REGISTERED NUMBER: 07350816 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

LAB 194 LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

J D Savage

I J Stapleton

REGISTERED OFFICE:

194b Abbey Lane

Sheffield

South Yorkshire

S8 0BQ

REGISTERED NUMBER:

07350816 (England and Wales)

ACCOUNTANTS:

Jones Francis Limited

400-402 Richmond Road

Sheffield

South Yorkshire

S13 8LZ

FIXED ASSETS

Intangible assets

4

-

-

Tangible assets

5

100,345

124,347

100,345

124,347

CURRENT ASSETS

Stocks

20,000

20,000

Debtors

6

135,203

213,369

Cash at bank and in hand

1,284,940

1,244,834

1,440,143

1,478,203

CREDITORS

Amounts falling due within one year

7

172,926

203,662

NET CURRENT ASSETS

1,267,217

1,274,541

TOTAL ASSETS LESS CURRENT LIABILITIES

1,367,562

1,398,888

CREDITORS

Amounts falling due after more than one year

8

(62,424

)

(84,236

)

PROVISIONS FOR LIABILITIES

(24,816

)

(30,758

)

NET ASSETS

1,280,322

1,283,894

CAPITAL AND RESERVES

Called up share capital

11

80

80

Retained earnings

1,280,242

1,283,814

SHAREHOLDERS' FUNDS

1,280,322

1,283,894

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Board of Directors and authorised for issue on 16 December 2025 and were signed on its behalf by:

I J Stapleton - Director

1.	STATUTORY INFORMATION

Lab 194 Limited 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.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2011, is being amortised evenly over its estimated useful life of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life or, if held under a finance lease, over the lease term, whichever is the shorter.

Plant and machinery

-

20% on cost

Fixtures and fittings

-

15% on cost

Motor vehicles

-

25% on reducing balance

Computer equipment

-

33% on cost

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

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.

Hire purchase and leasing commitments

Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2024 - 9 ) .

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 April 2024

and 31 March 2025

160,000

AMORTISATION

At 1 April 2024

and 31 March 2025

160,000

NET BOOK VALUE

At 31 March 2025

-

At 31 March 2024

-

5.	TANGIBLE FIXED ASSETS

Fixtures

Plant and

and

Motor

Computer

machinery

fittings

vehicles

equipment

Totals

£

£

£

£

£

COST

At 1 April 2024

240,351

21,235

134,454

7,250

403,290

Additions

8,543

714

-

-

9,257

At 31 March 2025

248,894

21,949

134,454

7,250

412,547

DEPRECIATION

At 1 April 2024

197,471

19,448

55,221

6,803

278,943

Charge for year

12,324

680

19,808

447

33,259

At 31 March 2025

209,795

20,128

75,029

7,250

312,202

NET BOOK VALUE

At 31 March 2025

39,099

1,821

59,425

-

100,345

At 31 March 2024

42,880

1,787

79,233

447

124,347

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Plant and

Motor

machinery

vehicles

Totals

£

£

£

COST

At 1 April 2024

and 31 March 2025

19,303

134,454

153,757

DEPRECIATION

At 1 April 2024

3,377

55,221

58,598

Charge for year

3,860

19,808

23,668

At 31 March 2025

7,237

75,029

82,266

NET BOOK VALUE

At 31 March 2025

12,066

59,425

71,491

At 31 March 2024

15,926

79,233

95,159

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Trade debtors

111,107

184,356

Other debtors

24,096

29,013

135,203

213,369

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 9)

21,811

21,811

Trade creditors

20,204

30,074

Taxation and social security

114,476

133,139

Other creditors

16,435

18,638

172,926

203,662

8.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.3.25

31.3.24

£

£

Hire purchase contracts (see note 9)

62,424

84,236

9.	LEASING AGREEMENTS

Minimum lease payments under hire purchase fall due as follows:

31.3.25

31.3.24

£

£

Net obligations repayable:

Within one year

21,811

21,811

Between one and five years

62,424

84,236

84,235

106,047

10.	SECURED DEBTS

The following secured debts are included within creditors:

31.3.25

31.3.24

£

£

Hire purchase contracts

84,235

106,047

11.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.3.25

31.3.24

value:

£

£

80

Ordinary

£1

80

80

12.	DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 31 March 2025 and 31 March 2024:

31.3.25

31.3.24

£

£

J D Savage

Balance outstanding at start of year

18,583

32,089

Amounts repaid

(4,916

)

(13,506

)

Amounts written off

-

-

Amounts waived

-

-

Balance outstanding at end of year

13,667

18,583

13.	ULTIMATE CONTROLLING PARTY

The company is controlled by the directors who hold 100% of the issued share capital.