2023-05-012024-04-292024-04-29false12546471POSITEETHLABS 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POSITEETHLABS LTD

(formerly THE LAB PROJECT LTD)

Registered Number
12546471
(England and Wales)

Unaudited Financial Statements for the Period ended
29 April 2024

POSITEETHLABS LTD
Company Information
for the period from 1 May 2023 to 29 April 2024

Director

STRATAKIS, Charilaos-Antzei

Registered Address

13 Clare Street
Bristol
BS1 1XH

Registered Number

12546471 (England and Wales)
POSITEETHLABS LTD
Balance Sheet as at
29 April 2024

Notes

2024

2023

£

£

£

£

Current assets
Debtors31010
Cash at bank and on hand2584,214
2684,224
Creditors amounts falling due within one year4(32,891)(9,056)
Net current assets (liabilities)(32,623)(4,832)
Total assets less current liabilities(32,623)(4,832)
Net assets(32,623)(4,832)
Capital and reserves
Called up share capital1010
Profit and loss account(32,633)(4,842)
Shareholders' funds(32,623)(4,832)
The financial statements were approved and authorised for issue by the Director on 17 April 2025, and are signed on its behalf by:
STRATAKIS, Charilaos-Antzei
Director
Registered Company No. 12546471
POSITEETHLABS LTD
Notes to the Financial Statements
for the period ended 29 April 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.
Functional and presentation currency
The financial statements are presented in sterling and this is the functional currency of the company.
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.
Employee benefits
Short-term employee benefits are measured at the undiscounted amount expected to be paid in exchange for the employee's services to the company. Where employees have accrued short-term benefits which the entity has not paid by the balance sheet date, an accrual is recognised within creditors: amounts falling due within one year together with an associated expense in profit or loss. The liabilities are classified as current obligations in the statement of financial position because they are expected to be settled wholly within twelve months after the end of the period.
Current taxation
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.
2.Average number of employees

20242023
Average number of employees during the year11
3.Debtors: amounts due within one year

2024

2023

££
Other debtors1010
Total1010
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
4.Creditors: amounts due within one year

2024

2023

££
Trade creditors / trade payables1,882-
Taxation and social security2,865166
Other creditors27,3448,410
Accrued liabilities and deferred income800480
Total32,8919,056
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.
5.Directors advances, credits and guarantees
Director`s loan account balance of £29 (2023: £460) relates to director C Stratakis.