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REGISTERED NUMBER: 00476593 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2023

FOR

LEVITT'S (FARMERS) LIMITED

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEVITT'S (FARMERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2023







DIRECTORS: G R Levitt
G C Levitt





REGISTERED OFFICE: Wrangmandale Wold
Beverley Road
North Newbald
Beverley
East Yorkshire
YO43 4SQ





REGISTERED NUMBER: 00476593 (England and Wales)





ACCOUNTANTS: Jackson Robson Licence Limited
33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

BALANCE SHEET
31 JANUARY 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 858,692 868,591

CURRENT ASSETS
Stocks 303,852 310,867
Debtors 5 45,573 61,881
Cash at bank 112,087 -
461,512 372,748
CREDITORS
Amounts falling due within one year 6 320,690 273,211
NET CURRENT ASSETS 140,822 99,537
TOTAL ASSETS LESS CURRENT
LIABILITIES

999,514

968,128

CREDITORS
Amounts falling due after more than one
year

7

(609,041

)

(627,631

)

PROVISIONS FOR LIABILITIES 8 (66,550 ) (67,183 )
NET ASSETS 323,923 273,314

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 9 323,723 273,114
SHAREHOLDERS' FUNDS 323,923 273,314

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2023 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.

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

BALANCE SHEET - continued
31 JANUARY 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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

The financial statements were approved by the Board of Directors and authorised for issue on 31 August 2023 and were signed on its behalf by:




G R Levitt - Director



G C Levitt - Director


LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2023

1. STATUTORY INFORMATION

Levitt's (Farmers) Limited 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.

2. ACCOUNTING POLICIES

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

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Farm buildings - 2% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of the obligations is charged to the profit and loss account over the relevant period. The capital element of the future payments is treated as a liability.

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Freehold Farm Plant and Motor
land buildings machinery vehicles Totals
£    £    £    £    £   
COST
At 1 February 2022 259,336 348,149 1,086,422 1,667 1,695,574
Additions - - 116,280 - 116,280
Disposals - - (80,000 ) - (80,000 )
At 31 January 2023 259,336 348,149 1,122,702 1,667 1,731,854
DEPRECIATION
At 1 February 2022 - 92,489 733,354 1,140 826,983
Charge for year - 6,963 81,040 132 88,135
Eliminated on disposal - - (41,956 ) - (41,956 )
At 31 January 2023 - 99,452 772,438 1,272 873,162
NET BOOK VALUE
At 31 January 2023 259,336 248,697 350,264 395 858,692
At 31 January 2022 259,336 255,660 353,068 527 868,591

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 39,811 57,822
VAT 4,873 1,140
Prepayments 889 2,919
45,573 61,881

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 34,228 43,941
Bounce back loan scheme 34,167 44,127
Hire purchase contracts 40,213 39,441
Trade creditors 190,014 143,029
Tax 17,645 -
Directors' current accounts 1,750 410
Accrued expenses 2,673 2,263
320,690 273,211

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2023

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans - 1-2 years 34,953 34,953
Bank loans - 2-5 years 109,527 109,527
Bank loans due after more
than 5 year by instalments 415,042 450,186
Hire purchase contracts 49,519 32,965
609,041 627,631

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more
than 5 year by instalments 415,042 450,186
415,042 450,186

8. PROVISIONS FOR LIABILITIES
2023 2022
£    £   
Deferred tax 66,550 67,183

Deferred
tax
£   
Balance at 1 February 2022 67,183
Provided during year (633 )
Movement in the year
Balance at 31 January 2023 66,550

9. RESERVES
Retained
earnings
£   

At 1 February 2022 273,114
Profit for the year 106,109
Dividends (55,500 )
At 31 January 2023 323,723

10. ULTIMATE CONTROLLING PARTY

No single shareholder has control over the reporting entity and there is therefore no ultimate controlling party.