Company Registration No. 09667722 (England and Wales)
Leaman Life Sciences Limited
Unaudited accounts
for the year ended 31 December 2024
Leaman Life Sciences Limited
Unaudited accounts
Contents
Leaman Life Sciences Limited
Company Information
for the year ended 31 December 2024
Company Number
09667722 (England and Wales)
Registered Office
Suite 1, First Floor
1 Duchess Street
London
W1W 6AN
England
Leaman Life Sciences Limited
Statement of financial position
as at 31 December 2024
Cash at bank and in hand
15,749
239,357
Creditors: amounts falling due within one year
(633,077)
(137,980)
Net current (liabilities)/assets
(366,218)
286,691
Net (liabilities)/assets
(366,218)
300,691
Called up share capital
114
114
Share premium
12,747
12,747
Profit and loss account
(379,079)
287,830
Shareholders' funds
(366,218)
300,691
For the year ending 31 December 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 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 19 February 2025 and were signed on its behalf by
Oliver Garbacz
Director
Company Registration No. 09667722
Leaman Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2024
Leaman Life Sciences Limited is a private company, limited by shares, registered in England and Wales, registration number 09667722. The registered office is Suite 1, First Floor, 1 Duchess Street, London, W1W 6AN, 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 accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Following the decision to cease trading on 31 December 2024 (see Note 7), the director has reviewed all tangible fixed assets and concluded that they have no recoverable value. Consequently, the carrying amount of these assets has been fully written down to £nil in these financial statements.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
Revenue is recognised based on the type of placement as follows:
1. Permanent Placements
Turnover from permanent placements is recognised when the candidate successfully completes the agreed probationary period or after a specified number of months of employment, as outlined in the contractual terms. Invoices for these placements are typically issued upon confirmation of the candidate's continued employment after this period.
2. Temporary Placements
Turnover from temporary placements is recognised at the end of each agreed period, corresponding to the completion of the placement's service. Invoices are generated periodically based on the hours or days worked as reported and agreed by the client.
Revenue is only recognised when it is probable that payment will be received, and the amount can be measured reliably.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Leaman Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2024
Cessation of Trading and Going Concern
On 31 December 2024, the company ceased trading due to incurring significant losses and being unable to meet its obligations to creditors.
As a result, the director has concluded that the company can no longer continue as a going concern.
Therefore, these financial statements have been prepared on a basis other than going concern (often referred to as the break-up basis or realisation basis under UK GAAP).
Reason for Cessation
The company has suffered significant trading losses, causing substantial erosion of its capital.
The company is unable to pay its creditors as they fall due.
Consequently, the director made the decision to cease all trading activities on 31 December 2024.
Impact on the Financial Statements
Going Concern: As the company has ceased to trade and has no realistic prospect of securing additional funding or resuming operations, these financial statements are not prepared on a going concern basis.
Measurement of Assets and Liabilities:
Assets are measured at the lower of carrying amount or their estimated net realisable value.
Liabilities are presented in accordance with their contractual terms and the directors’ best estimates of settlement amounts.
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2024
5,395
31,657
37,052
Disposals
(5,395)
(31,657)
(37,052)
At 1 January 2024
2,395
20,657
23,052
Charge for the year
2,000
5,000
7,000
On disposals
(4,395)
(25,657)
(30,052)
At 31 December 2023
3,000
11,000
14,000
Amounts falling due within one year
Trade debtors
37,756
117,593
Accrued income and prepayments
-
24,560
Other debtors
182,219
3,341
Leaman Life Sciences Limited
Notes to the Accounts
for the year ended 31 December 2024
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
167,947
47,706
Taxes and social security
127,759
27,085
Other creditors
316,150
2,806
7
Post balance sheet events
Employees
As a result of the cessation of trading, all employees have been made redundant.
The related costs of redundancy have been included in these financial statements under Wages.
Future Outlook
The director is taking steps to realise the remaining assets and settle outstanding obligations.
The director is in the process of appointing an insolvency practitioner.
8
Average number of employees
During the year the average number of employees was 12 (2023: 18).