Lone Star Analysis Ltd

Contents

Balance Sheet	1
Notes to the Financial Statements	2 to 8

Lone Star Analysis Ltd

Balance Sheet

31 December 2024

	Note	2024 £	2023 £
Fixed assets
Tangible assets	4	107,730	102,153
Current assets
Debtors	5	214,702	88,229
Cash at bank and in hand		16,231	21,161
		230,933	109,390
Current liabilities
Creditors: Amounts falling due within one year	6	(385,770)	(44,042)
Non current liabilities
Creditors: Amounts falling due in over a year		(1,796,735)	(1,554,008)
Net current liabilities		(1,951,572)	(1,488,660)
Net liabilities		(1,843,842)	(1,386,507)
Capital and reserves
Called up share capital	7	2	2
Capital contribution reserve		38,039	38,039
Profit and loss account		(1,881,883)	(1,424,548)
Shareholders' deficit		(1,843,842)	(1,386,507)

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and the option not to file the Profit and Loss Account has been taken.

Approved and authorised by the Board on 23 December 2025 and signed on its behalf by:
 

......................................... S D Roemerman Director

Company Registration Number: 13046439

Lone Star Analysis Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Units 0.01 & 0.02
The Alchemy Building Phase Ii
Lincoln Science And Innovation Park
Poplar Avenue
Lincoln
LN6 7DJ
United Kingdom

These financial statements were authorised for issue by the Board on 23 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

These financial statements have been prepared in British pound sterling, rounded to the nearest whole pound.

Summary of disclosure exemptions

The company has taken advantage of the exemption in Financial Reporting Standard 102 chapter 33 “Related Party Disclosure” and has not disclosed transactions with wholly owned group undertakings or wholly owned indirectly by the ultimate controlling party.

Going concern

The Board considers the company to be a going concern as it is supported by its parent company, Lone Star Aerospace, Inc., which has agreed to provide continued support for at least a period of 12 months following the date of approval of these financial statements. The Board is satisfied that the support of the parent company will enable the company to meet its obligations as they fall due. The financial statements have therefore been prepared on a going concern basis.

Lone Star Analysis Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

Judgements

As the company has net liabilities and negative retained earnings, the Going Concern of the company is considered a key judgement. The Directors have considered the ability of the company to continue to meet its liabilities for a period of 12 months from the approval of these financial statements. In doing so, they have considered the company's cash flow needs which, if necessary, will be met by a loan facility in place with its parent company. The company retains the support of its parent company, who have agreed to support it to meet its liabilities for a period of at least 12 months from the signing of these financial statements, and to not require repayment of any loan until the company has the means to do so. In addition, the Directors are optimistic about the company's sales pipeline, and have recently secured work on the first phase of a significant contract which has potential to be extended to subsequent phases. Therefore, the Directors are satisfied that the use of the Going Concern basis of accounting in these financial statements is appropriate.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of value added tax, returns, rebates and discounts and after eliminating sales within the company.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.


Service contract revenue is recognised in accordance with the stage of completion of the contract.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Lone Star Analysis Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

Asset class	Depreciation method and rate
Leasehold improvements	Over the remaining term of the lease
Fixtures and fittings	20% straight line
Computer equipment	25% straight line
Office equipment	25% straight line

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Lone Star Analysis Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

Financial instruments

Classification
The company holds the following financial instruments:

• Short term trade and other debtors and creditors;
• Intercompany loans; and
• Cash and bank balances.

All financial instruments are classified as basic.

 Recognition and measurement
The company has chosen to apply the recognition and measurement principles in FRS102.

Financial instruments are recognised when the company becomes party to the contractual provisions of the instrument and derecognised when in the case of assets, the contractual rights to cash flows from the assets expire or substantially all the risks and rewards of ownership are transferred to another party, or in the case of liabilities, when the company’s obligations are discharged, expire or are cancelled.

Except for bank loans, such instruments are initially measured at transaction price, including transaction costs, and are subsequently carried at the undiscounted amount of the cash or other consideration expected to be paid or received, after taking account of impairment adjustments.

Bank loans are initially measured at transaction price, including transaction costs, and are subsequently carried at amortised cost using the effective interest method.


 

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 8 (2023 - 7).

Lone Star Analysis Ltd

Notes to the Financial Statements

Year Ended 31 December 2024

4	Tangible assets

	Leasehold Improvements £	Furniture, fittings and equipment  £	Total £
Cost or valuation
At 1 January 2024	86,723	16,738	103,461
Additions	4,113	29,981	34,094
At 31 December 2024	90,836	46,719	137,555
Depreciation
At 1 January 2024	-	1,308	1,308
Charge for the year	18,752	9,765	28,517
At 31 December 2024	18,752	11,073	29,825
Carrying amount
At 31 December 2024	72,084	35,646	107,730
At 31 December 2023	86,723	15,430	102,153

Included within the net book value of land and buildings above is £72,084 (2023 - £86,723) in respect of short leasehold land and buildings.
 

5

Debtors

Due within one year	2024 £	2023 £
Trade debtors	186,856	47,333
Prepayments	18,585	9,958
Other debtors	1,200	572
VAT receivable	-	17,103
	206,641	74,966