L B Longley Investments Limited - Abbreviated accounts 16.1

REGISTERED NUMBER: 00553694 (England and Wales)

L B LONGLEY INVESTMENTS LIMITED

ABBREVIATED UNAUDITED ACCOUNTS

FOR THE YEAR ENDED 31 OCTOBER 2015

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

DIRECTORS:

J T Hakim

R Hakim

N A Longley

SECRETARY:

J T Hakim

REGISTERED OFFICE:

32 Benett Drive

Hove

East Sussex

BN3 6UT

REGISTERED NUMBER:

00553694 (England and Wales)

ACCOUNTANTS:

Hakim Fry

Chartered Accountants

69-71 East Street

Epsom

Surrey, England

KT17 1BP

BANKERS:

Coutts & Co

440 Strand

London

WC2R 0QS

FIXED ASSETS

Tangible assets

2

6,967,141

6,753,561

CURRENT ASSETS

Debtors

14,603

13,627

Cash at bank

20,062

69,159

34,665

82,786

CREDITORS

Amounts falling due within one year

3

66,691

41,178

NET CURRENT (LIABILITIES)/ASSETS

(32,026

)

41,608

TOTAL ASSETS LESS CURRENT
LIABILITIES

6,935,115

6,795,169

CREDITORS

Amounts falling due after more than one
year

3

-

32,689

NET ASSETS

6,935,115

6,762,480

CAPITAL AND RESERVES

Called up share capital

4

5

Revaluation reserve

4,888,099

4,595,879

Other reserves

156,739

Profit and loss account

1,890,272

2,009,857

SHAREHOLDERS' FUNDS

6,935,115

6,762,480

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2015.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2015 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 18 April 2016 and were signed on its behalf by:

J T Hakim - Director

R Hakim - 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 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.

Short leasehold

-

10% on cost

Office equipment

-

25% on reducing balance and 10% on reducing balance

Deferred tax

Full provision is made for deferred tax assets and liabilities arising from all timing differences between the

recognition of gains and losses in the financial statements and recognition in the tax computation.

Deferred tax is not provided on timing differences arising from the revaluation of fixed assets in the financial

statements.

A net deferred tax asset is recognised only if it can be regarded as more likely than not that there will be suitable

taxable profits from which the future reversal of the underlying timing differences can be deducted.

Deferred tax assets and liabilities are calculated at the tax rates expected to be effective at the time the timing

differences are expected to reverse.

Deferred tax assets and liabilities are not discounted.

Investments

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

Investment properties

Investment properties are revalued annually. Surpluses or deficits on individual properties are transferred to the

investment revaluation reserve, except that a deficit which is expected to be permanent and which is in excess of

any previously recognised surplus over cost relating to the same property, or the reversal of such a deficit, is

charged (or credited) to the profit and loss account. Depreciation is not provided in respect of freehold

investment properties. The directors consider that this accounting policy, which represents a departure from the

requirements of the Companies Act 2006, is necessary to provide a true and fair view as required under SSAP

19. The financial effect of the departure from the statutory accounting rules is shown in the notes to the financial

statements.

2.	TANGIBLE FIXED ASSETS

Total

£

COST OR VALUATION

At 1 November 2014

6,852,678

Additions

192,025

Disposals

(224,603

)

Revaluations

247,569

At 31 October 2015

7,067,669

DEPRECIATION

At 1 November 2014

99,117

Charge for year

13,386

Eliminated on disposal

(11,975

)

At 31 October 2015

100,528

NET BOOK VALUE

At 31 October 2015

6,967,141

At 31 October 2014

6,753,561

3.

CREDITORS

Creditors include an amount of £ 28,325 (31.10.14 - £ 32,689 ) for which security has been given.

4.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.10.15

31.10.14

value:

£

100

Ordinary

5p

5