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Logo On Report
Registered Number: 08148862
England and Wales

 

 

 

OUR SECRET LAB LIMITED


Unaudited Financial Statements
 


Period of accounts

Start date: 01 August 2023

End date: 31 July 2024
Director Christopher Cutbush
Registered Number 08148862
Registered Office Belgrave House
39-43 Monumemnt Hill
Weybridge
KT13 8RN
Accountants Ward Williams Creatives Limited
Belgrave House
39-43 Monument Hill
Weybridge
Surrey
KT13 8RN
1
 
 
Notes
 
2024
£
  2023
£
Fixed assets      
Tangible fixed assets 3 100,485    40,302 
100,485    40,302 
Current assets      
Debtors 4 460,117    491,629 
Cash at bank and in hand 260,780    300,095 
720,897    791,724 
Creditors: amount falling due within one year 5 (745,814)   (662,425)
Net current assets (24,917)   129,299 
 
Total assets less current liabilities 75,568    169,601 
Creditors: amount falling due after more than one year 6 (67,190)   (18,333)
Provisions for liabilities 7 (4,352)   (12,036)
Net assets 4,026    139,232 
 

Capital and reserves
     
Called up share capital 2    2 
Share premium account 8 3,964    3,964 
Profit and loss account 60    135,266 
Shareholders' funds 4,026    139,232 
 


For the year ended 31 July 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Director's responsibilities:
  1. The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476.
  2. The director acknowledges their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. In accordance with Section 444 of the Companies Act 2006, the income statement has not been delivered to the Registrar of Companies.
The financial statements were approved by the director on 05 March 2025 and were signed by:


-------------------------------
Christopher Cutbush
Director
2
General Information
Our Secret Lab Limited is a private company, limited by shares, registered in England and Wales, registration number 08148862, registration address Belgrave House, 39-43 Monumemnt Hill , Weybridge, KT13 8RN.

The presentation currency is £ sterling.
1.

Accounting policies

Significant accounting policies
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by Section 1A of the standard)
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.
Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rate of exchange ruling at the statement of financial position date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All foreign exchange differences are included to the income statement.
Taxation
Taxation represents the sum of tax currently payable and deferred tax. Tax is recognised in the statement of income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves.
The company’s liability for current tax is calculated using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Current and deferred tax assets and liabilities are not discounted
Deferred taxation
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date.
Deferred tax is measured using 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.
Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.
Current and deferred tax assets and liabilities are not discounted.
Tangible fixed assets
Tangible fixed assets, other than freehold land, are stated at cost or valuation less depreciation and any provision for impairment. Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following basis:
Provisions
Provisions are recognised when the company has a present obligation as a result of a past event which it is more probable than not will result in an outflow of economic benefits that can be reasonably estimated.
2.

Average number of employees

Average number of employees during the year was 4 (2023 : 4).
3.

Tangible fixed assets

Cost or valuation Motor Vehicles   Fixtures and Fittings   Computer Equipment   Total
  £   £   £   £
At 01 August 2023   167,126    102,995    270,121 
Additions 88,380    6,478    661    95,519 
Disposals      
At 31 July 2024 88,380    173,604    103,656    365,640 
Depreciation
At 01 August 2023   151,998    77,821    229,819 
Charge for year 21,671    4,674    8,991    35,336 
On disposals      
At 31 July 2024 21,671    156,672    86,812    265,155 
Net book values
Closing balance as at 31 July 2024 66,709    16,932    16,844    100,485 
Opening balance as at 01 August 2023   15,128    25,174    40,302 


4.

Debtors: amounts falling due within one year

2024
£
  2023
£
Trade Debtors 148,142    58,174 
Other Debtors 7,536   
Directors' Current Accounts 22,330    15,541 
178,008    73,715 

4.

Debtors: amounts falling due after one year

2024
£
  2023
£
Prepayments 282,109    417,914 
282,109    417,914 

5.

Creditors: amount falling due within one year

2024
£
  2023
£
Trade Creditors 220,681    172,836 
Bank Loans & Overdrafts (Secured) 10,297   
Bank Loans & Overdrafts 10,000    10,000 
Corporation Tax 12,696    36,419 
PAYE & Social Security 2,026    1,693 
Accrued Expenses 3,039    4,217 
Deferred Income 413,000    402,426 
Other Creditors 28,016    29,918 
VAT 46,059    4,916 
745,814    662,425 

6.

Creditors: amount falling due after more than one year

2024
£
  2023
£
Bank Loans & Overdrafts (secured) 58,645   
Bank Loans & Overdrafts 8,334    18,333 
Other Creditors 211   
67,190    18,333 

7.

Provisions for liabilities

2024
£
  2023
£
Deferred Tax 4,352    12,036 
4,352    12,036 

8.

Share premium account

2024
£
  2023
£
Equity Share Premium b/fwd 3,964    3,964 
3,964    3,964 

9.

Directors' Current Accounts

As at the reporting date, the directors' current accounts were overdrawn by an aggregated total of £22,330 (2023: £15,541) .
The loans are unsecured, repayable on demand and interest has been charged at the HMRC official rate of interest. 
3