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REGISTERED NUMBER: 10665361 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LEVEL BEST CONCRETE FLOORING LIMITED

LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

CONTENTS OF THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEVEL BEST CONCRETE FLOORING LIMITED

COMPANY INFORMATION
for the Year Ended 31 March 2024







DIRECTORS: Mrs L Wilcox
J R H Wilcox





REGISTERED OFFICE: Croft Farm
Swinefleet
Goole
DN14 8DW





REGISTERED NUMBER: 10665361 (England and Wales)





ACCOUNTANTS: Sowerby
Chartered Accountants
Beckside Court
Annie Reed Road
Beverley
East Yorkshire
HU17 0LF

LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

BALANCE SHEET
31 March 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 1,382,644 1,068,740

CURRENT ASSETS
Stocks 5 1,080,678 1,262,053
Debtors 6 744,197 482,377
Cash at bank and in hand 239,744 500,966
2,064,619 2,245,396
CREDITORS
Amounts falling due within one year 7 1,706,142 1,892,711
NET CURRENT ASSETS 358,477 352,685
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,741,121

1,421,425

CREDITORS
Amounts falling due after more than one year 8 (385,952 ) (267,505 )

PROVISIONS FOR LIABILITIES (325,451 ) (226,462 )
NET ASSETS 1,029,718 927,458

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 1,029,618 927,358
1,029,718 927,458

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.

LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

BALANCE SHEET - continued
31 March 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 4 October 2024 and were signed on its behalf by:





J R H Wilcox - Director


LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

NOTES TO THE FINANCIAL STATEMENTS
for the Year Ended 31 March 2024


1. STATUTORY INFORMATION

Level Best Concrete Flooring Limited is a private company limited by shares and incorporated and domiciled in England. It has its registered office and principal place of business at Croft Farm, Swinefleet, Goole, DN14 8DW.

The principal activity of the company in the period under review was that of the laying of new, and the repairing of existing, concrete floors.

The presentational currency of the financial statements is Pound Sterling (£).

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.

Having regard to liquidity risk, current market conditions and other factors affecting the company including the impact of Covid-19, the use of the going concern basis of accounting is appropriate as, in the opinion of the directors, there are no material uncertainties related to events or conditions that may cast significant doubt about the ability of the company to continue as a going concern.

Turnover
Turnover is the amount derived from ordinary activities, measured at the fair value of the consideration received or receivable. Turnover excludes value added tax and trade discounts.

Turnover from the sale of goods is recognised at the point of sale.

Turnover from services is recognised on completion of service, or when those services span the year end date, by reference to the stage of completion at the balance sheet date.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.
Plant and machinery - 15% on reducing balance
Motor vehicles - 25% on a reducing balance basis
Computer equipment - 33.3% on cost

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses.

Stocks
Stock are stated at the lower of cost, using the first in first out method, and selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacture/completion.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 balance sheet date.


LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

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 balance sheet 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.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2023 - 10 ) .

4. TANGIBLE FIXED ASSETS
Plant and Motor Computer
machinery vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 1,029,667 713,142 7,617 1,750,426
Additions 339,300 478,889 569 818,758
Disposals (129,325 ) (318,347 ) - (447,672 )
At 31 March 2024 1,239,642 873,684 8,186 2,121,512
DEPRECIATION
At 1 April 2023 400,961 274,176 6,549 681,686
Charge for year 162,173 157,509 874 320,556
Eliminated on disposal (75,375 ) (187,999 ) - (263,374 )
At 31 March 2024 487,759 243,686 7,423 738,868
NET BOOK VALUE
At 31 March 2024 751,883 629,998 763 1,382,644
At 31 March 2023 628,706 438,966 1,068 1,068,740

The net book value of tangible fixed assets includes £ 1,030,579 (2023 - £ 655,806 ) in respect of assets held under hire purchase contracts.

LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


5. STOCKS
2024 2023
£    £   
Stocks 50,000 45,800
Work-in-progress 1,030,678 1,216,253
1,080,678 1,262,053

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 487,204 346,186
VAT 172,595 62,629
Prepayments 84,398 73,562
744,197 482,377

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 411,396 254,190
Trade creditors 819,145 811,150
Amounts owed to group undertakings 249,301 286,188
Tax - 40,609
Social security and other taxes 64,294 50,640
Other creditors 41,652 50,256
Other loans 50,000 50,000
Accrued expenses 70,354 349,678
1,706,142 1,892,711

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Hire purchase contracts 323,452 155,005
Other loans 62,500 112,500
385,952 267,505

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 734,848 409,195

LEVEL BEST CONCRETE FLOORING LIMITED (REGISTERED NUMBER: 10665361)

NOTES TO THE FINANCIAL STATEMENTS - continued
for the Year Ended 31 March 2024


10. RELATED PARTY DISCLOSURES

During the year the company paid the following amounts to its parent company

20242023
££
Rent28,80028,800
Management charge120,000120,000
Equipment hire201,600201,600

The amount due to Level Best Holdings Limited is shown in the notes to the accounts.

11. ULTIMATE CONTROLLING PARTY

The Company is controlled by the Directors.