Leverton And Sons Limited - Accounts to registrar (filleted) - small 23.2.5

REGISTERED NUMBER: 00235913 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 MARCH 2023

FOR

LEVERTON AND SONS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

Chartered Certified Accountants' Report

8

DIRECTORS:

P S Leverton

A H Leverton

SECRETARY:

A H Leverton

REGISTERED OFFICE:

210/212 Eversholt Street

London

NW1 1BD

REGISTERED NUMBER:

00235913 (England and Wales)

ACCOUNTANTS:

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

FIXED ASSETS

Tangible assets

4

1,705,135

1,689,425

Investments

5

6,400

6,400

1,711,535

1,695,825

CURRENT ASSETS

Stocks

67,157

62,153

Debtors

6

598,958

497,038

Cash at bank

1,224,242

1,384,779

1,890,357

1,943,970

CREDITORS

Amounts falling due within one year

7

404,798

292,787

NET CURRENT ASSETS

1,485,559

1,651,183

TOTAL ASSETS LESS CURRENT LIABILITIES

3,197,094

3,347,008

CREDITORS

Amounts falling due after more than one year

8

(27,962

)

(39,282

)

PROVISIONS FOR LIABILITIES

(16,716

)

(48,867

)

NET ASSETS

3,152,416

3,258,859

CAPITAL AND RESERVES

Called up share capital

14,000

14,000

Retained earnings

3,138,416

3,244,859

SHAREHOLDERS' FUNDS

3,152,416

3,258,859

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 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 21 December 2023 and were signed on its behalf by:

A H Leverton - Director

1.	STATUTORY INFORMATION

Leverton And Sons 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.

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.

Tangible fixed assets

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

The rates of depreciation policies for fixed assets during the year are as follows :

Land and buildings freehold 2% Straight line

Plant and Machinery 10% Reducing balance

Fixtures, fittings & equipment 10% Reducing balance

Motor vehicles 25% Reducing balance.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Stocks

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

Financial instruments

The company has elected to apply the provisions of Section 11 ' Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of it financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets are offset, with net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

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.

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.

Leases

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

Assets held under finance leases are recognised as assets at the lower of the assets fair value at the date of inception and the present value of the minimum lease payments. The related liability is included in the balance sheet as a finance lease obligation. Lease payments are treated as consisting of capital and interest elements. The interest is charged to profit or loss so as to produce a constant periodic rate of interest on the remaining balance of the liability.

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

Rental income from operating leases is recognised on a straight line basis over the term of the relevant lease. Initial direct costs incurred in negotiating and arranging an operating lease are added to the carrying amount of the leased asset and recognised on a straight line basis over the lease term.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 36 (2022 - 36 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

Land and

machinery

buildings

etc

Totals

£

£

£

COST

At 1 April 2022

1,707,301

1,271,561

2,978,862

Additions

-

135,156

135,156

Disposals

-

(49,000

)

(49,000

)

At 31 March 2023

1,707,301

1,357,717

3,065,018

DEPRECIATION

At 1 April 2022

372,557

916,880

1,289,437

Charge for year

16,977

98,677

115,654

Eliminated on disposal

-

(45,208

)

(45,208

)

At 31 March 2023

389,534

970,349

1,359,883

NET BOOK VALUE

At 31 March 2023

1,317,767

387,368

1,705,135

At 31 March 2022

1,334,744

354,681

1,689,425

5.	FIXED ASSET INVESTMENTS

Investment

in

Other

subsidiaries

investments

Totals

£

£

£

COST

At 1 April 2022

and 31 March 2023

1,000

5,400

6,400

NET BOOK VALUE

At 31 March 2023

1,000

5,400

6,400

At 31 March 2022

1,000

5,400

6,400

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Trade debtors

413,624

323,696

Other debtors

185,334

173,342

598,958

497,038

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

11,321

35,171

Trade creditors

289,935

184,355

Taxation and social security

37,041

47,939

Other creditors

66,501

25,322

404,798

292,787

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2023

2022

£

£

Hire purchase contracts (see note 9)

27,962

39,282

9.	LEASING AGREEMENTS

Minimum lease payments fall due as follows:

Hire purchase contracts

2023

2022

£

£

Net obligations repayable:

Within one year

11,321

35,171

Between one and five years

27,962

39,282

39,283

74,453

Non-cancellable operating

leases

2023

2022

£

£

Within one year

141,250

141,250

Between one and five years

197,000

302,250

In more than five years

252,000

288,000

590,250

731,500

10.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Leverton And Sons Limited for the year ended 31 March 2023 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Leverton And Sons Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Leverton And Sons Limited and state those matters that we have agreed to state to the Board of Directors of Leverton And Sons Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Leverton And Sons Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Leverton And Sons Limited. You consider that Leverton And Sons Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Leverton And Sons Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

LFM

Chartered Certified Accountants

The Stables

23b Lenten Street

Alton

Hampshire

GU34 1HG

21 December 2023