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REGISTERED NUMBER: SC249865 (Scotland)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Levant Ltd

Levant Ltd (Registered number: SC249865)






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




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Levant Ltd

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mr Jasvinder Shergill
Mrs Manjit K Shergill





SECRETARY: Mr Jasvinder Shergill





REGISTERED OFFICE: 57 Ivanhoe Road
Paisley
PA2 0JZ





REGISTERED NUMBER: SC249865 (Scotland)





ACCOUNTANTS: Stevenson & Kyles
Chartered Accountants
25 Sandyford Place
Glasgow
G3 7NG

Levant Ltd (Registered number: SC249865)

Balance Sheet
31 October 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 166,480 249,716
Tangible assets 5 59,209 84,814
225,689 334,530

CURRENT ASSETS
Stock 124,000 118,000
Debtors 6 338,089 201,220
Cash at bank and in hand 266,591 420,028
728,680 739,248
CREDITORS
Amounts falling due within one year 7 467,385 474,518
NET CURRENT ASSETS 261,295 264,730
TOTAL ASSETS LESS CURRENT
LIABILITIES

486,984

599,260

PROVISIONS FOR LIABILITIES 8 11,250 16,115
NET ASSETS 475,734 583,145

CAPITAL AND RESERVES
Called up share capital 9 2 2
Retained earnings 475,732 583,143
SHAREHOLDERS' FUNDS 475,734 583,145

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 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.

Levant Ltd (Registered number: SC249865)

Balance Sheet - continued
31 October 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 Board of Directors and authorised for issue on 23 July 2025 and were signed on its behalf by:





Mr Jasvinder Shergill - Director


Levant Ltd (Registered number: SC249865)

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

1. STATUTORY INFORMATION

Levant Ltd is a private company, limited by shares , registered in Scotland. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible fixed assets
Goodwill, is being amortised evenly from 1/11/2016 at 10% per annum on a straight line basis.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Fittings and equipment - 15% on reducing balance
Motor vehicles - 25% on reducing balance
Computer equipment - 25% on cost

Stock
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Financial instruments
Basic financial instruments, including debtors and creditors with no stated interest rate and receivable or payable within one year, are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in administrative expenses.

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 balance sheet date.


Levant Ltd (Registered number: SC249865)

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

2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 38 (2023 - 35 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 November 2023
and 31 October 2024 1,278,185
AMORTISATION
At 1 November 2023 1,028,469
Amortisation for year 83,236
At 31 October 2024 1,111,705
NET BOOK VALUE
At 31 October 2024 166,480
At 31 October 2023 249,716

Levant Ltd (Registered number: SC249865)

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

5. TANGIBLE FIXED ASSETS
Fittings
and Motor Computer
equipment vehicles equipment Totals
£    £    £    £   
COST
At 1 November 2023 204,980 41,030 48,800 294,810
Additions 749 - 1,124 1,873
Disposals - (30,094 ) - (30,094 )
At 31 October 2024 205,729 10,936 49,924 266,589
DEPRECIATION
At 1 November 2023 143,478 22,056 44,462 209,996
Charge for year 9,337 441 2,500 12,278
Eliminated on disposal - (14,894 ) - (14,894 )
At 31 October 2024 152,815 7,603 46,962 207,380
NET BOOK VALUE
At 31 October 2024 52,914 3,333 2,962 59,209
At 31 October 2023 61,502 18,974 4,338 84,814

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 296,053 155,730
Other debtors 42,036 45,490
338,089 201,220

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 396,944 412,734
Taxation and social security 62,251 56,079
Other creditors 8,190 5,705
467,385 474,518

8. PROVISIONS FOR LIABILITIES
2024 2023
£    £   
Deferred tax 11,250 16,115

Levant Ltd (Registered number: SC249865)

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

8. PROVISIONS FOR LIABILITIES - continued

Deferred
tax
£   
Balance at 1 November 2023 16,115
Provided during year (4,865 )
Balance at 31 October 2024 11,250

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
2 Ordinary £1 2 2

10. ULTIMATE CONTROLLING PARTY

The company was under the control of Mr and Mrs J Shergill, the directors, throughout the year. Mr and Mrs Shergill are personally interested in 100% of the company's issued share capital. There were no transactions during the year between the company and Mr and Mrs Shergill, other than as noted above.