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Registered number: 11630563
Levantine Express Ltd
Financial Statements
For The Year Ended 31 October 2023
Sloane & Co. LLP
Chartered Certified Accountants & Business Advisors
36-38 Westbourne Grove
Newton Road
London
W2 5SH
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: 11630563
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 3,874 197
3,874 197
CURRENT ASSETS
Debtors 5 92,266 3,641
Cash at bank and in hand 175,934 127,944
268,200 131,585
Creditors: Amounts Falling Due Within One Year 6 (80,599 ) (19,892 )
NET CURRENT ASSETS (LIABILITIES) 187,601 111,693
TOTAL ASSETS LESS CURRENT LIABILITIES 191,475 111,890
NET ASSETS 191,475 111,890
CAPITAL AND RESERVES
Called up share capital 7 514,000 225,000
Profit and Loss Account (322,525 ) (113,110 )
SHAREHOLDERS' FUNDS 191,475 111,890
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For the year ending 31 October 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
Ms Rima Hijazi
Director
16 September 2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Levantine Express Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 11630563 . The registered office is Office 117a, Building 3 Chiswick Park, 566 Chiswick High Road, London, W4 5YA.
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.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
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:
Fixtures & Fittings 25% Reducing balance
2.4. Foreign Currencies
Monetary 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 ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 4 (2022: 4)
4 4
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4. Tangible Assets
Fixtures & Fittings
£
Cost
As at 1 November 2022 205
Additions 4,563
As at 31 October 2023 4,768
Depreciation
As at 1 November 2022 8
Provided during the period 886
As at 31 October 2023 894
Net Book Value
As at 31 October 2023 3,874
As at 1 November 2022 197
5. Debtors
2023 2022
£ £
Due within one year
Other debtors 92,266 3,641
6. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Trade creditors 1 (1 )
Other creditors 77,864 17,958
Taxation and social security 2,734 1,935
80,599 19,892
7. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 514,000 225,000
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