Company Registration No. 10897302 (England and Wales)
LEVANTE ENERGY GROUP LTD
Unaudited accounts
for the year ended 31 August 2024
LEVANTE ENERGY GROUP LTD
Unaudited accounts
Contents
LEVANTE ENERGY GROUP LTD
Company Information
for the year ended 31 August 2024
Directors
M G McCulloch
R Scott
R J W Allen
Company Number
10897302 (England and Wales)
Registered Office
Flat 17, St Vincent Court
The Strand, Brighton Marina Village
Brighton
BN2 5XJ
Utd Kingdom
Accountants
Meredith GB Consultants Ltd
49 Westerham Road
Bessels Green
Sevenoaks
Kent
TN13 2QB
LEVANTE ENERGY GROUP LTD
Statement of financial position
as at 31 August 2024
Investment property
95,000
95,000
Cash at bank and in hand
2
2
Creditors: amounts falling due within one year
(226,564)
(225,844)
Net current liabilities
(65,675)
(64,955)
Total assets less current liabilities
29,325
30,061
Creditors: amounts falling due after more than one year
(47,500)
(47,500)
Net liabilities
(18,175)
(17,439)
Called up share capital
100
100
Profit and loss account
(18,275)
(17,539)
Shareholders' funds
(18,175)
(17,439)
For the year ending 31 August 2024 the company was entitled to exemption from audit under section 480 of the Companies Act 2006 relating to dormant 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 4 May 2025 and were signed on its behalf by
M G McCulloch
Director
Company Registration No. 10897302
LEVANTE ENERGY GROUP LTD
Notes to the Accounts
for the year ended 31 August 2024
LEVANTE ENERGY GROUP LTD is a private company, limited by shares, registered in England and Wales, registration number 10897302. The registered office is Flat 17, St Vincent Court, The Strand, Brighton Marina Village, Brighton, BN2 5XJ, Utd Kingdom.
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.
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.
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:
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.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
The accounts are presented in £ sterling.
The directors have confirmed that they will continue to give financial support to the company until such time as its position improves.
Adverse trading conditions and delays to funding have meant that the Company is yet to become operational. The directors have confirmed that they will not recall their loans within the next 12 months.
The directors consider that it is appropriate to prepare the financial statements on a going concern basis. The financial statements do not include any adjustments that would result if any financial support were withdrawn.
LEVANTE ENERGY GROUP LTD
Notes to the Accounts
for the year ended 31 August 2024
4
Tangible fixed assets
Fixtures & fittings
Fair value at 1 September 2023
95,000
Amounts falling due within one year
Other debtors
160,887
160,887
7
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
2,500
2,500
Other creditors
43,438
43,189
Loans from directors
178,966
178,995
Other loans totalling £43438 (2023: £43189) are unsecured, accrue no interest and have no fixed date for repayment. They are deemed by the directors to be payable upon demand.
LEVANTE ENERGY GROUP LTD
Notes to the Accounts
for the year ended 31 August 2024
8
Creditors: amounts falling due after more than one year
2024
2023
Aggregate of amounts that fall due for payment after five years
7,500
7,500
Long term creditors are comprised of one loan:
Barclays Coronavirus Loan of £50000 taken out in 2020; where the loan is over 6 years with no repayments payable in the first year and interest is at a fixed rate of 2.5%. The loan is underwritten by the Government. Total falling due after 5 years is £7500 (2022: £7500). Repayments against the loan have been deferred until July 2025.
9
Average number of employees
During the year the average number of employees was 3 (2023: 3).