IRIS Accounts Production v25.1.0.734 08718692 Board of Directors 1.1.24 31.12.24 31.12.24 false true true false false true true true true false false Ordinary A,B,C,D,E 0.10000 iso4217:GBP iso4217:USD iso4217:EUR xbrli:shares xbrli:pure utr:tonnes utr:kWh 08718692 2023-12-31 08718692 2024-12-31 08718692 2024-01-01 2024-12-31 08718692 2022-12-31 08718692 2023-01-01 2023-12-31 08718692 2023-12-31 08718692 ns15:EnglandWales 2024-01-01 2024-12-31 08718692 ns14:PoundSterling 2024-01-01 2024-12-31 08718692 ns10:Director1 2024-01-01 2024-12-31 08718692 ns10:PrivateLimitedCompanyLtd 2024-01-01 2024-12-31 08718692 ns10:FRS101 2024-01-01 2024-12-31 08718692 ns10:Audited 2024-01-01 2024-12-31 08718692 ns10:SmallCompaniesRegimeForDirectorsReport 2024-01-01 2024-12-31 08718692 ns10:FullAccounts 2024-01-01 2024-12-31 08718692 ns10:OrdinaryShareClass1 2024-01-01 2024-12-31 08718692 ns10:Director2 2024-01-01 2024-12-31 08718692 ns10:Director4 2024-01-01 2024-12-31 08718692 ns10:RegisteredOffice 2024-01-01 2024-12-31 08718692 ns10:Director3 2024-01-01 2024-12-31 08718692 ns5:ShareCapital 2024-12-31 08718692 ns5:ShareCapital 2023-12-31 08718692 ns5:RetainedEarningsAccumulatedLosses 2024-12-31 08718692 ns5:RetainedEarningsAccumulatedLosses 2023-12-31 08718692 ns5:ShareCapital 2022-12-31 08718692 ns5:RetainedEarningsAccumulatedLosses 2022-12-31 08718692 1 2024-01-01 2024-12-31 08718692 ns10:OrdinaryShareClass1 2024-12-31

REGISTERED NUMBER: 08718692 (England and Wales)

Report of the Directors and

Financial Statements for the Year Ended 31 December 2024

for

Project Bond Holdco Limited

Project Bond Holdco Limited (Registered number: 08718692)

Contents of the Financial Statements

for the Year Ended 31 December 2024

Page |

Company Information | 1 |

Report of the Directors | 2 |

Statement of Directors' Responsibilities | 3 |

Report of the Independent Auditors | 4 |

Statement of Comprehensive Income | 8 |

Balance Sheet | 9 |

Statement of Changes in Equity | 10 |

Notes to the Financial Statements | 11 |

Project Bond Holdco Limited

Company Information

for the Year Ended 31 December 2024

| DIRECTORS: | Y Xue

| A I Laiho

| S C Rowell

| REGISTERED OFFICE: | Seal Sands

| Middlesbrough

| Cleveland

| TS2 1UB

| REGISTERED NUMBER: | 08718692 (England and Wales)

| AUDITORS: | Shinewing Wilson Accountancy Limited

| Chartered Certified Accountants

| and Statutory Auditors

| 9 St Clare Street

| London

| EC3N 1LQ

Project Bond Holdco Limited (Registered number: 08718692)

Report of the Directors

for the Year Ended 31 December 2024

The directors present their report with the financial statements of the company for the year ended 31 December 2024.

PRINCIPAL ACTIVITY

The Company did not trade during the year.

DIRECTORS

Y Xue has held office during the whole of the period from 1 January 2024 to the date of this report.

Other changes in directors holding office are as follows:

A I Laiho and S C Rowell were appointed as directors after 31 December 2024 but prior to the date of this report.

T M J Bollaert ceased to be a director after 31 December 2024 but prior to the date of this report.

STATEMENT AS TO DISCLOSURE OF INFORMATION TO AUDITORS

So far as the directors are aware, there is no relevant audit information (as defined by Section 418 of the Companies Act 2006) of which the company's auditors are unaware, and each director has taken all the steps that he or she ought to have taken as a director in order to make himself or herself aware of any relevant audit information and to establish that the company's auditors are aware of that information.

