Longhall Estates Ltd - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 06890752 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2018

FOR

LONGHALL ESTATES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

Mr D Bineth

REGISTERED OFFICE:

141 A Stamford Hill

London

N16 5LG

REGISTERED NUMBER:

06890752 (England and Wales)

ACCOUNTANTS:

Raffingers LLP

Chartered Certified Accountants

19-20 Bourne Court

Southend Road

Woodford Green

Essex

IG8 8HD

FIXED ASSETS

Investment property

3

1,400,231

2,150,231

CURRENT ASSETS

Debtors

919,776

7,668

Cash at bank

27,402

6,365

947,178

14,033

CREDITORS

Amounts falling due within one year

109,063

254,892

NET CURRENT ASSETS/(LIABILITIES)

838,115

(240,859

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,238,346

1,909,372

CREDITORS

Amounts falling due after more than one year

4

884,858

646,899

NET ASSETS

1,353,488

1,262,473

CAPITAL AND RESERVES

Called up share capital

1

1

Fair value reserve

6

693,982

1,091,702

Retained earnings

659,505

170,770

SHAREHOLDERS' FUNDS

1,353,488

1,262,473

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2018 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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 financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 30 April 2018 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director on 24 January 2019 and were signed by:

Mr D Bineth - Director

1.	STATUTORY INFORMATION

Longhall Estates Ltd is a private company, limited by shares , registered in England and Wales. The company's

registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Investment property

Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties

are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value

can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and

losses arising from changes in the fair value of investment properties are included in profit or loss in the period

in which they arise.

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.

Short term debtors and creditors

Short term debtors and creditors with no stated interest rate are recorded at transaction price. Any losses arising

from impairment are recognised in the profit and loss account.

3.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 May 2017

2,150,231

Disposals

(1,000,000

)

Revaluations

250,000

At 30 April 2018

1,400,231

NET BOOK VALUE

At 30 April 2018

1,400,231

At 30 April 2017

2,150,231

Fair value at 30 April 2018 is represented by:

£

Valuation in 2016

593,982

Valuation in 2017

100,000

Cost

706,249

1,400,231

If investment property had not been revalued it would have been included at the following historical cost:

2018

2017

£

£

Cost

706,249

1,058,529

Investment property was valued on an open market basis on 30 April 2018 by the director .

4.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2018

2017

£

£

Repayable by instalments

Bank loans

884,858

646,899

5.	SECURED DEBTS

The bank loans are secured on the company's investment properties.

6.

RESERVES

Fair

value

reserve

£

At 1 May 2017

1,091,702

Transfer from/to P & L reserve

(397,720

)

At 30 April 2018

693,982

7.	RELATED PARTY DISCLOSURES

At the balance sheet date the company owed the director, Mr D Bineth, £63,577 (2017 - £68,077).

At the balance sheet date the company owed £35,352 (2017 - £114,352) to Westmax Limited, the immediate

parent company, and was owed £501,033 (2017 - the company owed £38,967) by/to Darbin Estates Limited, the

ultimate parent company.

At the balance sheet date, the company was owed £393,411(2017 - Nil) by Downhill Park Limited and £19,340

(2017 - Nil) by Roundway Limited, both being companies within the same group.