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REGISTERED NUMBER: 01061046 (England and Wales)











Unaudited Financial Statements

for the Year Ended 30 September 2024

for

Longleaf Ltd

Longleaf Ltd (Registered number: 01061046)






Contents of the Financial Statements
for the Year Ended 30 September 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Longleaf Ltd

Company Information
for the Year Ended 30 September 2024







DIRECTORS: Ms S Pennells
Ms J K Pennells





REGISTERED OFFICE: The Barn
11 Bury Road
Thetford
Norfolk
IP24 3PJ





REGISTERED NUMBER: 01061046 (England and Wales)





ACCOUNTANTS: Knights Lowe
The Barn
11 Bury Road
Thetford
Norfolk
IP24 3PJ

Longleaf Ltd (Registered number: 01061046)

Balance Sheet
30 September 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investments 4 164,516 190,566

CURRENT ASSETS
Debtors 5 163,840 247,139
Cash at bank 102,682 24,996
266,522 272,135
CREDITORS
Amounts falling due within one year 6 3,884 33,958
NET CURRENT ASSETS 262,638 238,177
TOTAL ASSETS LESS CURRENT LIABILITIES 427,154 428,743

PROVISIONS FOR LIABILITIES 7 - 468
NET ASSETS 427,154 428,275

CAPITAL AND RESERVES
Called up share capital 8 15,000 15,000
Retained earnings 412,154 413,275
SHAREHOLDERS' FUNDS 427,154 428,275

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 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.

Longleaf Ltd (Registered number: 01061046)

Balance Sheet - continued
30 September 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 March 2025 and were signed on its behalf by:





Ms S Pennells - Director


Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements
for the Year Ended 30 September 2024

1. STATUTORY INFORMATION

Longleaf Ltd 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 as modified by the revaluation of certain assets.

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

Investments in associates
Investments in associate undertakings are recognised at cost.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable, and loans from banks or other related parties.

(i) Financial assets

Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at market rate of interest.

(ii) Financial liabilities

Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts d

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.


Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

2. ACCOUNTING POLICIES - continued
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.

Impairment
At each reporting date, tangible fixed assets and investments are assessed to determine whether there is an indication that the carrying amount of an asset may be more than its recoverable amount and that the asset should be impaired. If there is an indication of possible impairment, the recoverable amount of an asset, which is the higher of its value in use and its net realisable value, is estimated and compared with its carrying amount. If the recoverable amount is lower, the carrying amount of the asset is written down to its estimated recoverable amount and an impairment loss is recognised in profit and loss.

Fixed asset investments
Fixed asset investments have been measured at fair value through a revaluation. The revaluation of investments has been measured as the difference between the historical cost of the investments and the market value at the balance sheet date.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 3 ) .

4. FIXED ASSET INVESTMENTS
Interest
in Other
associate investments Totals
£    £    £   
COST OR VALUATION
At 1 October 2023 200 190,366 190,566
Additions - 162,016 162,016
Disposals - (190,366 ) (190,366 )
Revaluations - 2,300 2,300
At 30 September 2024 200 164,316 164,516
NET BOOK VALUE
At 30 September 2024 200 164,316 164,516
At 30 September 2023 200 190,366 190,566

Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

4. FIXED ASSET INVESTMENTS - continued

Cost or valuation at 30 September 2024 is represented by:

Interest
in Other
associate investments Totals
£    £    £   
Valuation in 2024 - 2,300 2,300
Cost 200 162,016 162,216
200 164,316 164,516

If fixed asset investments had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 162,016 187,904

Fixed asset investments were valued on an open market basis on 30 September 2024 by Hubwise .

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 9,154 9,154
Other debtors 154,686 237,985
163,840 247,139

Included within Debtors is an amount due from group undertakings totalling £138,679 (2023 - £147,226).

Included within Other Debtors is an amount due from a connected party amounting to £nil (2023 - £63,552).

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 704 26,238
Other creditors 3,180 7,720
3,884 33,958

Included in Other Creditors is an amount due to a shareholder amounting to £nil (2023 - £5,770).

7. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Accelerated capital allowances - 468

Longleaf Ltd (Registered number: 01061046)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2024

7. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 October 2023 468
Provided during year (468 )
Balance at 30 September 2024 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number: Class: Nominal 2024 2023
value: £ £
6,900 Ordinary 'A' £1 6,900 6,900
6,600 Ordinary 'B' £1 6,600 6,600
500 Ordinary 'C' £1 500 500
500 Ordinary 'D' £1 500 500
500 Ordinary 'E' £1 500 500
15,000 15,000

9. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to directors subsisted during the years ended 30 September 2024 and 30 September 2023:

2024 2023
£    £   
Ms S Pennells
Balance outstanding at start of year 1,000 -
Amounts advanced - 1,000
Amounts repaid (1,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 1,000

Ms J K Pennells
Balance outstanding at start of year 10,000 -
Amounts advanced - 10,000
Amounts repaid (10,000 ) -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 10,000