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Abbreviated Accounts For The Year Ended 30 April 2016 |
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Lean IP Ltd |
REGISTERED NUMBER:
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Abbreviated Accounts For The Year Ended 30 April 2016 |
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Lean IP Ltd |
Lean IP Ltd (Registered number: SC476175) |
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Contents of the Abbreviated Accounts |
For The Year Ended 30 April 2016 |
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Company Information | 1 |
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Abbreviated Balance Sheet | 2 |
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Notes to the Abbreviated Accounts | 3 |
Lean IP Ltd |
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Company Information |
For The Year Ended 30 April 2016 |
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DIRECTOR: |
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REGISTERED OFFICE: |
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REGISTERED NUMBER: |
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ACCOUNTANTS: |
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Chartered Accountants |
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Lean IP Ltd (Registered number: SC476175) |
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Abbreviated Balance Sheet |
30 April 2016 |
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2016 | 2015 |
Notes | £ | £ | £ | £ |
FIXED ASSETS |
Tangible assets | 2 |
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CURRENT ASSETS |
Stocks |
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Debtors |
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Cash at bank |
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CREDITORS |
Amounts falling due within one year |
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NET CURRENT ASSETS/(LIABILITIES) |
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TOTAL ASSETS LESS CURRENT
LIABILITIES |
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PROVISIONS FOR LIABILITIES |
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NET ASSETS |
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CAPITAL AND RESERVES |
Called up share capital | 3 |
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Profit and loss account |
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SHAREHOLDERS' FUNDS |
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The director acknowledges his responsibilities for: |
(a) |
ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies
Act 2006 and |
(b) |
preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of
each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
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The financial statements were approved by the director on
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Lean IP Ltd (Registered number: SC476175) |
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Notes to the Abbreviated Accounts |
For The Year Ended 30 April 2016 |
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1. | ACCOUNTING POLICIES |
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Accounting convention |
The financial statements have been prepared under the historical cost convention and in accordance with the |
Financial Reporting Standard for Smaller Entities (effective January 2015). |
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Turnover |
Turnover is stated net of VAT and trade discounts. Turnover from the supply of services represents the value of |
services provided under contracts to the extent that there is a right to consideration and is recorded at the value |
of the consideration due. Where a contract has only been partially completed at the balance sheet date turnover |
represents the value of the service provided to the date based on a proportion of the total contract value. Where |
payments are received from customers in advance of services provided, the amounts are recorded as Deferred |
Income and included as part of Creditors due within one year. |
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Tangible fixed assets |
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Office equipment | - |
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Stocks |
Work in progress is valued at the lower of cost and net realisable value. |
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Cost includes all direct expenditure and an appropriate proportion of fixed and variable overheads. |
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Deferred tax |
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance |
sheet date where transactions or events that result in an obligation to pay more tax in the future, or a right to pay |
less tax in the future, have occurred at the balance sheet date. Timing differences are differences between the |
Company's taxable profits and its results as stated in the financial statements that arise from the inclusion of |
gains or losses in tax assessments in periods different from those in which they are recognised in the financial |
statements. Deferred tax assets are recognised to the extent they are recoverable and where future taxable profits |
are anticipated. |
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Deferred tax is measured at the average tax rates that are expected to apply in the periods in which the timing |
differences are expected to reverse, based on tax rates and laws that have been enacted or substantially enacted |
by the balance sheet date. Deferred tax is measured on a non-discounted basis. |
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Hire purchase and leasing commitments |
Rentals paid under operating leases are charged to the profit and loss account on a straight line basis over the |
period of the lease. |
Lean IP Ltd (Registered number: SC476175) |
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Notes to the Abbreviated Accounts - continued |
For The Year Ended 30 April 2016 |
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2. | TANGIBLE FIXED ASSETS |
Total |
£ |
COST |
At 1 May 2015 |
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Additions |
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At 30 April 2016 |
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DEPRECIATION |
At 1 May 2015 |
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Charge for year |
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At 30 April 2016 |
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NET BOOK VALUE |
At 30 April 2016 |
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At 30 April 2015 |
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3. | CALLED UP SHARE CAPITAL |
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Allotted and issued: |
Number: | Class: | Nominal | 2016 | 2015 |
value: | £ | £ |
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Share capital 1 | £1 |
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