REGISTERED NUMBER: 10233347 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 December 2024

for

Westbay Labs Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Paul McGrath

REGISTERED OFFICE:

40 Bayham Road

Bristol

City of Bristol

BS4 2DR

REGISTERED NUMBER:

10233347 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

FIXED ASSETS

Tangible assets

4

448

83

Investments

5

77,069

36,899

77,517

36,982

CURRENT ASSETS

Debtors

6

102

-

Cash at bank

2,319

3,477

2,421

3,477

CREDITORS

Amounts falling due within one year

7

29,043

27,409

NET CURRENT LIABILITIES

(26,622

)

(23,932

)

TOTAL ASSETS LESS CURRENT LIABILITIES

50,895

13,050

PROVISIONS FOR LIABILITIES

85

16

NET ASSETS

50,810

13,034

CAPITAL AND RESERVES

Called up share capital

8

1

1

Retained earnings

9

50,809

13,033

SHAREHOLDERS' FUNDS

50,810

13,034

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 20 August 2025 and were signed by:

Mr Paul McGrath - Director

1.	STATUTORY INFORMATION

Westbay Labs Ltd 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 as modified by the revaluation of certain assets.

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

-

Straight line over 3 years

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - 1 ).

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1 January 2024

2,598

Additions

620

At 31 December 2024

3,218

DEPRECIATION

At 1 January 2024

2,515

Charge for year

255

At 31 December 2024

2,770

NET BOOK VALUE

At 31 December 2024

448

At 31 December 2023

83

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST OR VALUATION

At 1 January 2024

36,899

Revaluations

40,170

At 31 December 2024

77,069

NET BOOK VALUE

At 31 December 2024

77,069

At 31 December 2023

36,899

Cost or valuation at 31 December 2024 is represented by:

Other

investments

£

Valuation in 2023

18,529

Valuation in 2024

40,170

Cost

18,370

77,069

If fixed asset investments had not been revalued they would have been included at the following historical cost:

31.12.24

31.12.23

£

£

Cost

18,370

18,370

Fixed asset investments were valued on an open market basis on 31 December 2024 by the director .

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other debtors

102

-

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.24

31.12.23

£

£

Other creditors

1,200

36

Directors' current accounts

26,583

26,335

Accrued expenses

1,260

1,038

29,043

27,409

8.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.24

31.12.23

value:

£

£

2

Ordinary

£0.50

1

1

9.

RESERVES

Retained

earnings

£

At 1 January 2024

13,033

Profit for the year

37,776

At 31 December 2024

50,809