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REGISTERED NUMBER: 07545464 (England and Wales)














Unaudited Financial Statements

for the Year Ended 29 February 2024

for

LONGMAN & GEORGE LIMITED

LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Contents of the Financial Statements
for the year ended 29 February 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LONGMAN & GEORGE LIMITED

Company Information
for the year ended 29 February 2024







Director: Mr D R George





Registered office: New Derwent House
69-73 Theobalds Road
London
WC1X 8TA





Registered number: 07545464 (England and Wales)





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

LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Balance Sheet
29 February 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 89,323 45,810

Current assets
Stocks 45,000 40,000
Debtors 5 279,723 259,051
Cash at bank 9,664 4,751
334,387 303,802
Creditors
Amounts falling due within one year 6 223,154 181,694
Net current assets 111,233 122,108
Total assets less current liabilities 200,556 167,918

Creditors
Amounts falling due after more than one
year

7

(49,530

)

(36,588

)

Provisions for liabilities 9 (16,971 ) (8,704 )
Net assets 134,055 122,626

Capital and reserves
Called up share capital 10 50,000 50,000
Retained earnings 84,055 72,626
Shareholders' funds 134,055 122,626

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 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.

LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Balance Sheet - continued
29 February 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 director and authorised for issue on 26 February 2025 and were signed by:





Mr D R George - Director


LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Notes to the Financial Statements
for the year ended 29 February 2024


1. Statutory information

Longman & George 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.

Key source of estimation, uncertainty and judgement
The preparation of financial statements in conformity with generally accepted accounting practice requires management to make estimates and judgement that affect the reported amounts of assets and liabilities as well as the disclosure of contingent assets and liabilities at the balance sheet date and the reported amounts of revenues and expenses during the reporting period.

There is estimation uncertainty in calculating depreciation. A full line by line review of fixed assets is carried out by management regularly. Whilst every attempt is made to ensure that the depreciation policy is as accurate as possible, there remains a risk that the policy does not match the useful life of the assets.

There is estimation uncertainty in calculating deferred tax. A full line by line review of deferred tax is carried out by management regularly. Whilst every attempt is made to ensure that the deferred tax is as accurate as possible, there remains a risk that the provisions do not match the actual tax liability when asset is disposed of.

There is estimation uncertainty in calculating bad debt provisions. A full line by line review of trade debtors is carried out at the end of each month. Whilst every attempt is made to ensure that the bad debt provisions are as accurate as possible, there remains a risk that the provisions do not match the level of debts which ultimately prove to be uncollectable.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property - 25% on reducing balance
Plant and machinery - 25% on reducing balance
Motor vehicles - 25% on reducing balance
Office equipment - 25% on reducing balance

Stocks and work in progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.

LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


2. Accounting policies - continued

Financial instruments
Financial assets and financial liabilities are recognised in the balance sheet when the company becomes a party to the contractual provisions of the instrument.

Trade and other debtors and creditors are classified as basic financial instruments and measured at initial recognition at transaction price. Debtors and creditors are subsequently measured at amortised cost using the effective interest rate method. A provision is established when there is objective evidence that the company will not be able to collect all amounts due.

Cash and cash equivalents are classified as basic financial instruments and comprise cash in hand and at bank and bank overdrafts.

Financial liabilities and equity instruments issued by the company are classified in accordance with the substance of the contractual arrangements entered into and the definitions of a financial liability and an equity instrument. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Equity instruments issued by the company are recorded at the proceeds received, net of direct issue costs.

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.

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.

3. Employees and directors

The average number of employees during the year was 10 (2023 - 10 ) .

4. Tangible fixed assets
Improvements
to Plant and Motor Office
property machinery vehicles equipment Totals
£    £    £    £    £   
Cost
At 1 March 2023 20,408 37,785 90,734 11,795 160,722
Additions - 9,823 50,995 2,752 63,570
At 29 February 2024 20,408 47,608 141,729 14,547 224,292
Depreciation
At 1 March 2023 19,761 32,088 55,653 7,410 114,912
Charge for year 162 3,675 14,957 1,263 20,057
At 29 February 2024 19,923 35,763 70,610 8,673 134,969
Net book value
At 29 February 2024 485 11,845 71,119 5,874 89,323
At 28 February 2023 647 5,697 35,081 4,385 45,810

LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


5. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 80,000 75,000
Other debtors 199,723 184,051
279,723 259,051

6. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts 10,022 10,000
Hire purchase contracts (see note 8) 29,618 12,278
Trade creditors 99,299 90,000
Taxation and social security 80,853 66,197
Other creditors 3,362 3,219
223,154 181,694

7. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Bank loans 14,167 24,167
Hire purchase contracts (see note 8) 35,363 12,421
49,530 36,588

8. Leasing agreements

Minimum lease payments fall due as follows:

Hire purchase contracts
2024 2023
£    £   
Net obligations repayable:
Within one year 29,618 12,278
Between one and five years 35,363 12,421
64,981 24,699

Non-cancellable operating leases
2024 2023
£    £   
Within one year - 27,000
Between one and five years - 65,250
- 92,250

9. Provisions for liabilities
2024 2023
£    £   
Deferred tax 16,971 8,704

LONGMAN & GEORGE LIMITED (REGISTERED NUMBER: 07545464)

Notes to the Financial Statements - continued
for the year ended 29 February 2024


9. Provisions for liabilities - continued

Deferred
tax
£   
Balance at 1 March 2023 8,704
Provided during year 8,267
Balance at 29 February 2024 16,971

10. Called up share capital

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
12,500 A Ordinary £1 12,500 12,500
18,750 B Ordinary £1 18,750 18,750
18,750 C Ordinary £1 18,750 18,750
50,000 50,000

11. Director's advances, credits and guarantees

Included in other debtors due in over one year is an amount of £184,270 (2023 - £179,128) due from the directors and shareholders.