Registration number: 07110544

Longshot Ventures Ltd

(Registration number: 07110544)
Balance Sheet as at 31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	4,578	5,286
Current assets
Stocks	5	2,084	2,089
Debtors	6	600	860
Cash at bank and in hand		7,161	9,415
		9,845	12,364
Creditors: Amounts falling due within one year	7	(140,532)	(143,106)
Net current liabilities		(130,687)	(130,742)
Net liabilities		(126,109)	(125,456)
Capital and reserves
Called up share capital	8	100	100
Retained earnings		(126,209)	(125,556)
Shareholders' deficit		(126,109)	(125,456)

For the financial year ending 31 December 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2025
 

......................................... T Ramoutar Director

Longshot Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Second Floor
1 Church Terrace
Richmond
Surrey
TW10 6SE
United Kingdom

These financial statements were authorised for issue by the director on 26 September 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis. The director considers this appropriate, notwithstanding the deficiency of net assets, as the company's operations are funded by a balance due to the director which he does not intend to withdraw in the foreseeable future.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

Tangible assets

Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Office equipment	25% straight line
Land and buildings	4% straight line

Longshot Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3	Staff numbers

The average number of persons employed by the company (including the director) during the year was 0 (2023 - 0).

4	Tangible assets

	Land and buildings £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	7,627	1,614	9,241
At 31 December 2024	7,627	1,614	9,241
Depreciation
At 1 January 2024	2,745	1,210	3,955
Charge for the year	305	403	708
At 31 December 2024	3,050	1,613	4,663
Carrying amount
At 31 December 2024	4,577	1	4,578
At 31 December 2023	4,882	404	5,286

Included within the net book value of land and buildings above is £4,577 (2023 - £4,882) in respect of freehold land and buildings.
 

5

Stocks

	2024 £	2023 £
Finished goods and goods for resale	2,084	2,089

Longshot Ventures Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2024

6

Debtors

Current	2024 £	2023 £
Trade debtors	600	860
	600	860

7

Creditors

Creditors: amounts falling due within one year

	2024 £	2023 £
Due within one year
Accruals and deferred income	563	563
Other creditors	139,969	142,543
	140,532	143,106

8	Share capital

Allotted, called up and fully paid shares

	2024		2023
	No.	£	No.	£
Ordinary shares of £1 each	100	100	100	100