2022-12-012023-11-302023-11-30false09322427LEAN AEROSPACE CONSULTING 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LEAN AEROSPACE CONSULTING LTD

Registered Number
09322427
(England and Wales)

Unaudited Financial Statements for the Year ended
30 November 2023

LEAN AEROSPACE CONSULTING LTD
Company Information
for the year from 1 December 2022 to 30 November 2023

Director

VLACHOGIANNIS, Ioannis

Registered Address

1 Park Gardens
Yeovil
BA20 1DW

Registered Number

09322427 (England and Wales)
LEAN AEROSPACE CONSULTING LTD
Balance Sheet as at
30 November 2023

Notes

2023

2022

£

£

£

£

Fixed assets
Tangible assets3847-
847-
Current assets
Debtors38596
Cash at bank and on hand28,31259,823
28,69759,919
Creditors amounts falling due within one year5(3,609)(6,129)
Net current assets (liabilities)25,08853,790
Total assets less current liabilities25,93553,790
Net assets25,93553,790
Capital and reserves
Called up share capital55
Profit and loss account25,93053,785
Shareholders' funds25,93553,790
The financial statements were approved and authorised for issue by the Director on 7 March 2024, and are signed on its behalf by:
VLACHOGIANNIS, Ioannis
Director
Registered Company No. 09322427
LEAN AEROSPACE CONSULTING LTD
Notes to the Financial Statements
for the year ended 30 November 2023

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Tangible fixed assets and depreciation
All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Straight line (years)
Office Equipment4
2.Average number of employees

20232022
Average number of employees during the year11
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions1,0991,099
At 30 November 231,0991,099
Depreciation and impairment
Charge for year252252
At 30 November 23252252
Net book value
At 30 November 23847847
At 30 November 22--
4.Debtors: amounts due within one year

2023

2022

££
Other debtors38596
Total38596
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
5.Creditors: amounts due within one year

2023

2022

££
Amounts owed to related parties3,2493,009
Taxation and social security-2,400
Accrued liabilities and deferred income360720
Total3,6096,129
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.