Company registration number:
Lab UK (Furniture) Limited
for the Year Ended 30 April 2024
Lab UK (Furniture) Limited
Contents
Company Information |
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Accountants' Report |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Lab UK (Furniture) Limited
Company Information
Directors |
Mr A S Hardman Mr M J Hardman Ms Z L Hardman |
Registered office |
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Accountants |
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Chartered Certified Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Lab UK (Furniture) Limited
for the Year Ended 30 April 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Lab UK (Furniture) Limited for the year ended 30 April 2024 as set out on pages 3 to 8 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at https://www.accaglobal.com/gb/en/member/standards/rules-and-standards/rulebook.html.
This report is made solely to the Board of Directors of Lab UK (Furniture) Limited, as a body, in accordance with the terms of our engagement letter dated 11 June 2020. Our work has been undertaken solely to prepare for your approval the accounts of Lab UK (Furniture) Limited and state those matters that we have agreed to state to the Board of Directors of Lab UK (Furniture) Limited, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/gb/en/technical-activities/technical-resources-search/2009/
october/factsheet-163-audit-exempt-companies.html. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Lab UK (Furniture) Limited and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Lab UK (Furniture) Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Lab UK (Furniture) Limited. You consider that Lab UK (Furniture) Limited is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Lab UK (Furniture) Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
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Chartered Certified Accountants
St. Helens
Merseyside
WA9 1UA
Lab UK (Furniture) Limited
(Registration number: 03775943)
Balance Sheet as at 30 April 2024
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2024 |
2023 |
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Fixed assets |
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Tangible assets |
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Current assets |
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Stocks |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
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Net current assets |
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Total assets less current liabilities |
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Creditors: Amounts falling due after more than one year |
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Provisions for liabilities |
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Net assets |
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Capital and reserves |
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Called up share capital |
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Capital redemption reserve |
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Retained earnings |
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Shareholders' funds |
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For the financial year ending 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
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.
These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.
Approved and authorised by the
Lab UK (Furniture) Limited
(Registration number: 03775943)
Balance Sheet as at 30 April 2024
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Lab UK (Furniture) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
General information |
The company is a private company limited by share capital, incorporated in England and Wales.
The address of its registered office and principal place of business is:
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 financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Revenue comprises the fair value of the sale of goods and services net of value added tax, rebates and discounts. Sales of goods are recognised when the company has delivered the goods to the customer.
Tax
Deferred tax is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax has not been discounted.
Tangible assets
All fixed assets are initially recorded at cost.
Lab UK (Furniture) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Depreciation
Depreciation is charged so as to write off the cost of assets, less its residual value, over the useful economic life of that asset as follows:
Asset class |
Depreciation method and rate |
Plant and machinery |
20% reducing balance |
Motor vehicles |
25% reducing balance |
Office equipment |
25% reducing balance |
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Hire purchase agreements
Assets held under hire purchase agreements are capitalised and disclosed under tangible fixed assets at their fair value. The capital element of the future payments is treated as a liabilitiy and the interest is charged to the profit and loss account on a straight line basis.
Defined contribution pension obligation
The company operates a defined contribution pension scheme for employees. The assets of the scheme are held separately from those of the company. The annual contributions payable are charged to the profit and loss account.
Lab UK (Furniture) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Staff numbers |
The average number of persons employed by the company (including directors) during the year, was
Tangible assets |
Plant and machinery |
Office equipment |
Motor vehicles |
Total |
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Cost or valuation |
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At 1 May 2023 |
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Additions |
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At 30 April 2024 |
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Depreciation |
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At 1 May 2023 |
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Charge for the year |
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At 30 April 2024 |
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Carrying amount |
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At 30 April 2024 |
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At 30 April 2023 |
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Debtors |
Note |
2024 |
2023 |
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Trade debtors |
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Amounts owed by group undertakings |
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Other debtors |
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Lab UK (Furniture) Limited
Notes to the Unaudited Financial Statements for the Year Ended 30 April 2024
Creditors |
Creditors: amounts falling due within one year
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2024 |
2023 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Corporation tax |
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Other creditors |
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Creditors: amounts falling due after more than one year
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2023 |
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Due after one year |
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Loans and borrowings |
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Financial commitments, guarantees and contingencies |
Amounts not provided for in the balance sheet
The total amount of financial commitments not included in the balance sheet is £
Related party transactions |
Summary of transactions with parent
Parent and ultimate parent undertaking |
The company's immediate parent is