AUDITORS

The auditors, Shinewing Wilson Accountancy Limited, will be proposed for re-appointment at the forthcoming Annual General Meeting.

This report has been prepared in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

ON BEHALF OF THE BOARD:

A I Laiho - Director

13 June 2025

Project Bond Holdco Limited (Registered number: 08718692)

Statement of Directors' Responsibilities

for the Year Ended 31 December 2024

The directors are responsible for preparing the Report of the Directors and the financial statements in accordance with applicable law and regulations.

Company law requires the directors to prepare financial statements for each financial year. Under that law the directors have elected to prepare the financial statements in accordance with United Kingdom Generally Accepted Accounting Practice (United Kingdom Accounting Standards and applicable law). Under company law the directors must not approve the financial statements unless they are satisfied that they give a true and fair view of the state of affairs of the company and of the profit or loss of the company for that period. In preparing these financial statements, the directors are required to:

- | select suitable accounting policies and then apply them consistently;

- | make judgements and accounting estimates that are reasonable and prudent;

- | prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.

The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.

Report of the Independent Auditors to the Members of

Project Bond Holdco Limited

Opinion

We have audited the financial statements of Project Bond Holdco Limited (the 'company') for the year ended 31 December 2024 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and Notes to the Financial Statements, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 101 'Reduced Disclosure Framework' (United Kingdom Generally Accepted Accounting Practice).

In our opinion the financial statements:

- | give a true and fair view of the state of the company's affairs as at 31 December 2024;

- | have been properly prepared in accordance with United Kingdom Generally Accepted Accounting Practice; and

- | have been prepared in accordance with the requirements of the Companies Act 2006.

Basis for opinion

We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the UK, including the FRC's Ethical Standard, and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.

Conclusions relating to going concern

In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.

Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.

Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.

Other information

The directors are responsible for the other information. The other information comprises the information in the Report of the Directors and the Statement of Directors' Responsibilities, but does not include the financial statements and our Report of the Auditors thereon.

Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon.

In connection with our audit of the financial statements, our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact. We have nothing to report in this regard.

Opinions on other matters prescribed by the Companies Act 2006

In our opinion, based on the work undertaken in the course of the audit:

- | the information given in the Report of the Directors for the financial year for which the financial statements are prepared is consistent with the financial statements; and

- | the Report of the Directors has been prepared in accordance with applicable legal requirements.

Report of the Independent Auditors to the Members of

Project Bond Holdco Limited

Matters on which we are required to report by exception

In the light of the knowledge and understanding of the company and its environment obtained in the course of the audit, we have not identified material misstatements in the Report of the Directors.

We have nothing to report in respect of the following matters where the Companies Act 2006 requires us to report to you if, in our opinion:

- | adequate accounting records have not been kept, or returns adequate for our audit have not been received from branches not visited by us; or

- | the financial statements are not in agreement with the accounting records and returns; or

- | certain disclosures of directors' remuneration specified by law are not made; or

- | we have not received all the information and explanations we require for our audit; or

- | the directors were not entitled to prepare the financial statements in accordance with the small companies regime and take advantage of the small companies' exemption from the requirement to prepare a Strategic Report or in preparing the Report of the Directors.

Responsibilities of directors

As explained more fully in the Statement of Directors' Responsibilities set out on page three, the directors are responsible for the preparation of the financial statements and for being satisfied that they give a true and fair view, and for such internal control as the directors determine necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, the directors are responsible for assessing the company's ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless the directors either intend to liquidate the company or to cease operations, or have no realistic alternative but to do so.

Report of the Independent Auditors to the Members of

Project Bond Holdco Limited

Auditors' responsibilities for the audit of the financial statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue a Report of the Auditors that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.

The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:

Discussions with and enquiries of management and those charged with governance were held with a view to identifying those laws and regulations that could be expected to have a material impact on the financial statements. During the engagement team briefing, the outcomes of these discussions and enquiries were shared with the team, as well as consideration as to where and how fraud may occur in the entity.

