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REGISTERED NUMBER: 11922505 (England and Wales)















Unaudited Financial Statements for the Year Ended 30 September 2023

for

Locilabs Limited

Locilabs Limited (Registered number: 11922505)






Contents of the Financial Statements
for the Year Ended 30 September 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


Locilabs Limited

Company Information
for the Year Ended 30 September 2023







DIRECTORS: A Bykowski
C G R Stretton





REGISTERED OFFICE: 32 Leicester Street
Melton Mowbray
Leicestershire
LE13 0PP





REGISTERED NUMBER: 11922505 (England and Wales)





ACCOUNTANTS: RR Accountancy Ltd
Chartered Accountant
32 Leicester Street
Melton Mowbray
Leicestershire
LE13 0PP

Locilabs Limited (Registered number: 11922505)

Balance Sheet
30 September 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,222 4,158

CURRENT ASSETS
Stocks 2,950 40,575
Debtors 5 39,780 55,425
Cash at bank 15,431 460
58,161 96,460
CREDITORS
Amounts falling due within one year 6 49,646 83,642
NET CURRENT ASSETS 8,515 12,818
TOTAL ASSETS LESS CURRENT
LIABILITIES

12,737

16,976

CREDITORS
Amounts falling due after more than one
year

7

(17,622

)

(27,431

)

ACCRUALS AND DEFERRED INCOME (4,560 ) (840 )
NET LIABILITIES (9,445 ) (11,295 )

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings (9,447 ) (11,297 )
(9,445 ) (11,295 )

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 September 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 September 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

Locilabs Limited (Registered number: 11922505)

Balance Sheet - continued
30 September 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 10 April 2024 and were signed on its behalf by:




A Bykowski - Director



C G R Stretton - Director


Locilabs Limited (Registered number: 11922505)

Notes to the Financial Statements
for the Year Ended 30 September 2023

1. STATUTORY INFORMATION

Locilabs Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern
The financial statements have been prepared on the going concern basis. The company has net liabilities
of £17,007 (2022: £11,295) and net current liabilties of £3,606 (2022 net current assets: £12,818). The directors of the company have confirmed their continuing support for the company and believe it will be able to meet its liabilities as they fall due.

Locilabs Limited (Registered number: 11922505)

Notes to the Financial Statements - continued
for the Year Ended 30 September 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2022 - 3 ) .

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 October 2022 6,814
Additions 1,907
At 30 September 2023 8,721
DEPRECIATION
At 1 October 2022 2,656
Charge for year 1,843
At 30 September 2023 4,499
NET BOOK VALUE
At 30 September 2023 4,222
At 30 September 2022 4,158

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 13,200 4,560
Other debtors 26,580 50,865
39,780 55,425

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 13,333 60,335
Trade creditors 16,313 1
Taxation and social security 9,052 12,107
Other creditors 10,948 11,199
49,646 83,642

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2023 2022
£    £   
Bank loans 17,622 27,431

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

A director of the company received advances of £9,433 during the year. Nothing was repaid and the balance outstanding at the end of the year was £15,034.
No interest was charged and the loan is repayable on demand.