4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-01-01 Sage Accounts Production Advanced 2024 - FRS102_2024 27,193 4,421 2,587 7,008 20,185 22,772 221,810 18,991 240,801 240,801 221,810 xbrli:pure xbrli:shares iso4217:GBP 08892956 2023-01-01 2023-12-31 08892956 2023-12-31 08892956 2022-12-31 08892956 2022-01-01 2022-12-31 08892956 2022-12-31 08892956 2021-12-31 08892956 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-01 2023-12-31 08892956 core:FurnitureFittings 2023-01-01 2023-12-31 08892956 bus:Director2 2023-01-01 2023-12-31 08892956 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 08892956 core:PatentsTrademarksLicencesConcessionsSimilar 2023-12-31 08892956 core:FurnitureFittings 2023-12-31 08892956 core:WithinOneYear 2023-12-31 08892956 core:WithinOneYear 2022-12-31 08892956 core:ShareCapital 2023-12-31 08892956 core:ShareCapital 2022-12-31 08892956 core:RetainedEarningsAccumulatedLosses 2023-12-31 08892956 core:RetainedEarningsAccumulatedLosses 2022-12-31 08892956 core:PatentsTrademarksLicencesConcessionsSimilar 2022-12-31 08892956 core:CostValuation core:Non-currentFinancialInstruments 2022-12-31 08892956 core:AdditionsToInvestments core:Non-currentFinancialInstruments 2023-12-31 08892956 core:CostValuation core:Non-currentFinancialInstruments 2023-12-31 08892956 core:Non-currentFinancialInstruments 2023-12-31 08892956 core:Non-currentFinancialInstruments 2022-12-31 08892956 bus:SmallEntities 2023-01-01 2023-12-31 08892956 bus:AuditExemptWithAccountantsReport 2023-01-01 2023-12-31 08892956 bus:SmallCompaniesRegimeForAccounts 2023-01-01 2023-12-31 08892956 bus:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 08892956 bus:FullAccounts 2023-01-01 2023-12-31 08892956 core:OfficeEquipment 2023-01-01 2023-12-31 08892956 core:OfficeEquipment 2022-12-31 08892956 core:OfficeEquipment 2023-12-31 08892956 core:AllAssociates 2023-01-01 2023-12-31 08892956 core:KeyManagementPersonnel 2023-01-01 2023-12-31
COMPANY REGISTRATION NUMBER: 08892956
TheLonghouse Limited
Filleted Unaudited Financial Statements
31 December 2023
TheLonghouse Limited
Financial Statements
Year ended 31 December 2023
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
TheLonghouse Limited
Statement of Financial Position
31 December 2023
2023
2022
Note
£
£
£
Fixed assets
Intangible assets
5
20,185
22,772
Tangible assets
6
15,499
12,614
Investments
7
240,801
221,810
---------
---------
276,485
257,196
Current assets
Debtors
8
584
100
Cash at bank and in hand
1,056
-------
----
1,640
100
Creditors: amounts falling due within one year
9
1,023,409
839,229
------------
---------
Net current liabilities
1,021,769
839,129
------------
---------
Total assets less current liabilities
( 745,284)
( 581,933)
---------
---------
Net liabilities
( 745,284)
( 581,933)
---------
---------
Capital and reserves
Called up share capital
100
100
Profit and loss account
( 745,384)
( 582,033)
---------
---------
Shareholders deficit
( 745,284)
( 581,933)
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
TheLonghouse Limited
Statement of Financial Position (continued)
31 December 2023
These financial statements were approved by the board of directors and authorised for issue on 21 January 2025 , and are signed on behalf of the board by:
Mr J A Vincent
Director
Company registration number: 08892956
TheLonghouse Limited
Notes to the Financial Statements
Year ended 31 December 2023
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Camburgh House, 27 New Dover Road, Canterbury, Kent, United Kingdom, CT1 3DN.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
These accounts have been prepared on a going concern basis. The directors are satisfied that the company is forecast to continue to meet its current obligations.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for services rendered, stated net of discounts and of Value Added Tax. For the rendering of services, revenue is recognised when the services are transferred. When the outcome of a transaction can be estimated reliably, revenue is recognised based on the stage of completion of the transaction at the end of the reporting period. If the outcome of the transaction involving the rendering of services cannot be estimated reliably, revenue is recognised only to the extent of the expenses recognised that it is probable will be recovered.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Amortisation
Amortisation is calculated so as to write off the cost of an asset, less its estimated residual value, over the useful life of that asset as follows:
Patents, trademarks and licences
-
10% straight line
If there is an indication that there has been a significant change in amortisation rate, useful life or residual value of an intangible asset, the amortisation is revised prospectively to reflect the new estimates.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fixtures and fittings
-
25% straight line
Equipment
-
25% straight line
Investments
Fixed asset investments are initially recorded at cost, and subsequently stated at cost less any accumulated impairment losses.
Listed investments are measured at fair value with changes in fair value being recognised in profit or loss.
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.
Financial instruments
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2022: 4 ).
5. Intangible assets
Patents, trademarks and licences
£
Cost
At 1 January 2023 and 31 December 2023
27,193
--------
Amortisation
At 1 January 2023
4,421
Charge for the year
2,587
--------
At 31 December 2023
7,008
--------
Carrying amount
At 31 December 2023
20,185
--------
At 31 December 2022
22,772
--------
6. Tangible assets
Fixtures and fittings
Equipment
Total
£
£
£
Cost
At 1 January 2023
16,989
16,989
Additions
7,140
992
8,132
-------
--------
--------
At 31 December 2023
7,140
17,981
25,121
-------
--------
--------
Depreciation
At 1 January 2023
4,375
4,375
Charge for the year
1,785
3,462
5,247
-------
--------
--------
At 31 December 2023
1,785
7,837
9,622
-------
--------
--------
Carrying amount
At 31 December 2023
5,355
10,144
15,499
-------
--------
--------
At 31 December 2022
12,614
12,614
-------
--------
--------
7. Investments
Other investments other than loans
£
Cost
At 1 January 2023
221,810
Additions
18,991
---------
At 31 December 2023
240,801
---------
Impairment
At 1 January 2023 and 31 December 2023
---------
Carrying amount
At 31 December 2023
240,801
---------
At 31 December 2022
221,810
---------
8. Debtors
2023
2022
£
£
Other debtors
584
100
----
----
9. Creditors: amounts falling due within one year
2023
2022
£
£
Social security and other taxes
10,094
1,464
Other creditors
1,013,315
837,765
------------
---------
1,023,409
839,229
------------
---------
10. Related party transactions
At the year end, the company owed £802,910 to a companies under common control (2022: £804,914). At the balance sheet date, the company owed the director £208,905 (2022: £31,351).