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Company No: 13458481 (England and Wales)

LONGMEAD (PICCADILLY) LIMITED

Unaudited Financial Statements
For the financial year ended 30 June 2024
Pages for filing with the registrar

LONGMEAD (PICCADILLY) LIMITED

Unaudited Financial Statements

For the financial year ended 30 June 2024

Contents

LONGMEAD (PICCADILLY) LIMITED

COMPANY INFORMATION

For the financial year ended 30 June 2024
LONGMEAD (PICCADILLY) LIMITED

COMPANY INFORMATION (continued)

For the financial year ended 30 June 2024
DIRECTORS J G Brackenbury
S Patel
REGISTERED OFFICE 9-10 Coachworks C/O Longmead Capital
9-10 Coachworks
W1T 4EF
London
United Kingdom
COMPANY NUMBER 13458481 (England and Wales)
ACCOUNTANT Evelyn Partners (South East) Limited
Brockbourne House
77 Mount Ephraim
Royal Tunbridge Wells
TN4 8BS
LONGMEAD (PICCADILLY) LIMITED

BALANCE SHEET

As at 30 June 2024
LONGMEAD (PICCADILLY) LIMITED

BALANCE SHEET (continued)

As at 30 June 2024
Note 2024 2023
£ £
Fixed assets
Investments 3 143,517 143,517
143,517 143,517
Current assets
Debtors
- due within one year 4 21,837 107,347
- due after more than one year 4 975,246 1,103,313
997,083 1,210,660
Creditors: amounts falling due within one year 5 ( 1,109,521) ( 1,335,695)
Net current liabilities (112,438) (125,035)
Total assets less current liabilities 31,079 18,482
Net assets 31,079 18,482
Capital and reserves
Called-up share capital 1 1
Profit and loss account 31,078 18,481
Total shareholder's funds 31,079 18,482

For the financial year ending 30 June 2024 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Longmead (Piccadilly) Limited (registered number: 13458481) were approved and authorised for issue by the Board of Directors on 26 March 2025. They were signed on its behalf by:

S Patel
Director
LONGMEAD (PICCADILLY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
LONGMEAD (PICCADILLY) LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 30 June 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Longmead (Piccadilly) Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is 9-10 Coachworks C/O Longmead Capital,London, United Kingdom, W1T 4EF.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with ‘The Financial Reporting Standard applicable in the UK and the Republic of Ireland’ issued by the Financial Reporting Council, including Section 1A of Financial Reporting Standard 102 (FRS102), and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The functional currency of Longmead (Piccadilly) Limited is considered to be pounds sterling because that is the currency of the primary economic environment in which the Company operates.

These financial statements are separate financial statements.

Going concern

The financial statements have been prepared on a going concern basis despite the net liabilities.

The directors have made an assessment in preparing these financial statements as to whether the Company is a going concern and have concluded that there are no material uncertainties that may cast significant doubt on the Company's ability to continue as a going concern for a period of at least 12 months from the date of approval of these financial statements.

Interest income

Interest income is recognised when it is probable that the economic benefits will flow to the Company and the amount of revenue can be measured reliably. Interest income is accrued on a time basis, by reference to the principal outstanding at the effective interest rate applicable, which is the rate that exactly discounts estimated future cash receipts through the expected life of the financial asset to that asset's net carrying amount on initial recognition.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Balance Sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on enacted or substantively enacted tax rates and laws. Deferred tax assets and liabilities are not discounted.

The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit. Deferred tax assets are recognised only to the extent that it is probable that future taxable profit will be available against which the temporary differences can be utilised.

Fixed asset investments

Investments are recognised initially at fair value which is normally the transaction price excluding transaction costs. Subsequently, they are measured at fair value through profit or loss if the shares are publicly traded or their fair value can otherwise be measured reliably. Other investments are measured at cost less impairment.

Trade and other debtors

Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts, except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.

Trade and other creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers.

Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.

Financial instruments

Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.

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.

Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the Company during the year, including directors 2 2

3. Fixed asset investments

Other investments Total
£ £
Cost or valuation before impairment
At 01 July 2023 143,517 143,517
At 30 June 2024 143,517 143,517
Carrying value at 30 June 2024 143,517 143,517
Carrying value at 30 June 2023 143,517 143,517

4. Debtors

2024 2023
£ £
Debtors: amounts falling due within one year
Other debtors 21,837 107,347
Debtors: amounts falling due after more than one year
Other debtors 975,246 1,103,313

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to Parent undertakings 1,100,882 1,327,647
Taxation and social security 4,199 3,848
Other creditors 4,440 4,200
1,109,521 1,335,695

Amounts owed to Group undertakings are repayable on demand and do not bear interest.

6. Ultimate controlling party

Parent Company:

Longmead Capital Limited
9-10 Coachworks C/O Longmead Capital, Charlotte Mews, London, United Kingdom, W1T 4EF