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Registration number: 07927587

Form Lab Ltd

Annual Report and Unaudited Financial Statements

for the Period from 1 February 2023 to 30 January 2024

 

Form Lab Ltd

Contents

Balance Sheet

1 to 2

Notes to the Unaudited Financial Statements

3 to 8

 

Form Lab Ltd

(Registration number: 07927587)
Balance Sheet as at 30 January 2024

Note

2024
£

2023
£

Fixed assets

 

Tangible assets

5

-

18,057

Current assets

 

Debtors

6

19,014

1,689

Cash at bank and in hand

 

63

395

 

19,077

2,084

Creditors: Amounts falling due within one year

7

(12,338)

(17,906)

Net current assets/(liabilities)

 

6,739

(15,822)

Total assets less current liabilities

 

6,739

2,235

Creditors: Amounts falling due after more than one year

7

(15,806)

(15,806)

Provisions for liabilities

-

(3,431)

Net liabilities

 

(9,067)

(17,002)

Capital and reserves

 

Called up share capital

8

200

200

Retained earnings

(9,267)

(17,202)

Shareholders' deficit

 

(9,067)

(17,002)

For the financial period ending 30 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the period in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 29 January 2025
 

 

Form Lab Ltd

(Registration number: 07927587)
Balance Sheet as at 30 January 2024

.........................................
Mr D Jones
Director

 

Form Lab Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

1

General information

The company is a private company limited by share capital, incorporated in United Kingdom.

The address of its registered office is:
Parkhill Studio
Walton Road
Wetherby
West Yorkshire
LS22 5DZ
England

These financial statements were authorised for issue by the director on 29 January 2025.

2

Accounting policies

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the Company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts and after eliminating sales within the company.

Tax

The tax expense for the period comprises deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

 

Form Lab Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class

Depreciation method and rate

Plant and machinery

33% straight line

Office equipment

33% straight line

Motor vehicle

20% straight line

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the period, was 1 (2023 - 1).

4

Profit/loss before tax

Arrived at after charging/(crediting)

2024
£

2023
£

Depreciation expense

70

10,958

 

Form Lab Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Other tangible assets
£

Total
£

Cost or valuation

At 1 February 2023

10,855

54,440

1,591

66,886

Disposals

-

(54,440)

-

(54,440)

At 30 January 2024

10,855

-

1,591

12,446

Depreciation

At 1 February 2023

10,786

36,452

1,591

48,829

Charge for the period

69

-

-

69

Eliminated on disposal

-

(36,452)

-

(36,452)

At 30 January 2024

10,855

-

1,591

12,446

Carrying amount

At 30 January 2024

-

-

-

-

At 31 January 2023

69

17,988

-

18,057

6

Debtors

Current

2024
£

2023
£

Prepayments

149

137

Other debtors

18,865

1,552

 

19,014

1,689

 

Form Lab Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

7

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Loans and borrowings

10,926

13,554

Trade creditors

 

-

143

Taxation and social security

 

412

2,509

Accruals and deferred income

 

1,000

1,700

 

12,338

17,906

 

Form Lab Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

Creditors: amounts falling due after more than one year

Note

2024
£

2023
£

Due after one year

 

Loans and borrowings

15,806

15,806

 

Form Lab Ltd

Notes to the Unaudited Financial Statements for the Period from 1 February 2023 to 30 January 2024

8

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

A Ordinary shares of £1 each

80

80

80

80

B Ordinary shares of £1 each

20

20

20

20

200

200

200

200