Teal Laboratory Service Limited 09429248 false 2023-04-01 2024-03-31 2024-03-31 The principal activity of the company is that of laboratory instrumentation servicing, calibrating and repairing Digita Accounts Production Advanced 6.30.9574.0 true 09429248 2023-04-01 2024-03-31 09429248 2024-03-31 09429248 core:CurrentFinancialInstruments 2024-03-31 09429248 core:CurrentFinancialInstruments core:WithinOneYear 2024-03-31 09429248 core:FurnitureFittingsToolsEquipment 2024-03-31 09429248 core:OtherPropertyPlantEquipment 2024-03-31 09429248 bus:SmallEntities 2023-04-01 2024-03-31 09429248 bus:AuditExemptWithAccountantsReport 2023-04-01 2024-03-31 09429248 bus:FilletedAccounts 2023-04-01 2024-03-31 09429248 bus:SmallCompaniesRegimeForAccounts 2023-04-01 2024-03-31 09429248 bus:RegisteredOffice 2023-04-01 2024-03-31 09429248 bus:Director1 2023-04-01 2024-03-31 09429248 bus:PrivateLimitedCompanyLtd 2023-04-01 2024-03-31 09429248 core:FurnitureFittingsToolsEquipment 2023-04-01 2024-03-31 09429248 core:OfficeEquipment 2023-04-01 2024-03-31 09429248 core:OtherPropertyPlantEquipment 2023-04-01 2024-03-31 09429248 core:PlantMachinery 2023-04-01 2024-03-31 09429248 countries:EnglandWales 2023-04-01 2024-03-31 09429248 2023-03-31 09429248 core:FurnitureFittingsToolsEquipment 2023-03-31 09429248 core:OtherPropertyPlantEquipment 2023-03-31 09429248 2022-04-01 2023-03-31 09429248 2023-03-31 09429248 core:CurrentFinancialInstruments 2023-03-31 09429248 core:CurrentFinancialInstruments core:WithinOneYear 2023-03-31 09429248 core:FurnitureFittingsToolsEquipment 2023-03-31 09429248 core:OtherPropertyPlantEquipment 2023-03-31 iso4217:GBP xbrli:pure

Registration number: 09429248

Teal Laboratory Service Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024

 

Teal Laboratory Service Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3 to 4

Notes to the Unaudited Financial Statements

5 to 8

 

Teal Laboratory Service Limited

Company Information

Director

Mr T E Lawrence

Registered office

Parkfields Byre
Offcote
Kniveton
Ashbourne
Derbyshire
DE6 1JQ

Accountants

Coates and Partners Limited
The Old Vicarage
51 St John Street
Ashbourne
Derbyshire
DE6 1GP

 

Teal Laboratory Service Limited

Director's Report for the Year Ended 31 March 2024

The director presents his report and the financial statements for the year ended 31 March 2024.

Director of the company

The director who held office during the year was as follows:

Mr T E Lawrence

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 10 September 2024
 

.........................................
Mr T E Lawrence
Director

 

Teal Laboratory Service Limited

(Registration number: 09429248)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

4

929

91

Current assets

 

Stocks

2,169

3,547

Debtors

5

19,320

20,068

Cash at bank and in hand

 

87,874

99,213

 

109,363

122,828

Creditors: Amounts falling due within one year

6

(22,559)

(23,520)

Net current assets

 

86,804

99,308

Net assets

 

87,733

99,399

Capital and reserves

 

Called up share capital

10

10

Retained earnings

87,723

99,389

Shareholders' funds

 

87,733

99,399

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

 

Teal Laboratory Service Limited

(Registration number: 09429248)
Balance Sheet as at 31 March 2024 (continued)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006 and FRS 102 ‘The Financial Reporting Standard Applicable in the UK and Republic of Ireland'.

Approved and authorised by the director on 10 September 2024
 

.........................................
Mr T E Lawrence
Director

   
     
 

Teal Laboratory Service Limited

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

1

General information

The company is a private company limited by share capital incorporated in England and Wales registration number: 09429248.

The address of its registered office is:
Parkfields Byre
Offcote
Kniveton
Ashbourne
Derbyshire
DE6 1JQ

These financial statements were authorised for issue by the director on 10 September 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The presentation currency is £ sterling.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

 

Teal Laboratory Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

2

Accounting policies (continued)

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

15% reducing balance

Furniture, fittings and equipment

33% straight line

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

 

Teal Laboratory Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 2 (2023 - 2).

4

Tangible assets

Furniture, fittings and equipment
 £

Plant and machinery
£

Total
£

Cost or valuation

At 1 April 2023

178

156

334

Additions

1,133

-

1,133

At 31 March 2024

1,311

156

1,467

Depreciation

At 1 April 2023

178

65

243

Charge for the year

281

14

295

At 31 March 2024

459

79

538

Carrying amount

At 31 March 2024

852

77

929

At 31 March 2023

-

91

91

 

Teal Laboratory Service Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024 (continued)

5

Debtors

Current

2024
£

2023
£

Trade debtors

16,402

18,175

Prepayments

2,918

1,893

 

19,320

20,068

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

1,600

1,730

Taxation and social security

11,053

12,345

Other creditors

9,906

9,445

22,559

23,520