2019-11-01
08255872
2020-10-31
08255872
2019-11-01
2020-10-31
08255872
2019-10-31
08255872
2018-11-01
2019-10-31
08255872
uk-core:WithinOneYear
2019-10-31
08255872
uk-core:WithinOneYear
2020-10-31
08255872
uk-core:ShareCapital
2020-10-31
08255872
uk-core:ShareCapital
2019-10-31
08255872
uk-bus:Director1
2019-11-01
2020-10-31
iso4217:GBP
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08255872
uk-bus:AuditExempt-NoAccountantsReport
2019-11-01
2020-10-31
08255872
uk-bus:FRS102
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2020-10-31
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uk-bus:FullAccounts
2019-11-01
2020-10-31
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uk-bus:PrivateLimitedCompanyLtd
2019-11-01
2020-10-31
| Registered Number:08255872 |
For the year ended 31 October 2020
England and Wales
Unaudited Financial Statements
2
Long Investments Limited
Statement of Financial Position
2019
2020
| Trade and other receivables |
2
2,896
2
2,896
2
| Trade and other payables: amounts falling due within one |
| year |
-
(2,796)
3
2
100
Net current assets
| Total assets less current liabilities |
100
2
100
Net assets
2
100
2
100
2
Shareholders' funds
| For the year ended 31 October 2020 the company was entitled to exemption from audit under Section 477 of the Companies Act 2006 relating to small companies. |
| The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2020 in accordance with Section 476 of the Companies Act 2006 |
| The directors acknowledge their responsibilities for:a) ensuring that the company keeps proper 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 Section 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. |
| In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered. |
| The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. |
| These financial statements were approved and authorised for issue by the Board on 15 July 2021 and were signed by: |
| The notes form part of these financial statements |
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3
For the year ended 31 October 2020
Long Investments Limited
Notes to the Financial Statements
Statutory Information
| Long Investments Limited is a private limited company, limited by shares, domiciled in England and Wales, |
| registration number 08255872. |
c/o Summit Bookkeeping Ltd
Bryn Awel, Brithdir
Dolgellau
Gwynedd
LL40 2RR
| The presentation currency is £ sterling. |
Basis of preparing the financial statements
| These financial statements have been prepared in accordance with the provisions of Section 1A 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 costs convention |
| as modified by the revaluation of certain assets. |
Revenue recognition
| Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax or other similar sales taxes. |
Deferred tax
| The tax expense for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income. 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 taxable income. Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements. Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. |
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4
For the year ended 31 October 2020
Long Investments Limited
Notes to the Financial Statements Continued
Borrowings
| Interest bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing |
| borrowings are subsequently carried at amortised cost with the difference between the proceeds, net of |
| transaction costs, and the amount due on redemption being recognised as a charge to the Statement of |
| Income over the period of the relevant borrowing. |
| Interest expense is recognised on the basis of the effective interest method and is included in interest |
| payable and similar charges. |
| Borrowings are classified as current liabilities unless the company has an unconditional right to defer |
| settlement of the liability for at least 12 months after the reporting date. |
Financial instruments
| Financial liabilities and equity instruments are classified according to the substance of the contractual |
| arrangements entered into. An equity instrument is any contract that evidences a residual interest in the |
| assets of the entity after deducting all of its financial liabilities. |
| Where the contractual obligations of financial instruments (including share capital) are equivalent to a similar |
| debt instrument, those financial instruments are classed as financial liabilities. Financial liabilities are |
| presented as such in the Statement of Financial Position. Finance costs and gains or losses relating to |
| financial liabilities are included in the Income Statement. Finance costs are calculated so as to produce a |
| constant rate of return on the outstanding liability. |
| Where the contractual terms of share capital do not have any items meeting the definition of a financial |
| liability then this is classed as an equity instrument. Dividends and distributions relating to equity |
| instruments are debited direct to equity. |
Related parties
| For the purposes of these financial statements, a party is considered to be related to the company if: |
| (i) the party has the ability, directly or indirectly through one or more intermediaries, to control the |
| company or exercise significant influence over the company in making financial and operating policy decisions |
| or has joint control over the company; |
| (ii) the company and the party are subject to common control; |
| (iii) the party is an associate of the company or a joint venture in which the company is a venturer; |
| (iv) the party is a member of key management personnel of the company or a close family member of such |
| an individual or is an entity under the control, joint control or significant influence of such individuals; |
| (v) the party is a close family member of a party referred to in (i) above or is an entity under the control, |
| joint control or significant influence of such individuals; |
| (vi) the party is a post-employment benefit plan which is for the benefit of employees of the company or of |
| any entity that is a related party of the company; or |
| (vii) the party or any member of a group of which it is part, provides key management personnel services to |
| Close family members of an individual are those family members who may be expected to influence or be |
| influenced by that individual in their dealings with the entity. |
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5
For the year ended 31 October 2020
Long Investments Limited
Notes to the Financial Statements Continued
| 2. Trade and other receivables |
2019
2020
2,896
2
| 3. Trade and other payables: amounts falling due within one year |
2019
2020
2,796
-
| 4. Related party transactions |
| Included in note 3 to the financial statements, trade and other payables: amounts falling due within one year, |
| are the following amounts owed by the company at 31 October 2020: |
| Amount owed to the directors: £2,796 (2019: Owed by the directors £2) |
| During the year, the company allotted a further 98 ordinary shares of £1 each to rank pari passu with the |
| existing issued share capital. Of these, the directors were allotted a total of 48 shares. |
| 5. Average number of persons employed |
During the year the average number of employees was 0 (2019: 0)
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