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Registered number: SC731753
Levant Investment Limited
Financial Statements
For The Year Ended 31 May 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—4
Page 1
Balance Sheet
Registered number: SC731753
31 May 2024 31 May 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 251,896 251,896
251,896 251,896
CURRENT ASSETS
Cash at bank and in hand 14,772 10,312
14,772 10,312
Creditors: Amounts Falling Due Within One Year 5 (259,375 ) (258,766 )
NET CURRENT ASSETS (LIABILITIES) (244,603 ) (248,454 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,293 3,442
NET ASSETS 7,293 3,442
CAPITAL AND RESERVES
Called up share capital 6 1 1
Profit and Loss Account 7,292 3,441
SHAREHOLDERS' FUNDS 7,293 3,442
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For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his 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
Mr Ahmed Elsayed
Director
16/09/2024
The notes on pages 3 to 4 form part of these financial statements.
Page 2
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Notes to the Financial Statements
1. General Information
Levant Investment Limited is a private company, limited by shares, incorporated in Scotland, registered number SC731753 . The registered office is 1205 Granary Quay, 365 Glasgow Harbour Terraces, Glasgow, G11 6FG.
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. Turnover represents rental income receivable.
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:
2.4. Investment Properties
Investment properties are included at a valuation of £251,896 at 31 May 2024 (2023: £251,896). This valuation is based on an assessment of open market value of the proerty as determined by the director based on a review of locan property trends.
2.5. Taxation
Income tax expense represents the sum of the tax currently payable.
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.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
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4. Tangible Assets
Investment Properties
£
Cost
As at 1 June 2023 251,896
As at 31 May 2024 251,896
Net Book Value
As at 31 May 2024 251,896
As at 1 June 2023 251,896
5. Creditors: Amounts Falling Due Within One Year
31 May 2024 31 May 2023
£ £
Other creditors 257,299 256,786
Taxation and social security 2,076 1,980
259,375 258,766
6. Share Capital
31 May 2024 31 May 2023
£ £
Allotted, Called up and fully paid 1 1
7. Dividends
31 May 2024 31 May 2023
£ £
On equity shares:
Final dividend paid 5,000 5,000
8. Related Party Transactions
At the year end £256,729 (2023:  £255,765) is due to director and is shown within creditors due within one year. There are no fixed repayment terms for the director's current account, and no interest is paid on the outstanding amount.
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