Intro Labs Ltd 31/10/2025 iXBRL

Company registration number: 15204378

Intro Labs Ltd

Trading as Sendr

Unaudited filleted financial statements

31 October 2025

Intro Labs Ltd

Contents

Directors and other information

Statement of financial position

Statement of changes in equity

Notes to the financial statements

Intro Labs Ltd

Directors and other information


	Directors	Mr David Alexander Cannell
		Mr John Haywood Bromley


	Secretary	David Alexander Cannell


	Company number	15204378


	Registered office	Third Floor, Broadwalk House
		Southernhay West
		Exeter
		EX1 1TS


	Business address	Third Floor, Boardwalk House
		Southernhay West
		Exeter
		EX1 1TS


	Accountants	Hardcastle Blake
		19 New Road
		Drayton Parslow
		Milton Keynes
		MK17 0JH

Intro Labs Ltd

Statement of financial position

31 October 2025

		2025		2024
	Note	£	£	£	£

Current assets
Debtors	5	2,417		7,584
Cash at bank and in hand		214,791		245,112
		_______		_______
		217,208		252,696
Creditors: amounts falling due
within one year	6	( 16,462)		( 27,351)
		_______		_______
Net current assets			200,746		225,345
			_______		_______
Total assets less current liabilities			200,746		225,345

Creditors: amounts falling due
after more than one year	7		( 201,499)		-
			_______		_______
Net (liabilities)/assets			( 753)		225,345
			_______		_______

Capital and reserves
Called up share capital			1,349		1,349
Share premium account			387,150		387,150
Equity component of convertible loan note			37,634		-
Profit and loss account			( 426,886)		( 163,154)
			_______		_______
Shareholders (deficit)/funds			( 753)		225,345
			_______		_______

For the year ending 31 October 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 year in question in accordance with section 476;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.

These financial statements were approved by the board of directors and authorised for issue on 05 May 2026 , and are signed on behalf of the board by:

Mr David Alexander Cannell Mr John Haywood Bromley

Director Director

Company registration number: 15204378

Intro Labs Ltd

Statement of changes in equity

Year ended 31 October 2025

	Called up share capital	Share premium account	Equity component of convertible loan note	Profit and loss account	Total
	£	£	£	£	£


At 1 November 2023	-	-	-	-	-

Loss for the year				( 163,154)	( 163,154)
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	-	( 163,154)	( 163,154)

Issue of shares	1,349	387,150			388,499
	_______	_______	_______	_______	_______
Total investments by and distributions to owners	1,349	387,150	-	-	388,499

	_______	_______	_______	_______	_______
At 31 October 2024 and 1 November 2024	1,349	387,150	-	( 163,154)	225,345

Loss for the year				( 263,732)	( 263,732)
Other comprehensive income for the year:
Equity component of convertible loan note	-	-	37,634	-	37,634
	_______	_______	_______	_______	_______
Total comprehensive income for the year	-	-	37,634	( 263,732)	( 226,098)

	_______	_______	_______	_______	_______
At 31 October 2025	1,349	387,150	37,634	( 426,886)	( 753)
	_______	_______	_______	_______	_______

Intro Labs Ltd

Notes to the financial statements

Year ended 31 October 2025

1. General information

The company is a private company limited by shares, registered in United Kingdom. The address of the registered office is Third Floor, Broadwalk House, Southernhay West, Exeter, EX1 1TS.

2. Statement of compliance

These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis.

The financial statements are prepared in sterling, which is the functional currency of the entity.

Going concern

The director's consider the company will have adequate funding in place to continue trading for 12 months from the date of signing of the financial statements. The company will be submitting a R & D tax credits claim after the year end that is anticipated to be worth circa £30,000 in a repayable credit.

Turnover

Turnover is measured at the fair value of the consideration received or receivable for services rendered, net of discounts and Value Added Tax.

When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period.

When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.

Taxation

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised 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 that are expected to apply to the reversal of the timing difference.

Research and development

Research expenditure is written off in the year in which it is incurred. Development expenditure incurred is capitalised as an intangible asset only when all of the following criteria are met: - It is technically feasible to complete the intangible asset so that it will be available for use or sale; - There is the intention to complete the intangible asset and use or sell it; - There is the ability to use or sell the intangible asset; - The use or sale of the intangible asset will generate probable future economic benefits; - There are adequate technical, financial and other resources available to complete the development and to use or sell the intangible asset; and - The expenditure attributable to the intangible asset during its development can be measured reliably. Expenditure that does not meet the above criteria is expensed as incurred.

Financial instruments

A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets or either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 2 (2024: 1 ).

5. Debtors

	2025	2024
	£	£
Other debtors	2,417	7,584
	_______	_______

6. Creditors: amounts falling due within one year

	2025	2024
	£	£
Social security and other taxes	2,673	1,643
Other creditors	13,789	25,708
	_______	_______
	16,462	27,351
	_______	_______

7. Creditors: amounts falling due after more than one year

	2025	2024
	£	£
Other creditors	201,499	-
	_______	_______

In June 2025 the company issued a convertible loan note for the sum of £250,000, with costs incurred of £10,460. The key terms are that the loan notes can be redeemed or converted at the earlier of an exit event, default event or on date of maturity. The date of maturity is 30th June 2030. Interest payable is 0% for the first 18 months; thereafter it will accrue at 6% to the date of the relevant event. At maturity the loan note can be converted to ordinary shares at the default price set in the loan note agreement.

The convertible loan note has been accounted for as per the guidance at Section 22 of FRS 102. This requires the loan note amount to be allocated between a financial liability and equity element on a discounted net present value basis using an approximate commercial interest rate, which in this case is determined at 8%. The costs of the loan note issue are deducted from the finacial liability and equity element in proportion to the amounts calculated on commencement of the loan. The resultant finance charge will be debited to the profit and loss account over the 5 year expected term of the loan .

8. Related party transactions

During the year the company entered into the following transactions with related parties:

	Transaction value		Balance owed by/(owed to)
	2025	2024	2025	2024
	£	£	£	£
Chief Growth Limited	(4,050)	4,050	-	( 4,050)
	_______	_______	_______	_______

During the previous accounting year, Chief Growth Limited (owned by Mr D Cannell - director) incurred costs of £4,050 on behalf of the company. This was repaid during the year .

9. Controlling party

The company is jointly controlled by Mr D Cannell and Mr J Bromley - directors by virtue of their share ownership and voting rights exceeding 50%