Registered number
13664523
Full-on Labs Ltd
Unaudited Filleted Accounts
31 October 2024
Full-on Labs Ltd
Registered number: 13664523
Balance Sheet
as at 31 October 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 5,844 5,474
Investments 4 140,015 20,007
145,859 25,481
Current assets
Debtors 5 78,621 35,975
Cash at bank and in hand 122,645 81,203
201,266 117,178
Creditors: amounts falling due within one year 6 (89,763) (34,919)
Net current assets 111,503 82,259
Net assets 257,362 107,740
Capital and reserves
Called up share capital 1 1
Profit and loss account 257,361 107,739
Shareholder's funds 257,362 107,740
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges his 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.
M Apps
Director
Approved by the board on 21 June 2025
Full-on Labs Ltd
Notes to the Accounts
for the year ended 31 October 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:
Office and Computer Equipment 20% Reducing Balance
Investments
Investments in subsidiaries, associates and joint ventures are measured at cost less any accumulated impairment losses. Listed investments are measured at fair value. Unlisted investments are measured at fair value unless the value cannot be measured reliably, in which case they are measured at cost less any accumulated impairment losses. Changes in fair value are included in the profit and loss account.
Creditors
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.
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.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 November 2023 7,800
Additions 1,831
At 31 October 2024 9,631
Depreciation
At 1 November 2023 2,326
Charge for the year 1,461
At 31 October 2024 3,787
Net book value
At 31 October 2024 5,844
At 31 October 2023 5,474
4 Investments
Other
investments
£
Cost
At 1 November 2023 20,007
Additions 120,008
At 31 October 2024 140,015
5 Debtors 2024 2023
£ £
Trade debtors 78,621 31,200
Other debtors - 4,775
78,621 35,975
6 Creditors: amounts falling due within one year 2024 2023
£ £
Trade creditors 925 900
Corporation tax 68,759 17,065
Taxation and social security costs 17,992 14,872
Other creditors 2,087 2,082
89,763 34,919
7 Controlling party
The company is controlled by M Apps, the sole director, by virtue of his ownership of 100% of the issued share capital of the the company.
8 Other information
Full-on Labs Ltd is a private company limited by shares and incorporated in England. Its registered office is:
2 Sefton Drive
Worsley
Manchester
M28 2NQ
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