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Registered number: 13927566
Lean Life Science Limited
Unaudited Financial Statements
For The Year Ended 29 February 2024
Integral Bio Partner LLP
Contents
Page
Balance Sheet 1
Notes to the Financial Statements 2—3
Page 1
Balance Sheet
Registered number: 13927566
29 February 2024 28 February 2023
Notes £ £ £ £
CURRENT ASSETS
Debtors 4 149,258 60,000
Cash at bank and in hand 21,001 29,192
170,259 89,192
Creditors: Amounts Falling Due Within One Year 5 (162,307 ) (188,611 )
NET CURRENT ASSETS (LIABILITIES) 7,952 (99,419 )
TOTAL ASSETS LESS CURRENT LIABILITIES 7,952 (99,419 )
NET ASSETS/(LIABILITIES) 7,952 (99,419 )
CAPITAL AND RESERVES
Called up share capital 6 1,000 1,000
Profit and Loss Account 6,952 (100,419 )
SHAREHOLDERS' FUNDS 7,952 (99,419)
For the year ending 29 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 Edward Wakeman
Director
30/11/2024
The notes on pages 2 to 3 form part of these financial statements.
Page 1
Page 2
Notes to the Financial Statements
1. General Information
Lean Life Science Limited is a private company, limited by shares, incorporated in England & Wales, registered number 13927566 . The registered office is Suite 21G3 Alderley Park, Congleton Road, Nether Alderley, SK10 4TG.
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. Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover for the company relates to funding of specific multi-stage programmes. The recognition of income is recognised with reference to the delivery of programme stages and their relative scale.
2.3. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.
2.4. Government Grant
Government grants are recognised in the profit and loss account in an appropriate manner that matches them with the expenditure towards which they are intended to contribute.
All grants in the profit and loss account are recognised when all conditions for receipt have been complied with.
3. Average Number of Employees
Average number of employees, including directors, during the year was: 1 (2023: 1)
1 1
4. Debtors
29 February 2024 28 February 2023
£ £
Due within one year
Trade debtors - 60,000
Prepayments and accrued income 137,261 -
VAT 11,997 -
149,258 60,000
5. Creditors: Amounts Falling Due Within One Year
29 February 2024 28 February 2023
£ £
Trade creditors 1,997 6,625
Corporation tax 2,346 -
VAT - 28,632
Net wages 10,964 15,654
Accruals and deferred income 2,000 137,700
Director's loan account 145,000 -
162,307 188,611
Page 2
Page 3
6. Share Capital
29 February 2024 28 February 2023
£ £
Allotted, Called up and fully paid 1,000 1,000
7. Related Party Transactions
During the year a director loan was made to the company, which was outstanding at the end of the financial year. The loan was made free of interest charges.
Edward WakemanDirectorLoan Capital £145,000

Edward Wakeman

Director

Loan Capital £145,000

Page 3