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REGISTERED NUMBER: 07472182 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 March 2024

for

On-Setlab Limited

On-Setlab Limited (Registered number: 07472182)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


On-Setlab Limited

Company Information
for the Year Ended 31 March 2024







DIRECTOR: V Martins





SECRETARY:





REGISTERED OFFICE: First Floor, 10 Church Square
Leighton Buzzard
Bedfordshire
LU7 1AE





REGISTERED NUMBER: 07472182 (England and Wales)





ACCOUNTANTS: Fouracre Accountancy Services Ltd
10 Church Square
Leighton Buzzard
Bedfordshire
LU7 1AE

On-Setlab Limited (Registered number: 07472182)

Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 35,365 44,206

CURRENT ASSETS
Debtors 5 14,724 15,146
Cash in hand 19,012 31,600
33,736 46,746
CREDITORS
Amounts falling due within one year 6 14,238 11,701
NET CURRENT ASSETS 19,498 35,045
TOTAL ASSETS LESS CURRENT
LIABILITIES

54,863

79,251

CAPITAL AND RESERVES
Called up share capital 2 2
Retained earnings 54,861 79,249
SHAREHOLDERS' FUNDS 54,863 79,251

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2024 in accordance with Section 476 of the Companies Act 2006.

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.

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 director and authorised for issue on 25 July 2024 and were signed by:



V Martins - Director


On-Setlab Limited (Registered number: 07472182)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

On-Setlab 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.
Plant and machinery - 25% on reducing balance

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.

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.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2023 - 2 ) .

On-Setlab Limited (Registered number: 07472182)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 April 2023
and 31 March 2024 177,960
DEPRECIATION
At 1 April 2023 133,754
Charge for year 8,841
At 31 March 2024 142,595
NET BOOK VALUE
At 31 March 2024 35,365
At 31 March 2023 44,206

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Trade debtors 10,094 10,837
Other debtors 4,630 4,309
14,724 15,146

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.3.24 31.3.23
£    £   
Taxation and social security 2,759 6,206
Other creditors 11,479 5,495
14,238 11,701