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REGISTERED NUMBER: 05684399 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LONGFORD INVESTMENT LIMITED

LONGFORD INVESTMENT LIMITED (REGISTERED NUMBER: 05684399)

CONTENTS OF THE FINANCIAL STATEMENTS
for the year ended 31 March 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


LONGFORD INVESTMENT LIMITED

COMPANY INFORMATION
for the year ended 31 March 2024







DIRECTOR: J Gwillim-David





SECRETARY: M R Wheat





REGISTERED OFFICE: Merlin House
Charnham Lane
Hungerford
Berkshire
RG17 0EY





REGISTERED NUMBER: 05684399 (England and Wales)





ACCOUNTANTS: Thorne Lancaster Parker
5th Floor
Palladium House
1-4 Argyll Street
London
W1F 7TA

LONGFORD INVESTMENT LIMITED (REGISTERED NUMBER: 05684399)

STATEMENT OF FINANCIAL POSITION
31 March 2024

2024 2023
Notes £    £   
FIXED ASSETS
Property, plant and equipment 4 64,361 36,457

CURRENT ASSETS
Inventories 47,600 47,600
Debtors 5 49,684 58,467
Cash at bank 9,294 16,250
106,578 122,317
CREDITORS
Amounts falling due within one year 6 (38,008 ) (32,954 )
NET CURRENT ASSETS 68,570 89,363
TOTAL ASSETS LESS CURRENT
LIABILITIES

132,931

125,820

CAPITAL AND RESERVES
Called up share capital 2,225 2,225
Retained earnings 130,706 123,595
SHAREHOLDERS' FUNDS 132,931 125,820

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 her 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.

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 by the director and authorised for issue on 4 September 2024 and were signed by:





J Gwillim-David - Director


LONGFORD INVESTMENT LIMITED (REGISTERED NUMBER: 05684399)

NOTES TO THE FINANCIAL STATEMENTS
for the year ended 31 March 2024


1. STATUTORY INFORMATION

Longford Investment 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.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements of Longford Investment Limited prepared in accordance with Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (FRS 102).

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

Turnover
Turnover represents the total amount receivable, net of value added tax, for goods & services provided in the ordinary course of business.

Tangible fixed assets
Property, plant and equipment are initially measured at cost (or deemed cost) and are subsequently measured at cost or valuation, net of depreciation and accumulated impairment losses. Cost includes the original purchase price, costs directly attributable to bringing the asset to its working condition for its intended use, dismantling and restoration initially recorded at cost.

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings 25% on cost
Motor vehicles 15% on cost
Plant & machinery 15% on cost

The carrying values of tangible fixed assets are reviewed for impairment when events or changes in circumstances indicate the carrying value may not be recoverable.

Stocks
Inventories are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

When stocks are sold, the carrying amount is recognised as an expense in the period in which the related revenue is recognised.

The amount of any write down of stocks to net realisable value and all losses of stocks are recognised as an expense in the period in which the write down or loss occurs.

LONGFORD INVESTMENT LIMITED (REGISTERED NUMBER: 05684399)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued

Financial instruments
The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, loans to fellow group companies, loans to related companies and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to seel the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received pr receivable, net of direct costs of issuing the equity instruments.

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 that have been enacted or substantively enacted by the balance sheet date.


LONGFORD INVESTMENT LIMITED (REGISTERED NUMBER: 05684399)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 6 (2023 - 7 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Plant and
machinery
etc
£   
COST
At 1 April 2023 103,154
Additions 54,099
Disposals (34,491 )
At 31 March 2024 122,762
DEPRECIATION
At 1 April 2023 66,697
Charge for year 15,375
Eliminated on disposal (23,671 )
At 31 March 2024 58,401
NET BOOK VALUE
At 31 March 2024 64,361
At 31 March 2023 36,457


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 38,691 46,821
Other debtors 40 191
Prepayments and accrued income 10,953 11,455
49,684 58,467

LONGFORD INVESTMENT LIMITED (REGISTERED NUMBER: 05684399)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the year ended 31 March 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 3,956 2
Social security and other taxes 31,219 30,326
Other creditors 148 3
Accruals and deferred income 2,685 2,623
38,008 32,954

7. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

During the year the director charged office rent to the company of £4,704 (2023: £4,704).

8. RELATED PARTY DISCLOSURES

During the year the company recharged expenses of £327,091 (2023: £306,067) to Longford Investment (No1) Ltd. The balance due from Longford Investment (No1) Ltd at the year end was £30,406 (2023: £37,557).

During the year the company recharged expenses of £81,510 (2023: £77,824) to Longford Investment (No2) Ltd .The balance due from Longford Investment (No2) Ltd at the year end was £7,597 (2023: £9,263).

9. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is J Gwillim-David.