Caseware UK (AP4) 2022.0.179 2022.0.179 2022-12-312022-12-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.22022-01-01falseManagement consultancy activities other than financial management2truetrue 11715816 2022-01-01 2022-12-31 11715816 2021-01-01 2021-12-31 11715816 2022-12-31 11715816 2021-12-31 11715816 c:Director3 2022-01-01 2022-12-31 11715816 d:OfficeEquipment 2022-01-01 2022-12-31 11715816 d:OfficeEquipment 2022-12-31 11715816 d:OfficeEquipment 2021-12-31 11715816 d:OfficeEquipment d:OwnedOrFreeholdAssets 2022-01-01 2022-12-31 11715816 d:CurrentFinancialInstruments 2022-12-31 11715816 d:CurrentFinancialInstruments 2021-12-31 11715816 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 11715816 d:CurrentFinancialInstruments d:WithinOneYear 2021-12-31 11715816 d:ShareCapital 2022-12-31 11715816 d:ShareCapital 2021-12-31 11715816 d:RetainedEarningsAccumulatedLosses 2022-12-31 11715816 d:RetainedEarningsAccumulatedLosses 2021-12-31 11715816 c:OrdinaryShareClass1 2022-01-01 2022-12-31 11715816 c:OrdinaryShareClass1 2022-12-31 11715816 c:OrdinaryShareClass1 2021-12-31 11715816 c:FRS102 2022-01-01 2022-12-31 11715816 c:AuditExempt-NoAccountantsReport 2022-01-01 2022-12-31 11715816 c:FullAccounts 2022-01-01 2022-12-31 11715816 c:PrivateLimitedCompanyLtd 2022-01-01 2022-12-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11715816










LEVERCOR ENERGY LIMITED








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2022

 
LEVERCOR ENERGY LIMITED
REGISTERED NUMBER: 11715816

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2022

2022
2021
Note
£
£

Fixed assets
  

Tangible assets
 4 
187
543

  
187
543

Current assets
  

Debtors: amounts falling due within one year
 5 
99,575
167,856

Cash at bank and in hand
  
436,801
386,661

  
536,376
554,517

Current Liablities
  

Creditors: amounts falling due within one year
 6 
(216,034)
(248,255)

Total assets less current liabilities
  
 
 
320,529
 
 
306,805

  

Net assets
  
320,529
306,805


Capital and reserves
  

Called up share capital 
 7 
1,000
1,000

Profit and loss account
  
319,529
305,805

  
320,529
306,805


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 


D M Wightman
Director
Date: 27 November 2023

The notes on pages 2 to 5 form part of these financial statements.

Page 1

 
LEVERCOR ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

1.


General information

Levercor Energy Limited is a limited liability company incorporated in England and Wales. The address of its registered office is Reading Bridge House, George Street, Reading, Berkshire, RG1 8LS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable for services during the year, excluding discounts, rebates, value added tax and other sales taxes.

 
2.3

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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 income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 2

 
LEVERCOR ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
33%

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Page 3

 
LEVERCOR ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

2.Accounting policies (continued)

 
2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.


3.


Employees

The average monthly number of employees, including directors, during the year was 2 (2021 - 2).


4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 January 2022
1,077



At 31 December 2022

1,077



Depreciation


At 1 January 2022
534


Charge for the year on owned assets
356



At 31 December 2022

890



Net book value



At 31 December 2022
187



At 31 December 2021
543


5.


Debtors

2022
2021
£
£


Trade debtors
26,204
132,781

Other debtors
65,422
35,075

Prepayments and accrued income
7,949
-

99,575
167,856


Page 4

 
LEVERCOR ENERGY LIMITED
 

 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2022

6.


Creditors: amounts falling due within one year

2022
2021
£
£

Other loans
-
20,000

Trade creditors
115,484
186,283

Corporation tax
37,047
6,977

Other taxation and social security
39,480
32,325

Other creditors
20,293
-

Accruals and deferred income
3,730
2,670

216,034
248,255



7.


Share capital

2022
2021
£
£
Allotted, called up and fully paid



1,000 (2021 - 1,000) Ordinary shares of £1.00 each
1,000
1,000



8.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company  to the fund and amounted to £1,321 (2021: £1,319). 
Contributions totalling £293 (2021: £nil) were payable to the fund at the reporting date and are included in creditors.


9.


Related party transactions

The directors received dividends of £80,000 during the year (2021: £55,000).
During the year Levercor Energy Limited incurred services from Wightman International Limited amounting to £24,000 (2021: £42,222), a company owned by D Wightman (director).
At the balance sheet date the directors had loans outstanding:
J Anwyl             £44,134 repayable to the company (2021: £21,225)
D Wightman      £20,000 due from the company (2021: £20,000)
During the year interest of £684 was charged on overdrawn loans using HM Revenue & Customs official rate of 2% (2021: £nil).


Page 5