Caseware UK (AP4) 2023.0.135 2023.0.135 2024-11-302024-11-3002023-12-01falseNo description of principal activity0falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 10489644 2023-12-01 2024-11-30 10489644 2022-12-01 2023-11-30 10489644 2024-11-30 10489644 2023-11-30 10489644 2022-12-01 10489644 c:Director1 2023-12-01 2024-11-30 10489644 c:Director3 2023-12-01 2024-11-30 10489644 c:RegisteredOffice 2023-12-01 2024-11-30 10489644 c:Agent1 2023-12-01 2024-11-30 10489644 d:CurrentFinancialInstruments 2024-11-30 10489644 d:CurrentFinancialInstruments 2023-11-30 10489644 d:CurrentFinancialInstruments d:WithinOneYear 2024-11-30 10489644 d:CurrentFinancialInstruments d:WithinOneYear 2023-11-30 10489644 d:ShareCapital 2024-11-30 10489644 d:ShareCapital 2023-11-30 10489644 d:RetainedEarningsAccumulatedLosses 2024-11-30 10489644 d:RetainedEarningsAccumulatedLosses 2023-11-30 10489644 c:FRS102 2023-12-01 2024-11-30 10489644 c:AuditExemptWithAccountantsReport 2023-12-01 2024-11-30 10489644 c:FullAccounts 2023-12-01 2024-11-30 10489644 c:PrivateLimitedCompanyLtd 2023-12-01 2024-11-30 10489644 2 2023-12-01 2024-11-30 10489644 6 2023-12-01 2024-11-30 10489644 d:AcceleratedTaxDepreciationDeferredTax 2024-11-30 10489644 d:AcceleratedTaxDepreciationDeferredTax 2023-11-30 10489644 d:TaxLossesCarry-forwardsDeferredTax 2024-11-30 10489644 d:TaxLossesCarry-forwardsDeferredTax 2023-11-30 10489644 1 2024-11-30 10489644 1 2023-11-30 iso4217:GBP xbrli:pure

Registered number: 10489644









LANGBOURNE INVESTMENTS LTD







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 NOVEMBER 2024

 
LANGBOURNE INVESTMENTS LTD
 
 
COMPANY INFORMATION


Directors
Mrs P P Prentis 
Mr J P Prentis 




Registered number
10489644



Registered office
53 Arthog Road
Hale

Altrincham

Cheshire

WA15 0LS




Accountants
Grant Thornton UK LLP
Chartered Accountants

Royal Liver Building

Liverpool

L3 1PS




Bankers
UBS
5 Broadgate

London

EC2M 2QS





 
LANGBOURNE INVESTMENTS LTD
 

CONTENTS



Page
Accountant's report
 
1
Statement of financial position
 
2 - 3
Notes to the financial statements
 
4 - 8


  
  img7875.png
Report to the directors on the preparation of the unaudited statutory financial statements of Langbourne Investments Ltd for the year ended 30 November 2024 

We have compiled the accompanying financial statements of Langbourne Investments Ltd (the ‘company’)  based on the information you have provided. These financial statements comprise the Statement of Financial Position of Langbourne Investments Ltd as at 30 November 2024, and a summary of significant accounting policies and other explanatory information. 

We performed this compilation engagement in accordance with International Standard on Related Services 4410 (Revised), 'Compilation Engagements'.

We have applied our expertise in accounting and financial reporting to assist you in the preparation and presentation of these financial statements in accordance with applicable law and United Kingdom Accounting Standardsincluding Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice). As a member firm of the Institute of Chartered Accountants in England and Waleswe are subject to its ethical and other professional requirements which are detailed at www.icaew.com

These financial statements and the accuracy and completeness of the information used to compile them are your responsibility.

Since a compilation engagement is not an assurance engagement, we are not required to verify the accuracy or completeness of the information you provided to us to compile these financial statements. Accordingly, we do not express an audit opinion or a review conclusion on whether these financial statements are prepared in accordance with United Kingdom Generally Accepted Accounting Practice.

This report is made solely to the Company's directors, as a body,  in accordance with the terms of our engagement letter dated 3 February 2025Our work has been undertaken solely to prepare for your approval the financial statements of the company and state those matters that we have agreed to state to the Company's directors, as a body,  in this report in accordance with our engagement letter dated 3 February 2025. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its directors, as a body,  for our work or for this report.




