Registered number
05466778
Lab Plant UK Limited
Filleted Accounts
31 March 2025
Lab Plant UK Limited
Registered number: 05466778
Balance Sheet
as at 31 March 2025
Notes 2025 2024
£ £
Fixed assets
Intangible assets 3 4,468 3,989
Tangible assets 4 35,255 39,409
39,723 43,398
Current assets
Stocks 87,354 65,438
Debtors 5 181,057 118,067
Cash at bank and in hand 494,838 561,667
763,249 745,172
Creditors: amounts falling due within one year 6 (52,306) (67,999)
Net current assets 710,943 677,173
Net assets 750,666 720,571
Capital and reserves
Called up share capital 1,007 1,007
Profit and loss account 749,659 719,564
Shareholders' funds 750,666 720,571
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.
Mr B Waters
Director
Approved by the board on 20 June 2025
Lab Plant UK Limited
Notes to the Accounts
for the year ended 31 March 2025
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.
Intangible fixed assets
Intangible fixed assets are measured at cost less accumulative amortisation and any accumulative impairment losses.
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:
Plant and machinery 15% reducing balance/33% straight line
Motor vehicles 25% 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.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
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.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2025 2024
Number Number
Average number of persons employed by the company 0 0
3 Intangible fixed assets
£
Cost
At 1 April 2024 3,989
Additions 479
At 31 March 2025 4,468
Amortisation
At 31 March 2025 -
Net book value
At 31 March 2025 4,468
At 31 March 2024 3,989
Development costs are capitalised only if they are reliably measurable, the product or process is technically and commercially feasible, it is probable that future economic benefits will be generated and the Company has the intention and sufficient resources to complete the development and to use or sell them. Other development costs are recognised as an expense as incurred.
4 Tangible fixed assets
Land and buildings Plant and machinery etc Total
£ £ £
Cost
At 1 April 2024 7,436 77,729 85,165
Additions - 446 446
At 31 March 2025 7,436 78,175 85,611
Depreciation
At 1 April 2024 - 45,756 45,756
Charge for the year - 4,600 4,600
At 31 March 2025 - 50,356 50,356
Net book value
At 31 March 2025 7,436 27,819 35,255
At 31 March 2024 7,436 31,973 39,409
5 Debtors 2025 2024
£ £
Trade debtors 125,322 79,201
Other debtors 55,735 38,866
181,057 118,067
6 Creditors: amounts falling due within one year 2025 2024
£ £
Trade creditors 26,884 49,369
Taxation and social security costs 23,199 13,951
Other creditors 2,223 4,679
52,306 67,999
7 Other information
Lab Plant UK Limited is a private company limited by shares and incorporated in England. Its registered office is:
Unit 1b Hunmanby Industrial Estate
Hunmanby
Filey
North Yorkshire
YO14 0PH
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