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Registration number: 15158167

Prepared for the registrar
Levante Futures Limited
Annual Report and Unaudited Financial Statements
for the Year Ended 31 October 2025

Levante Futures Limited

Contents

Company Information | 1
Balance Sheet | 2
Notes to the Unaudited Financial Statements | 3 to 7

Levante Futures Limited

Company Information

Directors | A Kemmish M Kemmish

Company secretary | T Dawe

Registered office | Slade Farm Morchard Bishop Crediton Devon EX17 6SJ

Accountants | Hazlewoods LLP Staverton Court Staverton Cheltenham GL51 0UX

Levante Futures Limited

(Registration number: 15158167)
Balance Sheet as at 31 October 2025

| Note | 2025 £ | 2024 £
Fixed assets |  |  |
Tangible assets | 4 | 1,307,326 | 891,509
Investments | 5 | 1,450 | 1,450
|  | 1,308,776 | 892,959
Current assets |  |  |
Cash at bank and in hand |  | 1,127,269 | 1,160,027
Creditors: Amounts falling due within one year | 6 | (24,539) | (25,733)
Net current assets |  | 1,102,730 | 1,134,294
Total assets less current liabilities |  | 2,411,506 | 2,027,253
Deferred tax liabilities | 7 | (45,018) | (43,456)
Net assets |  | 2,366,488 | 1,983,797
Capital and reserves |  |  |
Called up share capital | 8 | 1,450 | 1,450
Retained earnings |  | 2,365,038 | 1,982,347
Shareholders' funds |  | 2,366,488 | 1,983,797

For the financial year ending 31 October 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• | The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
• | 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 and 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 Board on 18 May 2026 and signed on its behalf by:

A Kemmish
Director

M Kemmish
Director

Levante Futures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

| 1 | General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Slade Farm
Morchard Bishop
Crediton
Devon
EX17 6SJ

| 2 | 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 Year Ended 31 October 2025

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.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class | Depreciation method and rate
Office equipment | 33% at cost
Freehold property | Nil

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
Financial instruments are classified and accounted for according to the substance of the contractual arrangement, as financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities. Where shares are issued, any component that creates a financial liability of the company is presented as a liability on the balance sheet. The corresponding dividends relating to the liability component are charged as interest expenses in the profit and loss account.

Levante Futures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

Recognition and measurement
All financial assets and liabilities are initially measured at transaction price (including transaction costs), except for those financial assets classified as at fair value through profit or loss, which are initially measured at fair value (which is normally the transaction price excluding transaction costs), unless the arrangement constitutes a financing transaction. If an arrangement constitutes a financing transaction, the financial asset or financial liability is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Impairment
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.
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.

| 3 | Staff numbers

The average number of persons employed by the company (including directors) during the year, was as follows:

| Year ended 31 October 2025 No. | 23 September 2023 to 31 October 2024 No.
Average number of employees | 2 | 2

| 4 | Tangible assets

| Freehold property £ | Office equipment £ | Total £
Cost
At 1 November 2024 | 891,509 | - | 891,509
Additions | 414,811 | 1,249 | 416,060
At 31 October 2025 | 1,306,320 | 1,249 | 1,307,569
Depreciation
At 1 November 2024 | - | - | -
Charge for the period | - | 243 | 243
At 31 October 2025 | - | 243 | 243
Carrying amount
At 31 October 2025 | 1,306,320 | 1,006 | 1,307,326
At 31 October 2024 | 891,509 | - | 891,509

The directors are of the opinion that the market value of the freehold properties have not materially changed since their acquisitions.

Levante Futures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

| 5 | Investments

| 2025 £ | 2024 £
Investments in subsidiaries | 1,450 | 1,450

Subsidiaries | £
Cost
At 1 November 2024 | 1,450
At 31 October 2025 | 1,450
Carrying amount
At 31 October 2025 | 1,450
At 31 October 2024 | 1,450

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:

Undertaking | Registered office | Holding | Proportion of voting rights and shares held
|  |  | 2025 | 2024
Subsidiary undertakings
St Boniface Veterinary Clinic Limited | England | Ordinary A | 100% | 100%
|  | Ordinary B | 100% | 100%

Subsidiary undertakings
St Boniface Veterinary Clinic Limited The principal activity of St Boniface Veterinary Clinic Limited is the provision of veterinary services,.

| 6 | Creditors

| 2025 £ | 2024 £
Due within one year |  |
Taxation and social security | 19,289 | 20,733
Accruals and deferred income | 5,250 | 5,000
| 24,539 | 25,733

Levante Futures Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 October 2025

| 7 | Deferred tax

Deferred tax assets and liabilities

2025 | Liability £
Difference between accumulated depreciation and amortisation and capital allowances | 45,018
| 45,018

2024 | Liability £
Difference between accumulated depreciation and amortisation and capital allowances | 43,456
| 43,456

| 8 | Share capital

Allotted, called up and fully paid shares

| 31 October 2025 | 31 October 2024
| No. | £ | No. | £
Ordinary A shares of £1 each | 1,010 | 1,010 | 1,010 | 1,010
Ordinary B shares of £1 each | 440 | 440 | 440 | 440
| 1,450 | 1,450 | 1,450 | 1,450

The different classes of shares referred to above carry separate rights to dividends, but in all other significant respects rank pari passu.

| 9 | Related party transactions

Summary of transactions with key management

Key management personnel are considered to be the directors of the company.