IRIS Accounts Production v24.3.0.553 09976485 director 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh099764852023-03-31099764852024-03-31099764852023-04-012024-03-31099764852022-03-31099764852022-04-012023-03-31099764852023-03-3109976485ns15:EnglandWales2023-04-012024-03-3109976485ns14:PoundSterling2023-04-012024-03-3109976485ns10:Director12023-04-012024-03-3109976485ns10:PrivateLimitedCompanyLtd2023-04-012024-03-3109976485ns10:SmallEntities2023-04-012024-03-3109976485ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3109976485ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3109976485ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3109976485ns10:FullAccounts2023-04-012024-03-3109976485ns10:RegisteredOffice2023-04-012024-03-3109976485ns5:CurrentFinancialInstruments2024-03-3109976485ns5:CurrentFinancialInstruments2023-03-3109976485ns5:ShareCapital2024-03-3109976485ns5:ShareCapital2023-03-3109976485ns5:RetainedEarningsAccumulatedLosses2024-03-3109976485ns5:RetainedEarningsAccumulatedLosses2023-03-3109976485ns5:FurnitureFittings2023-04-012024-03-3109976485ns5:MotorVehicles2023-04-012024-03-3109976485ns5:ComputerEquipment2023-04-012024-03-3109976485ns5:FurnitureFittings2023-03-3109976485ns5:MotorVehicles2023-03-3109976485ns5:ComputerEquipment2023-03-3109976485ns5:FurnitureFittings2024-03-3109976485ns5:MotorVehicles2024-03-3109976485ns5:ComputerEquipment2024-03-3109976485ns5:FurnitureFittings2023-03-3109976485ns5:MotorVehicles2023-03-3109976485ns5:ComputerEquipment2023-03-3109976485ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3109976485ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-31
REGISTERED NUMBER: 09976485 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

Lev3l Products Limited

Lev3l Products Limited (Registered number: 09976485)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 4


Lev3l Products Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: R A Vernon





REGISTERED OFFICE: Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ





REGISTERED NUMBER: 09976485 (England and Wales)





ACCOUNTANTS: Thompsons Accountancy Services Limited
Chartered Accountants
Grove House
1 Grove Place
Bedford
Bedfordshire
MK40 3JJ

Lev3l Products Limited (Registered number: 09976485)

Statement of Financial Position
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 5 67,559 11,967

CURRENT ASSETS
Stocks 6 35,644 289,211
Debtors 7 303,226 189,076
Cash at bank 606,518 520,730
945,388 999,017
CREDITORS
Amounts falling due within one year 8 905,843 856,772
NET CURRENT ASSETS 39,545 142,245
TOTAL ASSETS LESS CURRENT
LIABILITIES

107,104

154,212

PROVISIONS FOR LIABILITIES 16,890 2,274
NET ASSETS 90,214 151,938

CAPITAL AND RESERVES
Allotted, called up and fully
paid share capital 100 100
Retained earnings 90,114 151,838
SHAREHOLDERS' FUNDS 90,214 151,938

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 director acknowledges his 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.

Lev3l Products Limited (Registered number: 09976485)

Statement of Financial Position - 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 director and authorised for issue on 15 November 2024 and were signed by:





R A Vernon - Director


Lev3l Products Limited (Registered number: 09976485)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Lev3l Products 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.

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


2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention.

Turnover
Turnover represents net invoiced sales of products 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.
Fixtures and fittings - 20% on cost
Motor vehicles - 25% on cost
Computer equipment - 33% 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 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 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.

4. EMPLOYEES AND DIRECTORS

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

Lev3l Products Limited (Registered number: 09976485)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

5. TANGIBLE FIXED ASSETS
Fixtures
and Motor Computer
fittings vehicles equipment Totals
£    £    £    £   
COST
At 1 April 2023 993 9,417 12,697 23,107
Additions - 63,023 4,859 67,882
Disposals - (9,417 ) - (9,417 )
At 31 March 2024 993 63,023 17,556 81,572
DEPRECIATION
At 1 April 2023 348 5,280 5,512 11,140
Charge for year 198 5,618 4,102 9,918
Eliminated on disposal - (7,045 ) - (7,045 )
At 31 March 2024 546 3,853 9,614 14,013
NET BOOK VALUE
At 31 March 2024 447 59,170 7,942 67,559
At 31 March 2023 645 4,137 7,185 11,967

6. STOCKS
31.3.24 31.3.23
£    £   
Stocks 35,644 289,211

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 196,420 166,002
Amounts owed by group undertakings - 180
Other debtors 61,235 100
Tax 10,117 -
R&D tax claim recoverable 28,426 18,694
Prepayments 7,028 4,100
303,226 189,076

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade creditors 11,498 78,271
Amounts owed to group undertakings 702,033 702,033
Tax - 28,810
Social security and other taxes 292 (1,284 )
VAT 13,353 11,094
Other creditors 124,298 2,560
Directors' current accounts 44,534 30,002
Accrued expenses 9,835 5,286
905,843 856,772