Registration number:
Prepared for the registrar
for the
Period from 23 September 2023 to 31 October 2024
Levante Futures Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Levante Futures Limited
Company Information
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Directors |
A Kemmish M Kemmish |
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Company secretary |
T Dawe |
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Registered office |
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Accountants |
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Levante Futures Limited
(Registration number: 15158167)
Balance Sheet as at 31 October 2024
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Note |
2024 |
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Fixed assets |
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Tangible assets |
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Investments |
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Current assets |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current assets |
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Total assets less current liabilities |
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Deferred tax liabilities |
(43,456) |
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Net assets |
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Capital and reserves |
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Called up share capital |
1,450 |
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Retained earnings |
1,982,347 |
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Shareholders' funds |
1,983,797 |
For the financial period ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Director
Director
Levante Futures Limited
Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 October 2024
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General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office is:
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except for, where disclosed in these accounting policies, certain items that are shown at fair value.
The presentational currency of the financial statements is Pounds Sterling, being the functional currency of the primary economic environment in which the company operates. Monetary amounts in these financial statements are rounded to the nearest Pound.
Going concern
After reviewing the company's forecasts and projections, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.
Critical accounting judgements and key sources of estimation uncertainty
In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.
The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods.
Judgements
No significant judgements have been made by management in preparing these financial statements. |
Key sources of estimation uncertainty
No key sources of estimation uncertainty have been identified by management in preparing these financial statements other than those detailed in these accounting policies.
Tax
The tax expense for the period comprises current and deferred tax. Tax is recognised in the profit and loss account, except that a charge attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.
The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.
Levante Futures Limited
Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 October 2024
Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
Tangible assets
Tangible assets are stated in the statement of financial position at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Business combinations
Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.
Investments
Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.
Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
Dividends
Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.
Financial instruments
Classification
Recognition and measurement
Levante Futures Limited
Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 October 2024
Impairment
A non financial asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.
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Staff numbers |
The average number of persons employed by the company (including directors) during the period, was as follows:
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23 September 2023 to 31 October 2024 |
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Average number of employees |
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Tangible assets |
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Land and buildings |
Total |
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Cost |
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Additions |
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At 31 October 2024 |
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Carrying amount |
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At 31 October 2024 |
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Included within the net book value of land and buildings above is £891,509 in respect of freehold land and buildings.
The directors are of the opinion that the market value of the freehold property has not materially changed since its acquisition.
On 31 October 2023, St Boniface Veterinary Clinic Limited transferred the freehold property to the parent company Levante Futures Limited for £1,069,811 via a dividend in specie.
Levante Futures Limited
Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 October 2024
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Investments |
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2024 |
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Investments in subsidiaries |
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Subsidiaries |
£ |
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Cost |
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Additions |
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Provision |
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Carrying amount |
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At 31 October 2024 |
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Details of undertakings
Details of the investments (including principal place of business of unincorporated entities) in which the company holds 20% or more of the nominal value of any class of share capital are as follows:
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Undertaking |
Registered office |
Holding |
Proportion of voting rights and shares held |
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2024 |
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Subsidiary undertakings |
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England |
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Subsidiary undertakings |
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St Boniface Veterinary Clinic Limited The principal activity of St Boniface Veterinary Clinic Limited is |
On 31 October 2023 the company issued 1,010 Ordinary A shares of £1 each and 440 Ordinary B Shares of £1 each in consideration for the transfer of the entire share capital of St Boniface Veterinary Clinic Limited.
On 21 December 2023, St Boniface Veterinary Clinic Limited issued 4 Ordinary C shares of £1 each and 1 Ordinary D share of £1 each.
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Creditors |
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2024 |
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Due within one year |
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Taxation and social security |
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Accruals and deferred income |
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Levante Futures Limited
Notes to the Unaudited Financial Statements for the Period from 23 September 2023 to 31 October 2024
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Deferred tax |
Deferred tax assets and liabilities
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2024 |
Liability |
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Difference between accumulated depreciation and amortisation and capital allowances |
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Share capital |
Allotted, called up and fully paid shares
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31 October 2024 |
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No. |
£ |
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Ordinary A shares £1 each of £1 each |
1,010 |
1,010 |
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Ordinary B shares £1 each of £1 each |
440 |
440 |
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The different classes of shares referred to above carry separate rights to dividends, but in all other significant respects rank pari passu.
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Related party transactions |
Summary of transactions with key management