Level Eight Design Limited - Limited company - abbreviated - 11.6

REGISTERED NUMBER: 06317550 (England and Wales)

Abbreviated Unaudited Accounts

for the Year Ended 5 April 2014

for

LEVEL EIGHT DESIGN LIMITED

Page

Company Information

1

Abbreviated Balance Sheet

2

Notes to the Abbreviated Accounts

4

Chartered Certified Accountants' Report

6

DIRECTORS:

M V Camillin

L F Denny

SECRETARY:

L F Denny

REGISTERED OFFICE:

41 Derek Avenue

Hove

East Sussex

BN3 4PE

REGISTERED NUMBER:

06317550 (England and Wales)

ACCOUNTANTS:

Chambers & Co Accountants LLP

2 Church Street

Brighton

East Sussex

BN1 1UJ

FIXED ASSETS

Tangible assets

2

4,093

5,808

Investment property

3

1,250,000

1,150,000

1,254,093

1,155,808

CURRENT ASSETS

Debtors

124

-

Cash at bank

6,458

154,778

6,582

154,778

CREDITORS

Amounts falling due within one year

4

205,756

593,212

NET CURRENT LIABILITIES

(199,174

)

(438,434

)

TOTAL ASSETS LESS CURRENT LIABILITIES

1,054,919

717,374

CREDITORS

Amounts falling due after more than one year

4

(34,890

)

(44,404

)

PROVISIONS FOR LIABILITIES

(63,808

)

(44,772

)

NET ASSETS

956,221

628,198

CAPITAL AND RESERVES

Called up share capital

5

20

20

Revaluation reserve

227,337

146,510

Profit and loss account

728,864

481,668

SHAREHOLDERS' FUNDS

956,221

628,198

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 5 April 2014.

The members have not required the company to obtain an audit of its financial statements for the year ended 5 April 2014 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 abbreviated accounts have been prepared in accordance with the special provisions of Part 15 of the Companies Act 2006 relating to small companies.

The financial statements were approved by the Board of Directors on 13 November 2014 and were signed on its behalf by:

L F Denny - Director

1.	ACCOUNTING POLICIES

Accounting convention

The financial statements have been prepared under the historical cost convention as modified by the

revaluation of certain assets and in accordance with the Financial Reporting Standard for Smaller

Entities (effective April 2008).

Turnover

Turnover represents revenue recognised in respect of services supplied, excluding value-added-tax.

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

-

15% on reducing balance

Office equipment

-

33% on reducing balance

Investment property

Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from

changes in market value is transferred to a revaluation reserve.

In accordance with SSAP19, no depreciation is charged in respect of investment property. This policy

represents a departure from the requirements of the Companies Act 2006 to provide systematic annual

depreciation for all fixed assets. However, as this property is held for investment and not consumption,

the directors consider the adoption of this alternative policy necessary to give a true and fair view.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at

the balance sheet date.

2.	TANGIBLE FIXED ASSETS

Total

£

COST

At 6 April 2013

and 5 April 2014

10,000

DEPRECIATION

At 6 April 2013

4,192

Charge for year

1,715

At 5 April 2014

5,907

NET BOOK VALUE

At 5 April 2014

4,093

At 5 April 2013

5,808

3.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 6 April 2013

1,150,000

Revaluations

100,000

At 5 April 2014

1,250,000

NET BOOK VALUE

At 5 April 2014

1,250,000

At 5 April 2013

1,150,000

4.

CREDITORS

Creditors include an amount of £ 45,076 (2013 - £ 54,200 ) for which security has been given.

They also include the following debts falling due in more than five years:

2014

2013

£

£

Repayable by instalments

-

854

5.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2014

2013

value:

£

£

20

Ordinary

£1

20

20

6.	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, from which the unaudited abbreviated accounts (set out on

pages two to five) have been prepared.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval

the financial statements of Level Eight Design Limited for the year ended 5 April 2014 which comprise the

Profit and Loss Account, the 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://rulebook.accaglobal.com.

This report is made solely to the Board of Directors of Level Eight Design 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 Level Eight Design Limited and state those matters that we have agreed to state to the Board

of Directors of Level Eight Design 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 Level Eight Design 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 profit

of Level Eight Design Limited. You consider that Level Eight Design 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 Level Eight

Design 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.

Chambers & Co Accountants LLP

2 Church Street

Brighton

East Sussex

BN1 1UJ

Date: .............................................