Longcrest Systems Limited - Filleted accounts

Registered number

03659582

Longcrest Systems Limited

Filleted Accounts

31 October 2024

Longcrest Systems Limited
Registered number:		03659582
Balance Sheet
as at 31 October 2024

Notes			2024			2023
£				£
Fixed assets
Tangible assets	3		1,097			1,462

Current assets
Debtors	4	11,755			22,028
Cash at bank and in hand		27,382			60,773
		39,137			82,801

Creditors: amounts falling due within one year	5	(11,769)			(8,211)

Net current assets			27,368			74,590

Net assets			28,465			76,052

Capital and reserves
Called up share capital			100			100
Profit and loss account			28,365			75,952

Shareholders' funds			28,465			76,052

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Mr Ian Smedley
Director
Approved by the board on 31 March 2025

Longcrest Systems Limited
Notes to the Accounts
for the year ended 31 October 2024


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Plant and machinery	25% on a reducing balance
	Motor vehicles	25% on a reducing balance

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Pensions
	Contributions to defined contribution plans are expensed in the period to which they relate.


2	Employees			2024		2023
Number					Number

	Average number of persons employed by the company			2		2


3	Tangible fixed assets
		Plant and machinery etc		Motor vehicles		Total
£			£		£
	Cost
	At 1 November 2023	14,688		14,133		28,821
	At 31 October 2024	14,688		14,133		28,821

	Depreciation
	At 1 November 2023	13,673		13,686		27,359
	Charge for the year	253		112		365
	At 31 October 2024	13,926		13,798		27,724

	Net book value
	At 31 October 2024	762		335		1,097
	At 31 October 2023	1,015		447		1,462


4	Debtors			2024		2023
£					£

	Trade debtors			11,755		14,400
	Other debtors			-		7,628
				11,755		22,028


5	Creditors: amounts falling due within one year			2024		2023
£					£

	Taxation and social security costs			2,878		3,307
	Other creditors			8,891		4,904
				11,769		8,211


6	Controlling party

	The company is under the joint control of the Directors, Ian Smedley and Katherine Smedley by virtue of their shareholdings


7	Other information

	Longcrest Systems Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Park Lane House
	7 Park Lane Sutton Benger
	Chippenham
	Wiltshire
	SN15 4RN