REGISTERED NUMBER: 09053392 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2024

FOR

LONGTHORNE PROPERTIES LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr J A Stewart

Mrs E A Stewart

REGISTERED OFFICE:

Longthorne House

1 Millbrook Close

Northampton

NN5 5JF

REGISTERED NUMBER:

09053392 (England and Wales)

ACCOUNTANTS:

Cube Partners Limited

Chartered Accountants

5 Giffard Court

Millbrook Close

Northampton

Northamptonshire

NN5 5JF

FIXED ASSETS

Investment property

4

700,504

700,504

CURRENT ASSETS

Cash at bank and in hand

23,260

25,467

CREDITORS

Amounts falling due within one year

5

360,639

360,763

NET CURRENT LIABILITIES

(337,379

)

(335,296

)

TOTAL ASSETS LESS CURRENT LIABILITIES

363,125

365,208

CREDITORS

Amounts falling due after more than one year

6

183,005

218,037

NET ASSETS

180,120

147,171

CAPITAL AND RESERVES

Called up, fully paid share capital

100

100

Fair value reserve

22,976

22,976

Retained earnings

157,044

124,095

180,120

147,171

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 25 September 2025 and were signed on its behalf by:

Mrs E A Stewart - Director

1.	STATUTORY INFORMATION

Longthorne Properties 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.

The presentation currency of the financial statements is the Pound Sterling (£).

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.

Significant judgements and estimates

In the application of the company's accounting policies, the directors are required to make judgments, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of revision and future periods where the revision affects both current and future periods.

Turnover

Turnover relates to rental income and is measured at the fair value of consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Revenue from rental income is recognised on an accrual basis in respect of the period to which it relates. Rental income received for future periods is recognised as deferred income.

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.

Financial instruments

Cash and cash equivalents in the balance sheet comprise cast at banks and in hand and short term deposits with an original maturity date of three months or less.

Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the statement of comprehensive income and under administrative expenses.

Financial liabilities and equity instruments are classified 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 entity after deducting all of its financial liabilities.

Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are presented as such in the balance sheet. Finance costs and gains or losses relating to financial liabilities are included in the profit and loss account. Finance costs are calculated so as to produce a constant rate of return on the outstanding liability.

Where the contractual terms of share capital do not have any terms meeting the definition of a financial liability then this is classed as an equity instrument. Dividends and distributions relating to equity instruments are debited direct to equity.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 January 2024

and 31 December 2024

700,504

NET BOOK VALUE

At 31 December 2024

700,504

At 31 December 2023

700,504

Fair value at 31 December 2024 is represented by:

£

Valuation in 2017

28,020

Cost

672,484

700,504

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

£

Bank loans and overdrafts

32,096

32,096

Taxation and social security

10,604

10,806

Other creditors

317,939

317,861

360,639

360,763

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

£

Bank loans

183,005

218,037

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

44,621

79,653

7.	SECURED DEBTS

The following secured debts are included within creditors:

2024

2023

£

£

Bank loans

215,101

250,133

There are two charges created 26 February 2015 and 4 March 2015 in favour of The Royal Bank of Scotland. These contain a fixed and floating charge over the assets of the company.

8.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the directors £140,000 (2023: £140,000). This loan is interest free. There are no fixed repayment terms.