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Company Registration No. 13809533 (England and Wales)
N2 Sweet Lab Ltd Unaudited accounts for the year ended 31 December 2024
N2 Sweet Lab Ltd Unaudited accounts Contents
Page
Company information
3
Statement of financial position
4
Notes to the accounts
5
- 2 -
N2 Sweet Lab Ltd Company Information for the year ended 31 December 2024
Director
Mr Nedelcho Vichev
Company Number
13809533 (England and Wales)
Registered Office
84 King Street Maidstone Kent ME14 1BH England
Accountants
Prody Books Ltd The Old Library St Faith's Street Maidstone Kent ME14 1LH
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N2 Sweet Lab Ltd Statement of financial position as at 31 December 2024
2024
2023
Notes
£
£
Fixed assets
Tangible assets
4
4,059
4,457
Current assets
Inventories
4,000
3,902
Debtors
5
1,796
1,435
Cash at bank and in hand
10,209
9,941
16,005
15,278
Creditors: amounts falling due within one year
6
(39,236)
(31,214)
Net current liabilities
(23,231)
(15,936)
Net liabilities
(19,172)
(11,479)
Capital and reserves
Called up share capital
7
100
100
Profit and loss account
(19,272)
(11,579)
Shareholders' funds
(19,172)
(11,479)
For the year ending 31 December 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 5 September 2025 and were signed on its behalf by
Mr Nedelcho Vichev Director Company Registration No. 13809533
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N2 Sweet Lab Ltd Notes to the Accounts for the year ended 31 December 2024
1
Statutory information
N2 Sweet Lab Ltd is a private company, limited by shares, registered in England and Wales, registration number 13809533. The registered office is 84 King Street, Maidstone, Kent, ME14 1BH, 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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
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.
Inventories
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.
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
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:
Fixtures & fittings
25% reducing balance
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N2 Sweet Lab Ltd Notes to the Accounts for the year ended 31 December 2024
4
Tangible fixed assets
Fixtures & fittings
£
Cost or valuation
At cost
At 1 January 2024
4,996
Additions
907
At 31 December 2024
5,903
Depreciation
At 1 January 2024
539
Charge for the year
1,305
At 31 December 2024
1,844
Net book value
At 31 December 2024
4,059
At 31 December 2023
4,457
5
Debtors
2024
2023
£
£
Amounts falling due within one year
Accrued income and prepayments
1,796
1,435
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
340
-
Taxes and social security
(179)
(257)
Other creditors
869
-
Loans from directors
37,322
30,633
Accruals
884
838
39,236
31,214
7
Share capital
2024
2023
£
£
Allotted, called up and fully paid:
100 Ordinary shares of £1 each
100
100
8
Operating lease commitments
2024
2023
£
£
At 31 December 2024 the company had the following future minimum lease payments under non-cancellable operating leases for each of the following periods:
Not later than one year
12,000
12,000
Later than one year and not later than five years
1,567
12,000
13,567
24,000
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N2 Sweet Lab Ltd Notes to the Accounts for the year ended 31 December 2024
9
Average number of employees
During the year the average number of employees was 3 (2023: 1).
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