ACCOUNTS - Final Accounts

LONGMILL RICKBOST LTD - Company Information

Caseware UK (AP4) 2023.0.135 2023.0.135 2023-07-312023-07-31The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.2022-08-01falseinvestment property22truetrue 07902534 2022-08-01 2023-07-31 07902534 2021-08-01 2022-07-31 07902534 2023-07-31 07902534 2022-07-31 07902534 c:Director2 2022-08-01 2023-07-31 07902534 d:FreeholdInvestmentProperty 2023-07-31 07902534 d:FreeholdInvestmentProperty 2022-07-31 07902534 d:CurrentFinancialInstruments 2023-07-31 07902534 d:CurrentFinancialInstruments 2022-07-31 07902534 d:Non-currentFinancialInstruments 2023-07-31 07902534 d:Non-currentFinancialInstruments 2022-07-31 07902534 d:CurrentFinancialInstruments d:WithinOneYear 2023-07-31 07902534 d:CurrentFinancialInstruments d:WithinOneYear 2022-07-31 07902534 d:Non-currentFinancialInstruments d:AfterOneYear 2023-07-31 07902534 d:Non-currentFinancialInstruments d:AfterOneYear 2022-07-31 07902534 d:ShareCapital 2023-07-31 07902534 d:ShareCapital 2022-07-31 07902534 d:RetainedEarningsAccumulatedLosses 2022-08-01 2023-07-31 07902534 d:RetainedEarningsAccumulatedLosses 2023-07-31 07902534 d:RetainedEarningsAccumulatedLosses 2022-07-31 07902534 d:AcceleratedTaxDepreciationDeferredTax 2023-07-31 07902534 d:AcceleratedTaxDepreciationDeferredTax 2022-07-31 07902534 c:OrdinaryShareClass1 2022-08-01 2023-07-31 07902534 c:OrdinaryShareClass1 2023-07-31 07902534 c:OrdinaryShareClass1 2022-07-31 07902534 c:FRS102 2022-08-01 2023-07-31 07902534 c:Audited 2022-08-01 2023-07-31 07902534 c:FullAccounts 2022-08-01 2023-07-31 07902534 c:PrivateLimitedCompanyLtd 2022-08-01 2023-07-31 07902534 c:SmallCompaniesRegimeForAccounts 2022-08-01 2023-07-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 07902534

LONGMILL RICKBOST LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023


LONGMILL RICKBOST LIMITED

CONTENTS

	Page
Statement of Financial Position	1
Notes to the Financial Statements	2 - 6


LONGMILL RICKBOST LIMITED REGISTERED NUMBER:07902534

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2023

		2023		2022
Note		£		£

Fixed assets
Investment property	4		8,920,000		8,920,000
Current assets
Debtors: amounts falling due within one year	5	3,836,217		3,859,066
Bank and cash balances		31,382		3,094
		3,867,599		3,862,160
Current liabilities
Creditors: amounts falling due within one year	6	(5,866,482)		(5,816,329)
Net current liabilities			(1,998,883)		(1,954,169)
Total assets less current liabilities			6,921,117		6,965,831
Creditors: amounts falling due after more than one year	7		(6,029,272)		(6,069,577)
Provisions for liabilities
Deferred tax	8		(64,534)		(332,009)
Net assets			827,311		564,245

Capital and reserves
Called up share capital	9	100	100
Profit and loss account	10	827,211	564,145
		827,311	564,245

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 15 April 2024.

V G Jeyabavan

Director

The notes on pages 2 to 6 form part of these financial statements.

Page 1


LONGMILL RICKBOST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

1.	General information

Longmill Rickbost Limited is a private limited liability company incorporated in England & Wales, with its registered office and business office address at 3rd Floor, 107 Jermyn Street, London SW1Y 6EE.
The principal activity of the Company is that of property investment.
The Company's functional and presentational currency is £ Sterling.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Going concern

The financial statements of the Company have been prepared on a going concern basis, the validity of which is dependant on the continued support of the directors and the other related party creditors of the business. The directors are satisfied that suitable facilities will continue to be made available for at least twelve months from the date of their approval of these financial statements and that the Company will be able to meet its working capital requirements for the foreseeable future.

