Abbreviated Company Accounts - LONGDEAL LIMITED

01854494 LONGDEAL LIMITED 2016-03-31 false 2015-04-01 2016-03-31 true 01854494 2015-04-01 2016-03-31 01854494 2016-03-31 01854494 2015-03-31 01854494 uk-gaap-cd-bus:Director1 2015-04-01 2016-03-31 01854494 uk-gaap-cd-bus:Director2 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-04-01 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2016-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2015-03-31 iso4217:GBP shares

Registered Number 01854494

LONGDEAL LIMITED

Abbreviated Accounts

31 March 2016

LONGDEAL LIMITED Registered Number 01854494

Abbreviated Balance Sheet as at 31 March 2016

	Notes	2016	2015
		£	£
Fixed assets
Tangible assets	2	330,000	330,000
		330,000	330,000
Current assets
Debtors		801,989	814,532
Cash at bank and in hand		167,860	110,036
		969,849	924,568
Creditors: amounts falling due within one year		(1,147,523)	(1,146,787)
Net current assets (liabilities)		(177,674)	(222,219)
Total assets less current liabilities		152,326	107,781
Total net assets (liabilities)		152,326	107,781
Capital and reserves
Called up share capital	3	102	102
Other reserves		13,949	13,288
Profit and loss account		138,275	94,391
Shareholders' funds		152,326	107,781

For the year ending 31 March 2016 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

Approved by the Board on 13 December 2016

And signed on their behalf by:
Mrs E A Jefferson, Director

LONGDEAL LIMITED Registered Number 01854494

Notes to the Abbreviated Accounts for the period ended 31 March 2016

1Accounting Policies

Basis of measurement and preparation of accounts
The financial statements have been prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015).

Turnover policy
Turnover comprises the value of properties sold by the company exclusive of value added tax. Turnover is recognised on exchange of contracts.

Valuation information and policy
Investment properties
In accordance with the Financial Reporting Standard for Smaller Entities (effective January 2015) ('FRSSE') investment properties are revalued annually and the aggregate surplus or deficit is transferred to revaluation reserve. No depreciation is provided in respect of investment properties.

The Companies Act 2006 requires all properties to be depreciated. However, this requirement conflicts with the generally accepted accounting principle set out in the FRSSE. The director considers that because the properties are not held for consumption but for their investment potential, to depreciate them would not give a true and fair view, and that it is necessary to adopt the FRSSE in order to give a true and fair view. Depreciation is only one of the many factors reflected in the annual valuation and the amount which might otherwise have been shown cannot be separately identified or quantified.

2Tangible fixed assets

	£
Cost
At 1 April 2015	330,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2016	330,000
Depreciation
At 1 April 2015	-
Charge for the year	-
On disposals	-
At 31 March 2016	-
Net book values
At 31 March 2016	330,000
At 31 March 2015	330,000

3Called Up Share Capital
Allotted, called up and fully paid:

	2016 £	2015 £
102 Ordinary shares of £1 each	102	102