2023-05-012024-04-302024-04-30false10726966LONG STREET DEVELOPMENT 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LONG STREET DEVELOPMENT LTD

Registered Number
10726966
(England and Wales)

Unaudited Financial Statements for the Year ended
30 April 2024

LONG STREET DEVELOPMENT LTD
Company Information
for the year from 1 May 2023 to 30 April 2024

Directors

BIOSCA, Carla Polo
JURI, Marco

Registered Address

38 Craven Street
London
WC2N 5NG

Registered Number

10726966 (England and Wales)
LONG STREET DEVELOPMENT LTD
Balance Sheet as at
30 April 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Investments3794,153794,153
794,153794,153
Current assets
Stocks4573,802532,758
Debtors17,54512,116
Cash at bank and on hand10,3311,905
601,678546,779
Creditors amounts falling due within one year5(1,443,595)(1,360,221)
Net current assets (liabilities)(841,917)(813,442)
Total assets less current liabilities(47,764)(19,289)
Provisions for liabilities6(39,163)(39,163)
Net assets(86,927)(58,452)
Capital and reserves
Called up share capital100100
Profit and loss account(87,027)(58,552)
Shareholders' funds(86,927)(58,452)
The financial statements were approved and authorised for issue by the Board of Directors on 20 December 2024, and are signed on its behalf by:
JURI, Marco
Director
Registered Company No. 10726966
LONG STREET DEVELOPMENT LTD
Notes to the Financial Statements
for the year ended 30 April 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
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.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Stocks and work in progress
Inventories are valued at the lower of cost and estimated selling price (less any associated costs to enable such sales to complete).
2.Average number of employees

20242023
Average number of employees during the year00
3.Fixed asset investments
This is an investment in property held for investment purpose.

Other investments1

Total

££
Cost or valuation
At 01 May 23794,153794,153
At 30 April 24794,153794,153
Net book value
At 30 April 24794,153794,153
At 30 April 23794,153794,153

Notes

1Other investments other than loans
4.Stocks

2024

2023

££
Other stocks573,802532,758
Total573,802532,758
5.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables13,97012,625
Amounts owed to related parties1,423,5841,337,796
Accrued liabilities and deferred income6,0419,800
Total1,443,5951,360,221
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. Loans from shareholders are payable on demand and does not bear any interest.
6.Provisions for liabilities

2024

2023

££
Net deferred tax liability (asset)39,16339,163
Total39,16339,163
7.Related party transactions
As at year end the company had a long term loan from the shareholders for an amount of £1,423,584 (2023: £1,337,796). The loan is interest free with repayment on demand.