2.3

Turnover

Turnover comprises rent receivable exclusive of Value Added Tax.
Rental income is recognised in the period to which it relates. Rental income received in advance is carried forward as deferred income.

2.4

Investment property

Investment property is carried at fair value determined annually by the directors and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in the Statement of Comprehensive Income.

2.5

Debtors

Short term debtors are measured at the transaction price, less any impairment.

2.6

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions.

Page 2


LONGMILL RICKBOST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

2.Accounting policies (continued)

2.7

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and related parties.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount.

2.10

Borrowing costs

All borrowing costs are recognised in the Statement of Comprehensive Income in the year in which they are incurred.

2.11

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Comprehensive Income, except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.
Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:

∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and

∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Employees

The directors were the only employees of the Company during the current and preceding period.

Page 3


LONGMILL RICKBOST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

4.	Investment property

		Freehold investment property
		£
	Valuation
	At 1 August 2022	8,920,000
	At 31 July 2023	8,920,000

The 2023 valuations were made by the directors, on an open market value for existing use basis.

In the opinion of the directors, there was no material change in the value of the investment properties since the last financial year.

If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:
	2023	2022
	£	£

Historic cost

8,579,003

Debtors

					2023	2022
					£	£


Trade debtors	21,702	9,186
Amounts owed by group undertakings	3,737,883	3,761,225
Prepayments	76,632	88,655
	3,836,217	3,859,066

Page 4


LONGMILL RICKBOST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

6.	Creditors: Amounts falling due within one year
		2023	2022
		£	£

Bank loans	59,351	78,404
Trade creditors	35,187	22,300
Amounts owed to group undertakings	5,543,321	5,471,033
Taxation and social security	15,343	13,129
Other creditors	122,325	124,126
Accruals and deferred income	90,955	107,337
	5,866,482	5,816,329

Secured loans
The Company's bank facilities are secured by a first charge on the investment properties, all rents and other income and a debenture over the assets of the Company.

7.	Creditors: Amounts falling due after more than one year
		2023	2022
		£	£

	Bank loans	6,029,272	6,069,577

Secured loans
The Company's bank facilities are secured by a first charge on the investment properties, all rents and other income and a debenture over the assets of the Company.

8.	Deferred taxation

		2023
		£

	At beginning of year	(332,009)
	Charged to profit or loss	267,475
	At end of year	(64,534)

Page 5


LONGMILL RICKBOST LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2023

8.Deferred taxation (continued)

The provision for deferred taxation is made up as follows:
	2023	2022
	£	£

Fair value adjustments

(64,534)

(332,009)

9.	Share capital
		2023	2022
		£	£

Allotted, called up and fully paid

100 (2022 - 100) Ordinary shares of £1 each	100	100

10.

Reserves

Profit and loss account

At the reporting date, the Company had accumulated reserves of £827,211 (2021 - £564,145), of which £276,463 (2022 - £8,988) are not distributable.

11.Directors' personal guarantees

D Yamin-Joseph has given a personal guarantee in the sum of £150,000 as security to the Company's bank facilities.

12.	Related party transactions
	The Company has taken advantage of the exemption under FRS 102 S33.1A Related Party Disclosured not to disclose transactions entered into between two or more members of a group, provided that any subsidiary underaking which is a party to the transactions is wholly owned by a member of that group.

13.	Controlling party

The Company is a wholly owned subsidiary of Longmill Realty Limited; a company registered in England and Wales. The ultimate controlling party is D Yamin-Joseph, who is a director and the controlling shareholder of Longmill Realty Limited.

14.	Auditors' information

The auditors' report on the financial statements for the year ended 31 July 2023 was unqualified.

The audit report was signed on 15 April 2024 by Stephen Iseman FCA (Senior Statutory Auditor) on behalf of Sopher + Co LLP.

Page 6