Registration number:
Laboratory Ideas UK Limited
for the Period from 19 June 2023 to 30 June 2024
Laboratory Ideas UK Limited
Contents
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Company Information |
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Balance Sheet |
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Notes to the Unaudited Financial Statements |
Laboratory Ideas UK Limited
Company Information
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Director |
Mr David Kovats |
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Registered office |
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Accountants |
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Laboratory Ideas UK Limited
(Registration number: 14944294)
Balance Sheet as at 30 June 2024
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Note |
2024 |
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Fixed assets |
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Intangible assets |
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Tangible assets |
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Current assets |
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Debtors |
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Cash at bank and in hand |
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Creditors: Amounts falling due within one year |
( |
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Net current liabilities |
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Net liabilities |
( |
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Capital and reserves |
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Called up share capital |
110 |
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Retained earnings |
(95,638) |
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Shareholders' deficit |
(95,528) |
For the financial period ending 30 June 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Laboratory Ideas UK Limited
(Registration number: 14944294)
Balance Sheet as at 30 June 2024
Director's responsibilities:
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The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts. |
Approved and authorised by the
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Appointed 19 June 2023 |
Laboratory Ideas UK Limited
Notes to the Unaudited Financial Statements for the Period from 19 June 2023 to 30 June 2024
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General information |
The company is a private company limited by share capital, incorporated in United Kingdom.
The address of its registered office is:
U.K.
These financial statements were authorised for issue by the
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Accounting policies |
Summary of significant accounting policies and key accounting estimates
The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.
Statement of compliance
These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).
Basis of preparation
These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.
Disclosure of long or short period
Revenue recognition
Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.
Laboratory Ideas UK Limited
Notes to the Unaudited Financial Statements for the Period from 19 June 2023 to 30 June 2024
Tangible assets
Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.
Depreciation
Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:
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Asset class |
Depreciation method and rate |
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Office equipment |
25% reducing balance |
Amortisation
Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:
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Asset class |
Amortisation method and rate |
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Trade Marks |
10 Year Straight Line |
Cash and cash equivalents
Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.
Trade creditors
Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.
Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.
Laboratory Ideas UK Limited
Notes to the Unaudited Financial Statements for the Period from 19 June 2023 to 30 June 2024
Borrowings
Interest-bearing borrowings are initially recorded at fair value, net of transaction costs.
Borrowings are initially recorded at fair value, net of transaction costs. The shareholder loan is non interest bearing, Borrowings are classified as current liabilities as the company does not have a right to defer settlement of the liability for at least twelve months after the reporting date. The shareholder loan is payable on demand.
Share capital
Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.
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Staff numbers |
The average number of persons employed by the company (including the director) during the period, was
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Intangible assets |
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Other intangible assets |
Total |
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Cost or valuation |
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Additions acquired separately |
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At 30 June 2024 |
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Amortisation |
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Amortisation charge |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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Laboratory Ideas UK Limited
Notes to the Unaudited Financial Statements for the Period from 19 June 2023 to 30 June 2024
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Tangible assets |
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Furniture, fittings and equipment |
Total |
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Cost or valuation |
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Additions |
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At 30 June 2024 |
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Depreciation |
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Charge for the period |
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At 30 June 2024 |
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Carrying amount |
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At 30 June 2024 |
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Debtors |
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Current |
2024 |
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Prepayments |
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Other debtors |
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Laboratory Ideas UK Limited
Notes to the Unaudited Financial Statements for the Period from 19 June 2023 to 30 June 2024
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Creditors |
Creditors: amounts falling due within one year
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Note |
2024 |
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Due within one year |
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Loans and borrowings |
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Trade creditors |
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Taxation and social security |
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Accruals and deferred income |
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Share capital |
Allotted, called up and fully paid shares
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2024 |
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No. |
£ |
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Ordinary share capital of £1 each |
30 |
30 |
Allotted, called up and not fully paid shares
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2024 |
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No. |
£ |
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Ordinary share capital of £1 each |
80 |
80 |
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Loans and borrowings |
Current loans and borrowings
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2024 |
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Other borrowings |
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Loans are interest free and repayable on demand. The loans are classified as current loans.