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2022-02-28 11215867 frs-countries:RestWorldOutsideUK 2021-03-01 2022-02-28 11215867 frs-bus:HighestPaidDirector 2021-03-01 2022-02-28 11215867 frs-bus:PrivateLimitedCompanyLtd 2021-03-01 2022-02-28 11215867 frs-bus:CompanyLimitedByGuarantee 2021-03-01 2022-02-28 11215867 frs-bus:LimitedLiabilityPartnershipLLP 2021-03-01 2022-02-28 11215867 frs-bus:LimitedLiabilityPartnershipsSORP 2021-03-01 2022-02-28 11215867 frs-bus:FullAccounts 2021-03-01 2022-02-28 11215867 frs-bus:FilletedAccounts 2021-03-01 2022-02-28 11215867 frs-bus:AbridgedAccounts 2021-03-01 2022-02-28 11215867 frs-bus:FRS102 2021-03-01 2022-02-28 11215867 frs-bus:MediumEntities 2021-03-01 2022-02-28 11215867 frs-bus:SmallEntities 2021-03-01 2022-02-28 11215867 frs-bus:EntityHasNeverTraded 2021-03-01 2022-02-28 11215867 frs-bus:EntityNoLongerTradingButTradedInPast 2021-03-01 2022-02-28 11215867 frs-bus:Audited 2021-03-01 2022-02-28 11215867 frs-bus:AuditExempt-NoAccountantsReport 2021-03-01 2022-02-28 11215867 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frs-bus:PreferenceShareClass4 2022-02-28 11215867 frs-bus:PreferenceShareClass5 2021-03-01 2022-02-28 11215867 frs-bus:PreferenceShareClass5 2021-02-28 11215867 frs-bus:PreferenceShareClass5 2022-02-28 11215867 1 2021-03-01 2022-02-28 11215867 1 2022-02-28 11215867 1 2021-03-01 2022-02-28 11215867 frs-core:LeasedAssets 2021-03-01 2022-02-28 11215867 frs-core:OwnedAssets 2021-03-01 2022-02-28 11215867 frs-core:CurrencyRisk 2021-03-01 2022-02-28 11215867 frs-core:MarketRisk 2021-03-01 2022-02-28 11215867 frs-core:InterestRateRisk 2021-03-01 2022-02-28 11215867 frs-core:DeferredTaxation 2021-03-01 2022-02-28 11215867 frs-core:DeferredTaxation 2021-02-28 11215867 frs-core:DeferredTaxation 2022-02-28 11215867 frs-core:OtherProvisionsContingentLiabilities 2021-03-01 2022-02-28 11215867 frs-core:OtherProvisionsContingentLiabilities 2021-02-28 11215867 frs-core:OtherProvisionsContingentLiabilities 2022-02-28 11215867 frs-core:ProvisionsDeferredTax 2022-02-28 11215867 frs-core:OtherDeferredTax 2022-02-28 11215867 frs-core:AcceleratedTaxDepreciationDeferredTax 2022-02-28 11215867 frs-core:TaxLossesCarry-forwardsDeferredTax 2022-02-28 11215867 frs-core:FurtherSpecificItem2DeferredTaxComponentTotalForDeferredTax 2022-02-28 11215867 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2021-03-01 2022-02-28 11215867 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2021-02-28 11215867 frs-core:FurtherSpecificReserve1ComponentTotalEquity 2022-02-28 11215867 frs-core:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-03-01 2022-02-28 11215867 frs-core:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2021-02-28 11215867 frs-core:FurtherSpecificTypeProvisionContingentLiability1ComponentTotalProvisionsContingentLiabilities 2022-02-28 11215867 frs-core:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2021-03-01 2022-02-28 11215867 frs-core:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2021-02-28 11215867 frs-core:FurtherSpecificTypeProvisionContingentLiability2ComponentTotalProvisionsContingentLiabilities 2022-02-28 11215867 frs-core:RevaluationPropertyPlantEquipmentDeferredTax 2022-02-28 11215867 frs-core:RevaluationInvestmentPropertyDeferredTax 2022-02-28 11215867 frs-core:FairValueMovementsOnFinancialInstrumentsDeferredTax 2022-02-28 11215867 frs-core:OtherPost-employmentBenefitsDeferredTax 2022-02-28 11215867 frs-core:Share-basedPaymentsDeferredTax 2022-02-28 11215867 frs-core:TaxCreditsDeferredTax 2022-02-28 11215867 frs-core:CostValuation 2021-02-28 11215867 frs-core:AdditionsToInvestments 2022-02-28 11215867 frs-core:DisposalsRepaymentsInvestments 2022-02-28 11215867 frs-core:RevaluationsIncreaseDecreaseInInvestments 2022-02-28 11215867 frs-core:FurtherSpecificIncreaseDecreaseInInvestments1ComponentTotalChangeInInvestments 2022-02-28 11215867 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Registered number: 11215867
Leman Holding Limited
Unaudited Financial Statements
For The Year Ended 28 February 2023
Unaudited Financial Statements
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11215867
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 169,508 198,810
Investment Properties 5 1,000,000 1,000,000
1,169,508 1,198,810
CURRENT ASSETS
Debtors 6 5,975 -
Cash at bank and in hand 214,196 16,970
220,171 16,970
Creditors: Amounts Falling Due Within One Year 7 (1,537,650 ) (1,397,564 )
NET CURRENT ASSETS (LIABILITIES) (1,317,479 ) (1,380,594 )
TOTAL ASSETS LESS CURRENT LIABILITIES (147,971 ) (181,784 )
NET LIABILITIES (147,971 ) (181,784 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (148,071 ) (181,884 )
SHAREHOLDERS' FUNDS (147,971) (181,784)
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Page 2
For the year ending 28 February 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Dejie Ou
Director
22 November 2023
The notes on pages 3 to 5 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Leman Holding Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11215867 . The registered office is 58-60 West Street Sheffield City Center, West Street, Sheffield, S1 4EP.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. Going Concern Disclosure
The director has identified material uncertainties related to events or conditions that may cast significant doubt about the company's ability to continue as a going concern, however, the going concern basis remains appropriate.