The following laws and regulations were identified as being of significance to the entity:

- Those laws and regulations considered to have a direct effect on the financial statements include UK financial reporting standards, Company Law, Tax and distributable profits legislation.

- Those laws and regulations for which non-compliance may be fundamental to the business and therefore may have a material effect on the financial statements include environmental regulations, health and safety legislation, employment law, and General Data Protection Regulation (GDPR).

Audit procedures undertaken in response to the potential risks relating to irregularities (which include fraud and non-compliance with laws and regulations) comprised of: inquiries of management and those charged with governance as to whether the entity complies with such laws and regulations; enquiries with the same concerning any actual or potential litigation or claims; inspection of relevant legal correspondence; review of board minutes; testing the appropriateness of entries in the nominal ledger, including journal entries; reviewing transactions around the end of the reporting period; and the performance of analytical procedures to identify unexpected movements in account balances which may be indicative of fraud. The company is dormant during the year.

No instances of material non-compliance were identified. However, the likelihood of detecting irregularities, including fraud, is limited by the inherent difficulty in detecting irregularities, the effectiveness of the entity's controls, and the nature, timing and extent of the audit procedures performed. Irregularities that result from fraud might be inherently more difficult to detect than irregularities that result from error. As explained above, there is an unavoidable risk that material misstatements may not be detected, even though the audit has been planned and performed in accordance with ISAs (UK).

A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at www.frc.org.uk/auditorsresponsibilities. This description forms part of our Report of the Auditors.

Report of the Independent Auditors to the Members of

Project Bond Holdco Limited

Use of our report

This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in a Report of the Auditors and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members as a body, for our audit work, for this report, or for the opinions we have formed.

Nijendra Dhungana FCCA (Senior Statutory Auditor)

for and on behalf of Shinewing Wilson Accountancy Limited

Chartered Certified Accountants

and Statutory Auditors

9 St Clare Street

London

EC3N 1LQ

20 June 2025

Project Bond Holdco Limited (Registered number: 08718692)

Statement of Comprehensive Income

for the Year Ended 31 December 2024

| 31.12.24 |  | 31.12.23

| Notes | £'000 | £'000 |

TURNOVER | - |  | - |  |

OPERATING PROFIT and |

PROFIT BEFORE TAXATION | 5 | - |  | - |  |

Tax on profit | 6 | - |  | - |  |

PROFIT FOR THE FINANCIAL YEAR | - |  | - |  |

OTHER COMPREHENSIVE INCOME | - |  | - |  |

TOTAL COMPREHENSIVE INCOME FOR THE YEAR | - |  | - |  |

Project Bond Holdco Limited (Registered number: 08718692)

Balance Sheet

31 December 2024

| 31.12.24 |  | 31.12.23

| Notes | £'000 | £'000 | £'000 | £'000 |

TOTAL ASSETS LESS CURRENT LIABILITIES | - |  | - |  |

CAPITAL AND RESERVES

Called up share capital | 7 | 10 |  | 10 |  |

Retained earnings | (10 | ) | (10 | ) |

SHAREHOLDERS' FUNDS | - |  | - |  |

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the Board of Directors and authorised for issue on 13 June 2025 and were signed on its behalf by:

A I Laiho - Director

Project Bond Holdco Limited (Registered number: 08718692)

Statement of Changes in Equity

for the Year Ended 31 December 2024

| Called up |

| share |  | Retained |  | Total

| capital |  | earnings |  | equity

£'000 | £'000 | £'000 |

Balance at 1 January 2023 | 10 |  | (10 | ) | - |  |

Changes in equity

Balance at 31 December 2023 | 10 |  | (10 | ) | - |  |

Changes in equity

Balance at 31 December 2024 | 10 |  | (10 | ) | - |  |

Project Bond Holdco Limited (Registered number: 08718692)

Notes to the Financial Statements

for the Year Ended 31 December 2024

1. | STATUTORY INFORMATION

| Project Bond Holdco 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.

| The presentation currency of the financial statements is the Pound Sterling (£).

