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REGISTERED NUMBER: 13894984 (England and Wales)




UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

4C LABS LTD

4C LABS LTD (REGISTERED NUMBER: 13894984)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024










Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


4C LABS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: Mr G P Dobbin
Mr M D Farquharson





REGISTERED OFFICE: Hill Dickinson Llp, 8th Floor
The Broadgate Tower
20 Primrose Street
London
EC2A 2EW





REGISTERED NUMBER: 13894984 (England and Wales)





ACCOUNTANTS: Brookes Stephens
New Media House
Davidson Road
Lichfield
Staffordshire
WS14 9DZ

4C LABS LTD (REGISTERED NUMBER: 13894984)

BALANCE SHEET
29 FEBRUARY 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Tangible assets 4 975 -

Current assets
Stocks 136,675 -
Debtors 5 491,445 1
Cash at bank 131,785 -
759,905 1
Creditors
Amounts falling due within one year 6 925,596 -
Net current (liabilities)/assets (165,691 ) 1
Total assets less current liabilities (164,716 ) 1

Capital and reserves
Called up share capital 7 1 1
Retained earnings (164,717 ) -
Shareholders' funds (164,716 ) 1

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

4C LABS LTD (REGISTERED NUMBER: 13894984)

BALANCE SHEET - continued
29 FEBRUARY 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28 November 2024 and were signed on its behalf by:




Mr G P Dobbin - Director



Mr M D Farquharson - Director


4C LABS LTD (REGISTERED NUMBER: 13894984)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024


1. STATUTORY INFORMATION

4c Labs Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).


2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The current period of account is not comparible to the prior period. The length of the prior period was one year and 24 days as it was the first accounting period of the company. The current period of account is one year.

Going concern

The directors have reviewed the credit facilities available to the company over the forthcoming 12 months and assessed that they are sufficient to allow the company to continue to trade and meet its financial obligations as they fall due.

This presumption relies on the continued support of the parent company, 4C Labs Ltd, a company registered in Canada and its shareholders.

Having taken this into account the directors have prepared the accounts on a going concern basis.

Related party exemption
The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Turnover
Turnover represents net invoiced goods and services, excluding value added tax.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on cost

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.


4C LABS LTD (REGISTERED NUMBER: 13894984)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


2. ACCOUNTING POLICIES - continued
Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

4. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
Additions 1,300
At 29 February 2024 1,300
DEPRECIATION
Charge for year 325
At 29 February 2024 325
NET BOOK VALUE
At 29 February 2024 975

4C LABS LTD (REGISTERED NUMBER: 13894984)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade debtors 456,208 -
Amounts owed by group undertakings 6,482 -
Other debtors 28,755 1
491,445 1

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Trade creditors 28,799 -
Amounts owed to group undertakings 512,613 -
Taxation and social security 66,719 -
Other creditors 317,465 -
925,596 -

7. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
1 Ordinary £1 1 1

8. ULTIMATE CONTROLLING PARTY

4C Labs Ltd is a subsidiary of 4C Labs Ltd, a company registered in Canada and whose registered office address is 365 Bay Street, Suite 800, Toronto, M5H 2V1, Canada.