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VALIDATION LABS LTD

Registered Number
14082916
(England and Wales)

Unaudited Financial Statements for the Year ended
31 May 2024

VALIDATION LABS LTD
Company Information
for the year from 1 June 2023 to 31 May 2024

Directors

HARBORNE, William Marcus Sherriff
ROSE, Anna Rae

Registered Address

49 Greek Street
London
W1D 4EG

Registered Number

14082916 (England and Wales)
VALIDATION LABS LTD
Balance Sheet as at
31 May 2024

Notes

2024

2023

£

£

£

£

Fixed assets
Intangible assets32,675,17895,552
2,675,17895,552
Current assets
Debtors21,515100
Current asset investments23,817-
Cash at bank and on hand234,8846,407
280,2166,507
Creditors amounts falling due within one year4(1,830,817)(63,087)
Net current assets (liabilities)(1,550,601)(56,580)
Total assets less current liabilities1,124,57738,972
Net assets1,124,57738,972
Capital and reserves
Called up share capital100100
Profit and loss account1,124,47738,872
Shareholders' funds1,124,57738,972
The financial statements were approved and authorised for issue by the Board of Directors on 31 January 2025, and are signed on its behalf by:
HARBORNE, William Marcus Sherriff
Director
ROSE, Anna Rae
Director

Registered Company No. 14082916
VALIDATION LABS LTD
Notes to the Financial Statements
for the year ended 31 May 2024

1.Accounting policies
Statutory information
The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.
Statement of compliance
The financial statements have been prepared in compliance with FRS 102 Section 1A as it applies to the financial statements for the period and there were no material departures from the reporting standard.
Going concern
The going concern basis of these financial statements is dependent on maintaining enough capital to fund the day to day working capital requirements of the business. The Directors have considered a number of factors including the current and forecast performance of the company and the impact that any adverse economic and/or social challenges could have on the business. Based on this, the Directors have made an assessment that the company can operate for at least 12 months from the date these financial statements are approved and it is appropriate to present the accounts on a going concern basis.
Revenue from sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Intangible assets
Intangible assets relate to holdings of crypto assets revalued at exchange rates from recognised crypto exchanges.
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value where the difference between cost and fair value is material. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
2.Average number of employees

20242023
Average number of employees during the year00
3.Intangible assets

Other

Total

££
Cost or valuation
At 01 June 2395,55295,552
Additions1,339,8961,339,896
Revaluations1,239,7301,239,730
At 31 May 242,675,1782,675,178
Net book value
At 31 May 242,675,1782,675,178
At 31 May 2395,55295,552
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables9388,427
Taxation and social security379,0399,118
Other creditors1,450,84027,515
Accrued liabilities and deferred income-18,027
Total1,830,81763,087
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.