Registered number
06757314
Total Laboratory Services Ltd
Filleted Accounts
31 December 2024
Total Laboratory Services Ltd
Registered number: 06757314
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 133,437 156,378
Current assets
Stocks 15,066 16,392
Debtors 4 92,054 76,701
Cash at bank and in hand 347,333 328,751
454,453 421,844
Creditors: amounts falling due within one year 5 (229,617) (228,720)
Net current assets 224,836 193,124
Total assets less current liabilities 358,273 349,502
Creditors: amounts falling due after more than one year 6 (28,350) (30,759)
Provisions for liabilities (12,191) (10,343)
Net assets 317,732 308,400
Capital and reserves
Called up share capital 2 2
Profit and loss account 317,730 308,398
Shareholders' funds 317,732 308,400
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Mrs Sarah Netherway
Director
Approved by the board on 21 May 2025
Total Laboratory Services Ltd
Notes to the Accounts
for the year ended 31 December 2024
1 Accounting policies
Basis of preparation
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 is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Land and buildings over 50 years
Motor vehicles 25% reducing balance
Plant and equipment over 3 years/15% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
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.
Leased assets
A lease is classified as a finance lease if it transfers substantially all the risks and rewards incidental to ownership. All other leases are classified as operating leases. The rights of use and obligations under finance leases are initially recognised as assets and liabilities at amounts equal to the fair value of the leased assets or, if lower, the present value of the minimum lease payments. Minimum lease payments are apportioned between the finance charge and the reduction in the outstanding liability using the effective interest rate method. The finance charge is allocated to each period during the lease so as to produce a constant periodic rate of interest on the remaining balance of the liability. Leased assets are depreciated in accordance with the company's policy for tangible fixed assets. If there is no reasonable certainty that ownership will be obtained at the end of the lease term, the asset is depreciated over the lower of the lease term and its useful life. Operating lease payments are recognised as an expense on a straight line basis over the lease term.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 5
3 Tangible fixed assets
Land and buildings Motor vehicles Plant and machinery etc Total
£ £ £ £
Cost
At 1 January 2024 91,141 129,079 46,574 266,794
Additions - 17,900 2,801 20,701
Disposals - (51,995) - (51,995)
At 31 December 2024 91,141 94,984 49,375 235,500
Depreciation
At 1 January 2024 19,323 53,001 38,092 110,416
Charge for the year 1,823 16,519 3,365 21,707
On disposals - (30,060) - (30,060)
At 31 December 2024 21,146 39,460 41,457 102,063
Net book value
At 31 December 2024 69,995 55,524 7,918 133,437
At 31 December 2023 71,818 76,078 8,482 156,378
4 Debtors 2024 2023
£ £
Trade debtors 91,602 76,270
Other debtors 452 431
92,054 76,701
5 Creditors: amounts falling due within one year 2024 2023
£ £
Obligations under finance lease and hire purchase contracts 7,137 41,833
Trade creditors 84,730 90,145
Taxation and social security costs 108,465 75,513
Other creditors 29,285 21,229
229,617 228,720
6 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans - 7,500
Obligations under finance lease and hire purchase contracts 28,350 23,259
28,350 30,759
7 Other information
Total Laboratory Services Ltd is a private company limited by shares and incorporated in England. Its registered office is:
5B Sunrise Business Park
Higher Shaftesbury Road
Blandford Forum
Dorset
DT11 8ST
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