REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
LONGMILL ESTATES LTD |
REGISTERED NUMBER: |
Unaudited Financial Statements for the Year Ended 31 May 2024 |
for |
LONGMILL ESTATES LTD |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Contents of the Financial Statements |
for the Year Ended 31 May 2024 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 4 |
LONGMILL ESTATES LTD |
Company Information |
for the Year Ended 31 May 2024 |
DIRECTORS: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
CHARTERED CERTIFIED ACCOUNTANTS |
SPACES |
12 HAMMERSMITH GROVE |
LONDON |
W6 7AP |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Balance Sheet |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Investment property | 4 |
CURRENT ASSETS |
Debtors | 5 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 6 |
NET CURRENT LIABILITIES | ( |
) | ( |
) |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
7 |
NET ASSETS |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Balance Sheet - continued |
31 May 2024 |
31.5.24 | 31.5.23 |
Notes | £ | £ | £ | £ |
CAPITAL AND RESERVES |
Called up share capital | 9 |
Retained earnings | 10 |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Notes to the Financial Statements |
for the Year Ended 31 May 2024 |
1. | STATUTORY INFORMATION |
LONGMILL ESTATES LTD is a |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Related party exemption |
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group. |
Investment property |
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss. |
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 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. |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INVESTMENT PROPERTY |
Total |
£ |
FAIR VALUE |
At 1 June 2023 |
Additions |
At 31 May 2024 |
NET BOOK VALUE |
At 31 May 2024 |
At 31 May 2023 |
On 1st August, 2023 the company acquired some of the assets and liabilities of Focus Estates LLP which went into liquidation. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Other debtors |
6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Taxation and social security |
Other creditors |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR - continued |
31.5.24 | 31.5.23 |
£ | £ |
Amounts falling due in more than five years: |
Repayable otherwise than by instalments |
Bank loans more 5 yrs non-inst |
8. | SECURED DEBTS |
The following secured debts are included within creditors: |
31.5.24 | 31.5.23 |
£ | £ |
Bank loans |
The loans are secured against the freehold investment properties of the company. |
9. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 31.5.24 | 31.5.23 |
value: | £ | £ |
ORDINARY | £1 | 2 | 2 |
10. | RESERVES |
Retained |
earnings |
£ |
At 1 June 2023 |
Profit for the year |
At 31 May 2024 |
LONGMILL ESTATES LTD (Registered number: 10758773) |
Notes to the Financial Statements - continued |
for the Year Ended 31 May 2024 |
11. | RELATED PARTY DISCLOSURES |
The company operates a current account with its Directors. The loan is interest free with no fixed repayment terms and are included in other creditors. The balance owed to the directors at the year end was £599,607 (2023 - £100,104) and the maximum balance during the year was £599,607. |
Also on 1st August,2023, Mr G Heeroo and Mr Ashley Heeroo transferred all their assets (Land and Buildings) that were held in Focus Estates LLP to this company. The value of the assets amounted to £519,000. This transaction was done through the directors' loan account. |
12. | ULTIMATE CONTROLLING PARTY |
The company is controlled by KGH Holdings Limited who owns 100% of the share capital. |