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REGISTERED NUMBER: 03640320 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Longcross Properties Limited

Longcross Properties Limited (Registered number: 03640320)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


Longcross Properties Limited

Company Information
for the Year Ended 31 March 2024







DIRECTORS: Mr C C H Wood
Mr J Wood





SECRETARY: Mr C C H Wood





REGISTERED OFFICE: 328 Chatsworth Avenue
Cosham
Portsmouth
Hampshire
PO6 2UP





REGISTERED NUMBER: 03640320 (England and Wales)





ACCOUNTANTS: Andrew Spencer Associates Limited
Chartered Certified Accountants
328 Chatsworth Avenue
Cosham
Portsmouth
Hampshire
PO6 2UP

Longcross Properties Limited (Registered number: 03640320)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £   
FIXED ASSETS
Tangible assets 4 7,823 9,204

CURRENT ASSETS
Debtors 5 31,937 15,611
Cash at bank and in hand 6,337 41,248
38,274 56,859
CREDITORS
Amounts falling due within one year 6 (49,963 ) (52,017 )
NET CURRENT (LIABILITIES)/ASSETS (11,689 ) 4,842
TOTAL ASSETS LESS CURRENT
LIABILITIES

(3,866

)

14,046

CREDITORS
Amounts falling due after more than one
year

7

(39,794

)

(41,271

)
NET LIABILITIES (43,660 ) (27,225 )

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings (43,760 ) (27,325 )
SHAREHOLDERS' FUNDS (43,660 ) (27,225 )

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 directors acknowledge their 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 December 2024 and were signed on its behalf by:





Mr C C H Wood - Director


Longcross Properties Limited (Registered number: 03640320)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Longcross 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.

The financial statements relate to Longcross Properties Limited as an individual entity.

Significant judgements and estimates
The preparation of the financial statements requires the use by management of estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements, and revenues and expenses during the reporting period. These estimates and assumptions are based on management's best knowledge of the amount, events or actions. Actual results may differ from those amounts

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Sales invoices are raised on satisfactory completion of the work or at agreed stages of completion as the work progresses, depending on the size of the job.

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 - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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
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.

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.

Longcross Properties Limited (Registered number: 03640320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 30,717
DEPRECIATION
At 1 April 2023 21,513
Charge for year 1,381
At 31 March 2024 22,894
NET BOOK VALUE
At 31 March 2024 7,823
At 31 March 2023 9,204

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 12,471 -
Other debtors 19,466 15,611
31,937 15,611

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 35,939 20,517
Taxation and social security 8,722 24,178
Other creditors 5,302 7,322
49,963 52,017

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
31.3.24 31.3.23
£    £   
Other creditors 39,794 41,271

8. ULTIMATE CONTROLLING PARTY

The controlling party is Mr C C H Wood.

Longcross Properties Limited (Registered number: 03640320)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

9. GOING CONCERN

At 31 March 2024 the company had net liabilities of £43.660 (2023:£27,225).

The company has made a loss in the current year due to some major works being completed in the year and new work not being planned to start until some months later. The Directors expect to return to profit in 2024/25.

The directors have confirmed that they will continue to provide financial support to the company for the foreseeable future and that they will not seek full repayment of their loan until the company is in a financial position to enable the loan to be repaid. Included within the above, as detailed in Note 8, are amounts owed to the directors of £39,794 (2023: £41,271).

The directors have considered the future position of the company and are of the opinion that the company will continue to be profitable for the foreseeable future.

In view of the above the directors consider that the going concern basis for the preparation of the accounts is appropriate.