REGISTERED NUMBER: 14964224 (England and Wales)

Unaudited Financial Statements

for the Year Ended

31 December 2024

for

Latent Labs Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

S Kohl

SECRETARY:

Oakwood Corporate Secretary Limited

REGISTERED OFFICE:

3rd Floor, 1 Ashley Road

Altrincham

Cheshire

WA14 2DT

REGISTERED NUMBER:

14964224 (England and Wales)

ACCOUNTANTS:

Jacksons Accountants (Ascot) Limited

The Old Bakehouse

Course Road

Ascot

Berkshire

SL5 7HL

FIXED ASSETS

Tangible assets

4

16,217

6,504

CURRENT ASSETS

Debtors

5

385,330

37,968

Cash at bank

596,729

604,872

982,059

642,840

CREDITORS

Amounts falling due within one year

6

1,045,621

32,810

NET CURRENT (LIABILITIES)/ASSETS

(63,562

)

610,030

TOTAL ASSETS LESS CURRENT LIABILITIES

(47,345

)

616,534

CAPITAL AND RESERVES

Called up share capital

7

205

80

Share premium

8

2,034,797

784,922

Retained earnings

8

(2,082,347

)

(168,468

)

SHAREHOLDERS' FUNDS

(47,345

)

616,534

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 director and authorised for issue on 22 August 2025 and were signed by:

S Kohl - Director

1.	STATUTORY INFORMATION

Latent Labs Limited 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.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

20% on cost

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 5 (2023 - 2 ) .

4.	TANGIBLE FIXED ASSETS

Fixtures

and

Computer

fittings

equipment

Totals

£

£

£

COST

At 1 January 2024

-

6,808

6,808

Additions

7,196

5,290

12,486

At 31 December 2024

7,196

12,098

19,294

DEPRECIATION

At 1 January 2024

-

304

304

Charge for year

810

1,963

2,773

At 31 December 2024

810

2,267

3,077

NET BOOK VALUE

At 31 December 2024

6,386

9,831

16,217

At 31 December 2023

-

6,504

6,504

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

19,407

4,541

Corporation tax

347,512

23,029

VAT

13,615

9,073

Prepayments

4,796

1,325

385,330

37,968

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Trade creditors

164,437

7,786

Amounts owed to group undertakings

839,641

-

Social security and other taxes

32,852

-

Other creditors

5,271

-

Accrued expenses

3,420

25,024

1,045,621

32,810

7.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

20,450

Ordinary

£0.01

205

80

12,500 Ordinary shares of £0.01 each were allotted as fully paid at a premium of £99.99 per share during the year.

8.

RESERVES

Retained

Share

earnings

premium

Totals

£

£

£

At 1 January 2024

(168,468

)

784,922

616,454

Deficit for the year

(1,913,879

)

(1,913,879

)

Cash share issue

-

1,249,875

1,249,875

At 31 December 2024

(2,082,347

)

2,034,797

(47,550

)

9.	PARENT COMPANY

The immediate and ultimate parent undertaking is Latent Labs Technologies, Inc. (incorporated in the United States) by virtue of it holding 100% of the issued shared capital of the company. Its registered office is: 953 Indiana Street, San Francisco, CA 94107.