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REGISTERED NUMBER: 13165074 (England and Wales)













UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2025

FOR

LAB FIFTEEN CO LTD

LAB FIFTEEN CO LTD (REGISTERED NUMBER: 13165074)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4

Chartered Certified Accountants' Report 7

LAB FIFTEEN CO LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2025







DIRECTORS: M L Whitehead
Mrs S Whitehead





REGISTERED OFFICE: 15 Glen Way
Coalville
Leicestershire
LE67 4BW





REGISTERED NUMBER: 13165074 (England and Wales)





ACCOUNTANTS: Crowfoot & Co Accountants Ltd
Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD

LAB FIFTEEN CO LTD (REGISTERED NUMBER: 13165074)

BALANCE SHEET
31 JANUARY 2025

2025 2024
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 2,000 4,000
Tangible assets 5 2,341 2,809
4,341 6,809

CURRENT ASSETS
Stocks 5,935 6,284
Debtors 6 1,806 807
Cash at bank 3,349 2,435
11,090 9,526
CREDITORS
Amounts falling due within one year 7 12,873 13,432
NET CURRENT LIABILITIES (1,783 ) (3,906 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

2,558

2,903

PROVISIONS FOR LIABILITIES 445 443
NET ASSETS 2,113 2,460

CAPITAL AND RESERVES
Called up share capital 10 10
Retained earnings 2,103 2,450
SHAREHOLDERS' FUNDS 2,113 2,460

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

LAB FIFTEEN CO LTD (REGISTERED NUMBER: 13165074)

BALANCE SHEET - continued
31 JANUARY 2025


The 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.

The financial statements were approved by the Board of Directors and authorised for issue on 18 April 2025 and were signed on its behalf by:




M L Whitehead - Director



Mrs S Whitehead - Director


LAB FIFTEEN CO LTD (REGISTERED NUMBER: 13165074)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2025

1. STATUTORY INFORMATION

Lab Fifteen Co Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill, being the amount paid in connection with the acquisition of a business in 2021, is being amortised evenly over its estimated useful life of five years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Computer equipment - 15% on reducing balance

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and 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.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

LAB FIFTEEN CO LTD (REGISTERED NUMBER: 13165074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 February 2024
and 31 January 2025 10,000
AMORTISATION
At 1 February 2024 6,000
Amortisation for year 2,000
At 31 January 2025 8,000
NET BOOK VALUE
At 31 January 2025 2,000
At 31 January 2024 4,000

5. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 February 2024
and 31 January 2025 2,999 869 3,868
DEPRECIATION
At 1 February 2024 450 609 1,059
Charge for year 382 86 468
At 31 January 2025 832 695 1,527
NET BOOK VALUE
At 31 January 2025 2,167 174 2,341
At 31 January 2024 2,549 260 2,809

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade debtors 179 16
Other debtors 1,627 791
1,806 807

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2025 2024
£    £   
Trade creditors 455 1,373
Taxation and social security 742 731
Other creditors 11,676 11,328
12,873 13,432

LAB FIFTEEN CO LTD (REGISTERED NUMBER: 13165074)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2025

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At 31 January 2025, an amount of £10,169 (2024 £9,949) was due to the directors which is included within creditors on the balance sheet.

9. ULTIMATE CONTROLLING PARTY

The controlling party is M L Whitehead and S Whitehead.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
LAB FIFTEEN CO LTD

The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Lab Fifteen Co Ltd for the year ended 31 January 2025 which comprise the Income Statement, Balance Sheet, Statement of Changes in Equity and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of Lab Fifteen Co Ltd, as a body, in accordance with our terms of engagement. Our work has been undertaken solely to prepare for your approval the financial statements of Lab Fifteen Co Ltd and state those matters that we have agreed to state to the Board of Directors of Lab Fifteen Co Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at
https://www.accaglobal.com/content/dam/ACCA_Global/Technical/fact/tf-163-jan-24.pdf.

To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that Lab Fifteen Co Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Lab Fifteen Co Ltd. You consider that Lab Fifteen Co Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Lab Fifteen Co Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Crowfoot & Co Accountants Ltd
Lonsdale House
High Street
Lutterworth
Leicestershire
LE17 4AD


18 April 2025