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Registered number: 10567956














LONGMILL DEXTER LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

 
LONGMILL DEXTER LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 5


 
LONGMILL DEXTER LIMITED
REGISTERED NUMBER:10567956

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
12,079,599
12,014,101

Current assets
  

Debtors: amounts falling due within one year
 5 
72,956
61,318

Bank and cash balances
  
3,845
30,671

  
76,801
91,989

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(12,491,382)
(6,710,200)

Net current liabilities
  
 
 
(12,414,581)
 
 
(6,618,211)

Total assets less current liabilities
  
(334,982)
5,395,890

Creditors: amounts falling due after more than one year
 7 
-
(5,607,251)

  

Net liabilities
  
(334,982)
(211,361)


Capital and reserves
  

Called up share capital 
 8 
100
100

Profit and loss account
  
(335,082)
(211,461)

  
(334,982)
(211,361)


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 comprehensive income 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 on 24 April 2025.



V G Jeyabavan
Director

The notes on pages 2 to 5 form part of these financial statements.
Page 1

 
LONGMILL DEXTER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1.


General information

Longmill Dexter Limited is a private limited liability company incorporated in England and Wales, with its registered and business office address at 3rd Floor, 107 Jermyn Street, London SW1Y 6EE.
The principal activity of the Company is that of property investment.
The Company's functional and presentational currency is £ Sterling.

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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

The financial statements of the Company have been prepared on a going concern basis, the validity of which is dependant on the continued support of the directors and the other related party creditors of the business. The directors are satisfied that suitable facilities will continue to be made available for at least twelve months from the date of their approval of these financial statements and that the Company will be able to meet its working capital requirements for the foreseeable future.

 
2.3

Turnover

Turnover comprises rent receivable exclusive of Value Added Tax.
Rental income is recognised in the period to which it relates. Rental income received in advance is carried forward as deferred income.

 
2.4

Investment property

Investment property is carried at fair value determined by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of comprehensive iIncome.

 
2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

 
2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

 
2.7

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 2

 
LONGMILL DEXTER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

2.Accounting policies (continued)

 
2.8

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

 
2.9

Borrowing costs

All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

 
2.10

Taxation

Tax is recognised in the Statement of Comprehensive Income 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.
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 income.


3.


Employees

The directors were the only employees of the Company during the current and preceding year.



4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
12,014,101


Additions at cost
65,498



At 31 July 2024
12,079,599

The 2024 valuations were made by the directors, on an open market value for existing use basis.



If the investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
12,624,574
12,559,076

Page 3

 
LONGMILL DEXTER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

5.


Debtors

2024
2023
£
£

Trade debtors
31,203
23,926

Prepayments and accrued income
41,753
37,392

72,956
61,318



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
5,852,071
468,066

Trade creditors
81,292
47,317

Amounts owed to group undertakings
6,426,350
6,055,098

Taxation and social security
7,435
4,726

Other creditors
51,314
40,761

Accruals and deferred income
72,920
94,232

12,491,382
6,710,200


Secured loans
The Company's bank facilities are secured by a first charge on all investment properties, all rents and other income and a debenture over the assets of the Company.


7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
5,607,251


Secured loans
The Company's bank facilities are secured by a first charge on all investment properties, all rents and other income and a debenture over the assets of the Company.

Page 4

 
LONGMILL DEXTER LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

8.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Ordinary shares of £1 each
100
100



9.Directors' personal guarantees

D Yamin-Joseph has given a personal guarantee as security for the Company's bank facilities.


10.


Related party transactions

The Company has taken advantage of the exemption under FRS102 33.1A Related Party Disclosures not to disclose transactions entered into between two or more members of a group, provided that any subsidiary undertaking which is a party to the transaction is wholly owned by a member of that group.


11.


Controlling party

The Company is a wholly owned subsidiary of Longmill Realty Limited, a company registered in England and Wales. The ultimate controlling party is D Yamin-Joseph, who is a director and the controlling shareholder of Longmill Realty Limited.


12.


Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2024 was unqualified.

The audit report was signed on 24 April 2025 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

 
Page 5