Grant Thornton UK LLP
Chartered Accountants
Liverpool

14 March 2025
Page 1

 
LANGBOURNE INVESTMENTS LTD
REGISTERED NUMBER:10489644

STATEMENT OF FINANCIAL POSITION
AS AT 30 NOVEMBER 2024

2024
2024
2023
2023
Note
£
£
£
£

Fixed assets
  

Investments
 4 
6,252,109
5,448,872


Current assets
  

Debtors: amounts falling due within one year
 5 
281
-

Cash at bank and in hand
  
372
359


  

653
359


Current liabilities
  

Creditors: amounts falling due within one year
 6 
(4,440,755)
(4,435,680)

Net current liabilities
  
 
 
(4,440,102)
 
 
(4,435,321)

Total assets less current liabilities
  
1,812,007
1,013,551

Provisions for liabilities
  

Deferred tax
 7 
(448,778)
(253,451)

  
 
 
(448,778)
 
 
(253,451)

Net assets
  
1,363,229
760,100


Capital and reserves
  

Called up share capital 
  
4
4

Profit and loss account
  
1,363,225
760,096

  
1,363,229
760,100


Page 2

 
LANGBOURNE INVESTMENTS LTD
REGISTERED NUMBER:10489644
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 NOVEMBER 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




Mr J P Prentis
Director

Date: 13 March 2025

The notes on pages 4 to 8 form part of these financial statements.

Page 3

 
LANGBOURNE INVESTMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

1.


General information

The company is a private company limited by shares and is registered in England and Wales.
Registered office: 53 Arthog Road, Hale, Altrincham, Cheshire WA15 0LS.
Registered number:10489644.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

There are inherent uncertainties in relation to the investments held but should the company require additional facilities the directors, in their capacity as shareholders, have confirmed that they will provide financial support. Accordingly, the directors continue to adopt the going concern basis in preparing these financial statements.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

  
2.4

Other operating income

Other operating income represents dividends receivable from investments and is recognised on a received basis. This also represents the change in market value of investments.

 
2.5

Deferred taxation

The tax expense for the year comprises deferred tax. Tax is recognised in profit or loss, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.


Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Statement of Financial Position, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

Page 4

 
LANGBOURNE INVESTMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)

 
2.6

Valuation of investments

Investments held as fixed assets are valued using the last traded or mid-market prices where available, where it has not been possible to value the securities on this basis, investments have been valued on a basis considered appropriate at 30 November 2024, which the directors consider to be fair value. Gains and losses on remeasurement are recognised in profit or loss for the year.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position 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 trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, 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.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other debtors due with the operating cycle fall into this category of financial instruments.

Impairment of financial assets

Financial assets are assessed for indicators of impairment at each reporting date. 

Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.

If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.

 
Page 5

 
LANGBOURNE INVESTMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

2.Accounting policies (continued)


2.8
Financial instruments (continued)


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 the deduction of all its liabilities.

Basic financial liabilities, which include trade and other creditors, bank loans and other loans are initially measured at their transaction price (adjusting for transaction costs except in the initial measurement of financial liabilities that are subsequently measured at fair value through profit and loss). When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future payments discounted at a market rate of interest, discounting is omitted where the effect of discounting is immaterial.

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

Trade creditors are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade creditors are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

Derecognition of financial instruments

Derecognition of financial assets

Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.

Derecognition of financial liabilities

Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.


3.


Employees

The Company has no employees (2023 - Nil) other than the directors, who did not receive any remuneration (2023: £Nil).

Page 6

 
LANGBOURNE INVESTMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

4.

Fixed asset investments





Listed investments

£



Valuation


At 1 December 2023
5,448,872


Additions
17,150


Revaluations
786,087



At 30 November 2024

6,252,109






Net book value



At 30 November 2024
6,252,109



At 30 November 2023
5,448,872

The historical cost of the listed investments had they not been revalued is £4,423,092 (2023: £4,405,942).



5.


Debtors

2024
2023
£
£


Prepayments
281
-



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Shareholders' loan account
4,436,216
4,431,360

Accruals
4,539
4,320

4,440,755
4,435,680


The shareholders' loan account is unsecured and non-interest bearing.

Page 7

 
LANGBOURNE INVESTMENTS LTD
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024

7.


Deferred taxation




2024
2023


£

£






At beginning of year
(253,451)
(179,848)


Charged to profit or loss
(195,327)
(73,603)



At end of year
(448,778)
(253,451)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Capital gains
(457,254)
(260,733)

Losses and other deductions
8,476
7,282

(448,778)
(253,451)


8.


Related party transactions

As at 30 November 2024, an amount of £4,436,216 (2023: £4,431,360) is due to the directors and shareholders  of the company.

 
Page 8