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Registered number: 07902534














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

 
LONGMILL RICKBOST LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
1
Notes to the Financial Statements
 
2 - 6


 
LONGMILL RICKBOST LIMITED
REGISTERED NUMBER:07902534

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
11,920,000
8,920,000

Current assets
  

Debtors: amounts falling due within one year
 5 
134,760
3,836,217

Bank and cash balances
  
15,059
31,382

  
149,819
3,867,599

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(3,380,986)
(5,866,482)

Net current liabilities
  
 
 
(3,231,167)
 
 
(1,998,883)

Total assets less current liabilities
  
8,688,833
6,921,117

Creditors: amounts falling due after more than one year
 7 
(7,893,258)
(6,029,272)

Provisions for liabilities
  

Deferred tax
 8 
(64,534)
(64,534)

Net assets
  
731,041
827,311


Capital and reserves
  

Called up share capital 
 9 
100
100

Profit and loss account
 10 
730,941
827,211

  
731,041
827,311


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 6 form part of these financial statements.
Page 1

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

1.


General information

Longmill Rickbost Limited is a private limited liability company incorporated in England & Wales, with its registered office 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 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.

 
2.5

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 RICKBOST 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

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss 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, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.




3.


Employees

The directors were the only employees of the Company during the current and preceding period.
 
Page 3

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

4.


Investment property


Freehold investment property

£



Valuation


At 1 August 2023
8,920,000


Transfers intra group
3,000,000



At 31 July 2024
11,920,000

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

In the opinion of the directors, there was no material change in the value of the investment properties since the last financial year.



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
11,579,003
8,579,003


5.


Debtors

2024
2023
£
£

Trade debtors
24,335
21,702

Amounts owed by group undertakings
-
3,737,883

Prepayments
110,425
76,632

134,760
3,836,217


Page 4

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

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
42,072
59,351

Trade creditors
33,195
35,187

Amounts owed to group undertakings
3,068,641
5,543,321

Taxation and social security
5,603
15,343

Other creditors
147,914
122,325

Accruals and deferred income
83,561
90,955

3,380,986
5,866,482


Secured loans
The Company's bank facilities are secured by a first charge on the 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
7,893,258
6,029,272


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


8.


Deferred taxation




2024


£



At beginning of year
64,534



At end of year
64,534

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Fair value adjustments
64,534
64,534

Page 5

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

9.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



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



10.


Reserves

Profit and loss account

At the reporting date, the Company had accumulated reserves of £731,041 (2023 - £827,311), of which £276,463 (2023 - £276,463) are not distributable.


11.Directors' personal guarantees

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


12.


Related party transactions

The Company has taken advantage of the exemption under FRS 102 S33.1A Related Party Disclosured not to disclose transactions entered into between two or more members of a group, provided that any subsidiary underaking which is a party to the transactions is wholly owned by a member of that group.


13.


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.


14.


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 6