Company No: 13894984 (England and Wales)

Contents

• Company Information
• Balance Sheet
• Notes to the Financial Statements

DIRECTORS	Mr G P Dobbin
	Mr M D Farquharson
	Mr J A Smith (Appointed 07 March 2025)

REGISTERED OFFICE	Hill Dickinson LlP
	8th Floor
	The Broadgate Tower
	20 Primrose Street
	London
	EC2A
	United Kingdom

COMPANY NUMBER

13894984 (England and Wales)

ACCOUNTANT	Offshore Commercial Limited
	Fairbairn House
	Rohais
	St Peter Port
	GY1 1FE
	Guernsey

	Note	2025		2024
		£		£
Fixed assets
Tangible assets	5	3,774		975
		3,774		975
Current assets
Stocks	6	1,047,544		136,675
Debtors	7	884,031		491,445
Cash at bank and in hand	8	105,570		131,785
		2,037,145		759,905
Creditors: amounts falling due within one year	9	( 2,522,025)		( 925,596)
Net current liabilities		(484,880)		(165,691)
Total assets less current liabilities		(481,106)		(164,716)
Net liabilities		( 481,106)		( 164,716)
Capital and reserves
Called-up share capital	10	1		1
Profit and loss account		( 481,107 )		( 164,717 )
Total shareholders' deficit		( 481,106)		( 164,716)

For the financial year ending 28 February 2025 the Company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

• The members have not required the Company to obtain an audit of its financial statements for the financial year in accordance with section 476;
• The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements; and
• These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime and a copy of the Profit and Loss Account has not been delivered.

The financial statements of 4C LABS LTD (registered number: 13894984) were approved and authorised for issue by the Board of Directors on 30 November 2025. They were signed on its behalf by:

Mr G P Dobbin Director

1. Accounting policies

The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.

General information and basis of accounting

4C Labs Ltd (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is Hill Dickinson LLP, 8th Floor, The Broadgate Tower, 20 Primrose Street, London, EC2A, United Kingdom.

The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.

The financial statements are presented in pounds sterling and are rounded to the nearest £.

Going concern

The ability of the company to meet its financial liabilities as they fall due relies on the continued support of the parent company, 4C Labs Ltd (a company registered in Canada), which has access to an appropriate credit facility. Assurances have been received that such support will continue for the foreseeable future, so the going concern basis is therefore considered to be appropriate in preparing these financial statements.

Foreign currency

Transactions in foreign currencies are recorded at the rate of exchange at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies at the Balance Sheet date are reported at the rates of exchange prevailing at that date.

Exchange differences are recognised in the Profit and Loss Account in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.

Turnover

Turnover is stated net of VAT and trade discounts and is recognised when the significant risks and rewards are considered to have been transferred to the buyer. Turnover from the sale of goods is recognised when the goods are physically delivered to the customer.

Taxation

Current tax
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the balance sheet date.

Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.

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 future taxable profits.

Tangible fixed assets

Tangible fixed assets are stated at cost or valuation, net of depreciation and any provision for impairment. Depreciation is provided on all tangible fixed assets, other than investment property and freehold land, at rates calculated to write off the cost or valuation, less estimated residual value, of each asset on a straight-line or reducing balance basis over its expected useful life, as follows:

Plant and machinery etc.

4 years straight line

Residual value represents the estimated amount which would currently be obtained from disposal of an asset, after deducting estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life.

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to sell, which is equivalent to the net realisable value. Cost includes materials, direct labour and an attributable proportion of manufacturing overheads based on normal levels of activity. Cost is calculated using the FIFO (first-in, first-out) method. Provision is made for obsolete, slow-moving or defective items where appropriate.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

Related party exemption

The company has taken advantage of the exemption, under the terms of the Financial Reporting Standard 102 Section 1A (paragraph 1AC.35), not to disclose related party transactions entered into between two or more members of a group, provided that any subsidiary which is a party to the transaction is wholly-owned by such a member.

2. Critical accounting judgements and key sources of estimation uncertainty

In the application of the Company’s accounting policies, the directors are required to make judgements that have a significant impact on the amounts recognised. The following are the critical judgements that the directors have made in the process of applying the Company’s accounting policies and that have the most significant effect on the amounts recognised in the financial statements.

- Valuation of finished goods (stock)
- Valuation of work-in-progress (stock)

3. Employees

	2025		2024
	Number		Number
Monthly average number of persons employed by the Company during the year, including directors	4		0

4. Dividends on equity shares

No dividends have been declared or paid in the current or previous periods.

5. Tangible assets

	Plant and machinery etc.		Total
	£		£
Cost
At 01 March 2024	1,300		1,300
Additions	3,148		3,148
At 28 February 2025	4,448		4,448
Accumulated depreciation
At 01 March 2024	325		325
Charge for the financial year	349		349
At 28 February 2025	674		674
Net book value
At 28 February 2025	3,774		3,774
At 29 February 2024	975		975

6. Stocks

	2025		2024
	£		£
Stocks	1,047,544		136,675

7. Debtors

	2025		2024
	£		£
Trade debtors	817,015		456,208
Amounts owed by Group undertakings	7,982		6,482
Other debtors	59,034		28,755
	884,031		491,445

8. Cash and cash equivalents

	2025		2024
	£		£
Cash at bank and in hand	105,570		131,785

9. Creditors: amounts falling due within one year

	2025		2024
	£		£
Trade creditors	518,833		28,799
Amounts owed to Group undertakings	1,805,417		817,313
Other taxation and social security	195,619		66,719
Other creditors	2,156		12,765
	2,522,025		925,596

10. Called-up share capital

	2025		2024
	£		£
Allotted, called-up and fully-paid
1 Ordinary share of £ 1.00	1		1

11. Related party transactions

At the balance sheet date, the company owed its parent undertaking £1,805,417 (2024: £817,313).

At the balance sheet date, the company was due £1,950 (2024: £1,200) from 4C Labs Cultivation GSY Ltd and £6,032 (2024: £5,282) from 4C Labs Gsy Ltd, which are both fellow group undertakings.

12. Ultimate controlling party

4C Labs Ltd is a subsidiary of 4C Labs Ltd, a company incorporated in Canada with registered office 365 Bay Street, Suite 800, Toronto, M5H 2V1, Canada.