Company Registration No. 11118801 (England and Wales)
LABEL SOURCE LIMITED
Unaudited accounts
for the year ended 31 December 2024
LABEL SOURCE LIMITED
Unaudited accounts
Contents
LABEL SOURCE LIMITED
Company Information
for the year ended 31 December 2024
Company Number
11118801 (England and Wales)
Registered Office
OFFICE 316, IMPERIAL CHAMBERS, 10-17
SEVENWAYS PARADE, WOODFORD AVENUE
LONDON
IG2 6JX
United Kingdom
Accountants
AUDTAX ACCOUNTANTS & TAX CONSULTANTS LIMITED
OFFICE 316, IMPERIAL CHAMBERS
10-17 SEVENWAYS PARADE, WOODFORD AVENUE
LONDON
IG2 6JX
LABEL SOURCE LIMITED
Statement of financial position
as at 31 December 2024
Tangible assets
21,518
9,583
Inventories
398,591
130,004
Cash at bank and in hand
85,389
163,013
Creditors: amounts falling due within one year
(217,569)
(182,356)
Net current assets
322,209
152,241
Total assets less current liabilities
343,727
161,824
Creditors: amounts falling due after more than one year
(125,840)
(25,000)
Net assets
217,887
136,824
Called up share capital
100
100
Profit and loss account
217,787
136,724
Shareholders' funds
217,887
136,824
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 29 August 2025 and were signed on its behalf by
Joshua Stead
Director
Company Registration No. 11118801
LABEL SOURCE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
LABEL SOURCE LIMITED is a private company, limited by shares, registered in England and Wales, registration number 11118801. The registered office is OFFICE 316, IMPERIAL CHAMBERS, 10-17, SEVENWAYS PARADE, WOODFORD AVENUE, LONDON, IG2 6JX, United Kingdom.
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
50% on straight line basis
Fixtures & fittings
50% on straight line basis
Computer equipment
50% on straight line basis
LABEL SOURCE LIMITED
Notes to the Accounts
for the year ended 31 December 2024
4
Tangible fixed assets
Plant & machinery
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2024
6,351
2,316
15,399
24,066
Additions
9,769
3,511
10,210
23,490
At 31 December 2024
16,120
5,827
25,609
47,556
At 1 January 2024
3,590
1,849
9,044
14,483
Charge for the year
4,012
1,130
6,413
11,555
At 31 December 2024
7,602
2,979
15,457
26,038
At 31 December 2024
8,518
2,848
10,152
21,518
At 31 December 2023
2,761
467
6,355
9,583
Amounts falling due within one year
Other debtors
55,798
41,580
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
59,345
7,830
Taxes and social security
26,209
46,131
Other creditors
64,985
(1,156)
Loans from directors
3,908
79,462
7
Creditors: amounts falling due after more than one year
2024
2023
8
Average number of employees
During the year the average number of employees was 4 (2023: 2).