IRIS Accounts Production v24.1.4.33 05311646 Board of Directors 1.4.23 31.3.24 31.3.24 false true false false true false iso4217:GBPiso4217:USDiso4217:EURxbrli:sharesxbrli:pureutr:tonnesutr:kWh053116462023-03-31053116462024-03-31053116462023-04-012024-03-31053116462022-03-31053116462022-04-012023-03-31053116462023-03-3105311646ns15:EnglandWales2023-04-012024-03-3105311646ns14:PoundSterling2023-04-012024-03-3105311646ns10:Director12023-04-012024-03-3105311646ns10:CompanyLimitedByGuarantee2023-04-012024-03-3105311646ns10:SmallEntities2023-04-012024-03-3105311646ns10:AuditExempt-NoAccountantsReport2023-04-012024-03-3105311646ns10:SmallCompaniesRegimeForDirectorsReport2023-04-012024-03-3105311646ns10:SmallCompaniesRegimeForAccounts2023-04-012024-03-3105311646ns10:FullAccounts2023-04-012024-03-3105311646ns10:Director22023-04-012024-03-3105311646ns10:Director32023-04-012024-03-3105311646ns10:Director42023-04-012024-03-3105311646ns10:Director52023-04-012024-03-3105311646ns10:Director62023-04-012024-03-3105311646ns10:Director72023-04-012024-03-3105311646ns10:Director82023-04-012024-03-3105311646ns10:Director92023-04-012024-03-3105311646ns10:CompanySecretary12023-04-012024-03-3105311646ns10:RegisteredOffice2023-04-012024-03-3105311646ns5:CurrentFinancialInstruments2024-03-3105311646ns5:CurrentFinancialInstruments2023-03-3105311646ns5:RetainedEarningsAccumulatedLosses2024-03-3105311646ns5:RetainedEarningsAccumulatedLosses2023-03-3105311646ns5:PlantMachinery2023-04-012024-03-3105311646ns5:FurnitureFittings2023-04-012024-03-3105311646ns5:ComputerEquipment2023-04-012024-03-3105311646ns5:PlantMachinery2023-03-3105311646ns5:PlantMachinery2024-03-3105311646ns5:PlantMachinery2023-03-3105311646ns5:CurrentFinancialInstrumentsns5:WithinOneYear2024-03-3105311646ns5:CurrentFinancialInstrumentsns5:WithinOneYear2023-03-3105311646ns5:WithinOneYear2024-03-3105311646ns5:WithinOneYear2023-03-3105311646ns5:BetweenOneFiveYears2024-03-3105311646ns5:BetweenOneFiveYears2023-03-3105311646ns5:AllPeriods2024-03-3105311646ns5:AllPeriods2023-03-31
REGISTERED NUMBER: 05311646 (England and Wales)














FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2024

FOR

LABXCELL LIMITED

LABXCELL LIMITED (REGISTERED NUMBER: 05311646)






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


LABXCELL LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 MARCH 2024







DIRECTORS: S Gable
C Hodgson
R Hughes
D Purvis
W Robertson
N Ryan
J K Woods
S Seaton
S Mulinda





SECRETARY: S Mulinda





REGISTERED OFFICE: UK NEQAS CPT
Haylofts, St Thomas Street
Haymarket
Newcastle upon Tyne
NE1 4LE





REGISTERED NUMBER: 05311646 (England and Wales)





ACCOUNTANTS: RMT Ribchesters
Accountants and Business Advisors
Finchale House
Belmont Business Park
Durham
DH1 1TW

LABXCELL LIMITED (REGISTERED NUMBER: 05311646)

BALANCE SHEET
31 MARCH 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 87,455 92,638

CURRENT ASSETS
Debtors 5 90,403 98,288
Cash at bank and in hand 682,402 600,050
772,805 698,338
CREDITORS
Amounts falling due within one year 6 138,657 201,095
NET CURRENT ASSETS 634,148 497,243
TOTAL ASSETS LESS CURRENT
LIABILITIES

721,603

589,881

PROVISIONS FOR LIABILITIES 21,864 23,159
NET ASSETS 699,739 566,722

RESERVES
Income and expenditure account 699,739 566,722
699,739 566,722

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 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 surplus or deficit 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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 31 July 2024 and were signed on its behalf by:



S Gable - Director


LABXCELL LIMITED (REGISTERED NUMBER: 05311646)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024

1. STATUTORY INFORMATION

Labxcell Limited is a private company, limited by guarantee , 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 - 10% on cost
Fixtures and fittings - 15% on cost
Computer equipment - 33% on cost and 15% on reducing balance

Financial instruments
The company has elected to apply the provisions of section 11 'Basic Financial Instruments' and Section 12 'Other Financial Instruments Issues' of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transaction costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, bank loans, other loans, and preference shares that are classified as debt, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Debt instruments are subsequently carried at amortised cost, using the effective interest rate method.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Amounts payable are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

LABXCELL LIMITED (REGISTERED NUMBER: 05311646)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 MARCH 2024

2. ACCOUNTING POLICIES - continued

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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 surplus or deficit 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 directors have considered the future cashflows of the company and the expected working capital available to the company for a period in excess of 12 months from the date of this report. They are satisfied that the company will generate sufficient resources to continue operations. The financial statements have therefore been prepared on the going concern basis.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2023 - 10 ) .

LABXCELL LIMITED (REGISTERED NUMBER: 05311646)

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 188,762
Additions 23,287
At 31 March 2024 212,049
DEPRECIATION
At 1 April 2023 96,124
Charge for year 28,470
At 31 March 2024 124,594
NET BOOK VALUE
At 31 March 2024 87,455
At 31 March 2023 92,638

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 34,838 39,649
Other debtors 55,565 58,639
90,403 98,288

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 33,263 35,346
Taxation and social security 59,608 82,656
Other creditors 45,786 83,093
138,657 201,095

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2024 2023
£    £   
Within one year 118,000 118,890
Between one and five years 82,080 -
200,080 118,890

8. LIMITED BY GUARANTEE

The company is limited by guarantee and has no share capital.

Every member of the company undertakes to contribute to the assets of the company, in the event of a winding up, such an amount as may be required not exceeding £1.