for the Period 1 November 2022 to 31 December 2023
for
Lemu Global Limited
Lemu Global Limited (Registered number: 14454683)
Contents of the Financial Statements | ||
for the Period 1 November 2022 to 31 December 2023 | ||
Page | ||
Company Information | 1 | |
Directors' Report | 2 | |
Income Statement | 3 | |
Other Comprehensive Income | 4 | |
Balance Sheet | 5 | |
Statement of Changes in Equity | 7 | |
Notes to the Financial Statements | 8 |
Lemu Global Limited
Company Information
for the Period 1 November 2022 to 31 December 2023
DIRECTORS:
SECRETARY:
REGISTERED OFFICE:
REGISTERED NUMBER:
14454683 (England and Wales)
Page 1
Lemu Global Limited (Registered number: 14454683)
Directors' Report
for the Period 1 November 2022 to 31 December 2023
The directors present their report with the financial statements of the company for the period 1 November 2022 to 31 December 2023.
The company was incorporated on and commenced trading on the same date. 1 November 2022
The principal activity of the company in the period under review was that of a holding company.
The directors who have held office during the period from 1 November 2022 to the date of this reportare as follows:
Matias Jorge Domeyko Cassel - appointed - resigned 1 November 2022 3 July 2024
Alejandro Tocigl Domeyko - appointed 1 November 2022
Gianfranco Truffello Jijena - appointed 1 November 2022
Gonzalo Jose Zegers Ruiz-Tagle - appointed 1 November 2022
All the directors who are eligible offer themselves for election at the forthcoming first Annual General Meeting.
................ ................ ................ ................
Director
Date: ................ ................ ................
Page 2
Lemu Global Limited (Registered number: 14454683)
Income Statement | |||
for the Period 1 November 2022 to 31 December 2023 | |||
Notes | $ | ||
TURNOVER |
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||
Cost of sales |
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||
GROSS PROFIT |
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||
Administrative expenses |
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||
OPERATING LOSS | ( |
||
Interest receivable and similar income |
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LOSS BEFORE TAXATION | 4 | ( |
|
Tax on loss | 5 |
|
|
LOSS FOR THE FINANCIAL PERIOD | ( |
The notes form part of these financial statements
Page 3
Lemu Global Limited (Registered number: 14454683)
Other Comprehensive Income | ||
for the Period 1 November 2022 to 31 December 2023 | ||
Notes | $ | |
LOSS FOR THE PERIOD | ( 935,872 ) | |
Other comprehensive income |
|
|
TOTAL COMPREHENSIVE INCOME | ||
FOR THE PERIOD | ( |
|
The notes form part of these financial statements | ||
Page 4 |
Lemu Global Limited (Registered number: 14454683)
Balance Sheet | |||||
31 December 2023 | |||||
Notes | $ | $ | |||
FIXED ASSETS | |||||
Investments | 6 |
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CURRENT ASSETS | |||||
Debtors | 7 |
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Cash at bank |
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CREDITORS | |||||
Amounts falling due within one year | 8 |
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NET CURRENT ASSETS |
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TOTAL ASSETS LESS CURRENT | |||||
LIABILITIES |
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CAPITAL AND RESERVES | |||||
Called up share capital | 9 |
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Share premium |
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Retained earnings | 10 | ( |
|||
SHAREHOLDERS' FUNDS |
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The notes form part of these financial statements Page 5 continued...
Lemu Global Limited (Registered number: 14454683)
Balance Sheet - continued 31 December 2023
The financial statements were approved by the
................ ................ ................ ................
The Board of Directors
The notes form part of these financial statements
Page 6
Lemu Global Limited (Registered number: 14454683)
Statement of Changes in Equity | ||||
for the Period 1 November 2022 to 31 December 2023 | ||||
Called up | ||||
share | Retained | Share | Total | |
capital | earnings | premium | equity | |
$ | $ | $ | $ | |
Changes in equity | ||||
Issue of share capital |
|
|
|
|
Total comprehensive income |
|
( |
|
( 935,872 ) |
Balance at 31 December 2023 | 27,557 | ( 935,872 ) | 13,491,598 | 12,583,283 |
The notes form part of these financial statements | ||||
Page 7 |
Lemu Global Limited (Registered number: 14454683)
Notes to the Financial Statements
for the Period 1 November 2022 to 31 December 2023
1. STATUTORY INFORMATION
Lemu Global Limited is a private company, limited by shares, registered in England and Wales.
The company's registered number and registered office address can be found on the Company Information page.
As of 31 December 2023, Lemu Global Limited is controlled by Arauco Ventures Limited, a company incorporated in England and Wales with registered company number 14393813. Control is by virtue of 99% of Ordinary shares being owned by Arauco Ventures Limited.
The ultimate controlling parties are considered to be
2. ACCOUNTING POLICIES
The financial statements contain information about Lemu Global Limited as an individual companny and do not contain consolidated financial information as the parent of a group. The company is exempt under Section 399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.
Page 8
continued...
Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023
2. ACCOUNTING POLICIES - continued
The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":
ò the requirements of paragraphs 45(b) and 46 to 52 of IFRS 2 Share-based Payment;
ò the requirements of paragraphs 62, B64(d), B64(e), B64(g), B64(h), B64(j) to B64(m), B64(n)(ii), B64(o)(ii), B64(p), B64(q)(ii), B66 and B67 of IFRS 3 Business Combinations;
ò the requirements of paragraph 33(c) of IFRS 5 Non Current Assets Held for Sale and Discontinued Operations;
ò the requirements of paragraph 24(6) of IFRS 6 Exploration for and Evaluation of Mineral Resources;
ò the requirements of IFRS 7 Financial Instruments: Disclosures;
ò the requirements of paragraphs 91 to 99 of IFRS 13 Fair Value Measurement;
ò the requirements of paragraph 52, the second sentence of paragraph 89, and paragraphs 90, 91 and 93 of IFRS 16 Leases;
the requirements of paragraph 58 of IFRS 16;
ò the requirements of the second sentence of paragraph 110 and paragraphs 113(a), 114, 115, 118, 119(a) to (c), 120 to 127 and 129 of IFRS 15 Revenue from Contracts with Customers;
ò the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:
- paragraph 79(a)(iv) of IAS 1;
- paragraph 73(e) of IAS 16 Property, Plant and Equipment;
- paragraph 118(e) of IAS 38 Intangible Assets;
-paragraphs 76 and 79(d) of IAS 40 Investment Property; and
- paragraph 50 of IAS 41 Agriculture;
ò the requirements of paragraphs 10(d), 10)(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D and 111 of IAS 1 Presentation of Financial Statements;
ò the requirements of paragraphs 134 to 136 of IAS 1 Presentation of Financial Statements;
ò the requirements of IAS 7 Statement of Cash Flows;
ò the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;
ò the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;
ò the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;
ò the requirements of paragraphs 134(d) to 134(f) and 135(c) to 135(e) of IAS 36 Impairments of Assets.
Page 9 continued...
Lemu Global Limited (Registered number: 14454683)
Notes to the Financial Statements - continued
for the Period 1 November 2022 to 31 December 2023
Estimates and judgements are continually evaluated and are based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
Critical accounting estimates and assumptions
The company makes estimates and assumptions concerning the future. The resulting accounting estimates will, by definition, seldom equal the related actual results. For this accounting period the company have not had estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities.
Critical judgements in applying the entity's accounting policies
As of 31 December 2023, management have not applied judgement in defining the entity's accounting policies.
Current taxes are based on the results shown in the financial statements and are calculated according to local tax rules, using tax rates enacted or substantially enacted by the balance sheet date.
Assets and liabilities in foreign currencies are translated into USD at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into USD at the rate of exchange ruling at the date of transaction. Exchange differences are taken into account in arriving at the operating result.
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
Investments in subsidiaries are held at cost less accumulated impairment losses. Where investments in subsidiaries have been acquired as a result of a Group restructure and the subsidiary investments are under common control, then the assumed cost is the predecessor book values less accumulated impairment losses.
3. | EMPLOYEES AND DIRECTORS | |
$ | ||
Wages and salaries |
|
|
Social security costs |
|
|
Other pension costs |
|
|
|
Page 10 continued...
Lemu Global Limited (Registered number: 14454683)
Notes to the Financial Statements - continued | ||
for the Period 1 November 2022 to 31 December 2023 | ||
3. | EMPLOYEES AND DIRECTORS - continued | |
The average number of employees during the period was as follows: | ||
Administrative |
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|
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||
4. | LOSS BEFORE TAXATION | |
The loss before taxation is stated after charging: | ||
$ | ||
Cost of inventories recognised as expense |
|
|
Foreign exchange differences |
|
6. | Shares in Group Undertakings | |
$ | ||
COST | ||
Additions |
|
|
At 31 December 2023 |
|
|
NET BOOK VALUE | ||
At 31 December 2023 |
|
|
A controlling interest was purchased in the following companies during the period: | ||
- Lemu Earth a company registered in Chile | ||
- Lemu Inc a company registered in the USA | ||
7. | DEBTORS | |
$ | ||
Amounts falling due within one year: | ||
Other debtors |
|
Page 11 continued...
Lemu Global Limited (Registered number: 14454683)
Notes to the Financial Statements - continued | |||
for the Period 1 November 2022 to 31 December 2023 | |||
7. | DEBTORS - continued | ||
$ | |||
Amounts falling due after more than one year: | |||
Amounts owed by group undertakings |
|
||
Aggregate amounts |
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8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR | ||
$ | |||
Trade creditors |
|
||
Social security and other taxes |
|
||
Other creditors |
|
||
11,467 | |||
9. | CALLED UP SHARE CAPITAL | ||
Allotted, issued and fully paid: | |||
Number: Class: | Nominal | ||
value: | $ | ||
|
|
|
10. | RESERVES | |||
Retained | Share | |||
earnings | premium | Totals | ||
$ | $ | $ | ||
Deficit for the period | ( |
( 935,872 ) | ||
Cash share issue | - | 13,491,598 | 13,491,598 | |
At 31 December 2023 | (935,872) 13,491,598 | 12,555,726 |
11. ULTIMATE PARENT COMPANY
Page 12