Company registration number:
09790872
LzLabs Ltd
Trading as
LzLabs Limited
Unaudited filleted financial statements
31 December 2023
LzLabs Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
LzLabs Ltd
Directors and other information
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Directors |
Mr Thilo Rockmann |
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Mr Duncan Love |
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Secretary |
J P Brothers |
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Company number |
09790872 |
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Registered office |
Enterprise House |
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Ocean Way |
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Southampton |
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Hampshire |
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SO14 3XB |
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Accountants |
Switch Accounting Ltd |
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Enterprise House |
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Canute Way |
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Southampton |
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Hampshire |
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SO14 3XB |
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LzLabs Ltd
Statement of financial position
31 December 2023
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2023 |
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2022 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Debtors |
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5 |
106,260 |
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106,260 |
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Cash at bank and in hand |
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41,966 |
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53,873 |
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_______ |
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_______ |
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148,226 |
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160,133 |
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Creditors: amounts falling due |
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within one year |
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6 |
- |
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(
6,706) |
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_______ |
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_______ |
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Net current assets |
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148,226 |
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153,427 |
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_______ |
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Total assets less current liabilities |
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148,226 |
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153,427 |
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_______ |
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Net assets |
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148,226 |
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153,427 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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200,100 |
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200,100 |
Profit and loss account |
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(
51,874) |
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46,673) |
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_______ |
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Shareholders funds |
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148,226 |
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153,427 |
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_______ |
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For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
23 August 2024
, and are signed on behalf of the board by:
Mr Thilo Rockmann
Director
Company registration number:
09790872
LzLabs Ltd
Statement of changes in equity
Year ended 31 December 2023
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Called up share capital |
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Profit and loss account |
Total |
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£ |
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£ |
£ |
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At 1 January 2022 |
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200,100 |
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75,261) |
124,839 |
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(Loss)/profit for the year |
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28,588 |
28,588 |
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Total comprehensive income for the year |
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28,588 |
28,588 |
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At 31 December 2022 and 1 January 2023 |
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200,100 |
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46,673) |
153,427 |
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(Loss)/profit for the year |
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(
5,201) |
(
5,201) |
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Total comprehensive income for the year |
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- |
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(
5,201) |
(
5,201) |
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_______ |
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At 31 December 2023 |
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200,100 |
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51,874) |
148,226 |
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_______ |
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LzLabs Ltd
Notes to the financial statements
Year ended 31 December 2023
1.
General information
The company is a private company limited by shares, registered in England & Wales. The address of the registered office is C/O Switch Accounting, Enterprise House, Ocean Way, Southampton, Hampshire, SO14 3XB.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Taxation
Tax is recognised in the Statement of Income and Retained Earnings, except that a chargeattributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.The current income tax charge is calculated on the basis of tax rates and laws that have beenenacted or substantively enacted by the balance sheet date in the countries where the companyoperates and generates income.Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the Balance Sheet date, except that:- The recognition of deferred tax assets is limited to the extent that it is probable that they willbe recovered against the reversal of deferred tax liabilities or other future taxable profits; and- Any deferred tax balances are reversed if and when all conditions for retaining associated taxallowances have been met.Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair valuesof assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.
Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties and loans to related parties.Financial assets that are measured at cost and amortised cost are assessed at the end of eachreporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2022: Nil).
5.
Debtors
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2023 |
2022 |
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£ |
£ |
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Amounts owed by group undertakings and undertakings in which the company has a participating interest |
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106,260 |
106,260 |
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6.
Creditors: amounts falling due within one year
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2023 |
2022 |
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£ |
£ |
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Corporation tax |
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6,706 |
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7.
Related party transactions
During the year the company entered into the following transactions with related parties:
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Transaction value |
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Balance owed by/(owed to) |
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2023 |
2022 |
2023 |
2022 |
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£ |
£ |
£ |
£ |
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LzLabs GmbH |
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106,260 |
106,260 |
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Winsopia Ltd |
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JMI Services LLC |
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At the year-end £106,260 (unchanged from prior year) was owed by these related companies.These companies are related by virtue of being under common control.No dividends were paid during the year by the company (2022 - £nil) to its parent company,LzLabs GmbH.Only the directors are considered to be key management personnel. No remuneration was paid to them during 2023 (2022 - £nil).
8.
Controlling party
The company is a subsidiary of LzLabs GmbH which is the intermediate parent company, incorporated in Switzerland. The ultimate parent company is
JMI Service LLC
, a company incorporated in the United States of America. No other accounts ínclude the results of the company at 3l December 2023.