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REGISTERED NUMBER: 04089166 (England and Wales)












Strategic Report, Report of the Directors and

Financial Statements

for the Year Ended 29 February 2024

for

Level Best Solutions Limited

Level Best Solutions Limited (Registered number: 04089166)






Contents of the Financial Statements
for the Year Ended 29 February 2024




Page

Company Information 1

Strategic Report 2

Report of the Directors 3

Statement of Directors' Responsibilities 4

Report of the Independent Auditors 5

Income Statement 9

Other Comprehensive Income 10

Statement of Financial Position 11

Statement of Changes in Equity 12

Statement of Cash Flows 13

Notes to the Statement of Cash Flows 14

Notes to the Financial Statements 16


Level Best Solutions Limited

Company Information
for the Year Ended 29 February 2024







DIRECTORS: N Hamilton
N Heasman



SECRETARY: N Hamilton



REGISTERED OFFICE: Unit 3 Fircroft Business Centre
Fircroft Way
Edenbridge
Kent
TN8 6EN



REGISTERED NUMBER: 04089166 (England and Wales)



SENIOR STATUTORY AUDITOR: Aidan Smyth



AUDITORS: Peter Hodgson & Co. Ltd. (Statutory Auditor)
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

Level Best Solutions Limited (Registered number: 04089166)

Strategic Report
for the Year Ended 29 February 2024

The directors present their strategic report for the year ended 29 February 2024.

REVIEW OF BUSINESS
The company enjoyed a successful trading performance for the year despite the ongoing supply chain issues, higher energy & living costs and global uncertainty.

Taking into account the overall state of the economy and business outlook, the company's performance was in line with expectations.

PRINCIPAL RISKS AND UNCERTAINTIES
The main risks and uncertainties that are facing the company are similar to those of most other trading companies i.e. uncertainty following Brexit, supply chain difficulties, rising costs & inflation and availability of sub-contract labour.

Currency fluctuations can have a bearing on material costs due to market movement. Risks have been traditionally avoided with bad debts and doubtful debts by careful credit control and contract selection.

FINANCIAL REVIEW
Turnover during the year amounted to £24.3m.

The gross profit rate was 8.3% and was mainly achieved through negotiating keener contract prices and better direct cost control.

Net profit before taxation in the year amounted to £259,570 compared to £165,822 in 2023 again mainly because of higher gross margins and better overall cost control.

The company's working capital position was £377,181 compared to £492,827 in 2023.

The company invested a further £21,116 in plant & equipment in the year.

Shareholders' funds amounted to £438,326 at the year end.

FUTURE PLANS
The company will continue to seek suitable opportunities and contracts within the commercial office fit out sector.

There are no short term plans for any changes to the nature of the company's current business model and the company is confident in the future outlook

ON BEHALF OF THE BOARD:





N Hamilton - Director


26 November 2024

Level Best Solutions Limited (Registered number: 04089166)

Report of the Directors
for the Year Ended 29 February 2024

The directors present their report with the financial statements of the company for the year ended 29 February 2024.

PRINCIPAL ACTIVITY
The principal activity of the company in the year under review was that of building construction, plumbing, plastering and joinery installation.

DIVIDENDS
The total distribution of dividends for the year to 28 February 2023 amounted to £70,900.

DIRECTORS
The directors shown below have held office during the whole of the period from 1 March 2023 to the date of this report.

N Hamilton
N Heasman

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS
So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he ought to have taken as a director in order to make himself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

ON BEHALF OF THE BOARD:





N Hamilton - Director


26 November 2024

Level Best Solutions Limited (Registered number: 04089166)

Statement of Directors' Responsibilities
for the Year Ended 29 February 2024

The directors are responsible for preparing the Strategic Report, the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law), including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'. Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

-select suitable accounting policies and then apply them consistently;
-make judgements and accounting estimates that are reasonable and prudent;
-prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Auditors to the Members of
Level Best Solutions Limited

