Company registration number 01032653 (England and Wales)
LEMAN LIMITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
PAGES FOR FILING WITH REGISTRAR
LEMAN LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 4
LEMAN LIMITED
BALANCE SHEET
AS AT
31 DECEMBER 2021
31 December 2021
- 1 -
2021
2020
Notes
£
£
£
£
Current assets
Debtors
2
1,077,857
1,077,857
Creditors: amounts falling due within one year
3
(153,985)
(153,985)
Net current assets
923,872
923,872
Capital and reserves
Called up share capital
4
1,000,000
1,000,000
Profit and loss reserves
(76,128)
(76,128)
Total equity
923,872
923,872

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 2 September 2022 and are signed on its behalf by:
Mr L J Marshall
Director
Company Registration No. 01032653
LEMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2021
- 2 -
1
Accounting policies
Company information

Leman Limited is a private company limited by shares incorporated in England and Wales. The registered office is North 2, North Sea Crossing, Stanford-Le-Hope, Essex, SS17 9ER.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention.The principal accounting policies adopted are set out below.

1.2
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.3
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 its 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 and liabilities are offset, with the 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.

Classification of financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities

Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

LEMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 3 -
2
Debtors
2021
2020
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
1,077,857
1,077,857
3
Creditors: amounts falling due within one year
2021
2020
£
£
Amounts owed to group undertakings
115,912
115,912
Other creditors
38,073
38,073
153,985
153,985
4
Called up share capital
2021
2020
£
£
Ordinary share capital
Issued and fully paid
1,000,000 Ordinary shares of £1 each
1,000,000
1,000,000
5
Audit report information

As the income statement has been omitted from the filing copy of the financial statements, the following information in relation to the audit report on the statutory financial statements is provided in accordance with s444(5B) of the Companies Act 2006:

The auditor's report was unqualified.

The senior statutory auditor was Jackie Wilding and the auditor was Bryden Johnson Limited.
LEMAN LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2021
- 4 -
6
Related party transactions

Included in debtors falling due within one year is an amount of £1,077,537 (2020: £1,077,537) due from Balspeed Holding Nederland BV.

 

Included in debtors falling due within one year is an amount of £320 (2020: £320) due from Ziegler Group.

 

Included in creditors falling due within one year is an amount of £54,268 (2020: £54,268) due to Dormach International SA.

 

Included in creditors falling due within one year is an amount of £61,324 (2020: £61,324) due to Ziegler Group.

 

All of the related party transactions were conducted at arms length and at market value.

 

7
Parent company

The directors consider the ultimate controlling parent undertaking to be Balspeed SA, a company incorporated in Switzerland.

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