L B Longley Investments Limited - Accounts to registrar (filleted) - small 23.1.2

REGISTERED NUMBER: 00553694 (England and Wales)

L B LONGLEY INVESTMENTS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2022

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J T Hakim

R Hakim

N A Longley

SECRETARY:

J T Hakim

REGISTERED OFFICE:

Seaview

Mount Way

Lancing

Sussex

BN15 0QD

REGISTERED NUMBER:

00553694 (England and Wales)

ACCOUNTANTS:

Hakim Fry

Chartered Accountants

69-71 East Street

Epsom

Surrey

KT17 1BP

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Tangible assets

5

7,191,832

7,470,469

CURRENT ASSETS

Debtors

6

51,100

4,441

Cash at bank

526,338

204,297

577,438

208,738

CREDITORS

Amounts falling due within one year

7

26,948

44,941

NET CURRENT ASSETS

550,490

163,797

TOTAL ASSETS LESS CURRENT LIABILITIES

7,742,322

7,634,266

PROVISIONS FOR LIABILITIES

971,774

1,011,854

NET ASSETS

6,770,548

6,622,412

CAPITAL AND RESERVES

Called up share capital

5

5

Other reserves

156,739

156,739

Retained earnings

6,613,804

6,465,668

SHAREHOLDERS' FUNDS

6,770,548

6,622,412

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2022 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 19 April 2023 and were signed on its behalf by:

J T Hakim - Director

R Hakim - Director

1.	STATUTORY INFORMATION

L B Longley Investments 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.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rents receivable during the year.

Tangible fixed assets

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

Plant and machinery etc

-

25% on reducing balance and 10% on reducing balance

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Investments

Investments held as fixed assets are shown at market value less provision for impairment.

Investment properties

Investment properties are revalued annually. Surpluses or deficits on individual properties are recognised in the income statement. Deferred taxation is provided on these properties at the rate expected to apply when the property is sold.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2021 - 4 ) .

5.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST OR VALUATION

At 1 November 2021

7,455,000

146,008

7,601,008

Additions

-

6,938

6,938

Disposals

(390,000

)

-

(390,000

)

Revaluations

110,000

-

110,000

At 31 October 2022

7,175,000

152,946

7,327,946

DEPRECIATION

At 1 November 2021

-

130,539

130,539

Charge for year

-

5,575

5,575

At 31 October 2022

-

136,114

136,114

NET BOOK VALUE

At 31 October 2022

7,175,000

16,832

7,191,832

At 31 October 2021

7,455,000

15,469

7,470,469

Cost or valuation at 31 October 2022 is represented by:

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

Valuation in 2013

4,354,061

-

4,354,061

Valuation in 2014

232,178

-

232,178

Valuation in 2015

292,220

-

292,220

Valuation in 2016

(200,179

)

-

(200,179

)

Valuation in 2017

365,771

-

365,771

Valuation in 2018

236,547

-

236,547

Valuation in 2019

(40,545

)

-

(40,545

)

Valuation in 2020

35,027

-

35,027

Valuation in 2021

35,000

-

35,000

Valuation in 2022

(212,312

)

-

(212,312

)

Cost

2,077,232

152,946

2,230,178

7,175,000

152,946

7,327,946

If freehold property had not been revalued they would have been included at the following historical cost:

31.10.22

31.10.21

£

£

Cost

2,077,232

2,144,920

Investment properties were valued on current market indices basis on 31 October 2022 by Mr J Hakim, a director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Other debtors

51,100

4,441

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.10.22

31.10.21

£

£

Taxation and social security

6,849

11,254

Other creditors

20,099

33,687

26,948

44,941

8.	RELATED PARTY DISCLOSURES

No individual had overall control of the company during the year or in the previous year.

No transactions with related parties were undertaken in the current or previous year such as are required to be disclosed.