Abbreviated Company Accounts - LONGDEAL LIMITED

01854494 LONGDEAL LIMITED 2014-03-31 false 2013-04-01 2014-03-31 true 01854494 2013-04-01 2014-03-31 01854494 2014-03-31 01854494 2013-03-31 01854494 uk-gaap-cd-bus:Director1 2013-04-01 2014-03-31 01854494 uk-gaap-cd-bus:Director2 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-04-01 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2014-03-31 uk-gaap-cd-bus:OrdinaryShareClass1 2013-03-31 iso4217:GBP shares

Registered Number 01854494

LONGDEAL LIMITED

Abbreviated Accounts

31 March 2014

LONGDEAL LIMITED Registered Number 01854494

Abbreviated Balance Sheet as at 31 March 2014

	Notes	2014	2013
		£	£
Fixed assets
Tangible assets	2	330,000	330,000
		330,000	330,000
Current assets
Debtors		816,455	821,926
Cash at bank and in hand		58,280	123,087
		874,735	945,013
Prepayments and accrued income		467	931
Net current assets (liabilities)		875,202	945,944
Total assets less current liabilities		1,205,202	1,275,944
Creditors: amounts falling due after more than one year		(1,154,433)	(1,205,660)
Total net assets (liabilities)		50,769	70,284
Capital and reserves
Called up share capital	3	102	102
Other reserves		12,494	12,683
Profit and loss account		38,173	57,499
Shareholders' funds		50,769	70,284

For the year ending 31 March 2014 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 31 December 2014

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 2014

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 April 2008).

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

Other accounting policies
Investment properties

In accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008) (‘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.

Financial instruments

Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is a contact that evidences a residual interest in the assets of the company after deducting all of its liabilities.

2Tangible fixed assets

	£
Cost
At 1 April 2013	330,000
Additions	-
Disposals	-
Revaluations	-
Transfers	-
At 31 March 2014	330,000
Depreciation
At 1 April 2013	0
Charge for the year	-
On disposals	-
At 31 March 2014	0
Net book values
At 31 March 2014	330,000
At 31 March 2013	330,000

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

	2014 £	2013 £
102 Ordinary shares of £1 each	102	102