Company registration number 06533188 (England and Wales)
LONGSHIP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
PAGES FOR FILING WITH REGISTRAR
LONGSHIP LIMITED
CONTENTS
Page
Balance sheet
2
Notes to the financial statements
3 - 5
LONGSHIP LIMITED
ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF LONGSHIP LIMITED FOR THE YEAR ENDED 31 DECEMBER 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Longship Limited for the year ended 31 December 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com/regulation.
This report is made solely to the board of directors of Longship Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the financial statements of Longship Limited and state those matters that we have agreed to state to the board of directors of Longship Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Longship Limited and its board of directors as a body, for our work or for this report.
It is your duty to ensure that Longship Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Longship Limited. You consider that Longship Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of Longship Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Scrutton Bland Limited
24 June 2025
Chartered Accountants
Fitzroy house
Crown Street
Ipswich
Suffolk
IP1 3LG
LONGSHIP LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2024
31 December 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
478,093
478,093
Current assets
Debtors
4
21
21
Cash at bank and in hand
5
21
26
Creditors: amounts falling due within one year
6
(38,622)
(36,613)
Net current liabilities
(38,601)
(36,587)
Net assets
439,492
441,506
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
439,392
441,406
Total equity
439,492
441,506
The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true
The director considers 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 director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
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 were approved and authorised for issue by the board of directors and authorised for issue on
24 June 2025
24 June 2025
and are signed on its behalf by:
Mr David Long
Director
Company registration number 06533188 (England and Wales)
LONGSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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1
Accounting policies
Company information
Longship Limited is a private company limited by shares incorporated in England and Wales. The registered office is Yachtmaster, Bonds Road, Tivetshall St. Mary, Norwich, Norfolk, England, NR15 2BX.
1.1
Reporting period
The reporting period end date had been changed from 31 March to 31 December, therefore a 9 month period of account had been prepared for the prior year. Due to this the comparative amounts presented in the financial statements are not entirely comparable to the prior period.
1.2
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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The presentational currency is pound sterling rounded to the neared £1.
The following principal accounting policies have been applied:
1.3
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.
1.4
Going concern
The financial statements have been prepared on a going concern basis.true
The directors have a reasonable expectation that the Group has adequate resources to continue in operational existence for the foreseeable future.
1.5
Valuation of investments
Investments in subsidiaries are measured at cost less accumulated impairment
1.6
Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment
1.7
Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
LONGSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
1
Accounting policies
(Continued)
- 4 -
1.8
Financial instruments
The company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
1
2
3
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
478,093
478,093
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
21
21
5
Cash and cash equivalents
2024
2023
£
£
Cash at bank and in hand
-
5
6
Creditors: amounts falling due within one year
2024
2023
£
£
Amounts owed to group undertakings
36,613
33,925
Other creditors
2,009
2,688
38,622
36,613
LONGSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2024
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7
Controlling party
The company was under the control of Noble Insurance Group Ltd throughout the period, a company registered in England and Wales and controlled by Mr H Arundel.