Company registration number 10731417 (England and Wales)
THE LEVELL PARTNERSHIP LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
THE LEVELL PARTNERSHIP LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2
Notes to the financial statements
3 - 5
THE LEVELL PARTNERSHIP LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF THE LEVELL PARTNERSHIP LIMITED FOR THE YEAR ENDED 31 MARCH 2024
- 1 -
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of The Levell Partnership Limited for the year ended 31 March 2024 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
This report is made solely to the Board of Directors of The Levell Partnership Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of The Levell Partnership Limited and state those matters that we have agreed to state to the Board of Directors of The Levell Partnership Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than The Levell Partnership Limited and its Board of Directors as a body, for our work or for this report.
It is your duty to ensure that The Levell Partnership Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of The Levell Partnership Limited. You consider that The Levell Partnership Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the financial statements of The Levell Partnership Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.
Kirk Rice LLP
16 August 2024
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
THE LEVELL PARTNERSHIP LIMITED
BALANCE SHEET
AS AT
31 MARCH 2024
31 March 2024
- 2 -
2024
2023
Notes
£
£
£
£
Fixed assets
Tangible assets
3
1,403
1,987
Current assets
Debtors
4
39,079
30,420
Cash at bank and in hand
6,538
31,313
45,617
61,733
Creditors: amounts falling due within one year
5
(1,865)
(11,734)
Net current assets
43,752
49,999
Net assets
45,155
51,986
Capital and reserves
Called up share capital
100
100
Profit and loss reserves
45,055
51,886
Total equity
45,155
51,986
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
For the financial year ended 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The financial statements were approved by the board of directors and authorised for issue on 15 August 2024 and are signed on its behalf by:
J D Levell
Director
Company registration number 10731417 (England and Wales)
THE LEVELL PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information
The Levell Partnership Limited is a private company limited by shares incorporated in England and Wales. The registered office is 3 Sycamore Close, Sibford Gower, Oxfordshire, OX15 5SB.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Tangible fixed assets
Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.
Depreciation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases:
Fixtures and fittings
25% on cost
Computers
33.33% on cost
The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.
1.3
Impairment of fixed assets
At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2024
2023
Number
Number
Total
2
2
THE LEVELL PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 4 -
3
Tangible fixed assets
Fixtures and fittings
Computers
Total
£
£
£
Cost
At 1 April 2023
1,638
10,101
11,739
Additions
957
957
Disposals
(1,422)
(1,422)
At 31 March 2024
1,638
9,636
11,274
Depreciation and impairment
At 1 April 2023
677
9,075
9,752
Depreciation charged in the year
409
1,132
1,541
Eliminated in respect of disposals
(1,422)
(1,422)
At 31 March 2024
1,086
8,785
9,871
Carrying amount
At 31 March 2024
552
851
1,403
At 31 March 2023
961
1,026
1,987
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Other debtors
39,079
30,420
5
Creditors: amounts falling due within one year
2024
2023
£
£
Taxation and social security
10,142
Other creditors
1,865
1,592
1,865
11,734
THE LEVELL PARTNERSHIP LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Directors' transactions
Loans have been granted by the company to its directors and are repayable on demand. Interest is added to the loan at HMRC's effective interest rates. The loans are as follows:
Description
% Rate
Opening balance
Amounts advanced
Interest charged
Amounts repaid
Closing balance
£
£
£
£
£
R K Levell -
-
30,050
14,600
778
(16,600)
28,828
30,050
14,600
778
(16,600)
28,828