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Company Registration No. 09038944 (England and Wales)
MEMORYLAB LIMITED FINANCIAL STATEMENTS for the year ended 31 May 2024
MEMORYLAB LIMITED FINANCIAL STATEMENTS Contents
Page
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MEMORYLAB LIMITED Company Information for the year ended 31 May 2024
Director
MR KAPIL BHARATKUMAR ROKAD
Company Number
09038944 (England and Wales)
Registered Office
115 MINEHEAD AVENUE SULLY PENARTH CF64 5TL
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MEMORYLAB LIMITED Statement of financial position as at 31 May 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
4,632 
6,176 
Current assets
Inventories
65,524 
91,493 
Cash at bank and in hand
804 
3,001 
66,328 
94,494 
Creditors: amounts falling due within one year
(61,757)
(78,406)
Net current assets
4,571 
16,088 
Total assets less current liabilities
9,203 
22,264 
Creditors: amounts falling due after more than one year
(8,230)
(21,769)
Net assets
973 
495 
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
972 
494 
Shareholders' funds
973 
495 
For the year ending 31 May 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 13 January 2025 and were signed on its behalf by
MR KAPIL BHARATKUMAR ROKAD Director Company Registration No. 09038944
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MEMORYLAB LIMITED Notes to the Accounts for the year ended 31 May 2024
1
Statutory information
MEMORYLAB LIMITED is a private company, limited by shares, registered in England and Wales, registration number 09038944. The registered office is 115 MINEHEAD AVENUE, SULLY, PENARTH, CF64 5TL.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Fixtures & fittings
Straight Line Basis
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
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MEMORYLAB LIMITED Notes to the Accounts for the year ended 31 May 2024
4
Tangible fixed assets
Fixtures & fittings 
£ 
Cost or valuation
At cost 
At 1 June 2023
11,519 
At 31 May 2024
11,519 
Depreciation
At 1 June 2023
5,343 
Charge for the year
1,544 
At 31 May 2024
6,887 
Net book value
At 31 May 2024
4,632 
At 31 May 2023
6,176 
5
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
6,720 
4,304 
Other creditors
55,037 
74,102 
61,757 
78,406 
6
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
- 
4,739 
Other creditors
8,230 
17,030 
8,230 
21,769 
7
Average number of employees
During the year the average number of employees was 2 (2023: 2).
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