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Registration number: 09274286

Report of the Director and


Annual Report and Unaudited Financial Statements

for the Year Ended 31 October 2023

for
 

Longwood Management Ltd

 

Longwood Management Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 7

 

Longwood Management Ltd

Company Information

Director:

Mr MI Skehill

Registered office:

Savoy House
Savoy Circus
London
W3 7DA

Registered number:

09274286

Accountants:

Wem & Co
Chartered Accountants
Savoy House
Savoy Circus
London
W3 7DA

 

Longwood Management Ltd

(Registration number: 09274286)
Balance Sheet as at 31 October 2023

Note

31.10.23

31.10.22

   

£

£

£

£

FIXED ASSETS

   

 

Tangible assets

4

 

1,628

 

4,852

Investment property

5

 

5,803,744

 

4,917,676

   

5,805,372

 

4,922,528

CURRENT ASSETS

   

 

Stocks

35,599

 

35,599

 

Debtors

6

431,013

 

484,088

 

Cash at bank and in hand

 

345,853

 

38,326

 

 

812,465

 

558,013

 

CREDITORS

   

 

Creditors within 1yr

7

360,314

 

387,513

 

Net current assets

   

452,151

 

170,500

Total assets less current liabilities

   

6,257,523

 

5,093,028

Creditors
Amounts falling due after more than one year

7

 

3,019,800

 

1,897,540

PROVISIONS FOR LIABILITIES

 

(468,875)

 

(468,875)

Net assets

   

2,768,848

 

2,726,613

CAPITAL AND RESERVES

   

 

Called up share capital

 

1

 

1

Other reserves

 

2,382,788

 

2,382,788

Profit and loss account

 

386,059

 

343,824

Shareholders' funds

   

2,768,848

 

2,726,613

For the financial year ending 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

 

Longwood Management Ltd

(Registration number: 09274286)
Balance Sheet as at 31 October 2023 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 20 March 2025

.........................................
Mr MI Skehill
Director

 

Longwood Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023

1.

General information

The company is a private company limited by share capital, incorporated in England & Wales .

The address of its registered office is:
Savoy House
Savoy Circus
London
W3 7DA
England

These financial statements were authorised for issue by the director on 20 March 2025.

2.

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency is Pound Sterling (£).

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Government grants

Government grants in relation to tangible fixed asset are credited to profit and loss account over he useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Longwood Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

2

Accounting policies (continued)

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

No depreciation is charged on land and buildings as in the opinion of the director any depreciation would be immaterial.

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

25% straight line basis

Fixtures and fittings

25% straight line basis

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.

3.

Staff numbers

The average number of persons employed by the company during the year, was 0 (2022 - 0).

 

Longwood Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

4.

Tangible assets

Fixtures and fittings
£

Plant and machinery
£

Total
£

Cost or valuation

At 1 November 2022

12,474

63,778

76,252

At 31 October 2023

12,474

63,778

76,252

Depreciation

At 1 November 2022

9,622

61,778

71,400

Charge for the year

1,224

2,000

3,224

At 31 October 2023

10,846

63,778

74,624

Carrying amount

At 31 October 2023

1,628

-

1,628

At 31 October 2022

2,852

2,000

4,852

5.

Investment properties

31.10.23
£

At 1 November 2022

5,431,440

Additions

372,304

At 31 October 2023

5,803,744

The properties were valued at the year end on an open market basis by the director.

6.

Debtors

31.10.23
£

31.10.22
£

Prepayments

33,636

-

Other debtors

397,377

484,088

431,013

484,088

Included in other debtors was a director's loan of £(107,783), including interests at the official rate and no repayment terms have been set.
 

 

Longwood Management Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2023 (continued)

7.

Creditors

Creditors: amounts falling due within one year

Note

31.10.23
£

31.10.22
£

Due within one year

 

Loans and borrowings

11,280

11,280

Trade creditors

 

99,784

83,484

Taxation and social security

 

101,699

102,636

Accruals and deferred income

 

3,840

1,440

Other creditors

 

143,711

188,673

 

360,314

387,513

Creditors: amounts falling due after more than one year

Note

31.10.23
£

31.10.22
£

Due after one year

 

Loans and borrowings

17,125

28,393

Other non-current financial liabilities

 

3,002,675

1,869,147

 

3,019,800

1,897,540

31.10.23
£

31.10.22
£

Due after more than five years

After more than five years by instalments

-

603,147

After more than five years not by instalments

580,171

-

580,171

603,147

8.

Reserves

Retained Earnings
£

Investment Property Reserve
£

Totals
£

At 1 November 2022

343,824

2,382,788

2,726,612

Profit for the year

132,235

-

132,235

Dividends

(90,000)

-

(90,000)

386,059

2,382,788

2,768,847