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REGISTERED NUMBER: 00476593 (England and Wales)








FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024

FOR

LEVITT'S (FARMERS) LIMITED

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


LEVITT'S (FARMERS) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: G R Levitt
G C Levitt





REGISTERED OFFICE: Wrangmandale Wold
Beverley Road
North Newbald
Beverley
East Yorkshire
YO43 4SQ





REGISTERED NUMBER: 00476593 (England and Wales)





ACCOUNTANTS: Jackson Robson Licence Limited
33-35 Exchange Street
Driffield
East Yorkshire
YO25 6LL

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 887,646 858,692

CURRENT ASSETS
Stocks 310,776 303,852
Debtors 5 81,199 45,573
Cash at bank 101,122 112,087
493,097 461,512
CREDITORS
Amounts falling due within one year 6 286,509 320,690
NET CURRENT ASSETS 206,588 140,822
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,094,234

999,514

CREDITORS
Amounts falling due after more than one
year

7

(587,837

)

(609,041

)

PROVISIONS FOR LIABILITIES 8 (109,639 ) (66,550 )
NET ASSETS 396,758 323,923

CAPITAL AND RESERVES
Called up share capital 200 200
Retained earnings 9 396,558 323,723
SHAREHOLDERS' FUNDS 396,758 323,923

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 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.

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

BALANCE SHEET - continued
31 JANUARY 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 23 October 2024 and were signed on its behalf by:




G R Levitt - Director



G C Levitt - Director


LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1. STATUTORY INFORMATION

Levitt's (Farmers) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents net invoiced sales of goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Farm buildings - 2% on cost
Plant and machinery - 20% on reducing balance
Motor vehicles - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Freehold Farm Plant and Motor
land buildings machinery vehicles Totals
£    £    £    £    £   
COST
At 1 February 2023 259,336 348,149 1,122,702 1,667 1,731,854
Additions - - 183,489 - 183,489
Disposals - - (55,000 ) - (55,000 )
At 31 January 2024 259,336 348,149 1,251,191 1,667 1,860,343
DEPRECIATION
At 1 February 2023 - 99,452 772,438 1,272 873,162
Charge for year - 6,960 92,476 99 99,535
At 31 January 2024 - 106,412 864,914 1,371 972,697
NET BOOK VALUE
At 31 January 2024 259,336 241,737 386,277 296 887,646
At 31 January 2023 259,336 248,697 350,264 395 858,692

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 80,769 39,811
VAT - 4,873
Prepayments 430 889
81,199 45,573

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts 38,154 34,228
Bounce back loan scheme 24,167 34,167
Hire purchase contracts 53,633 40,213
Trade creditors 142,372 190,014
Tax 22,146 17,645
VAT 2,905 -
Directors' current accounts 412 1,750
Accrued expenses 2,720 2,673
286,509 320,690

LEVITT'S (FARMERS) LIMITED (REGISTERED NUMBER: 00476593)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans - 1-2 years 38,879 34,953
Bank loans - 2-5 years 121,305 109,527
Bank loans due after more
than 5 year by instalments 361,185 415,042
Hire purchase contracts 66,468 49,519
587,837 609,041

Amounts falling due in more than five years:

Repayable by instalments
Bank loans due after more
than 5 year by instalments 361,185 415,042
361,185 415,042

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 109,639 66,550

Deferred
tax
£   
Balance at 1 February 2023 66,550
Movement in the year 43,089
Balance at 31 January 2024 109,639

9. RESERVES
Retained
earnings
£   

At 1 February 2023 323,723
Profit for the year 118,695
Dividends (45,860 )
At 31 January 2024 396,558

10. ULTIMATE CONTROLLING PARTY

The controlling party is G C Levitt.

The ultimate controlling party is G C Levitt.