REGISTERED NUMBER: 07088770 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2025

FOR

LONGFORD INVESTMENT (NO 2) LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J Gwillim-David

Longford Investment Limited

SECRETARY:

Longford Investment Limited

REGISTERED OFFICE:

Merlin House

Charnham Lane

Hungerford

Berkshire

RG17 0EY

REGISTERED NUMBER:

07088770 (England and Wales)

ACCOUNTANTS:

Thorne Lancaster Parker

5th Floor

Palladium House

1-4 Argyll Street

London

W1F 7TA

FIXED ASSETS

Investment property

4

3,725,000

3,250,000

CURRENT ASSETS

Debtors

5

56,985

75,959

Cash at bank

267,429

207,461

324,414

283,420

CREDITORS

Amounts falling due within one year

6

(130,866

)

(161,043

)

NET CURRENT ASSETS

193,548

122,377

TOTAL ASSETS LESS CURRENT LIABILITIES

3,918,548

3,372,377

CREDITORS

Amounts falling due after more than one year

7

(2,959,465

)

(2,942,276

)

PROVISIONS FOR LIABILITIES

(115,976

)

-

NET ASSETS

843,107

430,101

CAPITAL AND RESERVES

Called up share capital

9

830

830

Retained earnings

10

842,277

429,271

SHAREHOLDERS' FUNDS

843,107

430,101

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 9 September 2025 and were signed on its behalf by:

J Gwillim-David - Director

1.	STATUTORY INFORMATION

Longford Investment (No 2) 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 as modified by the revaluation of certain assets.

Turnover

Turnover represents the total amount receivable, net of value added tax, for services provided in the ordinary course of business.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the income statement and transferred to Investment property revaluation reserve in the statement of changes in equity.

Financial instruments

The company has chosen to adopt Section 11 of FRS 102 in respect of financial instruments as it has only basic financial instruments.

a) Basic financial assets

Trade and other debtors, loans to fellow group companies, loans to related companies and bank balances, which are due within one year are initially recognised at transaction price and subsequently carried at amortised cost being the transaction price less any amounts settled and any impairment losses.

At the end of each reporting period basic financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment was recognised the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.

A financial asset is derecognised only when the contractual rights to cash flows expire or are settled, or substantially all the risks and rewards of ownership are transferred to another party, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to seel the asset in its entirety to an unrelated third party.

b) Basic financial liabilities and equity

Financial liabilities are classified as liabilities and equity instruments according to the substance of the contractual arrangements entered into. an equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Trade creditors, other creditors and loans from fellow group and related companies are initially recognised at transaction price and subsequently carried at amortised cost, being transaction price less any amounts settled.

Other loans are initially recognised at the transaction price, including transaction costs and subsequently measured at amortised cost using the effective interest method. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and other similar charges.

Basic financial liabilities are derecognised when the contractual obligation is discharged, cancelled or expired.

c) Equity instruments

The ordinary share capital of the company is classified as equity and recorded at fair value of the cash or other resources received pr receivable, net of direct costs of issuing the equity instruments.

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 (2024 - 1 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

3,250,000

Revaluations

475,000

At 31 March 2025

3,725,000

NET BOOK VALUE

At 31 March 2025

3,725,000

At 31 March 2024

3,250,000

A valuation of investment property was carried out during the year by Savills.

Fair value at 31 March 2025 is represented by:

£

Valuation in 2020

(11,094

)

Valuation in 2025

475,000

Cost

3,261,094

3,725,000

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Trade debtors

42,780

65,083

Other debtors

830

830

Prepayments and accrued income

13,375

10,046

56,985

75,959

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Bank loans and overdrafts

-

15,663

Trade creditors

15,003

8,971

Tax

8,522

3,170

Social security and other taxes

21,291

28,224

Other creditors

8,512

9,776

Accruals and deferred income

77,538

95,239

130,866

161,043

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2025

2024

£

£

Bank loans - 1-2 years

-

17,064

Bank loans - 2-5 years

1,405,283

1,392,420

Other loans - 2-5 years

1,093,106

1,135,506

Other creditors

158,451

147,661

Accruals and deferred income

302,625

249,625

2,959,465

2,942,276

8.	SECURED DEBTS

Bank loans:

A bank loan of £1,405,284 is secured by way of a first legal mortgage over the freehold property. Interest is charged at 2.85% above the BoE base rate and is payable monthly. The loan is to be repaid at the end of the term on 26th January 2030.

Other loans:

Loan 1 of £940,614 is secured by way of a legal mortgage over the freehold property. Loan 2 of £152,492 is secured by way of legal mortgage charge over the freehold property. A loan of £117,414 from Longford Investment (No.1) Ltd is secured by way of legal mortgage over the freehold property.

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

830

Ordinary

£1

830

830

10.

RESERVES

Within retained earnings, there is an amount of £347,930 in relation to the revaluation surplus on the company's investment properties net of deferred tax provision. This amount does not form part of the company's distributable reserves.

11.	RELATED PARTY DISCLOSURES

During the year the company was charged £82,455 (2024: £81.510) for services provided in the ordinary course of business by Longford Investment Ltd, a company under common control of the director. The balance due to Longford Investment Ltd at the year end was £14,123 (2024: £7,597).

The company has a loan from Longford Investment (No.1) Ltd, a company under common control of the director. The balance due at the year end was £117,414 (2024: £117,414).

At the balance sheet date included within creditors is an amount owed to the director J Gwillim-David of £1,093,106 (2024: £1,135,506). Interest is charged on this amount at open market rates

12.	ULTIMATE CONTROLLING PARTY

The controlling party is J Gwillim-David.