110 LONGFELLOW LTD


Directors	ADAMS, David James
	SEARLE, Krystyna Grace


Registered Address	C/O Business Waste Artemis House
	Eboracum Way
	York
	YO31 7RE


Registered Number	09693210 (England and Wales)

Notes to the Financial Statements
for the year ended 31 December 2024

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention, modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value.

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £1.

	Going concern
	After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis of accounting in preparing its financial statements.

	Turnover policy
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services.

	Current taxation
	Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in profit or loss, except for taxes related to revaluations of land and buildings which are recognised in other comprehensive income.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Intangible assets
	Intangible assets are stated at cost less accumulated amortisation and accumulated impairment losses. The assets are reviewed for impairment if the above factors indicate that the carrying amount may be impaired. Amortisation is included in 'administrative expenses' in the profit and loss account.

	Amortisation
	Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Website 33% straight line

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows


		Straight line (years)
	Fixtures and fittings	3

	Impairment of non-financial assets policy
	Assets which are not carried at fair value are reviewed for evidence of impairment at each reporting date. Where the asset is showing indicators of impairment, the recoverable amount of the asset, is estimated and then compared to the carrying value in the financial statements. Where the carrying amount is in excess of recoverable amount, an impairment loss is recognised in profit or loss.

	Investments
	Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

Investments

Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.

	Investment property
	The investment property is accounted for under FRS 102, Section 16 Investment Property. Investment property is remeasured to fair value at each balance sheet date with fair value gains and losses being reported in profit or loss. Investment properties are valued using RICS open market valuation on a freehold basis.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately.

	Financial instruments
	A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment. Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment.

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at transaction price and measured at amortised cost using the effective interest method. Where investments in non-derivative financial instruments are publicly traded, or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value through profit and loss. All other investments are subsequently measured at cost less impairment.

Financial assets which are measured at cost or amortised cost are reviewed for objective evidence of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. All equity instruments, regardless of significance, and other financial assets that are individually significant, are assessed individually for impairment. 

2.	Average number of employees


		2024		2023
	Average number of employees during the year	2		2

3.	Intangible assets

	Other	Total
	£	£
Cost or valuation
At 01 January 24	1,386	1,386
At 31 December 24	1,386	1,386
Amortisation and impairment
At 01 January 24	1,386	1,386
At 31 December 24	1,386	1,386
Net book value
At 31 December 24	-	-
At 31 December 23	-	-

4.	Tangible fixed assets

	Fixtures & fittings	Total
	£	£
Cost or valuation
At 01 January 24	53,213	53,213
Additions	6,708	6,708
At 31 December 24	59,921	59,921
Depreciation and impairment
At 01 January 24	44,882	44,882
Charge for year	5,150	5,150
At 31 December 24	50,032	50,032
Net book value
At 31 December 24	9,889	9,889
At 31 December 23	8,331	8,331

5.	Investment property
	The fair values of investment properties at 31 December 2024 have been arrived at on the basis of valuations carried out by the directors. The valuations were made on an open market value basis by reference to market evidence of transaction prices for similar properties. The directors believe there have been no material changes to their market value since the date of valuation.


		£
	Fair value at 01 January 24	1,135,990
	At 31 December 24	1,135,990

6.	Debtors: amounts due within one year

	2024	2023
	£	£
Trade debtors / trade receivables	2,415	3,333
Other debtors	6,236	4,861
Total	8,651	8,194

7.	Debtors: amounts due after one year

	2024	2023
	£	£
Deferred tax asset, debtors	42,370	-
Total	42,370	-

8.	Creditors: amounts due within one year

	2024	2023
	£	£
Trade creditors / trade payables	18,231	1,966
Bank borrowings and overdrafts	41,805	43,582
Amounts owed to related parties	134,538	27,146
Taxation and social security	6,634	15,696
Other creditors	29,727	160,487
Total	230,935	248,877


	Bank loans of £41,805 (2023 - £43,582) are secured over the assets of the company.

9.	Creditors: amounts due after one year

	2024	2023
	£	£
Bank borrowings and overdrafts	364,509	354,031
Other creditors	13,774	26,582
Total	378,283	380,613


	Bank loans and overdrafts of £364,509 (2023 - £354,031) are secured over the assets of the company.

10.	Fair value reserve
	Included within retained earnings are unrealised profits of £150,491 (2023 - £150,491) which relate to cumulative fair value gains made on investment properties, net of deferred tax provided thereon. As these gains are unrealised, they are not permitted to be distributed to shareholders.

	Notes	2024		2023
		£	£	£	£
Fixed assets
Tangible assets	4		9,889		8,331
Investment property	5		1,135,990		1,135,990
			1,145,879		1,144,321
Current assets
Debtors	6,7	51,021		8,194
Cash at bank and on hand		9,745		18,574
		60,766		26,768
Creditors amounts falling due within one year	8	(230,935)		(248,877)
Net current assets (liabilities)			(170,169)		(222,109)
Total assets less current liabilities			975,710		922,212
Creditors amounts falling due after one year	9		(378,283)		(380,613)
Provisions for liabilities			(38,150)		(52,300)
Net assets			559,277		489,299
Capital and reserves
Called up share capital			100		100
Profit and loss account			559,177		489,199
Shareholders' funds	10		559,277		489,299