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REGISTERED NUMBER: 06473418 (England and Wales)















Unaudited Financial Statements for the Year Ended 31 October 2024

for

Lab (UK) Limited

Lab (UK) Limited (Registered number: 06473418)






Contents of the Financial Statements
for the Year Ended 31 October 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 8

Lab (UK) Limited

Company Information
for the Year Ended 31 October 2024







DIRECTORS: Mrs S Mcleod
Mr J A Dennis





SECRETARY:





REGISTERED OFFICE: 34 Britannia Court
Burnt Mills Industrial Estate
Basildon
Essex
SS13 1EU





REGISTERED NUMBER: 06473418 (England and Wales)





ACCOUNTANTS: Elliot J Jenkins Associates Ltd
14 Butts Paddock
Canewdon
Essex
SS4 3QT

Lab (UK) Limited (Registered number: 06473418)

Balance Sheet
31 October 2024

31.10.24 31.10.23
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 153,362 224,989

CURRENT ASSETS
Stocks 5 12,381 3,722
Debtors 6 363,745 382,693
Cash at bank 632,814 620,940
1,008,940 1,007,355
CREDITORS
Amounts falling due within one year 7 188,250 208,154
NET CURRENT ASSETS 820,690 799,201
TOTAL ASSETS LESS CURRENT
LIABILITIES

974,052

1,024,190

CREDITORS
Amounts falling due after more than one year 8 (6,456 ) (44,130 )

PROVISIONS FOR LIABILITIES (28,663 ) (42,088 )
NET ASSETS 938,933 937,972

CAPITAL AND RESERVES
Called up share capital 667 667
Capital redemption reserve 333 333
Retained earnings 937,933 936,972
SHAREHOLDERS' FUNDS 938,933 937,972

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 31 October 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.

Lab (UK) Limited (Registered number: 06473418)

Balance Sheet - continued
31 October 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 31 December 2024 and were signed on its behalf by:





Mrs S Mcleod - Director


Lab (UK) Limited (Registered number: 06473418)

Notes to the Financial Statements
for the Year Ended 31 October 2024

1. STATUTORY INFORMATION

Lab (UK) Limited 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.

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Tangible fixed assets are depreciated under the straight line method at the following rates;

Leasehold 20%
Plant & Machinery 25%
Office Equipment 25%
Fixture & Fittings 25%
Motor Vehicles 25%
Computers 33%

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

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.

Lab (UK) Limited (Registered number: 06473418)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

2. ACCOUNTING POLICIES - continued

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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 13 (2023 - 13 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Short Plant and and
leasehold machinery fittings
£    £    £   
COST
At 1 November 2023 8,593 159,049 36,373
Additions - 933 887
Disposals - - -
At 31 October 2024 8,593 159,982 37,260
DEPRECIATION
At 1 November 2023 5,119 134,729 33,513
Charge for year 969 8,029 1,873
At 31 October 2024 6,088 142,758 35,386
NET BOOK VALUE
At 31 October 2024 2,505 17,224 1,874
At 31 October 2023 3,474 24,320 2,860

Lab (UK) Limited (Registered number: 06473418)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

4. TANGIBLE FIXED ASSETS - continued

Motor Computer
vehicles equipment Totals
£    £    £   
COST
At 1 November 2023 320,328 40,762 565,105
Additions - 1,756 3,576
Disposals (30,937 ) - (30,937 )
At 31 October 2024 289,391 42,518 537,744
DEPRECIATION
At 1 November 2023 138,786 27,969 340,116
Charge for year 23,312 10,083 44,266
At 31 October 2024 162,098 38,052 384,382
NET BOOK VALUE
At 31 October 2024 127,293 4,466 153,362
At 31 October 2023 181,542 12,793 224,989

5. STOCKS
31.10.24 31.10.23
£    £   
Stocks 12,381 3,722

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Trade debtors 211,042 204,434
Other debtors 125,000 150,000
Prepayments 27,703 28,259
363,745 382,693

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 34,451 72,947
Trade creditors 42,507 50,590
Tax 15,903 5,495
Social security and other taxes 61,990 53,848
Other creditors 3,901 13,160
Accruals and deferred income 29,498 12,114
188,250 208,154

Lab (UK) Limited (Registered number: 06473418)

Notes to the Financial Statements - continued
for the Year Ended 31 October 2024

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.10.24 31.10.23
£    £   
Hire purchase contracts 6,456 44,130

9. PENSION COMMITMENTS

The company operates a defined contribution scheme in respect of certain directors and employees. The scheme and its assets are held by independent managers. The pension charge represents contributions due from the company and amounted to £10566 (2023 - £10159). Contributions totalling £2320 (2023 - £4010) were payable to the fund at the balance sheet date and included in creditors.

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Mrs S Mcleod.

Chartered Certified Accountants' Report to the Board of Directors
on the Unaudited Financial Statements of
Lab (UK) Limited (Registered number: 06473418)

The following reproduces the text of the report prepared for the directors in respect of the Company's annual unaudited financial statements. In accordance with the Companies Act 2006, the Company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lab (UK) Limited for the year ended 31 October 2024 which comprise the Income Statement, Balance Sheet and the related notes 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 http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Lab (UK) Limited, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lab (UK) Limited and state those matters that we have agreed to state to the Board of Directors of Lab (UK) 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/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lab (UK) Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Lab (UK) Limited. You consider that Lab (UK) 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 financial statements of Lab (UK) 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 financial statements.






Elliot J Jenkins Associates Ltd
14 Butts Paddock
Canewdon
Essex
SS4 3QT


31 December 2024