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Registered number: 3416196
Levers Estates Limited
Unaudited Financial Statements
For The Year Ended 30 September 2023
Freestone & Co
1 The Centre
High Street
Gillingham
Dorset
SP8 4AB
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 3416196
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 735,041 761,819
735,041 761,819
CURRENT ASSETS
Stocks 5 53,931 2,000
Debtors 6 101,386 76,576
Cash at bank and in hand 77,300 180,930
232,617 259,506
Creditors: Amounts Falling Due Within One Year 7 (183,312 ) (210,741 )
NET CURRENT ASSETS (LIABILITIES) 49,305 48,765
TOTAL ASSETS LESS CURRENT LIABILITIES 784,346 810,584
Creditors: Amounts Falling Due After More Than One Year 8 (32,484 ) (51,176 )
PROVISIONS FOR LIABILITIES
Deferred Taxation (33,286 ) (30,664 )
NET ASSETS 718,576 728,744
CAPITAL AND RESERVES
Called up share capital 10 3 3
Share premium account 256,383 256,383
Profit and Loss Account 462,190 472,358
SHAREHOLDERS' FUNDS 718,576 728,744
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For the year ending 30 September 2023 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
I P Lever
Director
P R E Lever
Director
H E Lever
Director
7 August 2024
The notes on pages 3 to 6 form part of these financial statements.
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Page 3
Notes to the Financial Statements
1. General Information
Levers Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 3416196 . The registered office is Hawkers Hill Farm, Motcombe, Shaftesbury, Dorset, SP7 9NP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.
2.3. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Freehold Not depreciated
Plant & Machinery 10% reducing balance
Motor Vehicles 25% reducing balance
Fixtures & Fittings 15% reducing balance
2.4. Leasing and Hire Purchase Contracts
Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to profit and loss account as incurred.
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
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2.6. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.
Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.
Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
2.7. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 6 (2022: 6)
6 6
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4. Tangible Assets
Land & Property
Freehold Plant & Machinery Motor Vehicles Fixtures & Fittings Total
£ £ £ £ £
Cost
As at 1 October 2022 511,961 352,610 174,591 23,077 1,062,239
Additions - - 17,650 299 17,949
Disposals - (8,000 ) (9,490 ) - (17,490 )
As at 30 September 2023 511,961 344,610 182,751 23,376 1,062,698
Depreciation
As at 1 October 2022 - 148,985 132,380 19,055 300,420
Provided during the period - 19,942 13,550 648 34,140
Disposals - (2,751 ) (4,152 ) - (6,903 )
As at 30 September 2023 - 166,176 141,778 19,703 327,657
Net Book Value
As at 30 September 2023 511,961 178,434 40,973 3,673 735,041
As at 1 October 2022 511,961 203,625 42,211 4,022 761,819
5. Stocks
2023 2022
£ £
Stock 9,920 1,000
Work in progress 44,011 1,000
53,931 2,000
6. Debtors
2023 2022
£ £
Due within one year
Trade debtors 54,312 39,154
Amounts owed by group undertakings 855 712
Other debtors 46,219 36,710
101,386 76,576
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 5,809 33,960
Trade creditors 38,136 28,960
Bank loans and overdrafts 10,000 10,000
Funding Circle loan 6,294 6,294
Other creditors 96,402 109,167
Taxation and social security 26,671 22,360
183,312 210,741
8. Creditors: Amounts Falling Due After More Than One Year
2023 2022
£ £
Net obligations under finance lease and hire purchase contracts 12,670 15,068
Bounce Back loan due after one year 16,667 26,667
Funding Circle loan due after one year 3,147 9,441
32,484 51,176
9. Obligations Under Finance Leases and Hire Purchase
2023 2022
£ £
The future minimum finance lease payments are as follows:
Not later than one year 5,809 33,960
Later than one year and not later than five years 12,670 15,068
18,479 49,028
18,479 49,028
10. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 3 3
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