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Registered number: 01859882














LONGMILL REALTY LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

 
LONGMILL REALTY LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1 - 2
Notes to the Financial Statements
 
3 - 9


 
LONGMILL REALTY LIMITED
REGISTERED NUMBER:01859882

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
-
-

Investments
 5 
201
201

Investment property
 6 
1,408,854
4,908,854

  
1,409,055
4,909,055

Current assets
  

Debtors: amounts falling due within one year
 7 
10,736,392
9,114,020

Bank and cash balances
  
13,863
41,535

  
10,750,255
9,155,555

Current iabilities
  

Creditors: amounts falling due within one year
 8 
(7,026,395)
(6,801,839)

Net current assets
  
 
 
3,723,860
 
 
2,353,716

Total assets less current liabilities
  
5,132,915
7,262,771

Creditors: amounts falling due after more than one year
 9 
-
(1,703,154)

Provisions for liabilities
  

Deferred tax
 10 
-
(272,615)

Net assets
  
5,132,915
5,287,002


Capital and reserves
  

Called up share capital 
 11 
50,000
50,000

Profit and loss account
 12 
5,082,915
5,237,002

  
5,132,915
5,287,002


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

Page 1

 
LONGMILL REALTY LIMITED
REGISTERED NUMBER:01859882
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2024

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 3 to 9 form part of these financial statements.

Page 2

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

1.


General information

Longmill Realty Limited is a private limited liability company incorporated in England and Wales, with its business office address at 3rd Floor, 107 Jermyn Street, London SW1Y 6EE.
The principal activity of the Company is that of general investment and property investment.

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

Exemption from preparing consolidated financial statements

The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.

 
2.3

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.

 
2.4

Turnover

Turnover comprises rent receivable and services supplied 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. 
Turnover from services is recognised in the period to which it relates.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is provided on the following basis:

Fixtures and fittings
-
33%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Page 3

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

2.Accounting policies (continued)

 
2.6

Investment property

Investment property is carried at fair value determined annually 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 Income.

 
2.7

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.8

Debtors

Short term debtors are measured at the transaction price.

 
2.9

Cash and cash equivalents

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

 
2.10

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.

 
2.11

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is £ Sterling.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

 
2.12

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.

 
2.13

Borrowing costs

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

Page 4

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

2.Accounting policies (continued)

 
2.14

Dividends

Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

 
2.15

Pensions

Defined contribution pension plan
The Company contributes to a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.
The contributions are recognised as an expense in the Statement of Comprehensive Income when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in an independently administered funds.

 
2.16

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 7).

Page 5

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

4.


Tangible fixed assets





Fixtures and fittings

£



Cost


At 1 August 2023
111,235


Disposals
(111,235)



At 31 July 2024

-





At 1 August 2023
111,235


Disposals
(111,235)



At 31 July 2024

-



Net book value



At 31 July 2024
-



At 31 July 2023
-


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost


At 1 August 2023
201



At 31 July 2024
201

Page 6

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

6.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
4,908,854


Deficit on revaluation
(500,000)


Transfers intra group
(3,000,000)



At 31 July 2024
1,408,854

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
1,153,181
2,694,793


7.


Debtors

2024
2023
£
£

Trade debtors
8,352
2,755

Amounts owed by group undertakings
10,549,934
8,933,607

Other debtors
177,002
174,559

Prepayments and accrued income
1,104
3,099

10,736,392
9,114,020


Page 7

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

8.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
99,441
93,750

Taxation and social security
6,234
8,832

Other creditors
6,913,680
6,671,129

Accruals and deferred income
7,040
28,128

7,026,395
6,801,839



9.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Bank loans
-
1,703,154



10.


Deferred taxation




2024
2023


£

£



At beginning of year
272,615
272,615


Credited to profit or loss
(272,615)
-



At end of year
-
272,615

The deferred taxation balance is made up as follows:

2024
2023
£
£


Fair value adjustments
-
272,615


11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



50,000 (2023 - 50,000) Ordinary shares of £1 each
50,000
50,000


Page 8

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

12.


Reserves

Profit and loss account

Included in profit and loss reserves at the reporting date are non-distributable fair value adjustments of £255,673  (2023 - £1,941,446).


13.


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. 

 
Page 9