Company Registration No. 08260301 (England and Wales)
Irislab Limited
Unaudited accounts
for the year ended 31 October 2024
Irislab Limited
Unaudited accounts
Contents
Irislab Limited
Company Information
for the year ended 31 October 2024
Director
Mr Matthew D'haemer
Company Number
08260301 (England and Wales)
Registered Office
Cca, Sussex Innovation Centre
Science Park Square
Brighton
BN1 9SB
England
Accountants
Collective Concepts Accounting Ltd
Irislab Limited
Statement of financial position
as at 31 October 2024
Tangible assets
6,577
6,743
Cash at bank and in hand
1,919
4,024
Creditors: amounts falling due within one year
(76,807)
(60,566)
Net current liabilities
(61,877)
(15,178)
Total assets less current liabilities
(55,300)
(8,435)
Creditors: amounts falling due after more than one year
(3,500)
(9,500)
Net liabilities
(58,800)
(17,935)
Called up share capital
100
100
Profit and loss account
(58,900)
(18,035)
Shareholders' funds
(58,800)
(17,935)
For the year ending 31 October 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 22 July 2025 and were signed on its behalf by
Mr Matthew D'haemer
Director
Company Registration No. 08260301
Irislab Limited
Notes to the Accounts
for the year ended 31 October 2024
Irislab Limited is a private company, limited by shares, registered in England and Wales, registration number 08260301. The registered office is Cca, Sussex Innovation Centre, Science Park Square, Brighton, BN1 9SB, England.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Plant & machinery
25% Reducing Balance
Computer equipment
25% Reducing Balance
The financial statement have been prepared on a going concern basis on the grounds that the Director have confirmed he will continue to support the company.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Irislab Limited
Notes to the Accounts
for the year ended 31 October 2024
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Tangible fixed assets
Plant & machinery
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 November 2023
10,483
6,737
17,220
At 31 October 2024
10,753
8,189
18,942
At 1 November 2023
5,853
4,624
10,477
Charge for the year
1,219
669
1,888
At 31 October 2024
7,072
5,293
12,365
At 31 October 2024
3,681
2,896
6,577
At 31 October 2023
4,630
2,113
6,743
Amounts falling due within one year
Amounts due from group undertakings etc.
8,761
2,000
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Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
3,000
-
Loans from directors
73,719
53,904
7
Creditors: amounts falling due after more than one year
2024
2023
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Transactions with related parties
At the end of the year company owed £8,761 (2023: £2,000) by Healthdatalab Ltd and also inter-company sales of £35,997 with it has been written off during the year.
Both IrisLab Ltd and HealthDataLab Ltd are under common control.
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Average number of employees
During the year the average number of employees was 2 (2023: 1).