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REGISTERED NUMBER: 01307835 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 JULY 2024

FOR

LONG & MARSHALL LIMITED

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONG & MARSHALL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







DIRECTORS: Mrs A V Keane
Mr M Long
Mr V Long





REGISTERED OFFICE: 1 Hayward Business Centre
New Lane
Havant
Hampshire
PO9 2NL





REGISTERED NUMBER: 01307835 (England and Wales)





ACCOUNTANTS: Ad Valorem Accountancy Services Limited
Chartered Certified Accountants
2 Manor Farm Court
Old Wolverton Road
Old Wolverton
Buckinghamshire
MK12 5NN

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible assets 4 527,436 692,562

CURRENT ASSETS
Stocks 416,323 389,550
Debtors 5 667,150 595,414
Cash at bank and in hand 296,491 464,698
1,379,964 1,449,662
CREDITORS
Amounts falling due within one year 6 599,510 590,416
NET CURRENT ASSETS 780,454 859,246
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,307,890

1,551,808

CREDITORS
Amounts falling due after more than one
year

7

(402,822

)

(610,056

)

PROVISIONS FOR LIABILITIES (130,992 ) (118,289 )
NET ASSETS 774,076 823,463

CAPITAL AND RESERVES
Called up share capital 9 30,000 30,000
Retained earnings 744,076 793,463
SHAREHOLDERS' FUNDS 774,076 823,463

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 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.

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

BALANCE SHEET - continued
31 JULY 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 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 15 January 2025 and were signed on its behalf by:





Mr V Long - Director


LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024


1. STATUTORY INFORMATION

Long & Marshall 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.

TURNOVER
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts and volume rebates.

Revenue from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have passed to the buyer (usually on dispatch of the goods). The amount of revenue can be measured reliably, it is probable that the economic benefits associated with the transaction will flow to the entity and the costs incurred or to be incurred in respect of the transaction can be measured reliably.

TANGIBLE FIXED ASSETS
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Short leasehold - 10% on cost
Plant and machinery - 25% on reducing balance
Fixtures and fittings - 20% on cost and 15% on reducing balance

STOCKS
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

FINANCIAL INSTRUMENTS
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally 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.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors and bank loans, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

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.

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


2. ACCOUNTING POLICIES - continued

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.

GOING CONCERN
These financial statements are prepared on the going concern basis. The directors have a reasonable expectation that the company will continue in operational existence for the foreseeable future.

PROVISIONS
Provisions are recognised when the company has a legal or constructive present obligation as a result of a past event, it is probable that the company will be required to settle that obligation and a reliable estimate can be made of the amount of the obligation.

The amount recognised as a provision is the best estimate of the consideration required to settle the present obligation at the reporting end date, taking into account the risks and uncertainties surrounding the obligation. Where the effect of the time value of money is material, the amount expected to be required to settle the obligation is recognised at present value. When a provision is measured at present value, the unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 17 (2023 - 16 ) .

4. TANGIBLE FIXED ASSETS
Plant and
Land and machinery
buildings etc Totals
£ £ £
COST
At 1 August 2023 35,081 3,018,446 3,053,527
Additions - 8,302 8,302
At 31 July 2024 35,081 3,026,748 3,061,829
DEPRECIATION
At 1 August 2023 34,098 2,326,867 2,360,965
Charge for year 737 172,691 173,428
At 31 July 2024 34,835 2,499,558 2,534,393
NET BOOK VALUE
At 31 July 2024 246 527,190 527,436
At 31 July 2023 983 691,579 692,562

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade debtors 572,836 490,444
Other debtors 94,314 104,970
667,150 595,414

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans and overdrafts 210,578 48,762
Hire purchase contracts (see note 8) 124,788 154,792
Trade creditors 109,275 340,611
Taxation and social security 114,752 16,609
Other creditors 40,117 29,642
599,510 590,416

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£ £
Bank loans 87,500 138,738
Hire purchase contracts (see note 8) 315,322 471,318
402,822 610,056

Amounts falling due in more than five years:

Repayable by instalments
Hire purchase 42,990 66,210

8. LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£ £
Net obligations repayable:
Within one year 124,788 154,792
Between one and five years 272,332 405,108
In more than five years 42,990 66,210
440,110 626,110

Non-cancellable
operating leases
2024 2023
£ £
Within one year 56,648 212,136
Between one and five years 6,475 63,124
63,123 275,260

LONG & MARSHALL LIMITED (REGISTERED NUMBER: 01307835)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024


9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £ £
6,000 Ordinary £1.00 6,000 6,000
12,000 A Ordinary £1.00 12,000 12,000
12,000 B Ordinary £1.00 12,000 12,000
30,000 30,000

10. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the year end, included within other creditors is an amount of £744 (2023 : £Nil) due to the directors of the company.