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REGISTERED NUMBER: 11483793 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2024

FOR

JAMES LONGLEY PROPERTY LIMITED

JAMES LONGLEY PROPERTY LIMITED (REGISTERED NUMBER: 11483793)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


JAMES LONGLEY PROPERTY LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JULY 2024







Director: J R Longley





Registered office: 20 Allandale Road
Stoneygate
Leicester
LE2 2DA





Registered number: 11483793 (England and Wales)





Accountants: Haines Watts Leicester Limited
20 Allandale Road
Stoneygate
Leicester
LE2 2DA

JAMES LONGLEY PROPERTY LIMITED (REGISTERED NUMBER: 11483793)

BALANCE SHEET
31 JULY 2024

2024 2023
Notes £ £
Fixed assets
Tangible assets 4 - 200
Investments 5 972,126 775,206
Investment property 6 5,477,752 4,548,101
6,449,878 5,323,507

Current assets
Debtors 7 1,400,484 1,069,200
Cash at bank 105,217 1,080
1,505,701 1,070,280
Creditors
Amounts falling due within one year 8 (2,994,999 ) (2,604,939 )
Net current liabilities (1,489,298 ) (1,534,659 )
Total assets less current liabilities 4,960,580 3,788,848

Creditors
Amounts falling due after more than one
year

9

(4,855,181

)

(3,627,346

)
Net assets 105,399 161,502

Capital and reserves
Called up share capital 1 1
Retained earnings 105,398 161,501
105,399 161,502

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 July 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 July 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 28 April 2025 and were signed by:





J R Longley - Director


JAMES LONGLEY PROPERTY LIMITED (REGISTERED NUMBER: 11483793)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2024

1. STATUTORY INFORMATION

James Longley Property Limited 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.

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.

Going concern
The financial statements have been prepared on a going concern basis as the director has no intention of withdrawing his financial support. The company will therefore have sufficient funds to enable it to continue trading for at least one year from the date of signing the balance sheet.

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

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Computer equipment - 50% on cost

Investments in subsidiaries
Investments in subsidiary undertakings are recognised at cost.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2023 - 1 ) .

JAMES LONGLEY PROPERTY LIMITED (REGISTERED NUMBER: 11483793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

4. TANGIBLE FIXED ASSETS
Computer
equipment
£
Cost
At 1 August 2023
and 31 July 2024 1,555
Depreciation
At 1 August 2023 1,355
Charge for year 200
At 31 July 2024 1,555
Net book value
At 31 July 2024 -
At 31 July 2023 200

5. FIXED ASSET INVESTMENTS
Shares in
group Unlisted
undertakings investments Totals
£ £ £
Cost
At 1 August 2023 50 775,156 775,206
Additions - 411,107 411,107
Disposals - (214,187 ) (214,187 )
At 31 July 2024 50 972,076 972,126
Net book value
At 31 July 2024 50 972,076 972,126
At 31 July 2023 50 775,156 775,206

James Longley Property Ltd holds shares in The Lakes Distillery Company plc, a public but unlisted company registered in England and Wales. The holding totals less than 1% of the issued ordinary share capital and the cost related to this investment is £775,156.

During the year, James Longley Property Ltd invested in various unlisted investments totalling £118,531. The directors consider that the current fair value being shown is a true valuation of the portfolio.

6. INVESTMENT PROPERTY
Total
£
Fair value
At 1 August 2023 4,548,101
Additions 974,650
Disposals (44,999 )
At 31 July 2024 5,477,752
Net book value
At 31 July 2024 5,477,752
At 31 July 2023 4,548,101

JAMES LONGLEY PROPERTY LIMITED (REGISTERED NUMBER: 11483793)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JULY 2024

6. INVESTMENT PROPERTY - continued

At the year end the investment properties were valued by the director based on knowledge of local market conditions and the condition of the properties involved. In his opinion, the value included within the financial statements is the fair value.

The historical cost of investment properties held at the year end was £5,569,871 (2023: £4,548,101).

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Amounts owed by group undertakings 762,773 753,963
Other debtors 631,562 306,136
Prepayments and accrued income 6,149 9,101
1,400,484 1,069,200

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Bank loans 10,000 10,000
Trade creditors - 62
Tax 2,042 5,830
Other creditors 2,979,444 2,584,884
Accruals and deferred income 3,513 4,163
2,994,999 2,604,939

9. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£ £
Bank loans - 1-2 years 8,334 10,000
Bank loans - 2-5 years - 8,333
Mortgages 2,317,635 2,317,635
Directors' loan accounts 2,529,212 1,291,378
4,855,181 3,627,346

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Mortgages 2,317,635 2,317,635

10. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£ £
Mortgages 2,317,635 2,317,635

Mortgages are secured against the properties to which they relate.

11. RELATED PARTY DISCLOSURES

Included within other creditors are amounts loaned to the company by its director amounting to £2,529,212 (2023 : £1,291,378). These amounts are loaned interest free.