Longhold Investments Ltd - Accounts to registrar (filleted) - small 23.1.2
Longhold Investments Ltd - Accounts to registrar (filleted) - small 23.1.2
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| FOR |
| LONGHOLD INVESTMENTS LTD |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 4 |
| LONGHOLD INVESTMENTS LTD |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Certifed Accountants |
| Solar House |
| 282 Chase Road |
| London |
| N14 6NZ |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| BALANCE SHEET |
| 31 MARCH 2022 |
| 31.3.22 | 31.3.21 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| Investments | 5 |
| Investment property | 6 |
| CURRENT ASSETS |
| Stocks | 7 |
| Debtors | 8 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 9 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year |
10 |
( |
) |
( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital | 12 |
| Fair value reserve |
| Retained earnings |
| SHAREHOLDERS' FUNDS |
| 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. |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| BALANCE SHEET - continued |
| 31 MARCH 2022 |
| 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 |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 1. | STATUTORY INFORMATION |
| Longhold Investments Ltd is a |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going Concern |
| The directors of the company continually assess the impact of COVID 19 and review their plans and forecasts as the situation evolves. |
| At the time of approving the financial statements the directors have 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 the financial statements. |
| Turnover |
| Turnover represents amounts derived from the gross proceeds from the sale of developed properties to customers and rents charged to tenants during the year. |
| Tangible fixed assets |
| Plant and machinery | - |
| Fixtures and fittings | - |
| Government grants |
| Government grants represents income received in the form of the Job Retention Scheme (JRS) received from the Government during the COVID-19 pandemic. |
| The grants are recognised on the accruals basis in the same period as the expenditure that it is intended to compensate. |
| 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. |
| Stocks |
| Contracts where the work is expected to extend for a period exceeding one year, are valued at cost plus attributable profit less any foreseeable losses. Attributable profit is that amount which is estimated to reflect fairly the profit arising on the current contracts up to the balance sheet date. Foreseeable losses are those, which are currently estimated to arise over the duration of existing contracts after taking into account costs, including appropriate overheads to be incurred in the future. |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 2. | ACCOUNTING POLICIES - continued |
| 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. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and |
| machinery | fittings | Totals |
| £ | £ | £ |
| COST |
| At 1 April 2021 |
| Additions |
| At 31 March 2022 |
| DEPRECIATION |
| At 1 April 2021 |
| Charge for year |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 5. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| £ |
| COST |
| At 1 April 2021 |
| and 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| 6. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 1 April 2021 |
| Additions |
| At 31 March 2022 |
| NET BOOK VALUE |
| At 31 March 2022 |
| At 31 March 2021 |
| Fair value at 31 March 2022 is represented by: |
| £ |
| Valuation in 2015 | 769,821 |
| Valuation in 2016 | 37,059 |
| Valuation in 2017 | 907,882 |
| Valuation in 2019 | 301,929 |
| Valuation in 2020 | 866,381 |
| Valuation in 2021 | 219,979 |
| Cost | 8,080,818 |
| 11,183,869 |
| If investment properties had not been revalued they would have been included at the following historical cost: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Cost | 8,080,818 | 7,098,482 |
| Investment properties were valued on an open market basis on 31 March 2022 by the directors . |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 7. | STOCKS |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Work-in-progress |
| 8. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Trade debtors |
| Other debtors |
| VAT |
| Prepayments and accrued income |
| 9. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Bank loans and overdrafts |
| Other loans |
| Trade creditors |
| Rent deposits | 11,938 | 7,009 |
| Directors' current accounts |
| Deferred income |
| Accrued expenses |
| 10. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Bank loans - 1-2 years |
| Bank loans - 2-5 years |
| Bank loans more 5 yr by instal |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Bank loans more 5 yr by instal | - | 1,350,000 |
| LONGHOLD INVESTMENTS LTD (REGISTERED NUMBER: 07787677) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 31 MARCH 2022 |
| 11. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 31.3.22 | 31.3.21 |
| £ | £ |
| Bank loans |
| The loans are secured by a first legal charge over the investment properties. |
| 12. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31.3.22 | 31.3.21 |
| value: | £ | £ |
| Ordinary shares | 1 | 100 | 100 |