Company registration number:
15204378
Intro Labs Ltd
Trading as
Sendr
Unaudited filleted financial statements
31 October 2024
Intro Labs Ltd
Contents
Directors and other information
Statement of financial position
Statement of changes in equity
Notes to the financial statements
Intro Labs Ltd
Directors and other information
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Directors |
Mr David Alexander Cannell |
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Mr John Haywood Bromley |
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Secretary |
David Alexander Cannell |
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Company number |
15204378 |
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Registered office |
Third Floor, Broadwalk House |
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Southernhay West |
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Exeter |
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EX1 1TS |
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Business address |
Third Floor, Boardwalk House |
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Southernhay West |
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Exeter |
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EX1 1TS |
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Accountants |
Hardcastle Blake |
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19 New Road |
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Drayton Parslow |
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Milton Keynes |
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MK17 0JH |
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Intro Labs Ltd
Statement of financial position
31 October 2024
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2024 |
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Note |
£ |
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£ |
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Current assets |
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Debtors |
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5 |
7,584 |
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Cash at bank and in hand |
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245,112 |
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_______ |
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252,696 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
27,351) |
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_______ |
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Net current assets |
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225,345 |
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_______ |
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Total assets less current liabilities |
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225,345 |
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_______ |
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Net assets |
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225,345 |
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_______ |
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Capital and reserves |
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Called up share capital |
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7 |
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1,349 |
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Share premium account |
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387,150 |
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Profit and loss account |
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(
163,154) |
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_______ |
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Shareholders funds |
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225,345 |
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For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
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The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
27 February 2025
, and are signed on behalf of the board by:
Mr David Alexander Cannell
Mr John Haywood Bromley
Director
Director
Company registration number:
15204378
Intro Labs Ltd
Statement of changes in equity
Year ended 31 October 2024
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Called up share capital |
Share premium account |
Profit and loss account |
Total |
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£ |
£ |
£ |
£ |
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At 1 November 2023 |
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- |
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- |
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Loss for the year |
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(
163,154) |
(
163,154) |
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Total comprehensive income for the year |
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- |
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163,154) |
(
163,154) |
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Issue of shares |
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1,349 |
387,150 |
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388,499 |
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Total investments by and distributions to owners |
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1,349 |
387,150 |
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388,499 |
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At 31 October 2024 |
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1,349 |
387,150 |
(
163,154) |
225,345 |
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_______ |
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Intro Labs Ltd
Notes to the financial statements
Year ended 31 October 2024
1.
General information
The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Third Floor, Broadwalk House, Southernhay West, Exeter, EX1 1TS.
2.
Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.
When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.
When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that 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 that are expected to apply to the reversal of the timing difference.
Research and development
Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument.
Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Debt instruments are subsequently measured at amortised cost.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
1
5.
Debtors
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2024 |
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£ |
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Other debtors |
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7,584 |
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_______ |
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6.
Creditors: amounts falling due within one year
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2024 |
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£ |
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Social security and other taxes |
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1,643 |
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Other creditors |
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25,708 |
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_______ |
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27,351 |
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7.
Called up share capital
On incorporation the company issued 1,000 ordinary shares to the founders. During the year the company issued a further 349 ordinary shares to investors at a premium to investors under the EIS scheme
8.
Related party transactions
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Transaction value |
Balance owed by /(owed to) |
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Year |
Year |
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ended |
ended |
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2024 |
2024 |
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£ |
£ |
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Chief Growth Limited |
4,050
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4,050) |
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During the year, Chief Growth Limited (owned by Mr D Cannell - director) |
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incurred costs of £4.050 on behalf of the company. |
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There is no set repayment date for this |
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9.
Controlling party
The company is jointly controlled by Mr D Cannell and Mr J Bromley - directors by virtue of their share ownership and voting rights exceeding 50%