Registered number
05384846
Confident Laboratories Limited
Filleted Accounts
31 March 2024
Confident Laboratories Limited
Registered number: 05384846
Balance Sheet
as at 31 March 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 16,643 8,973
Current assets
Stocks 10,199 11,194
Debtors 4 50,618 62,760
Cash at bank and in hand 12 333
60,829 74,287
Creditors: amounts falling due within one year 5 (55,273) (58,047)
Net current assets 5,556 16,240
Total assets less current liabilities 22,199 25,213
Creditors: amounts falling due after more than one year 6 (17,689) (22,435)
Provisions for liabilities (3,162) (1,704)
Net assets 1,348 1,074
Capital and reserves
Called up share capital 1,000 1,000
Profit and loss account 348 74
Shareholders' funds 1,348 1,074
The director is 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 director acknowledges his 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.
Mrs P Whitehead
Director
Approved by the board on 16 October 2024
Confident Laboratories Limited
Notes to the Accounts
for the year ended 31 March 2024
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.
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:
Plant and machinery over 5 years
Fixtures, fittings, tools and equipment over 4-5 years
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 8 8
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 April 2023 122,144
Additions 14,491
At 31 March 2024 136,635
Depreciation
At 1 April 2023 113,171
Charge for the year 6,821
At 31 March 2024 119,992
Net book value
At 31 March 2024 16,643
At 31 March 2023 8,973
4 Debtors 2024 2023
£ £
Trade debtors 45,319 50,485
Other debtors 5,299 12,275
50,618 62,760
Amounts due after more than one year included above 340 -
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,884 10,172
Trade creditors 19,258 28,179
Taxation and social security costs 22,217 15,518
Other creditors 3,914 4,178
55,273 58,047
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 17,689 22,435
7 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
Mr A Thom
Interest free loan 6,138 - (5,635) 503
Mrs P Whitehead
Interest free loan 6,137 - (5,634) 503
12,275 - (11,269) 1,006
8 Other information
Confident Laboratories Limited is a private company limited by shares and incorporated in England. Its registered office is:
Broomfield
6 Broomfield Close
Heswall
Wirral
CH60 9HD
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