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Registered number: 03268835









LABSTONE LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 OCTOBER 2024

 
LABSTONE LIMITED
REGISTERED NUMBER: 03268835

STATEMENT OF FINANCIAL POSITION
AS AT 31 OCTOBER 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
1,449
327

  
1,449
327

Current assets
  

Debtors
  
227
335

Cash at bank and in hand
  
4,562
4,524

  
4,789
4,859

Current Liabilities
  

Creditors: amounts falling due within one year
 5 
(45,690)
(39,006)

Net current liabilities
  
 
 
(40,901)
 
 
(34,147)

Total assets less current liabilities
  
(39,452)
(33,820)

  

Net liabilities
  
(39,452)
(33,820)


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
(39,552)
(33,920)

  
(39,452)
(33,820)


Page 1

 
LABSTONE LIMITED
REGISTERED NUMBER: 03268835
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 OCTOBER 2024

The director considers that the company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 12 March 2025.


Z Jakubowski
Director

The notes on pages 3 to 6 form part of these financial statements.

Page 2

 
LABSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

1.


General information

Labstone Limited is a private company limited by shares and registered in England and Wales. The address of its registered office is 124 Finchley Road, London, England, NW3 5JS.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The following principal accounting policies have been applied:

 
2.2

Going concern

After reviewing the company's forecasts and projections, the director has a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. The company therefore continues to adopt the going concern basis in preparing its financial statements.

 
2.3

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.4

Taxation

Tax is recognised in the Statement of Income and Retained Earnings.
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 income.

 
2.5

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
LABSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

2.Accounting policies (continued)


2.5
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, on a reducing balance basis.

Depreciation is provided on the following basis:

Office equipment
-
25%
per annum
Computer equipment
-
25%
per annum

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
2.6

Debtors

Short term debtors are measured at transaction price, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours.

 
2.8

Creditors

Short term creditors are measured at the transaction price.


3.


Employees




The average monthly number of employees, including directors, during the year was 1 (2023 - 1).

Page 4

 
LABSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

4.


Tangible fixed assets





Office equipment
Computer equipment
Total

£
£
£



Cost or valuation


At 1 November 2023
10,958
-
10,958


Additions
-
1,482
1,482



At 31 October 2024

10,958
1,482
12,440



Depreciation


At 1 November 2023
10,631
-
10,631


Charge for the year on owned assets
82
278
360



At 31 October 2024

10,713
278
10,991



Net book value



At 31 October 2024
245
1,204
1,449



At 31 October 2023
327
-
327


5.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank overdrafts
68
-

Other creditors
44,372
37,756

Accruals
1,250
1,250

45,690
39,006



6.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



100 (2023 - 100) Share capital shares of £1.00 each
100
100


Page 5

 
LABSTONE LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2024

7.


Related party transactions

At the year end, the company owed the director £44,372 (2023: £37,756).The loan is interest free, unsecured and repayable on demand.

 
Page 6