Company Registration No. 14123649 (England and Wales)
Levy Property Holdings Ltd
Unaudited accounts
for the year ended 31 May 2024
Levy Property Holdings Ltd
Unaudited accounts
Contents
Levy Property Holdings Ltd
Company Information
for the year ended 31 May 2024
Directors
Mrs B C Levy
Mr G S Levy
Company Number
14123649 (England and Wales)
Registered Office
Whitfield House, St. Johns Road
Meadowfield Industrial Estate
Durham
DH7 8XL
England
Accountants
Accountants For The Trade (Durham) Ltd
Whitfield House
St Johns Road
Meadowfield Industrial Estate
Durham
DH7 8XL
Levy Property Holdings Ltd
Statement of financial position
as at 31 May 2024
Tangible assets
59,362
47,325
Investment property
5,257,500
5,257,500
Cash at bank and in hand
21,855
82,004
Creditors: amounts falling due within one year
(11,002)
(54,999)
Net current assets
49,041
82,923
Total assets less current liabilities
5,365,903
5,387,748
Creditors: amounts falling due after more than one year
(2,005,632)
(2,000,000)
Net assets
3,360,271
3,387,748
Called up share capital
10,000
10,000
Share premium
3,394,617
3,394,617
Profit and loss account
(44,346)
(16,869)
Shareholders' funds
3,360,271
3,387,748
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 members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 10 January 2025 and were signed on its behalf by
Mrs B C Levy
Director
Company Registration No. 14123649
Levy Property Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
Levy Property Holdings Ltd is a private company, limited by shares, registered in England and Wales, registration number 14123649. The registered office is Whitfield House, St. Johns Road, Meadowfield Industrial Estate , Durham, DH7 8XL, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
20% Reducing Balance
Fixtures & fittings
20% Reducing Balance
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Investment property is included at market fair value. Gains are recognised in the income statement. Deferred taxation is provided on these gains at the rate expected to apply when the property is sold.
Levy Property Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 June 2023
45,952
-
8,344
-
54,296
Additions
155
13,517
12,197
214
26,083
At 31 May 2024
46,107
13,517
20,541
214
80,379
At 1 June 2023
5,858
-
1,113
-
6,971
Charge for the year
8,047
2,534
3,429
36
14,046
At 31 May 2024
13,905
2,534
4,542
36
21,017
At 31 May 2024
32,202
10,983
15,999
178
59,362
At 31 May 2023
40,094
-
7,231
-
47,325
Fair value at 1 June 2023
5,257,500
Amounts falling due within one year
Trade debtors
38,188
55,918
7
Creditors: amounts falling due within one year
2024
2023
Obligations under finance leases and hire purchase contracts
4,506
-
Trade creditors
1,273
4,096
Loans from directors
4,398
50,353
8
Creditors: amounts falling due after more than one year
2024
2023
Bank loans
2,000,000
2,000,000
Obligations under finance leases and hire purchase contracts
5,632
-
Allotted, called up and fully paid:
10,000 Ordinary shares of £1 each
10,000
10,000
Levy Property Holdings Ltd
Notes to the Accounts
for the year ended 31 May 2024
10
Average number of employees
During the year the average number of employees was 2 (2023: 2).