REGISTERED NUMBER: 10233347 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31st December 2025

for

Westbay Labs Ltd

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTOR:

Mr Paul McGrath

REGISTERED OFFICE:

40 Bayham Road

Bristol

City of Bristol

BS4 2DR

REGISTERED NUMBER:

10233347 (England and Wales)

ACCOUNTANTS:

Dunkley's

Woodlands Grange

Woodlands Lane

Bradley Stoke

Bristol

United Kingdom

BS32 4JY

FIXED ASSETS

Tangible assets

4

241

448

Investments

5

-

77,069

241

77,517

CURRENT ASSETS

Debtors

6

-

101

Cash at bank

46,207

2,319

46,207

2,420

CREDITORS

Amounts falling due within one year

7

8,174

29,042

NET CURRENT ASSETS/(LIABILITIES)

38,033

(26,622

)

TOTAL ASSETS LESS CURRENT LIABILITIES

38,274

50,895

PROVISIONS FOR LIABILITIES

46

85

NET ASSETS

38,228

50,810

CAPITAL AND RESERVES

Called up share capital

10

1

1

Retained earnings

11

38,227

50,809

SHAREHOLDERS' FUNDS

38,228

50,810

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

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

The director acknowledges his 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 director and authorised for issue on 11th September 2026 and were signed by:

Mr Paul McGrath - Director

1.	STATUTORY INFORMATION

Westbay Labs Ltd 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.

The financial statements are presented in sterling (£), which is the functional currency of the company.

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, estimates and assumptions about the carrying amounts of assets and liabilities that are not readily apparent from other sources.

The estimates and associated assumptions are based on historical experience and other factors considered to be relevant. Actual results may differ from these estimates.

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of revision and future periods if the revision affects both current and future periods.

The following are the critical judgements and key sources of estimation uncertainty that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year:

Impairment of trade debtors - The Company makes an estimate of the recoverable value of trade and other debtors. When assessing impairment, management considers factors including the ageing profile of debtors and historical experience.

Useful economic lives of tangible fixed assets - The annual depreciation charge depends on the estimated useful lives of assets. The directors review these estimates regularly based on the current condition of the assets and expected future use.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Computer equipment

-

Straight line over 3 years

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.

Going concern

The financial statements have been prepared on a going concern basis. The directors have considered the Company's financial position and are satisfied that it has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.

Financial instruments

The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments'.

Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument.

Basic financial assets: Short-term debtors are measured at transaction price, less any impairment. Loans receivable are initially measured at transaction price (including transaction costs) and subsequently measured at amortised cost using the effective interest method, less any impairment.

Basic financial liabilities: Short-term creditors are measured at transaction price. Other financial liabilities, including bank loans and other loans, are initially measured at transaction price (including transaction costs) and subsequently measured at amortised cost using the effective interest method.

3.	EMPLOYEES AND DIRECTORS

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

4.	TANGIBLE FIXED ASSETS

Computer

equipment

£

COST

At 1st January 2025

3,218

Disposals

(599

)

At 31st December 2025

2,619

DEPRECIATION

At 1st January 2025

2,770

Charge for year

207

Eliminated on disposal

(599

)

At 31st December 2025

2,378

NET BOOK VALUE

At 31st December 2025

241

At 31st December 2024

448

5.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1st January 2025

77,069

Disposals

(77,069

)

At 31st December 2025

-

NET BOOK VALUE

At 31st December 2025

-

At 31st December 2024

77,069

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other debtors

-

101

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.25

31.12.24

£

£

Other creditors

-

1,200

Directors' current accounts

6,853

26,583

Accrued expenses

1,321

1,259

8,174

29,042

8.	LEASING AGREEMENTS

The Company had no material commitments under non-cancellable operating leases at the balance sheet date.

9.	SECURED DEBTS

The Company had no secured liabilities at the balance sheet date.

10.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

31.12.25

31.12.24

value:

£

£

2

Ordinary

£0.50

1

1

11.

RESERVES

Retained

earnings

£

At 1st January 2025

50,809

Deficit for the year

(12,582

)

At 31st December 2025

38,227

12.	CONTINGENT LIABILITIES

The Company had no contingent liabilities at the balance sheet date.

13.	RELATED PARTY DISCLOSURES

At the balance sheet date, the Company owed £6,853 (2024: £26,583) to a director. The balance is unsecured, interest-free and repayable on demand.

14.	POST BALANCE SHEET EVENTS

There have been no material events after the balance sheet date requiring disclosure in these financial statements.

15.	CASH AND CASH EQUIVALENTS

Cash comprises cash in hand and demand deposits. Cash equivalents are short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.

Cash and cash equivalents consist solely of balances held in the Company's bank current account. The Company does not hold any short-term investments and does not operate an overdraft facility.