REGISTERED NUMBER: 04435249 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2025

for

Levelpath Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mrs S Ling

C A J Ling

SECRETARY:

S C Ling

REGISTERED OFFICE:

Brookfield Cottage

Blagdon Hill

Taunton

Somerset

TA3 7SL

REGISTERED NUMBER:

04435249 (England and Wales)

FIXED ASSETS

Tangible assets

4

1,049

1,399

Investments

5

382,734

361,186

Investment property

6

350,000

350,000

733,783

712,585

CURRENT ASSETS

Debtors

7

-

10,000

Cash at bank

12,537

3,740

12,537

13,740

CREDITORS

Amounts falling due within one year

8

51,292

58,358

NET CURRENT LIABILITIES

(38,755

)

(44,618

)

TOTAL ASSETS LESS CURRENT LIABILITIES

695,028

667,967

PROVISIONS FOR LIABILITIES

9

12,834

8,125

NET ASSETS

682,194

659,842

CAPITAL AND RESERVES

Called up share capital

100

100

Other reserves

29,495

34,644

Retained earnings

652,599

625,098

SHAREHOLDERS' FUNDS

682,194

659,842

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 May 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 2025 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 30 October 2025 and were signed on its behalf by:

Mrs S Ling - Director

1.	STATUTORY INFORMATION

Levelpath 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 presentation currency of the financial statements is the Pound Sterling (£).

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 as modified by the revaluation of certain assets.

Turnover

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

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

25% on reducing balance

Investment property and listed investments

Investment property and listed investments are shown at their most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in the profit and loss account.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, 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.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2024 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 June 2024

and 31 May 2025

5,350

DEPRECIATION

At 1 June 2024

3,951

Charge for year

350

At 31 May 2025

4,301

NET BOOK VALUE

At 31 May 2025

1,049

At 31 May 2024

1,399

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 June 2024

361,186

Disposals

(4,231

)

Revaluations

18,838

Dividends received

6,941

At 31 May 2025

382,734

NET BOOK VALUE

At 31 May 2025

382,734

At 31 May 2024

361,186

Cost or valuation at 31 May 2025 is represented by:

Other

investments

£

Valuation in 2025

18,838

Valuation in 2024

29,576

Valuation in 2023

(3,687

)

Valuation in 2022

(14,731

)

Valuation in 2021

40,028

Cost

312,710

382,734

6.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 June 2024

and 31 May 2025

350,000

NET BOOK VALUE

At 31 May 2025

350,000

At 31 May 2024

350,000

The directors review the valuation of the Investment property at the end of each year. Where the value has changed materially, the property is revalued in the accounts, otherwise, the value remains the same as the previous year.

The property has been revalued to £350,000 at the year end by its directors who are not qualified valuers.

The historical cost of the investment property at the year end was £651,730 (2024- £651,730).

7.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Prepayments and accrued income

-

10,000

8.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

£

Corporation tax

6,139

2,183

Social security and other taxes

1

3,231

VAT

1,808

2,300

Directors' current accounts

38,147

45,486

Accruals and deferred income

5,197

5,158

51,292

58,358

9.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

12,834

8,125

Deferred

tax

£

Balance at 1 June 2024

8,125

Charge to Income Statement during year

4,709

Balance at 31 May 2025

12,834

The deferred tax provision represents the potential deferred tax due on the revaluation of the listed investment held by the company. There is no deferred tax provision on the investment property as the carrying value is below cost.

10.	RELATED PARTY DISCLOSURES

At the year end, there were balances due to the directors of £38,147 (2024: £45,486).

11.	ULTIMATE CONTROLLING PARTY

The company was under the control of Mrs S J Ling throughout the period.