinary shares of £1.00 each
125,000
125,000


 
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