Acorah Software Products - Accounts Production 16.0.110 false true true 28 February 2023 1 March 2022 false 1 March 2023 28 February 2024 28 February 2024 11215867 Mr Dejie Ou iso4217:GBP iso4217:EUR iso4217:USD xbrli:shares xbrli:pure xbrli:pure 11215867 2023-02-28 11215867 2024-02-28 11215867 2023-03-01 2024-02-28 11215867 frs-core:CurrentFinancialInstruments 2024-02-28 11215867 frs-core:ComputerEquipment 2024-02-28 11215867 frs-core:ComputerEquipment 2023-03-01 2024-02-28 11215867 frs-core:ComputerEquipment 2023-02-28 11215867 frs-core:FurnitureFittings 2024-02-28 11215867 frs-core:FurnitureFittings 2023-03-01 2024-02-28 11215867 frs-core:FurnitureFittings 2023-02-28 11215867 frs-core:ShareCapital 2024-02-28 11215867 frs-core:RetainedEarningsAccumulatedLosses 2024-02-28 11215867 frs-bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-28 11215867 frs-bus:FilletedAccounts 2023-03-01 2024-02-28 11215867 frs-bus:SmallEntities 2023-03-01 2024-02-28 11215867 frs-bus:AuditExempt-NoAccountantsReport 2023-03-01 2024-02-28 11215867 frs-bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-28 11215867 frs-bus:Director1 2023-03-01 2024-02-28 11215867 frs-countries:EnglandWales 2023-03-01 2024-02-28 11215867 2022-02-28 11215867 2023-02-28 11215867 2022-03-01 2023-02-28 11215867 frs-core:CurrentFinancialInstruments 2023-02-28 11215867 frs-core:ShareCapital 2023-02-28 11215867 frs-core:RetainedEarningsAccumulatedLosses 2023-02-28
Registered number: 11215867
Leman Holding Limited
Unaudited Financial Statements
For The Year Ended 28 February 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—5
Page 1
Balance Sheet
Registered number: 11215867
2024 2023
Notes £ £ £ £
FIXED ASSETS
Tangible Assets 4 140,405 169,508
Investment Properties 5 1,000,000 1,000,000
1,140,405 1,169,508
CURRENT ASSETS
Debtors 6 - 5,975
Cash at bank and in hand 162,404 214,196
162,404 220,171
Creditors: Amounts Falling Due Within One Year 7 (1,528,267 ) (1,537,650 )
NET CURRENT ASSETS (LIABILITIES) (1,365,863 ) (1,317,479 )
TOTAL ASSETS LESS CURRENT LIABILITIES (225,458 ) (147,971 )
NET LIABILITIES (225,458 ) (147,971 )
CAPITAL AND RESERVES
Called up share capital 8 100 100
Profit and Loss Account (225,558 ) (148,071 )
SHAREHOLDERS' FUNDS (225,458) (147,971)
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For the year ending 28 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
The member has 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.
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
4 October 2024
The notes on pages 3 to 5 form part of these financial statements.
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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
0Average number of employees, including directors, during the year was: NIL (2023: NIL)
- -
4. Tangible Assets
Fixtures & Fittings Computer Equipment Total
£ £ £
Cost
As at 1 March 2023 291,034 799 291,833
As at 28 February 2024 291,034 799 291,833
Depreciation
As at 1 March 2023 121,526 799 122,325
Provided during the period 29,103 - 29,103
As at 28 February 2024 150,629 799 151,428
Net Book Value
As at 28 February 2024 140,405 - 140,405
As at 1 March 2023 169,508 - 169,508
Cost or valuation as at 28 February 2024 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
2024
£
Fair Value
As at 1 March 2023 and 28 February 2024 1,000,000
6. Debtors
2024 2023
£ £
Due within one year
Other debtors - 5,975
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7. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Bank loans and overdrafts 722,987 588,471
VAT 5,090 18,333
Other creditors 800,190 930,846
1,528,267 1,537,650
Other creditors include amounts aggregating £600,290 (2023: £600,290) due to the director of the company, Dejie Ou and £165,900 (2023: £165,900) due to the company shareholder, Tea Hui San. The loans are interest free and repayable on demand.
8. Share Capital
2024 2023
£ £
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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