Levett and Martin Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 01016884 (England and Wales)

LEVETT AND MARTIN LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31ST MARCH 2026

Page

Company Information

1

Balance Sheet

2

to

3

Notes to the Financial Statements

4

to

8

DIRECTORS:

I D Levett

Mrs W A Parkes

REGISTERED OFFICE:

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

REGISTERED NUMBER:

01016884 (England and Wales)

ACCOUNTANTS:

Gibbons Mannington & Phipps LLP

Chartered Accountants

20 Eversley Road

Bexhill-on-Sea

East Sussex

TN40 1HE

FIXED ASSETS

Tangible assets

4

168,041

168,955

CURRENT ASSETS

Stocks

64,831

53,631

Debtors

5

24,599

27,484

Cash at bank and in hand

27,591

37,494

117,021

118,609

CREDITORS

Amounts falling due within one year

6

192,825

174,147

NET CURRENT LIABILITIES

(75,804

)

(55,538

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

92,237

113,417

CREDITORS

Amounts falling due after more than one
year

7

(38,220

)

(35,809

)

PROVISIONS FOR LIABILITIES

(1,705

)

(2,579

)

NET ASSETS

52,312

75,029

CAPITAL AND RESERVES

Called up share capital

10

3

Revaluation reserve

11

100,926

Retained earnings

(48,617

)

(25,900

)

SHAREHOLDERS' FUNDS

52,312

75,029

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st March 2026.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st March 2026 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 10th September 2026 and were signed on its behalf by:

I D Levett - Director

1.	STATUTORY INFORMATION

Levett and Martin 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 or, if held under a finance lease, over the lease term, whichever is the shorter.

Freehold property

-

not provided

Improvements to property

-

Straight line over the life of the lease

Fixtures, fittings & equipment

-

33% on cost and 12.5% on cost

Motor vehicles

-

20% on cost

Stocks

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

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

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 11 (2025 - 11 ) .

4.	TANGIBLE FIXED ASSETS

Improvements

Fixtures,

Freehold

to

fittings

Motor

property

& equipment

vehicles

Totals

£

COST OR VALUATION

At 1st April 2025

117,500

3,359

13,730

160,242

294,831

Additions

-

21,910

Disposals

-

(20,565

)

(20,565

)

At 31st March 2026

117,500

3,359

13,730

161,587

296,176

DEPRECIATION

At 1st April 2025

-

3,359

13,730

108,787

125,876

Charge for year

-

22,824

Eliminated on disposal

-

(20,565

)

(20,565

)

At 31st March 2026

-

3,359

13,730

111,046

128,135

NET BOOK VALUE

At 31st March 2026

117,500

-

50,541

168,041

At 31st March 2025

117,500

-

51,455

168,955

Cost or valuation at 31st March 2026 is represented by:

Improvements

Fixtures,

Freehold

to

fittings

Motor

property

& equipment

vehicles

Totals

£

Valuation in 1991

89,426

-

89,426

Valuation in 2003

11,500

-

11,500

Cost

16,574

3,359

13,730

161,587

195,250

117,500

3,359

13,730

161,587

296,176

If Freehold property had not been revalued it would have been included at the following historical cost:

2026

2025

£

Cost

16,574

Freehold property was valued on an open market basis on 31st March 2026 by the directors .

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Motor

vehicles

£

COST OR VALUATION

At 1st April 2025

58,851

Additions

21,910

At 31st March 2026

80,761

DEPRECIATION

At 1st April 2025

16,442

Charge for year

16,152

At 31st March 2026

32,594

NET BOOK VALUE

At 31st March 2026

48,167

At 31st March 2025

42,409

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Trade debtors

22,101

25,881

Other debtors

2,498

1,603

24,599

27,484

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2026

2025

£

Bank loans and overdrafts

36,409

29,057

Hire purchase contracts (see note 8)

10,928

9,275

Trade creditors

58,539

51,326

Taxation and social security

32,501

30,250

Other creditors

54,448

54,239

192,825

174,147

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR

2026

2025

£

Bank loans

-

2,330

Hire purchase contracts (see note 8)

38,220

33,479

38,220

35,809

8.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase

contracts

2026

2025

£

Net obligations repayable:

Within one year

10,928

9,275

Between one and five years

38,220

33,479

49,148

42,754

Non-cancellable

operating leases

2026

2025

£

Within one year

3,996

Between one and five years

6,993

10,989

14,985

9.	SECURED DEBTS

The following secured debts are included within creditors:

2026

2025

£

Bank overdrafts

34,079

22,811

Hire purchase contracts

49,148

42,754

83,227

65,565

The principal bank overdraft is secured by a legal mortgage over the freehold property at 45 Albion Road, Tunbridge Wells, Kent and a mortgage debenture over the fixed and floating assets of the company. The net obligations under finance leases and hire purchase contracts are secured on the assets to which they relate.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2026

2025

value:

£

3

Ordinary

£1

3

11.

RESERVES

Revaluatio

reserve

£

At 1st April 2025

and 31st March 2026

100,926