Longcap Developments Limited - Limited company - abbreviated - 11.0.0

REGISTERED NUMBER: 03870615 (England and Wales)

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 30 NOVEMBER 2013

FOR

LONGCAP DEVELOPMENTS LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

D A Long

S M Caple

SECRETARY:

D A Long

REGISTERED OFFICE:

91/93 Alma Road

Clifton

Bristol

BS8 2DP

REGISTERED NUMBER:

03870615 (England and Wales)

ACCOUNTANTS:

Bryan Stone & Co.

Chartered Certified Accountants

91-93 Alma Road

Clifton

Bristol

BS8 2DP

BANKERS:

Allied Irish Bank GB

19 Whiteladies Road

Clifton

Bristol

BS8 1PD

FIXED ASSETS

Tangible assets

2

7,108

9,479

Investment property

3

4,600,000

4,320,401

4,607,108

4,329,880

CURRENT ASSETS

Debtors

4,234

27,309

Cash at bank

604

74,636

4,838

101,945

CREDITORS

Amounts falling due within one year

4

239,053

239,369

NET CURRENT LIABILITIES

(234,215

)

(137,424

)

TOTAL ASSETS LESS CURRENT LIABILITIES

4,372,893

4,192,456

CREDITORS

Amounts falling due after more than one year

4

1,975,014

2,057,278

NET ASSETS

2,397,879

2,135,178

CAPITAL AND RESERVES

Called up share capital

5

202

202

Revaluation reserve

557,510

307,531

Profit and loss account

1,840,167

1,827,445

SHAREHOLDERS' FUNDS

2,397,879

2,135,178

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 November 2013.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 November 2013 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 26 August 2014 and were signed on its behalf by:

S M Caple - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller Entities

(effective April 2008).

Turnover

Turnover represents the sale of property and sundry income received during the year.

Other operating income represents commercial and residential rental income due.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

To comply with FRSSE, the company has departed from the Companies Act 1985 in order to give a true

and fair view of the investment property valuation.

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the

balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 1 December 2012

and 30 November 2013

18,880

DEPRECIATION

At 1 December 2012

9,401

Charge for year

2,371

At 30 November 2013

11,772

NET BOOK VALUE

At 30 November 2013

7,108

At 30 November 2012

9,479

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 December 2012

4,320,401

Additions

29,620

Revaluations

249,979

At 30 November 2013

4,600,000

NET BOOK VALUE

At 30 November 2013

4,600,000

At 30 November 2012

4,320,401

4.

CREDITORS

Creditors include an amount of £ 2,046,327 (30/11/12 - £ 2,117,639 ) for which security has been given.

They also include the following debts falling due in more than five years:

30/11/13

30/11/12

£

£

Repayable by instalments

1,689,759

100,553

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

30/11/13

30/11/12

value:

£

£

202

Ordinary

£1

202

202