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Registered number: 10038493
The Level Collective Limited
ABRIDGED Financial Statements
For The Year Ended 31 March 2024
Nicholson Tax & Accounts
8 Chapel Street
Belper
DE56 1AR
Contents
Page
Abridged Balance Sheet 1—2
Notes to the Abridged Financial Statements 3—4
Page 1
Abridged Balance Sheet
Registered number: 10038493
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 4,076 4,768
4,076 4,768
CURRENT ASSETS
Stocks 16,815 21,034
Debtors 5 1,324 132
Cash at bank and in hand 1,496 26,159
19,635 47,325
Creditors: Amounts Falling Due Within One Year (14,337 ) (20,297 )
NET CURRENT ASSETS (LIABILITIES) 5,298 27,028
TOTAL ASSETS LESS CURRENT LIABILITIES 9,374 31,796
NET ASSETS 9,374 31,796
CAPITAL AND RESERVES
Called up share capital 6 100 100
Profit and Loss Account 9,274 31,696
SHAREHOLDERS' FUNDS 9,374 31,796
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For the year ending 31 March 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.
All of the company's members have consented to the preparation of an Abridged Balance Sheet for the year end 31 March 2024 in accordance with section 444(2A) of the Companies Act 2006.
On behalf of the board
Mr Mark Musgrave
Director
7th November 2024
The notes on pages 3 to 4 form part of these financial statements.
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Page 3
Notes to the Abridged Financial Statements
1. General Information
The Level Collective Limited is a private company, limited by shares, incorporated in England & Wales, registered number 10038493 . The registered office is 3 Claremont Road, Redruth, Cornwall, TR15 1LP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

2.2. Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
2.3. Tangible Fixed Assets and Depreciation
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Motor Vehicles 25% on reducing balance
Computer Equipment 33% on cost
2.4. Stocks and Work in Progress
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
2.5. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
Grants for immediate financial support or to cover costs already incurred are recognised immediately in the profit and loss account. Grants towards general activities of the entity over a specific period are recognised in the profit and loss account over that period.
Grants towards fixed assets are recognised over the expected useful lives of the related assets and are treated as deferred income and released to the profit and loss account over the useful life of the asset concerned.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 2 (2023: 1)
2 1
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4. Tangible Assets
Total
£
Cost
As at 1 April 2023 13,048
Additions 750
As at 31 March 2024 13,798
Depreciation
As at 1 April 2023 8,280
Provided during the period 1,442
As at 31 March 2024 9,722
Net Book Value
As at 31 March 2024 4,076
As at 1 April 2023 4,768
5. Debtors
2024 2023
£ £
Due after more than one year
6. Share Capital
2024 2023
£ £
Allotted, Called up and fully paid 100 100
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