REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
LEVITT UK REAL ESTATE LIMITED |
REGISTERED NUMBER: |
UNAUDITED FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
FOR |
LEVITT UK REAL ESTATE LIMITED |
LEVITT UK REAL ESTATE LIMITED (REGISTERED NUMBER: 07127355) |
CONTENTS OF THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 |
Notes to the Financial Statements | 3 |
LEVITT UK REAL ESTATE LIMITED |
COMPANY INFORMATION |
FOR THE YEAR ENDED 30 JUNE 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
First Floor, Templeback |
10 Temple back |
Bristol |
BS1 6FL |
LEVITT UK REAL ESTATE LIMITED (REGISTERED NUMBER: 07127355) |
BALANCE SHEET |
30 JUNE 2023 |
30/6/23 | 30/6/22 |
Notes | £ | £ |
FIXED ASSETS |
Investments | 4 |
CURRENT ASSETS |
Debtors | 5 |
Investments | 6 |
Cash at bank |
CREDITORS |
Amounts falling due within one year | 7 | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CAPITAL AND RESERVES |
Called up share capital |
Capital redemption reserve |
Retained earnings |
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. |
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 |
LEVITT UK REAL ESTATE LIMITED (REGISTERED NUMBER: 07127355) |
NOTES TO THE FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30 JUNE 2023 |
1. | STATUTORY INFORMATION |
Levitt UK Real Estate Limited is a |
The company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£). |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Investments in subsidiaries |
Investments in subsidiary undertakings are recognised at cost. |
Financial instruments |
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments. |
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument. |
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously. |
Classification of financial liabilities |
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. |
Basic financial liabilities |
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price. |
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price. |
Foreign currencies |
Assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result. |
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. |
Current assets investments |
The investments in securities are recorded at market value. Changes in the values are recorded in the Profit and Loss account. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was NIL (2022 - NIL). |
LEVITT UK REAL ESTATE LIMITED (REGISTERED NUMBER: 07127355) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
4. | FIXED ASSET INVESTMENTS |
30/6/23 | 30/6/22 |
£ | £ |
Shares in group undertakings |
Loans to group undertakings |
Other investments not loans |
Additional information is as follows: |
Shares in |
group |
undertakings |
£ |
Cost |
At 1 July 2022 |
and 30 June 2023 |
Net book value |
At 30 June 2023 |
At 30 June 2022 |
Investments (neither listed nor unlisted) were as follows: |
30/6/23 | 30/6/22 |
£ | £ |
Brought forward | 6,000,000 | 6,000,000 |
Loans to |
group |
undertakings |
£ |
At 1 July 2022 |
and 30 June 2023 |
Investments |
The investment in group undertakings represents an investment in Levitt Abito Limited of 501 Ordinary shares £1 comprising of 75% of the allotted and issued share capital of the company. |
5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/23 | 30/6/22 |
£ | £ |
Other debtors |
6. | CURRENT ASSET INVESTMENTS |
30/6/23 | 30/6/22 |
£ | £ |
Call deposit | - | 246,709 |
Other investments |
Current assets investments represent investments to be sold within a year. |
LEVITT UK REAL ESTATE LIMITED (REGISTERED NUMBER: 07127355) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
FOR THE YEAR ENDED 30 JUNE 2023 |
7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
30/6/23 | 30/6/22 |
£ | £ |
Trade creditors |
Amounts owed to group undertakings |
Taxation and social security |
Other creditors |
The amount owed to group undertakings includes three loans. The loan of £104,824 (30/6/2022: £104,824) from Levitt International Building Corporation, £140,000 (30/6/2022: £140,000) from Levitt International Development Corporation and £nil (30/6/2022: £201,224) owed to Levitt International Development Corporation. These amounts are unsecured, interest free and repayable on demand. |
Included within other creditors are the amounts of £119,748 (30/6/2022: £119,748) owed to Merlin 2 GP LLP, and £630,000 (30/6/2022: £1,380,000) owed to Merlin 3 GP LLP. These amounts are unsecured, interest free and repayable on demand. |