Lab Furniture Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—6

Registered number: 11429094

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		225,544		221,349

			225,544		221,349
CURRENT ASSETS
Stocks	5	221,994		168,994
Debtors	6	177,578		254,272
Cash at bank and in hand		22,848		42,733

		422,420		465,999
Creditors: Amounts Falling Due Within One Year	7	(252,611 )		(135,234 )

NET CURRENT ASSETS (LIABILITIES)			169,809		330,765

TOTAL ASSETS LESS CURRENT LIABILITIES			395,353		552,114

Creditors: Amounts Falling Due After More Than One Year	8		(987,351 )		(850,781 )

NET LIABILITIES			(591,998 )		(298,667 )

CAPITAL AND RESERVES
Called up share capital	10		200,000		200,000
Profit and Loss Account			(791,998 )		(498,667 )

SHAREHOLDERS' FUNDS			(591,998)		(298,667)

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Lab Furniture Limited

Balance Sheet (continued)

As At 30 November 2025

For the year ending 30 November 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

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

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Geoffrey Lound

Director

21 August 2026

The notes on pages 3 to 6 form part of these financial statements.

1. General Information

Lab Furniture Limited is a private company, limited by shares, incorporated in England & Wales, registered number 11429094 . The registered office is Lab Furniture, West Carr Lane, Hull, HU7 0AW.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. 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 sale of goods and from the rendering of services. Turnover is reduced for estimated customer returns, rebates and other similar allowances.

Sale of goods

Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.

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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Leasehold improvements	10% straight line
Plant & Machinery	20% straight line
Motor Vehicles	20% straight line
Computer Equipment	20% straight line

2.4. Leasing and Hire Purchase Contracts

Assets obtained under finance leases are capitalised as tangible fixed assets. Assets acquired under finance leases are depreciated over the shorter of the lease term and their useful lives. Assets acquired under hire purchase contracts are depreciated over their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in the creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.

Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged to the profit and loss account as incurred.

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Lab Furniture Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

2.5. Stocks and Work in Progress

Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 18 (2024: 18)

4. Tangible Assets

	Land & Property
	Leasehold improvements	Plant & Machinery	Motor Vehicles	Computer Equipment	Total
	£	£	£	£	£
Cost
As at 1 December 2024	114,265	191,647	11,567	15,452	332,931
Additions	56,948	417	-	208	57,573

As at 30 November 2025	171,213	192,064	11,567	15,660	390,504

Depreciation
As at 1 December 2024	7,426	86,405	6,939	10,812	111,582
Provided during the period	17,121	31,883	2,316	2,058	53,378

As at 30 November 2025	24,547	118,288	9,255	12,870	164,960

Net Book Value
As at 30 November 2025	146,666	73,776	2,312	2,790	225,544

As at 1 December 2024	106,839	105,242	4,628	4,640	221,349

5. Stocks

	2025	2024
	£	£
Stock	26,778	26,778
Work in progress	195,216	142,216

	221,994	168,994

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Lab Furniture Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

6. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	131,808	183,430
Prepayments and accrued income	6,103	9,874
Other debtors	37,669	50,428
VAT	1,998	10,540

	177,578	254,272

7. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	23,624	21,813
Trade creditors	130,606	74,643
Bank loans and overdrafts	5,556	5,556
Other loans	23,523	-
Other taxes and social security	21,812	31,642
Other creditors	1,815	730
Accruals and deferred income	45,675	850

	252,611	135,234

8. Creditors: Amounts Falling Due After More Than One Year

	2025	2024
	£	£
Net obligations under finance lease and hire purchase contracts	18,555	42,179
Bank loans	19,444	24,852
Other loans	54,352	-
Other creditors	895,000	783,750

	987,351	850,781

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Lab Furniture Limited

Notes to the Financial Statements (continued)

For The Year Ended 30 November 2025

9. Obligations Under Finance Leases and Hire Purchase

	2025	2024
	£	£
The future minimum finance lease payments are as follows:
Not later than one year	23,624	21,813
Later than one year and not later than five years	18,555	42,179

	42,179	63,992

	42,179	63,992

10. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	200,000	200,000

11. Related Party Transactions

The total amount owing to SWL Finance at the year end was £785,000 (2024: £575,000) which is secured by way of a fixed and floating charge over the company assets.

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