IRIS Accounts Production v24.1.9.2 00350939 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false Fair value model iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh003509392023-03-31003509392024-03-31003509392023-04-012024-03-31003509392022-03-31003509392022-04-012023-03-31003509392023-03-3100350939ns15:EnglandWales2023-04-012024-03-3100350939ns14:PoundSterling2023-04-012024-03-3100350939ns10:Director12023-04-012024-03-3100350939ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3100350939ns10:SmallEntities2023-04-012024-03-3100350939ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3100350939ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3100350939ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3100350939ns10:FullAccounts2023-04-012024-03-3100350939ns10:Director22023-04-012024-03-3100350939ns10:RegisteredOffice2023-04-012024-03-3100350939ns5:CurrentFinancialInstruments2024-03-3100350939ns5:CurrentFinancialInstruments2023-03-3100350939ns5:ShareCapital2024-03-3100350939ns5:ShareCapital2023-03-3100350939ns5:FurtherSpecificReserve3ComponentTotalEquity2024-03-3100350939ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-3100350939ns5:RetainedEarningsAccumulatedLosses2024-03-3100350939ns5:RetainedEarningsAccumulatedLosses2023-03-3100350939ns5:FurnitureFittings2023-04-012024-03-3100350939ns5:FurnitureFittings2023-03-3100350939ns5:FurnitureFittings2024-03-3100350939ns5:FurnitureFittings2023-03-3100350939ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3100350939ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3100350939ns5:DeferredTaxation2023-03-3100350939ns5:DeferredTaxation2024-03-3100350939ns5:FurtherSpecificReserve3ComponentTotalEquity2023-03-31
REGISTERED NUMBER: 00350939 (England and Wales)

















Unaudited Financial Statements

for the Year Ended 31 March 2024

for

Levins (Furnishers) Limited

Levins (Furnishers) Limited (Registered number: 00350939)






Contents of the Financial Statements
for the year ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Levins (Furnishers) Limited

Company Information
for the year ended 31 March 2024







DIRECTORS: Mrs C A Bolton
M A Levin



REGISTERED OFFICE: Leasowes Bank Farm
Ratlinghope
Shrewsbury
Shropshire
SY5 0SW



REGISTERED NUMBER: 00350939 (England and Wales)



ACCOUNTANTS: Caerwyn Jones
Chartered Accountants
Emstrey House
Shrewsbury Business Park
Shrewsbury
Shropshire
SY2 6LG



BANKERS: HSBC Bank Plc
328 High Street
West Bromwich
West Midlands
B70 8DL

Levins (Furnishers) Limited (Registered number: 00350939)

Statement of Financial Position
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 4 1,419 1,578
Investment property 5 800,000 800,000
801,419 801,578

CURRENT ASSETS
Debtors 6 - 4,926
Cash at bank 33,537 28,770
33,537 33,696
CREDITORS
Amounts falling due within one year 7 21,691 22,170
NET CURRENT ASSETS 11,846 11,526
TOTAL ASSETS LESS CURRENT
LIABILITIES

813,265

813,104

PROVISIONS FOR LIABILITIES 8 108,391 108,391
NET ASSETS 704,874 704,713

CAPITAL AND RESERVES
Called up share capital 5,000 5,000
Fair value reserve 9 570,480 570,480
Retained earnings 129,394 129,233
SHAREHOLDERS' FUNDS 704,874 704,713

Levins (Furnishers) Limited (Registered number: 00350939)

Statement of Financial Position - continued
31 March 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 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.

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 July 2024 and were signed on its behalf by:





Mrs C A Bolton - Director


Levins (Furnishers) Limited (Registered number: 00350939)

Notes to the Financial Statements
for the year ended 31 March 2024

1. STATUTORY INFORMATION

Levins (Furnishers) 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 as modified by the revaluation of certain assets.

Turnover
Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fixtures and fittings - 10% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Financial instruments
The company has financial assets and financial liabilities of a kind that qualify as basic financial instruments.

Basic financial assets, including trade and other receivables and cash and bank balances are initially recognised at transaction price and subsequently carried at amortised cost with an assessment for objective evidence of impairment. Any impairment is recognised in profit and loss.

Basic financial liabilities including trade and other creditors are initially recognised at transaction price and subsequently carried at amortised cost.

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 statement of financial position date.


Levins (Furnishers) Limited (Registered number: 00350939)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. PROPERTY, PLANT AND EQUIPMENT
Fixtures
and
fittings
£   
COST
At 1 April 2023
and 31 March 2024 5,083
DEPRECIATION
At 1 April 2023 3,505
Charge for year 159
At 31 March 2024 3,664
NET BOOK VALUE
At 31 March 2024 1,419
At 31 March 2023 1,578

Levins (Furnishers) Limited (Registered number: 00350939)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023
and 31 March 2024 800,000
NET BOOK VALUE
At 31 March 2024 800,000
At 31 March 2023 800,000

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2010 570,481
Cost 229,519
800,000

If investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 229,519 229,519

investment properties were valued on an open market basis on 31 March 2024 by the directors .

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Other debtors - 4,926

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Taxation and social security 8,467 7,843
Other creditors 13,224 14,327
21,691 22,170

Levins (Furnishers) Limited (Registered number: 00350939)

Notes to the Financial Statements - continued
for the year ended 31 March 2024

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax
Other timing differences 108,391 108,391

Deferred
tax
£   
Balance at 1 April 2023 108,391
Balance at 31 March 2024 108,391

9. RESERVES
Fair
value
reserve
£   
At 1 April 2023
and 31 March 2024 570,480

10. RELATED PARTY DISCLOSURES

During the year, total dividends of £29,569 (2023 - £22,850) were paid to the directors .

Included in creditors falling due within one year is an amount of £10,115 (2023 - £11,471) due to the directors of the company. There is no interest payable on this amount, and the amount is repayable on demand.