2. | ACCOUNTING POLICIES

| Basis of preparation

| These financial statements have been prepared in accordance with Financial Reporting Standard 101 "Reduced Disclosure Framework" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

| The company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by FRS 101 "Reduced Disclosure Framework":

| • | the requirement in paragraph 38 of IAS 1 Presentation of Financial Statements to present comparative information in respect of:

| - | paragraphs 53(a), (h) and (j) of IFRS 16;

| • | the requirements of paragraphs 10(d), 10(f), 16, 38A, 38B, 38C, 38D, 40A, 40B, 40C, 40D, 111 and 134 to 136 of IAS 1;

| • | the requirements of

| - | paragraphs 1 to 44E, 44H(b)(ii) and 45 to 63 of IAS 7 Statement of Cash Flows; and

| - | paragraphs 44F, 44G, 44H(a), 44H(b)(i), 44H(b)(iii) and 44H(c) of IAS 7;

| • | the requirements of paragraphs 30 and 31 of IAS 8 Accounting Policies, Changes in Accounting Estimates and Errors;

| • | the requirements of paragraphs 88C and 88D of IAS 12 Income Taxes;

| • | the requirements of paragraph 74(b) of IAS 16;

| • | the requirements of paragraphs 17 and 18A of IAS 24 Related Party Disclosures;

| • | the requirements in IAS 24 Related Party Disclosures to disclose related party transactions entered into between two or more members of a group;

| Going concern

| The company remains dormant and it would continue to prepare such accounts on a going concern basis, where the company is solvent and could re-commence trading at a point in the future.

| Taxation

| 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.

| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Project Bond Holdco Limited (Registered number: 08718692)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

3. | CRITICAL ACCOUNTING JUDGEMENTS AND KEY SOURCES OF ESTIMATION UNCERTAINTY

| The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the application of the accounting policies and reported amounts of assets and liabilities, revenue and expenses. Actual results may differ from these estimates.

| Estimates and underlying assumptions are continually evaluated and are based on historical experience and other factors, including expectations of future events that are reasonable under the circumstances. Revisions to accounting estimates are recognised in the year in which the estimates are revised and in any future years affected.

| Given the dormant position of the business, the directors do not consider there to be any critical accounting judgements and sources of estimation uncertainty.

4. | EMPLOYEES AND DIRECTORS

| There were no staff costs for the year ended 31 December 2024 nor for the year ended 31 December 2023.

| The average number of employees during the year was as follows:

| 31.12.24 |  | 31.12.23

| Directors | 2 |  | 2 |  |

| 31.12.24 |  | 31.12.23

£ | £ |

| Directors' remuneration | - |  | - |  |

5. | PROFIT BEFORE TAXATION

| The auditors' fees are borne by a fellow subsidiary undertaking, Fine Organics Limited, and amounted to £800 in the year (2023: £800).

6. | TAXATION

| Analysis of tax expense

| No liability to UK corporation tax arose for the year ended 31 December 2024 nor for the year ended 31 December 2023.

7. | CALLED UP SHARE CAPITAL

| Allotted, issued and fully paid:

| Number: | Class: | Nominal | 31.12.24 |  | 31.12.23

| value: | £'000 | £'000 |

| 103,324 | Ordinary A,B,C,D,E | £0.10 | 10 |  | 10 |  |

| Same as last year, the Company has ordinary A share of 65,755 at £0.10 each, ordinary B share of 8,397 at £0.10 each, ordinary C share of 5,094 at £0.10 each, ordinary D share of 15,094 at £0.10 each, and ordinary E share of 8,984 at £0.10 each.

Project Bond Holdco Limited (Registered number: 08718692)

Notes to the Financial Statements - continued

for the Year Ended 31 December 2024

8. | ULTIMATE CONTROLLING PARTY

| The immediate parent undertaking of the Company is Lianhetech Europe Ltd, a company incorporated in the UK.

| The intermediate parent undertaking of the Company is Lianhetech Holdco Ltd, a company incorporated in the UK.

| The ultimate parent undertaking of the Company is Lianhe Chemical Technology Co. Ltd, a company incorporated in P.R. China. This is the largest and smallest group for which consolidated financial statements are prepared.

| Ms Jinxiang Mu is the ultimate controlling party.