The financial statements have been prepared in accordance with the accounting principles appropriate to a going concern, notwithstanding the company's net current liabilities, which the director believes to be appropriate for the following reasons. The company is dependent for its working capital on funds provided to it by the company's director and shareholders have provided the company with an undertaking that, for at least 12 months from the date of approval of these financial statements, it will continue to make available such funds as are needed by the company.
This should enable the company to continue in operational existence for the foreseeable future by meeting its liabilities as they fall due for payment. As with any company placing reliance on other entities for financial support, the director acknowledge that there can be no certainty that this support will continue, although, at the date of approval of these financial statements, He has no reason to believe that it will not do so.
Based on this undertaking the director believes that it remains appropriate to prepare the financial statements on a going concern basis.The financial statements do not include any adjustments that would result from the basis of preparation being inappropriate.
2.3. Turnover
The turnover shown in the profit and loss account represents amounts invoiced during the year exclusive of Value
Added Tax.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Fixtures & Fittings 10%
Computer Equipment 25%
2.5. Investment Properties
All investment properties are propeties which are held either to earn rental income or for capital appreciation or for both. Investment properties are recognised initially at cost.
Subsequent to initial recognition:
1) Invesment properties whose fair value can be measured reliably without undue cost or effort are held at fair value.
Changes in fair value are recognised in the profit and loss account.
2) No depreciation is provided for.
The company's commercial invesmtent properties are valued by the directors based on their understanding of property market conditions and the specific properties concerned using income capitalisation method, requiring the application of an appropriate market based yield to net operating income.
2.6. Financial Instruments
Trade debtors
Trade debtors are recognised initially at transaction price plus attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method, less any impairment losses. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.

Other creditors
Other creditors are recognised initially at transaction price less attributable transaction costs. Subsequent to initial recognition they are measured at amortised cost using the effective interest method. If the arrangement constitutes a financing transaction, for example if payment is deferred beyond normal business terms, then it is measured at the present value of future payments discounted at a market rate for a similar debt instrument.
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2.7. Acquisitions and disposals of properties
Acquisitions and disposals are considered to have taken place at the date of legal completion and are included in the financial statements accordingly
3. Average Number of Employees
Average number of employees, including directors, during the year was: NIL (2022: NIL)
- -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2022 291,034 799 291,833
As at 28 February 2023 291,034 799 291,833
Depreciation
As at 1 March 2022 92,423 600 93,023
Provided during the period 29,103 199 29,302
As at 28 February 2023 121,526 799 122,325
Net Book Value
As at 28 February 2023 169,508 - 169,508
As at 1 March 2022 198,611 199 198,810
Cost or valuation as at 28 February 2023 represented by:
Fixtures & Fittings Computer Equipment Total
£ £ £
At cost 291,034 799 291,833
291,034 799 291,833
The company's investment property is included in the Financial Statements at Director's valuation.
The company's residential property valued using a sales valuation approach, derived from recent comparable transactions in the market, adjusted by applying discounts to reflect status of occupation and condition.
The company's commercial property valued using the income capitalisation method, requiring the application of an appropriate market based yield to net operating income. Adjustments are made to allow for voids when less than five years are left under the current tenancy and to reflect market rent at the point of lease expiry or rent review.
The historical cost of investment properties are £1,000,000.
5. Investment Property
2023
£
Fair Value
As at 1 March 2022 and 28 February 2023 1,000,000
6. Debtors
2023 2022
£ £
Due within one year
Other debtors 5,975 -
5,975 -
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7. Creditors: Amounts Falling Due Within One Year
2023 2022
£ £
Bank loans and overdrafts 588,471 588,471
VAT 18,333 19,936
Other creditors 930,846 789,157
1,537,650 1,397,564
Other creditors include amounts aggregating £600,290 (2022: £600,290) due to the director of the company, Dejie Ou and £165,900 (2022: £176,700) due to the company shareholder, Tea Hui San. The loans are interest free and repayable on demand.
8. Share Capital
2023 2022
£ £
Allotted, Called up and fully paid 100 100
9. Accounting estimates and judgements
Property valuations
The valuation of the company's property portfolio is inherently subjective, depending on many factors, including the individual
nature of each property, its location and expected future net rental values, market yields and comparable market transactions. Therefore the valuations are subject to a degree of uncertainty and are made on the basis of assumptions which may not prove to be accurate, particularly in periods of difficult market or economic conditions.
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