Opinion
We have audited the financial statements of Level Best Solutions Limited (the 'company') for the year ended 29 February 2024 which comprise the Income Statement, Other Comprehensive Income, Statement of Financial Position, Statement of Changes in Equity, Statement of Cash Flows and Notes to the Statement of Cash Flows, Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
_
In our opinion the financial statements:
-give a true and fair view of the state of the company's affairs as at 29 February 2024 and of its profit for the year then ended;
-have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and
-have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information
The directors are responsible for the other information. The other information comprises the information in the Strategic Report, the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006
In our opinion, based on the work undertaken in the course of the audit:
- the information given in the Strategic Report and the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and
- the Strategic Report and the Report of the Directors have been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of
Level Best Solutions Limited


Matters on which we are required to report by exception
In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:
- adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or
- the financial statements are not in agreement with the accounting records and returns; or
- certain disclosures of directors' remuneration specified by law are not made; or
- we have not received all the information and explanations we require for our audit.

Responsibilities of directors
As explained more fully in the Statement of Directors' Responsibilities set out on page four, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of
Level Best Solutions Limited


Auditors' responsibilities for the audit of the financial statements
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

The objectives of our audit in respect of fraud are to identify and assess the risks of material misstatement of the financial statements due to fraud; to obtain sufficient appropriate audit evidence regarding the assessed risks of material misstatement due to fraud, through designing and implementing appropriate responses to those assessed risks and to respond appropriately to instances of fraud or suspected fraud identified during the audit. However, the primary responsibility for the prevention and detection of fraud rests with both management and those charged with governance of the company.

Our approach was as follows:
- we obtained an understanding of the legal and regulatory requirements applicable to the company.
- we obtained an understanding of how the company complies with these requirements through discussion with management and those charged with governance.
- we assessed the risk of material misstatement in the financial statements through discussions with management and those charged with governance.
- we enquired of management and those charged with governance of any known instances of non compliance with legal and regulatory requirements.
- based on this understanding, we designed specific and appropriate audit procedures to identify instances of non compliance to include discussions and obtaining additional corroborative evidence.


As part of the audit in accordance with ISAs (UK) we exercised professional judgement and scepticism throughout the audit. In addition, we also:

- identified and assessed the risks of material misstatement of the financial statements, whether due to fraud or error, designed and performed audit procedures consistent with those risks and obtained sufficient and relevant audit evidence to support and provide a basis for our opinion. The risk of misstatement from fraud is invariably higher than one resulting from error as fraud may involve collusion or intentional omissions and misrepresentations to override the systems of internal control.
- obtained an understanding of the internal controls relevant to the audit and designed
audit procedures and tests that were appropriate in the circumstances, but not for the purposes of expressing an opinion on the effectiveness of the company's internal controls.
- evaluated the appropriateness of the accounting policies used and the reasonableness of any accounting estimates and disclosures used and made by the directors.
- assessed the appropriateness of the directors' use of the going concern basis of accounting and based on the audit evidence obtained, whether any material uncertainty existed that may have cast doubt on the company's ability to continue as a going concern.
- evaluated the overall presentation, structure and content of the financial statements including disclosures and whether the financial statements represent the underlying transactions and events in a manner that achieved a fair presentation of the results for the period and the financial standing of the company at the year end.

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of
Level Best Solutions Limited


Use of our report
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.




Aidan Smyth (Senior Statutory Auditor)
for and on behalf of Peter Hodgson & Co. Ltd. (Statutory Auditor)
Chartered Accountants
Shadwell House
65 Lower Green Road
Tunbridge Wells
Kent
TN4 8TW

26 November 2024

Level Best Solutions Limited (Registered number: 04089166)

Income Statement
for the Year Ended 29 February 2024

2024 2023
Notes £    £   

REVENUE 24,285,592 25,297,451

Cost of sales 22,245,704 22,651,118
GROSS PROFIT 2,039,888 2,646,333

Administrative expenses 1,750,437 2,459,286
OPERATING PROFIT 4 289,451 187,047

Interest receivable and similar income 764 -
290,215 187,047

Interest payable and similar expenses 5 30,645 21,225
PROFIT BEFORE TAXATION 259,570 165,822

