2023-03-032024-03-312024-03-31false14703652GRANOLA LABS 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GRANOLA LABS LTD

Registered Number
14703652
(England and Wales)

Unaudited Financial Statements for the Period ended
31 March 2024

GRANOLA LABS LTD
Company Information
for the period from 3 March 2023 to 31 March 2024

Directors

PEDREGAL, Christopher Jonathan
STEPHENSON, Samuel James

Registered Address

Arquen House
4-6 Spicer Street
St. Albans
AL3 4PQ

Registered Number

14703652 (England and Wales)
GRANOLA LABS LTD
Balance Sheet as at
31 March 2024

Notes

2024

£

£

Fixed assets
Tangible assets31,259
1,259
Current assets
Debtors419,260
Cash at bank and on hand55,683
74,943
Creditors amounts falling due within one year5(2,442)
Net current assets (liabilities)72,501
Total assets less current liabilities73,760
Creditors amounts falling due after one year6(630,067)
Net assets(556,307)
Capital and reserves
Called up share capital1
Profit and loss account(556,308)
Shareholders' funds(556,307)
The financial statements were approved and authorised for issue by the Board of Directors on 12 November 2024, and are signed on its behalf by:
STEPHENSON, Samuel James
Director
Registered Company No. 14703652
GRANOLA LABS LTD
Notes to the Financial Statements
for the period ended 31 March 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
Going concern
The financial statements have been prepared on the going concern basis notwithstanding the fact that the company has a deficiency on shareholders' funds at the period end. The director considers the basis to be appropriate as the parent company, Granola Labs Inc, has sufficient reserves to support the company to trade for a minimum of 12 months from the period end.
Turnover policy
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 rendering of services.
Defined contribution pension plan
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to the income statement in the period to which they relate.
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.
Current taxation
Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or valuation less depreciation. Depreciation is provided on all tangible fixed assets as follows:

Straight line (years)
Office Equipment3
2.Average number of employees

2024
Average number of employees during the year2
3.Tangible fixed assets

Office Equipment

Total

££
Cost or valuation
Additions1,7901,790
At 31 March 241,7901,790
Depreciation and impairment
Charge for year531531
At 31 March 24531531
Net book value
At 31 March 241,2591,259
At 02 March 23--
4.Debtors: amounts due within one year

2024

£
Other debtors11,646
Prepayments and accrued income7,614
Total19,260
5.Creditors: amounts due within one year

2024

£
Trade creditors / trade payables446
Amounts owed to related parties500
Other creditors1,174
Accrued liabilities and deferred income322
Total2,442
6.Creditors: amounts due after one year

2024

£
Amounts owed to related parties630,067
Total630,067
Included in Creditors amounts falling due after one year is £630,067, owed to the ultimate controlling party, Granola Labs Inc, based in the United States of America.
7.Operating lease commitments
Minimum lease payments under non-cancellable operating leases total £25,920, due within one year.