Registration number: 04578560

Levantine (UK) Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Financial Statements	3 to 9

Levantine (UK) Limited

Company Information

Directors

Mr David Danil Ms Rhona Danil

Company secretary

Ms Rhona Danil

Registered office

Leavesden Park Suite 13 5 Hercules Way Watford Hertfordshire United Kingdom WD25 7GS

Accountants

Landmark Accountants Limited Leavesden Park 5 Hercules Way Watford Hertfordshire WD25 7GS

Levantine (UK) Limited

(Registration number: 04578560)
Balance Sheet as at 31 October 2025

	Note	2025		2024
		£	£	£	£
Fixed assets
Tangible assets	5		5,702,878		6,296,710
Current assets
Stocks		1,086,855		790,181
Debtors	6	2,604,014		3,308,944
Cash at bank and in hand		90,230		697,662
		3,781,099		4,796,787
Creditors: Amounts falling due within one year	7	(4,169,196)		(4,780,791)
Net current (liabilities)/assets			(388,097)		15,996
Total assets less current liabilities			5,314,781		6,312,706
Creditors: Amounts falling due after more than one year	7		-		(40,000)
Provisions for liabilities	8		(1,174,737)		(1,514,278)
Net assets			4,140,044		4,758,428
Capital and reserves
Called up share capital		244,000		244,000
Retained earnings		3,896,044		4,514,428
Shareholders' funds			4,140,044		4,758,428

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 special 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 30 July 2026 and signed on its behalf by:
 

......................................... Mr David Danil Director

Levantine (UK) Limited

Notes to the 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:
Leavesden Park
Suite 13
5 Hercules Way
Watford
Hertfordshire
WD25 7GS
United Kingdom

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 that as disclosed in the accounting policies certain items are shown at fair value.

The presentational currency of these accounts is £ Sterling. The level of rounding is to the nearest £1.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Levantine (UK) Limited

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

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change 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.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet 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
Plant and machinery	6.67% to 20% straight line method
Office equipment	20% straight line method
Short leasehold land and buildings	6.67% to 10% straight line method

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Levantine (UK) Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the balance sheet as a finance lease obligation.

Lease payments are apportioned between finance costs in the profit and loss account and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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.

Levantine (UK) Limited

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

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

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.
 Recognition and measurement
Basic financial instruments are recognised at amortised cost.
 

HS2 compensation

HS2 compensation is consideration received from HS2 rail project. The amounts received are recognised as other income in the profit and loss account in the same manner that the expenditure that it relates to is treated. The amounts received are treated as follows:

100% recognised in the profit and loss account if the corresponding expenditure is charged directly to the profit and loss account.
If the corresponding expenditure is for fixed assets then the amount recognised in the profit and loss account will follow the same depreciation method as the capital expenditure. This can either be 20% straight line method or 10% straight line method.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 49 (2024 - 46).

4	Loss/profit before tax

Arrived at after charging/(crediting)

	2025 £	2024 £
Exceptional item - backdated rent	375,162	-

Levantine (UK) Limited

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

5	Tangible assets

	Short leasehold land and buildings £	Plant and machinery £	Office equipment £	Total £
Cost or valuation
At 1 November 2024	1,165,248	8,322,124	93,565	9,580,937
Additions	-	42,228	22,102	64,330
At 31 October 2025	1,165,248	8,364,352	115,667	9,645,267
Depreciation
At 1 November 2024	384,337	2,865,352	34,538	3,284,227
Charge for the year	79,963	560,822	17,377	658,162
At 31 October 2025	464,300	3,426,174	51,915	3,942,389
Carrying amount
At 31 October 2025	700,948	4,938,178	63,752	5,702,878
At 31 October 2024	780,911	5,456,772	59,027	6,296,710

Included within the net book value of land and buildings above is £700,948 (2024 - £780,911) in respect of short leasehold land and buildings.
 

Levantine (UK) Limited

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

6

Debtors

	Note	2025 £	2024 £
Trade debtors		971,952	1,469,947
Other debtors		1,465,105	1,488,967
Prepayments		139,160	110,573
Income tax asset		27,797	239,457
		2,604,014	3,308,944

7

Creditors

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	9	365,793	796,401
Trade creditors		1,192,320	1,704,602
Taxation and social security		430,392	579,191
Accruals and deferred income		2,170,632	1,691,393
Other creditors		10,059	9,204
		4,169,196	4,780,791

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	9	-	40,000

8	Provisions for liabilities

	Deferred tax £	Total £
At 1 November 2024	1,514,278	1,514,278
Increase (decrease) in existing provisions	(339,541)	(339,541)
At 31 October 2025	1,174,737	1,174,737

Levantine (UK) Limited

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

9	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	-	40,000

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	365,793	793,201
Hire purchase contracts	-	3,200
	365,793	796,401

10	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £4,326,702 (2024 - £3,141,888). The financial commitments relate to operating leases regarding the rental of the new premises which the company moved to due to HS2 and also the hire of equipment.

Amounts disclosed in the balance sheet

Included in the balance sheet are pensions of £6,164 (2024 - £4,445).

11	Related party transactions

Transactions with directors

2025	At 1 November 2024 £	Advances to director £	Repayments by director £	At 31 October 2025 £
Loans to directors (interest at 3.2% and repayable on demand)	1,033,655	341,169	(294,759)	1,080,065

2024	At 1 November 2023 £	Advances to director £	Repayments by director £	At 31 October 2024 £
Loans to directors (interest at 2.25% and repayable on demand)	1,013,710	274,980	(255,035)	1,033,655