Tax on profit 6 83,485 44,414
PROFIT FOR THE FINANCIAL YEAR 176,085 121,408

Level Best Solutions Limited (Registered number: 04089166)

Other Comprehensive Income
for the Year Ended 29 February 2024

2024 2023
Notes £    £   

PROFIT FOR THE YEAR 176,085 121,408


OTHER COMPREHENSIVE INCOME - -
TOTAL COMPREHENSIVE INCOME
FOR THE YEAR

176,085

121,408

Level Best Solutions Limited (Registered number: 04089166)

Statement of Financial Position
29 February 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Property, plant and equipment 8 292,053 293,376

CURRENT ASSETS
Inventories 9 1,322,576 1,690,880
Debtors 10 1,543,344 2,716,512
Cash at bank 492,184 1,155,860
3,358,104 5,563,252
CREDITORS
Amounts falling due within one year 11 2,980,923 5,070,425
NET CURRENT ASSETS 377,181 492,827
TOTAL ASSETS LESS CURRENT
LIABILITIES

669,234

786,203

CREDITORS
Amounts falling due after more than one
year

12

(224,184

)

(448,745

)

PROVISIONS FOR LIABILITIES 14 (6,724 ) (4,317 )
NET ASSETS 438,326 333,141

CAPITAL AND RESERVES
Called up share capital 15 107 107
Retained earnings 16 438,219 333,034
SHAREHOLDERS' FUNDS 438,326 333,141

The financial statements were approved by the Board of Directors and authorised for issue on 26 November 2024 and were signed on its behalf by:





N Hamilton - Director


Level Best Solutions Limited (Registered number: 04089166)

Statement of Changes in Equity
for the Year Ended 29 February 2024

Called up
share Retained Total
capital earnings equity
£    £    £   
Balance at 1 March 2022 107 264,426 264,533

Changes in equity
Dividends - (52,800 ) (52,800 )
Total comprehensive income - 121,408 121,408
Balance at 28 February 2023 107 333,034 333,141

Changes in equity
Dividends - (70,900 ) (70,900 )
Total comprehensive income - 176,085 176,085
Balance at 29 February 2024 107 438,219 438,326

Level Best Solutions Limited (Registered number: 04089166)

Statement of Cash Flows
for the Year Ended 29 February 2024

2024 2023
Notes £    £   
Cash flows from operating activities
Cash generated from operations 1 (289,265 ) 1,620,788
Interest paid (30,645 ) (21,225 )
Tax paid (41,671 ) (14,290 )
Net cash from operating activities (361,581 ) 1,585,273

Cash flows from investing activities
Purchase of tangible fixed assets (21,116 ) (18,051 )
Interest received 764 -
Net cash from investing activities (20,352 ) (18,051 )

Cash flows from financing activities
Loan repayments in year (206,724 ) (264,749 )
Amount withdrawn by directors (6,540 ) -
Equity dividends paid (70,900 ) (52,800 )
Net cash from financing activities (284,164 ) (317,549 )

(Decrease)/increase in cash and cash equivalents (666,097 ) 1,249,673
Cash and cash equivalents at beginning of
year

2

1,129,682

(119,991

)

Cash and cash equivalents at end of year 2 463,585 1,129,682

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Statement of Cash Flows
for the Year Ended 29 February 2024

1. RECONCILIATION OF PROFIT BEFORE TAXATION TO CASH GENERATED FROM
OPERATIONS

2024 2023
£    £   
Profit before taxation 259,570 165,822
Depreciation charges 14,862 9,110
Loss on disposal of fixed assets 7,576 -
Finance costs 30,645 21,225
Finance income (764 ) -
311,889 196,157
Decrease in inventories 368,304 248,607
Decrease/(increase) in trade and other debtors 1,173,168 (578,586 )
(Decrease)/increase in trade and other creditors (2,142,626 ) 1,754,610
Cash generated from operations (289,265 ) 1,620,788

