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Company Registration No. 12343719 (England and Wales)
L&H Holborn Limited Unaudited financial statements for the year ended 31 December 2023
L&H Holborn Limited Unaudited financial statements Contents
Page
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L&H Holborn Limited Company Information for the year ended 31 December 2023
Directors
Linna Huang Weifeng Liu
Company Number
12343719 (England and Wales)
Registered Office
3 Burgess Road Sutton SM1 1RW United Kingdom
Accountants
Harmony Accountancy Limited Chartered Certified Accountant 124 City Road London EC1V 2NX
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L&H Holborn Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
390 
780 
Current assets
Inventories
350 
360 
Debtors
21,886 
38,994 
Cash at bank and in hand
13,397 
1,686 
35,633 
41,040 
Creditors: amounts falling due within one year
(24,084)
(16,627)
Net current assets
11,549 
24,413 
Total assets less current liabilities
11,939 
25,193 
Creditors: amounts falling due after more than one year
(15,000)
(25,000)
Net (liabilities)/assets
(3,061)
193 
Capital and reserves
Called up share capital
100 
100 
Profit and loss account
(3,161)
93 
Shareholders' funds
(3,061)
193 
For the year ending 31 December 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 1 August 2024 and were signed on its behalf by
Weifeng Liu Director Company Registration No. 12343719
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L&H Holborn Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
L&H Holborn Limited is a private company, limited by shares, registered in England and Wales, registration number 12343719. The registered office is 3 Burgess Road, Sutton, SM1 1RW, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Straight line over 3 years
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them.
Inventories
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
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L&H Holborn Limited Notes to the Accounts for the year ended 31 December 2023
Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other year and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and asset reflects the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities. Current or deferred tax for the year is recognised in profit or loss, except when they related to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively.
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 January 2023
1,170 
At 31 December 2023
1,170 
Depreciation
At 1 January 2023
390 
Charge for the year
390 
At 31 December 2023
780 
Net book value
At 31 December 2023
390 
At 31 December 2022
780 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
712 
879 
Accrued income and prepayments
15,274 
18,855 
Other debtors
5,900 
19,260 
21,886 
38,994 
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L&H Holborn Limited Notes to the Accounts for the year ended 31 December 2023
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
10,000 
10,000 
Taxes and social security
1,893 
4,223 
Other creditors
10,191 
404 
Accruals
2,000 
2,000 
24,084 
16,627 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
15,000 
25,000 
8
Loans to directors
Brought Forward 
Advance/ credit 
Repaid 
Carried Forward 
£ 
£ 
£ 
£ 
Linna Huang
9,000 
450 
9,000 
450 
Weifeng Liu
9,000 
450 
9,000 
450 
18,000 
900 
18,000 
900 
The directors' loan will be repaid within 9 months of the year end.
9
Average number of employees
During the year the average number of employees was 10 (2022: 10).
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