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REGISTERED NUMBER: 07136576 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2024

FOR

LEVITT ABITO LIMITED

LEVITT ABITO LIMITED (REGISTERED NUMBER: 07136576)






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




Page

Company information 1

Balance sheet 2

Notes to the financial statements 3


LEVITT ABITO LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







Directors: Mr J A Reader
Mrs S A Butler
Mr D J Finestein
Ms E C Price





Secretary: Vistra Cosec Limited





Registered office: c/o Infinity Asset Management LLP
4 Clippers Quay
Salford Quays
Manchester
M50 3BL





Registered number: 07136576 (England and Wales)






LEVITT ABITO LIMITED (REGISTERED NUMBER: 07136576)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £ £
FIXED ASSETS
Investments 4 1,985,936 1,997,936

CURRENT ASSETS
Debtors 5 14,498 13,793

CREDITORS
Amounts falling due within one year 6 (2,126,906 ) (2,111,429 )
NET CURRENT LIABILITIES (2,112,408 ) (2,097,636 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

(126,472

)

(99,700

)

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Retained earnings (127,472 ) (100,700 )
(126,472 ) (99,700 )

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 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.

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 11 March 2025 and were signed on its behalf by:





Mr J A Reader - Director


LEVITT ABITO LIMITED (REGISTERED NUMBER: 07136576)

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

1. STATUTORY INFORMATION

Levitt Abito 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 company’s functional and presentational currency is pounds sterling (GBP) and the financial statements have been rounded to the nearest pound (£).

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.

Preparation of consolidated financial statements
The financial statements contain information about Levitt Abito Limited as an individual company and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Investments in subsidiaries
Investemnt in subsidiaries are initially measured at cost and subsequently measured at cost less any accumulated impairment losses.

The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

Financial instruments
The company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into.

Basic financial liabilities
Basic financial liabilities, including creditors, and loans from fellow group companies are initially recognised at transaction price.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are initially recognised at transaction price.

Going concern
These accounts have been prepared on the going concern basis. The company is dependent on the support of its shareholders in order to meet its working capital requirements. The shareholders have provided assurance that they will continue support the company for a period that exceeds twelve months from the date of approval of these financial statements. On the basis of this assurance the directors believe that the company will continue to have sufficient funds in order to meet its financial liabilities as they fall due and that the going concern basis is appropriate.

3. EMPLOYEES AND DIRECTORS

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

LEVITT ABITO LIMITED (REGISTERED NUMBER: 07136576)

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

4. FIXED ASSET INVESTMENTS

2024 2023
£ £
Shares in group undertakings 123,024 123,024
Loans to group undertakings 1,862,912 1,874,912
1,985,936 1,997,936

Additional information is as follows:
Shares in
group
undertakings
£
Cost
At 1 April 2023
and 31 March 2024 123,024
Net book value
At 31 March 2024 123,024
At 31 March 2023 123,024

The company's investments at the Balance sheet date in the share capital of companies include the following:

Abito Limited
Registered office: UK
Nature of business: Property Development
%
Class of shares: holding
Ordinary 100.00

Clippers Quay (Salford) Management Company Limited
Registered office: UK
Nature of business: Dormant
%
Class of shares: holding
Ordinary 100.00

Clippers Quay 4 Limited
Registered office: UK
Nature of business: Buying and selling of own real estate
%
Class of shares: holding
Ordinary Shares 100.00
Loans to
group
undertakings
£
At 1 April 2023 1,874,912
Repayment in year (12,000 )
At 31 March 2024 1,862,912

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Other debtors 14,498 13,793

LEVITT ABITO LIMITED (REGISTERED NUMBER: 07136576)

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

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£ £
Trade creditors 2,340 15,960
Amounts owed to group undertakings 2,120,826 2,089,849
Other creditors 3,740 5,620
2,126,906 2,111,429

Included within creditors are the loans of £683,761 (2023: £683,761), £753,271 (2023: £722,294) and £683,794 (2023: £683,794) due to Infinity Number One Limited, Levitt UK Real Estate Limited and Levittsystems International Development Company Limited respectively. These loans are interest free, unsecured and repayable on demand.

7. POST BALANCE SHEET EVENTS

The intercompany balance of £2,028,835 due from Clippers Quay 4 Limited to Abito Limited has been distributed in specie to Levitt Abito after the financial year end, but prior to the date of approving these financial statements.

8. CONTROLLING PARTIES

Levitt Abito Limited is a joint venture between Infinity Number One Limited, LevittSystems International Development Corporation SL and Levitt UK Real Estate Limited.

The ultimate controlling party is The Tigom Trust.