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Company Registration No. 09873446 (England and Wales)
Prospective Labs Ltd Unaudited accounts for the year ended 30 November 2023
Prospective Labs Ltd Unaudited accounts Contents
Page
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Prospective Labs Ltd Company Information for the year ended 30 November 2023
Directors
John Michael Batty CBE Peter Alexander Ferguson
Company Number
09873446 (England and Wales)
Registered Office
85 Tottenham Court Road London W1T 4TQ
Accountants
Braant Ltd 20 to 22 Wenlock Road London N1 7GU
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Prospective Labs Ltd Statement of financial position as at 30 November 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
6,480 
2,711 
Current assets
Debtors
2,700 
78,303 
Cash at bank and in hand
1,259,117 
505,421 
1,261,817 
583,724 
Creditors: amounts falling due within one year
(190,447)
(103,598)
Net current assets
1,071,370 
480,126 
Total assets less current liabilities
1,077,850 
482,837 
Creditors: amounts falling due after more than one year
(50,200)
(50,200)
Net assets
1,027,650 
432,637 
Capital and reserves
Called up share capital
2 
2 
Profit and loss account
1,027,648 
432,635 
Shareholders' funds
1,027,650 
432,637 
For the year ending 30 November 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 19 August 2024 and were signed on its behalf by
Peter Alexander Ferguson Director Company Registration No. 09873446
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Prospective Labs Ltd Notes to the Accounts for the year ended 30 November 2023
1
Statutory information
Prospective Labs Ltd is a private company, limited by shares, registered in England and Wales, registration number 09873446. The registered office is 85 Tottenham Court Road, London, W1T 4TQ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Over the life of the IUK contract
Work In Progress
Work in progress is valued at anticipated invoice value in accordance with the IUK contract
4
Tangible fixed assets
Computer equipment 
£ 
Cost or valuation
At cost 
At 1 December 2022
15,728 
Additions
5,064 
At 30 November 2023
20,792 
Depreciation
At 1 December 2022
13,017 
Charge for the year
1,295 
At 30 November 2023
14,312 
Net book value
At 30 November 2023
6,480 
At 30 November 2022
2,711 
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Prospective Labs Ltd Notes to the Accounts for the year ended 30 November 2023
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Accrued income and prepayments
2,700 
78,303 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
- 
17,234 
Taxes and social security
186,206 
50,970 
Other creditors
2,996 
35,394 
Accruals
1,245 
- 
190,447 
103,598 
7
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Other creditors
50,200 
50,200 
8
Average number of employees
During the year the average number of employees was 12 (2022: 10).
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