2. CASH AND CASH EQUIVALENTS

The amounts disclosed on the Statement of Cash Flows in respect of cash and cash equivalents are in respect of these Statement of Financial Position amounts:

Year ended 29 February 2024
29.2.24 1.3.23
£    £   
Cash and cash equivalents 492,184 1,155,860
Bank overdrafts (28,599 ) (26,178 )
463,585 1,129,682
Year ended 28 February 2023
28.2.23 1.3.22
£    £   
Cash and cash equivalents 1,155,860 28,000
Bank overdrafts (26,178 ) (147,991 )
1,129,682 (119,991 )


Level Best Solutions Limited (Registered number: 04089166)

Notes to the Statement of Cash Flows
for the Year Ended 29 February 2024

3. ANALYSIS OF CHANGES IN NET FUNDS

At 1.3.23 Cash flow At 29.2.24
£    £    £   
Net cash
Cash at bank 1,155,860 (663,676 ) 492,184
Bank overdrafts (26,178 ) (2,421 ) (28,599 )
1,129,682 (666,097 ) 463,585
Debt
Debts falling due within 1 year (68,540 ) (15,416 ) (83,956 )
Debts falling due after 1 year (448,745 ) 224,561 (224,184 )
(517,285 ) 209,145 (308,140 )
Total 612,397 (456,952 ) 155,445

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements
for the Year Ended 29 February 2024

1. STATUTORY INFORMATION

Level Best Solutions 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" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Significant judgements and estimates
There are no significant judgements or estimates pertaining to these accounts that the directors feel need to be brought to the attention of users of these accounts.

Turnover
Turnover is measured at fair value of the consideration received or receivable, excluding discounts, rebates and value added tax.

The company is engaged on long term contracts and the turnover figure includes an apportionment of value for work done to the balance sheet at cost plus attributable profit less any foreseeable losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on cost (buildings only)
Plant and machinery - 20% on reducing balance
Fixtures and fittings - 20% on reducing balance

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

Work in progress on long term contracts is valued at cost plus profit earned to the balance sheet date less provision for foreseeable losses.

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 statement of financial position date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

2. ACCOUNTING POLICIES - continued

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.

Financial instruments
Basic financial instruments comprising, debtors, bank and cash balances are recorded at fair value less any provision for impairment. .

Functional currency
The functional currency used by the company is £ Sterling.

3. EMPLOYEES AND DIRECTORS
2024 2023
£    £   
Wages and salaries 991,296 628,467
Social security costs 110,471 73,198
Other pension costs 9,850 8,346
1,111,617 710,011

The average number of employees during the year was as follows:
2024 2023

Administration 8 7
Project management & fulfilment 17 16
25 23

2024 2023
£    £   
Directors' remuneration 61,036 -

4. OPERATING PROFIT

The operating profit is stated after charging:

2024 2023
£    £   
Depreciation - owned assets 14,863 9,110
Loss on disposal of fixed assets 7,576 -
Auditors' remuneration 6,350 5,700

5. INTEREST PAYABLE AND SIMILAR EXPENSES
2024 2023
£    £   
Bank interest 30,645 21,225

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

6. TAXATION

Analysis of the tax charge
The tax charge on the profit for the year was as follows:
2024 2023
£    £   
Current tax:
UK corporation tax 81,078 41,671

Deferred tax 2,407 2,743
Tax on profit 83,485 44,414

Reconciliation of total tax charge included in profit and loss
The tax assessed for the year is higher than the standard rate of corporation tax in the UK. The difference is explained below:

2024 2023
£    £   
Profit before tax 259,570 165,822
Profit multiplied by the standard rate of corporation tax in the UK of 25%
(2023 - 19%)

64,893

31,506

Effects of:
Expenses not deductible for tax purposes 17,537 12,892
Depreciation in excess of capital allowances 858 16
Sale of fixed assets 1,879 -
Corporate tax rate adjustment (1,682 ) -
Total tax charge 83,485 44,414

