Registered number
13076360
Labels World Limited
Filleted Accounts
31 December 2023
Labels World Limited
Registered number: 13076360
Balance Sheet
as at 31 December 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 12,852 14,689
Current assets
Cash at bank and in hand 415 699
Creditors: amounts falling due within one year 4 (23,569) (22,391)
Net current liabilities (23,154) (21,692)
Net liabilities (10,302) (7,003)
Capital and reserves
Called up share capital 1 1
Profit and loss account (10,303) (7,004)
Shareholders' funds (10,302) (7,003)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ansar Ali
Director
Approved by the board on 22 September 2024
Labels World Limited
Notes to the Accounts
for the year ended 31 December 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Freehold buildings over 50 years
Leasehold land and buildings over the lease term
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment 10% Straight Line
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 0
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 January 2023 18,361
At 31 December 2023 18,361
Depreciation
At 1 January 2023 3,672
Charge for the year 1,837
At 31 December 2023 5,509
Net book value
At 31 December 2023 12,852
At 31 December 2022 14,689
4 Creditors: amounts falling due within one year 2023 2022
£ £
Trade creditors 22 840
Taxation and social security costs (42) 61
Other creditors 23,589 21,490
23,569 22,391
5 Other information
Labels World Limited is a private company limited by shares and incorporated in England. Its registered office is:
31 Victoria Road
Handsworth
Birmingham
B21 0SB
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