Registered number
09577300
Indielab Ltd
Unaudited Filleted Accounts
31 December 2024
Indielab Ltd
Registered number: 09577300
Balance Sheet
as at 31 December 2024
Notes 2024 2023
£ £
Fixed assets
Intangible assets 3 323 405
Tangible assets 4 3,877 3,498
4,200 3,903
Current assets
Debtors 5 39,010 83,076
Cash at bank and in hand 340,851 367,492
379,861 450,568
Creditors: amounts falling due within one year 6 (78,191) (141,797)
Net current assets 301,670 308,771
Total assets less current liabilities 305,870 312,674
Creditors: amounts falling due after more than one year 7 (2,920) (12,342)
Provisions for liabilities (737) (875)
Net assets 302,213 299,457
Capital and reserves
Called up share capital 100 100
Profit and loss account 302,113 299,357
Shareholder's funds 302,213 299,457
The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The member has not required the company to obtain an audit in accordance with section 476 of the Act.
The director acknowledges her 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.
V Powell
Director
Approved by the board on 4 September 2025
Indielab Ltd
Notes to the Accounts
for the year ended 31 December 2024
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 rendering of services. 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:
Computer equipment over 3 years straight line
Office equipment over 3 years straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price).
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.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 6 7
3 Intangible fixed assets £
Computer software
Cost
At 1 January 2024 850
At 31 December 2024 850
Amortisation
At 1 January 2024 445
Provided during the year 82
At 31 December 2024 527
Net book value
At 31 December 2024 323
At 31 December 2023 405
Computer Software is being written off in equal annual instalments over its estimated economic life of 10 years.
4 Tangible fixed assets
Office equipment Computer equipment Total
£ £ £
Cost
At 1 January 2024 7,270 11,325 18,595
Additions 1,397 2,097 3,494
At 31 December 2024 8,667 13,422 22,089
Depreciation
At 1 January 2024 6,510 8,587 15,097
Charge for the year 857 2,258 3,115
At 31 December 2024 7,367 10,845 18,212
Net book value
At 31 December 2024 1,300 2,577 3,877
At 31 December 2023 760 2,738 3,498
5 Debtors 2024 2023
£ £
Trade debtors 31,580 26,280
Directors loan account 5,740 7,678
Other debtors 1,690 49,118
39,010 83,076
6 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,584 9,584
Trade creditors 2,103 4,765
Taxation and social security costs 24,457 44,531
Other creditors 42,047 82,917
78,191 141,797
7 Creditors: amounts falling due after one year 2024 2023
£ £
Bank loans 2,920 12,342
8 Loans to directors
Description and conditions B/fwd Paid Repaid C/fwd
£ £ £ £
V Powell
Short term loan 7,678 5,740 (7,678) 5,740
7,678 5,740 (7,678) 5,740
9 Other information
Indielab Ltd is a private company limited by shares and incorporated in England. Its registered office is:
7 Savoy Court
London
England
WC2R 0EX
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