Company registration number 15266626 (England and Wales)
LEMONAID HOLDINGS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
PAGES FOR FILING WITH REGISTRAR
LEMONAID HOLDINGS LIMITED
CONTENTS
Page
Balance sheet
1
Notes to the financial statements
2 - 5
LEMONAID HOLDINGS LIMITED
BALANCE SHEET
AS AT
31 AUGUST 2024
31 August 2024
- 1 -
2024
Notes
£
£
Fixed assets
Investments
3
1,270,297
Current assets
Debtors
4
3
Creditors: amounts falling due within one year
5
(386,758)
Net current liabilities
(386,755)
Net assets
883,542
Capital and reserves
Called up share capital
6
1,151
Other reserves
873,852
Profit and loss reserves
8,539
Total equity
883,542
For the financial Period ended 31 August 2024 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 of its financial statements for the Period in question in accordance with section 476.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 7 January 2025 and are signed on its behalf by:
L Baker
Director
Company registration number 15266626 (England and Wales)
LEMONAID HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 AUGUST 2024
- 2 -
1
Accounting policies
Company information
Lemonaid Holdings Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit A06 Temple Road, Rotherham, S60 1FG.
1.1
Reporting period
The financial statements cover the period from 7 November 2023, being the date of incorporation, to the period ended 31 August 2024, the companies chosen year-end. As a result, the comparative amounts (including the related notes) are not entirely comparable.
1.2
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.
The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention, modified to include certain financial instruments at fair value. Interests in subsidiaries are initially recognised at cost, which included the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. The principal accounting policies adopted are set out below.
The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group. The financial statements present information about the company as an individual entity and not about its group.
1.3
Fixed asset investments
The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.
A subsidiary is an entity controlled by the company. Control is the power to govern the financial and operating policies of the entity so as to obtain benefits from its activities.
1.4
Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
LEMONAID HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
1
Accounting policies
(Continued)
- 3 -
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs.
Impairment of financial assets
Financial assets, other than those held at fair value through profit and loss, are assessed for indicators of impairment at each reporting end date.
Financial assets are impaired where there is objective evidence that, as a result of one or more events that occurred after the initial recognition of the financial asset, the estimated future cash flows have been affected. If an asset is impaired, the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been, had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss.
Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.
Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, loans from fellow group companies and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company. Where equity instruments have been sold in exchange for shares in excess of the nominal value, the excess is reflected in merger reserve.
2
Employees
The average monthly number of persons (including directors) employed by the company during the Period was:
2024
Number
Total
2
LEMONAID HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
- 4 -
3
Fixed asset investments
2024
£
Shares in group undertakings and participating interests
1,270,297
Fixed asset investments revalued
The fair value of the fixed asset investment has been arrived at on the basis of cost when the investment was acquired. The valuation was made on an open market value basis by reference to the consideration payable on the acquisition of share capital during the year. The directors have considered the fair value of the fixed asset investment and confirm that the valuations remain appropriate,
Movements in fixed asset investments
Shares in subsidiaries
£
Cost or valuation
At 7 November 2023
-
Additions
396,445
Valuation changes
873,852
At 31 August 2024
1,270,297
Carrying amount
At 31 August 2024
1,270,297
4
Debtors
2024
Amounts falling due within one year:
£
Other debtors
3
5
Creditors: amounts falling due within one year
2024
£
Other creditors
386,758
Included within other creditors are loans totalling £137,497 which are secured via a fixed and floating charge over all undertaking of the company.
Included within other creditors are amounts owed to directors and shareholders totalling £225,000. The amount is interest free, unsecured and there are no fixed repayment terms.
LEMONAID HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE PERIOD ENDED 31 AUGUST 2024
- 5 -
6
Called up share capital
2024
2024
Ordinary share capital
Number
£
Issued and fully paid
Ordinary shares of £1 each
1,151
1,151
Upon incorporation 3 £1 Ordinary shares were issued at par.
On the 21st December 2023 1,148 £1 Ordinary shares were issued at par.