Silverfin false false 31/05/2024 01/06/2023 31/05/2024 A Bernie 13/03/2015 C I Kahn 25/03/2015 A T Maleedy 13/03/2015 21 January 2025 The principal activity of the company continued to be that of the development and sale of shower gel. 09058306 2024-05-31 09058306 bus:Director1 2024-05-31 09058306 bus:Director2 2024-05-31 09058306 bus:Director3 2024-05-31 09058306 2023-05-31 09058306 core:CurrentFinancialInstruments 2024-05-31 09058306 core:CurrentFinancialInstruments 2023-05-31 09058306 core:ShareCapital 2024-05-31 09058306 core:ShareCapital 2023-05-31 09058306 core:SharePremium 2024-05-31 09058306 core:SharePremium 2023-05-31 09058306 core:RetainedEarningsAccumulatedLosses 2024-05-31 09058306 core:RetainedEarningsAccumulatedLosses 2023-05-31 09058306 core:ComputerSoftware 2023-05-31 09058306 core:PatentsTrademarksLicencesConcessionsSimilar 2023-05-31 09058306 core:ComputerSoftware 2024-05-31 09058306 core:PatentsTrademarksLicencesConcessionsSimilar 2024-05-31 09058306 2023-06-01 2024-05-31 09058306 bus:FilletedAccounts 2023-06-01 2024-05-31 09058306 bus:SmallEntities 2023-06-01 2024-05-31 09058306 bus:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 09058306 bus:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 09058306 bus:Director1 2023-06-01 2024-05-31 09058306 bus:Director2 2023-06-01 2024-05-31 09058306 bus:Director3 2023-06-01 2024-05-31 09058306 core:ComputerSoftware core:TopRangeValue 2023-06-01 2024-05-31 09058306 core:PatentsTrademarksLicencesConcessionsSimilar core:TopRangeValue 2023-06-01 2024-05-31 09058306 2022-06-01 2023-05-31 09058306 core:ComputerSoftware 2023-06-01 2024-05-31 09058306 core:PatentsTrademarksLicencesConcessionsSimilar 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure

Company No: 09058306 (England and Wales)

BUBBLE LABORATORIES LIMITED

Unaudited Financial Statements
For the financial year ended 31 May 2024
Pages for filing with the registrar

BUBBLE LABORATORIES LIMITED

Unaudited Financial Statements

For the financial year ended 31 May 2024

Contents

BUBBLE LABORATORIES LIMITED

STATEMENT OF FINANCIAL POSITION

As at 31 May 2024
BUBBLE LABORATORIES LIMITED

STATEMENT OF FINANCIAL POSITION (continued)

As at 31 May 2024
Note 2024 2023
£ £
Fixed assets
Intangible assets 3 640 960
640 960
Current assets
Debtors 4 1,121 1,861
Cash at bank and in hand 306 389
1,427 2,250
Creditors: amounts falling due within one year 5 ( 254,807) ( 246,761)
Net current liabilities (253,380) (244,511)
Total assets less current liabilities (252,740) (243,551)
Net liabilities ( 252,740) ( 243,551)
Capital and reserves
Called-up share capital 200 200
Share premium account 99,940 99,940
Profit and loss account ( 352,880 ) ( 343,691 )
Total shareholders' deficit ( 252,740) ( 243,551)

For the financial 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.

Directors' responsibilities:

These financial statements have been prepared in accordance with the provisions of FRS 102 Section 1A – small entities. The financial statements of Bubble Laboratories Limited (registered number: 09058306) were approved and authorised for issue by the Board of Directors. They were signed on its behalf by:

C I Kahn
Director

21 January 2025

BUBBLE LABORATORIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
BUBBLE LABORATORIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

For the financial year ended 31 May 2024
1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

Bubble Laboratories Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the company's registered office is 8 Turner Drive, London, NW11 6TX, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.

Going concern

The directors have assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The directors have a reasonable expectation that the company has adequate resources to continue in operational existence and to meet its financial obligations as they fall due for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Intangible assets

Intangible assets are stated at cost or valuation, net of amortisation and any provision for impairment. Amortisation is provided on all intangible assets at rates to write off the cost or valuation of each asset over its expected useful life as follows:

Computer software 5 years straight line
Trademarks, patents and licences 10 years straight line
Impairment of assets

Assets, other than those measured at fair value, are assessed for indicators of impairment at each Statement of Financial Position date. If there is objective evidence of impairment, an impairment loss is recognised in the Profit and Loss Account as described below.

Financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

For financial assets carried at amortised cost, the amount of impairment is the difference between the asset’s carrying amount and the present value of estimated future cash flows, discounted at the financial asset’s original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset’s carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in creditors: amounts falling due within one year.

Financial instruments

The Company only enters into basic financial instruments and transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to and from related parties and investments in non-puttable ordinary shares.

Financial assets
Basic financial assets, including trade and other debtors, and amounts due from related companies, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in the Statement of Income and Retained Earnings.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions.

Financial liabilities
Basic financial liabilities, including trade and other creditors and accruals, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest.

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Trade creditors are classified as current liabilities if payment is due within one year or less. If not, they are presented as non-current liabilities. Trade creditors are recognised initially at transaction price and subsequently measured at amortised cost using the effective interest method.

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires.

Financial assets and liabilities are offset and the net amounts presented in the financial statements when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

2. Employees

2024 2023
Number Number
Monthly average number of persons employed by the company during the year, including directors 3 3

3. Intangible assets

Computer software Trademarks, patents
and licences
Total
£ £ £
Cost
At 01 June 2023 12,179 7,400 19,579
At 31 May 2024 12,179 7,400 19,579
Accumulated amortisation
At 01 June 2023 12,179 6,440 18,619
Charge for the financial year 0 320 320
At 31 May 2024 12,179 6,760 18,939
Net book value
At 31 May 2024 0 640 640
At 31 May 2023 0 960 960

4. Debtors

2024 2023
£ £
VAT recoverable 1,121 1,861

5. Creditors: amounts falling due within one year

2024 2023
£ £
Amounts owed to directors 252,306 245,259
Accruals 2,501 1,502
254,807 246,761