7. DIVIDENDS
2024 2023
£    £   
Ordinary Shares shares of 1 each
Final 70,900 52,800

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

8. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Freehold Plant and and
property machinery fittings Totals
£    £    £    £   
COST
At 1 March 2023 281,601 124,848 19,191 425,640
Additions - 16,748 4,368 21,116
Disposals - (9,911 ) - (9,911 )
At 29 February 2024 281,601 131,685 23,559 436,845
DEPRECIATION
At 1 March 2023 10,948 104,236 17,080 132,264
Charge for year 5,500 8,390 973 14,863
Eliminated on disposal - (2,335 ) - (2,335 )
At 29 February 2024 16,448 110,291 18,053 144,792
NET BOOK VALUE
At 29 February 2024 265,153 21,394 5,506 292,053
At 28 February 2023 270,653 20,612 2,111 293,376

The freehold property purchase was funded by means of a mortgage with NatWest Bank Plc, the balance outstanding at the period end was £169,857.

9. INVENTORIES
2024 2023
£    £   
Stocks & work in progress 1,322,576 1,690,880

10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 1,454,409 2,554,552
Other debtors 1,125 600
Due from related parties 600 402
Directors' current accounts 6,540 -
VAT 80,382 158,133
Prepayments 288 2,825
1,543,344 2,716,512

11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 13) 112,555 94,718
Trade creditors 2,540,166 4,328,799
Corporation tax 81,078 41,671
Social security and other taxes 94,189 76,872
Due to related parties 139,260 517,955
Accruals and other creditors 13,675 10,410
2,980,923 5,070,425

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

12. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 13) 224,184 448,745

13. LOANS

The company has an overdraft facility with NatWest Bank Plc in the sum of £350,000 and a credit card facility of £50,000.

It also has a commercial mortgage with NatWest Bank Plc which is secured on the company's freehold premises, the balance at the period end was £169,857.

Bank borrowings with NatWest Bank Plc are secured by way of debenture and legal charge over all the company's assets.

In addition, the company had business loans outstanding at the period end as follows:

£138,283 - IWOCA CIBLS loan

The total value of all loans outstanding at the period end amounted to £308,140 with repayments due as follows:

£83,956 due within one year
£224,184 due after one year

.

14. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 6,724 4,317

Deferred
tax
£   
Balance at 1 March 2023 4,317
Provided during year 2,407
Balance at 29 February 2024 6,724

15. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
107 Ordinary Shares 1 107 107

The issued share capital of the company comprises 100 ordinary A shares, 4 ordinary B shares, 1 ordinary C share, 1 ordinary D share and 1 ordinary E share.

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

16. RESERVES
Retained
earnings
£   

At 1 March 2023 333,034
Profit for the year 176,085
Dividends (70,900 )
At 29 February 2024 438,219

17. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

2024 2023
£    £   
N Heasman
Balance outstanding at start of year - -
Amounts advanced 6,540 -
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 6,540 -

The directors loan due from N Heasman was repaid after the year end.

18. ULTIMATE CONTROLLING PARTY

The company is controlled by the directors N Heasman and N Hamilton who own the majority of the shares.

19. BANK OVERDRAFT FACILITY

The company has a bank overdraft facility of £350,000 and a credit card facility of £50,000.

These facilities are secured by a debenture dated 3 September 2008 in favour of NatWest bank over all the company's assets.

Level Best Solutions Limited (Registered number: 04089166)

Notes to the Financial Statements - continued
for the Year Ended 29 February 2024

20. RELATED PARTY DISCLOSURES

At the period end, the company owed the following amounts to related parties:

£139,260 - Hamilton Contracts Limited

At the period end, the company was owed the following amounts by related parties:

£600 - Fire Proof Solutions Limited

Fire Proof Solutions Limited is a company owned and controlled by N Heasman and N Hamilton who are both directors and shareholders in the company.

The company paid management fees during the period in the sum of £867,200 to Hamilton Contracts Limited and Jonic Ventures Limited.

Hamilton Contracts Limited is controlled by N Hamilton, a director and shareholder in the company.

Jonic Ventures Limited is controlled by N Heasman, a director and shareholder in the company.