2022-03-012023-03-312023-03-31false13948086FULL CIRCLE LABS 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FULL CIRCLE LABS LTD

Registered Number
13948086
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2023

FULL CIRCLE LABS LTD
Company Information
for the period from 1 March 2022 to 31 March 2023

Directors

CRONE, Michael Andrew, Dr
TRAN, Martin

Registered Address

Venture X White City
One Ariel Way
London
W12 7SL

Registered Number

13948086 (England and Wales)
FULL CIRCLE LABS LTD
Balance Sheet as at
31 March 2023

Notes

2023

£

£

Current assets
Debtors532,896
Cash at bank and on hand2,731
35,627
Creditors amounts falling due within one year6(26,246)
Net current assets (liabilities)9,381
Total assets less current liabilities9,381
Net assets9,381
Capital and reserves
Called up share capital2
Profit and loss account9,379
Shareholders' funds9,381
The financial statements were approved and authorised for issue by the Board of Directors on 30 October 2023, and are signed on its behalf by:
CRONE, Michael Andrew, Dr
Director
TRAN, Martin
Director

Registered Company No. 13948086
FULL CIRCLE LABS LTD
Notes to the Financial Statements
for the period ended 31 March 2023

1.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.
2.Compliance with applicable reporting framework
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.
3.Accounting policies
Revenue recognition policy
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.
Taxation policy
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Foreign currency translation and operations policy
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.
4.Employee information

2023
Average number of employees during the year2
5.Debtors

2023

£
Trade debtors / trade receivables11,591
Other debtors6,025
Prepayments and accrued income15,280
Total32,896
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.
6.Creditors within one year

2023

£
Trade creditors / trade payables2,764
Taxation and social security2,186
Other creditors12,582
Accrued liabilities and deferred income8,714
Total26,246
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.