Company Registration No. 10864874 (England and Wales)
Lemon Electronics UK Limited
Unaudited accounts
for the year ended 31 December 2023
Lemon Electronics UK Limited
Unaudited accounts
Contents
Lemon Electronics UK Limited
Company Information
for the year ended 31 December 2023
Company Number
10864874 (England and Wales)
Registered Office
50A HALL LANE
LONDON
NW4 4TN
ENGLAND
Lemon Electronics UK Limited
Statement of financial position
as at 31 December 2023
Cash at bank and in hand
22,792
8,583
Creditors: amounts falling due within one year
(1,250)
(1,232,464)
Net current assets/(liabilities)
21,542
(566,606)
Total assets less current liabilities
21,542
2,372,354
Creditors: amounts falling due after more than one year
-
(1,281,085)
Net assets
21,542
1,091,269
Called up share capital
50,000
1,050,000
Profit and loss account
(28,458)
41,269
Shareholders' funds
21,542
1,091,269
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 director acknowledges his 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 and authorised for issue on 6 March 2024 and were signed on its behalf by
Kapil Chugh
Director
Company Registration No. 10864874
Lemon Electronics UK Limited
Notes to the Accounts
for the year ended 31 December 2023
Lemon Electronics UK Limited is a private company, limited by shares, registered in England and Wales, registration number 10864874. The registered office is 50A HALL LANE, LONDON, NW4 4TN, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
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.
The financial statements are prepared under the historical cost convention and in accordance with the FRS 102 Section 1A Small Entities The Financial Reporting
Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
The presentation currency of the financial statements is the Pound Sterling (£).
The directors believe that the company is likely to experience good levels of sales growth and profitability, and that it is well placed to manage its business risks successfully. Accordingly, they have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus they continue to adopt the going concern basis of accounting in preparing the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgement, estimates and assumptions that affect the amounts reported. These estimates and judgement are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
The items in the financial statements where these judgement and estimates include assessing the carrying value of investments, recoverability of debtors, current and deferred taxation, depreciation of tangible fixed assets.
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
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. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Lemon Electronics UK Limited
Notes to the Accounts
for the year ended 31 December 2023
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amount of cash with insignificant risk of change in value.
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transacion is measured at the present value of future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Basic financial liabilities, including trade and other creditors, loans from third parties and loan from related parties, are initially recognised at transaction price, unless the arrangement constitues a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairement.
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Investments
Other investments
Valuation at 1 January 2023
2,938,960
Valuation at 31 December 2023
-
The Investments represents the investments made in structure note.
During the year Investments were disposed at £2,741,695 and made a loss of £197,265. This loss on structure note has been transferred to profit and loss account.
The company generated coupon income of £131,106 during the year from the structure note and this income has been transferred to profit and loss account.
Amounts falling due within one year
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
-
1,115,215
7
Creditors: amounts falling due after more than one year
2023
2022
Lemon Electronics UK Limited
Notes to the Accounts
for the year ended 31 December 2023
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Average number of employees
During the year the average number of employees was 1 (2022: 1).