REGISTERED NUMBER: |
A-LAB SOLUTIONS LIMITED |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
REGISTERED NUMBER: |
A-LAB SOLUTIONS LIMITED |
Unaudited Financial Statements |
for the Year Ended 30 September 2024 |
A-LAB SOLUTIONS LIMITED (REGISTERED NUMBER: 10355088) |
Contents of the Financial Statements |
for the Year Ended 30 September 2024 |
Page |
Balance Sheet | 1 |
A-LAB SOLUTIONS LIMITED (REGISTERED NUMBER: 10355088) |
Balance Sheet |
30 September 2024 |
30/9/24 | 30/9/23 |
£ | £ | £ | £ |
Called up share capital not paid |
Fixed assets |
Current assets |
Creditors |
Amounts falling due within one year | ( |
) | ( |
) |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
Net (liabilities)/assets | ( |
) |
Capital and reserves | ( |
) |
Notes to the financial statements |
1. | Statutory information |
A-Lab Solutions Limited is a |
Registered number: |
Registered office: |
2. | Going concern |
The directors will continue to adopt the going concern basis in preparing the financial statements which assumes that the company will continue in operation for the foreseeable future. |
3. | Average number of employees |
The average number of employees during the year was |
4. | Directors' advances, credits and guarantees |
During the year, the Company issued convertible loan notes ("CLNs") to the Co-Founders totalling 120,000 (CLN1 of £50,000 and CLN2 of £70,000, 2023: £0). The loan notes carry an interest rate of 4% per annum, (payable only if and when the loans are repaid) and mature on 14 May 2027 respectively 27 August 2027. The holders of the loan notes have the option to convert the outstanding principal and accrued interest into ordinary shares at a conversion price of £5 per share. |
The loan notes are unsecured and are repayable in cash or convertible into equity, at the maturity date, or automatically upon the receipt by the Company of the full subscription amount due to it in connection with a Financing Round or the completion of a Sale or IPO. Accrued interest will only become payable if and when the Loans are repaid in accordance with this Agreement. |
The loans will be sub-ordinated to all other liabilities of the Company. |
A-LAB SOLUTIONS LIMITED (REGISTERED NUMBER: 10355088) |
Balance Sheet - continued |
30 September 2024 |
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. |
The financial statements were approved by the Board of Directors and authorised for issue on |