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REGISTERED NUMBER: 03733437 (England and Wales)















LONGMORE PROPERTIES LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024






LONGMORE PROPERTIES LIMITED (REGISTERED NUMBER: 03733437)






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




Page

Company Information 1

Statement of Financial Position 2 to 3

Notes to the Financial Statements 4 to 6


LONGMORE PROPERTIES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTOR: G D Bennett





REGISTERED OFFICE: 3 Castlegate
Grantham
Lincolnshire
NG31 6SF





REGISTERED NUMBER: 03733437 (England and Wales)





ACCOUNTANTS: Duncan & Toplis Limited
3 Castlegate
Grantham
Lincolnshire
NG31 6SF

LONGMORE PROPERTIES LIMITED (REGISTERED NUMBER: 03733437)

STATEMENT OF FINANCIAL POSITION
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 1 5,001
Investment property 5 602,750 602,750
602,751 607,751

CURRENT ASSETS
Debtors 6 76,316 441
Cash at bank 29,771 110,338
106,087 110,779
CREDITORS
Amounts falling due within one year 7 8,494 5,158
NET CURRENT ASSETS 97,593 105,621
TOTAL ASSETS LESS CURRENT LIABILITIES 700,344 713,372

CREDITORS
Amounts falling due after more than one year 8 (358,050 ) (358,050 )

PROVISIONS FOR LIABILITIES (46,625 ) (46,625 )
NET ASSETS 295,669 308,697

CAPITAL AND RESERVES
Called up share capital 10 100 100
Fair value reserve 11 298,949 298,949
Retained earnings 11 (3,380 ) 9,648
SHAREHOLDERS' FUNDS 295,669 308,697

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

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

LONGMORE PROPERTIES LIMITED (REGISTERED NUMBER: 03733437)

STATEMENT OF FINANCIAL POSITION - continued
31 MARCH 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 Income Statement has not been delivered.

The financial statements were approved and authorised for issue by the director and authorised for issue on 8 November 2024 and were signed by:





G D Bennett - Director


LONGMORE PROPERTIES LIMITED (REGISTERED NUMBER: 03733437)

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

1. STATUTORY INFORMATION

Longmore Properties 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. 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.

Investment property
Investment properties are measured at fair value at each reporting date with changes in fair value recognised in the income statement and the fair value reserve. No depreciation is provided in respect of investment properties.

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 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.

Fixed asset investments
Fixed asset investments are shown at the lower of cost and fair value at each reporting date with changes in fair value recognised in the income statement and the revaluation reserve.

3. EMPLOYEES AND DIRECTORS

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

4. FIXED ASSET INVESTMENTS

2024 2023
£    £   
Other investments not loans 1 1
Other loans - 5,000
1 5,001

LONGMORE PROPERTIES LIMITED (REGISTERED NUMBER: 03733437)

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

4. FIXED ASSET INVESTMENTS - continued

Additional information is as follows:
Other
investments
£   
COST OR VALUATION
At 1 April 2023
and 31 March 2024 1
NET BOOK VALUE
At 31 March 2024 1
At 31 March 2023 1

Cost or valuation at 31 March 2024 is represented by:

Other
investments
£   
Cost 1
Other
loans
£   
At 1 April 2023 5,000
Other movement (5,000 )
At 31 March 2024 -

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 602,750
NET BOOK VALUE
At 31 March 2024 602,750
At 31 March 2023 602,750

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2024 345,574
Cost 257,176
602,750

The investment property was valued by a director having considered the fair value of recent, comparable property sales in the local area.

LONGMORE PROPERTIES LIMITED (REGISTERED NUMBER: 03733437)

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

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amount due from related party 75,818 -
Prepayments and accrued income 498 441
76,316 441

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation 3,981 555
Directors' current accounts 500 600
Accrued expenses 4,013 4,003
8,494 5,158

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loan - more than 5 years 358,050 358,050

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loan - more than 5 years 358,050 358,050

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loan 358,050 358,050

The bank loan is secured by a mortgage deed on the investment property and a floating charge over the assets of the company.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100

11. RESERVES

The aggregate surplus on re-measurement of investment properties, net of associated deferred tax, is transferred to a separate non-distributable fair value reserve in order to assist with the identification of profits available for distribution.

12. RELATED PARTY DISCLOSURES

During the year the Company made a loan Mistlemore Properties Limited, of which Mr G D Bennett is a director and shareholder, to finance the repayment of a company bank loan. Interest is being paid at 1% above bank base rate.