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REGISTERED NUMBER: 08491538 (England and Wales)















Longstone Investment Management Limited

Unaudited Financial Statements

for the Year Ended 30 April 2024






Longstone Investment Management Limited (Registered number: 08491538)

Contents of the Financial Statements
for the year ended 30 April 2024










Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Longstone Investment Management Limited

Company Information
for the year ended 30 April 2024







Director: K S Davidson





Registered office: Office 83
22 Notting Hill Gate
London
W11 3JE





Registered number: 08491538 (England and Wales)





Accountants: Cooper Parry Advisory Limited
New Derwent House
69-73 Theobalds Road
London
WC1X 8TA

Longstone Investment Management Limited (Registered number: 08491538)

Statement of Financial Position
30 April 2024

2024 2023
Notes £ £ £ £
Fixed assets
Investment property 4 3,325,000 4,668,317

Current assets
Debtors 5 7,537 2,416
Cash at bank 28,480 78,239
36,017 80,655
Creditors
Amounts falling due within one year 6 3,134,650 2,939,668
Net current liabilities (3,098,633 ) (2,859,013 )
Total assets less current liabilities 226,367 1,809,304

Provisions for liabilities 77,525 413,354
Net assets 148,842 1,395,950

Capital and reserves
Called up share capital 7 100 100
Retained earnings 8 148,742 1,395,850
Shareholders' funds 148,842 1,395,950

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

Longstone Investment Management Limited (Registered number: 08491538)

Statement of Financial Position - continued
30 April 2024


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 30 January 2025 and were signed by:





K S Davidson - Director


Longstone Investment Management Limited (Registered number: 08491538)

Notes to the Financial Statements
for the year ended 30 April 2024


1. Statutory information

Longstone Investment Management 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 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 as modified by the revaluation of certain assets.

Investment property
Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure . Subsequently it is measured at fair value a t the reporting end date. The surplus or deficit on revaluation is recognised in the profit and loss account.

Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed assets.

Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from the bank and other third parties, loans to related parties, and investment in ordinary shares.

Financial assets and liabilities are offset and the net amount reported in the balance sheet when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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 statement of financial position date.

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.

Going concern
The financial statements have been prepared on a going concern basis. The director has reviewed and considered relevant information, including the annual budget and future cash flows in making their assessment.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

Longstone Investment Management Limited (Registered number: 08491538)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


4. Investment property
Total
£
Fair value
At 1 May 2023 4,668,317
Revaluations (1,343,317 )
At 30 April 2024 3,325,000
Net book value
At 30 April 2024 3,325,000
At 30 April 2023 4,668,317

Investment property is stated at fair value as determined by the Director. This was on the basis of open
market value for current use.

5. Debtors: amounts falling due within one year
2024 2023
£ £
Other debtors 7,537 2,416

6. Creditors: amounts falling due within one year
2024 2023
£ £
Taxation and social security 116 116
Other creditors 3,134,534 2,939,552
3,134,650 2,939,668

7. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
100 Ordinary £1 100 100

8. Reserves
Retained
earnings
£

At 1 May 2023 1,395,850
Deficit for the year (1,247,108 )
At 30 April 2024 148,742

Longstone Investment Management Limited (Registered number: 08491538)

Notes to the Financial Statements - continued
for the year ended 30 April 2024


9. Director's advances, credits and guarantees

At the balance sheet date the director was owed a sum of £1,495,551 (2023: £2,037,051).