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Registered number: 13715890









NEULABS LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NEULABS LIMITED
REGISTERED NUMBER: 13715890

BALANCE SHEET
AS AT 31 DECEMBER 2023

2023
2022
£
£


Fixed assets
7,046,373
4,566,845

Debtors: amounts falling due after more than one year
441,199
-

Current assets
63,849
1,739,133

Creditors: amounts falling due within one year
(4,186)
(11,944)

Net current assets
 
 
59,663
 
 
1,727,189

Total assets less current liabilities
7,547,235
6,294,034

Creditors: amounts falling due after more than one year
(740,785)
-


Net assets
6,806,450
6,294,034



Capital and reserves
6,806,450
6,294,034


Notes


General information

Neulabs Limited is a company limited by shares, incorporated in England and Wales.
During the financial year 2023, Neulabs, directly and through its subsidiaries, implemented a significant path of growth and geographical expansion, through new acquisitions and distribution of its brands outside the national territory. This resulted in a strong growth in size, physiologically accompanied by an increase in operating costs, also due to external causes connected to the macroeconomic context, in the warehouse stock, necessary to effectively process customer orders, and in the financial charges, caused by the increasing trend in interest rates recorded in the recent period. The path of dimensional growth, which also envisages a greater presence at a European level, has exposed the Italian subsidiary of the Company,  named Neulabs SRL, (the "Subsidiary") to financial tensions, making it necessary to reach an agreement with financial creditors for a moratorium period functional to allow its own brands to develop adequate cash flows for the regular fulfilment of the obligations contracted and to satisfy all its stakeholders. Therefore, reaching a moratorium agreement with financial creditors will reasonably allow the Subsidiary to continue on its development path, ensuring business continuity.


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NEULABS LIMITED
REGISTERED NUMBER: 13715890
    
BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2023

Average number of employees

The average monthly number of employees, including directors, during the year was 2 (2022 - 2).

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared in accordance with the provisions applicable to entities subject to the micro-entities' regime.

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

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




................................................
E Solidoro
Director

Date: 21 August 2024

 
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