Company Registration No. 09873446 (England and Wales)
Prospective Labs Ltd
Unaudited accounts
for the year ended 30 November 2017
Prospective Labs Ltd
Unaudited accounts
Contents
Prospective Labs Ltd
Company Information
for the year ended 30 November 2017
Directors
John Michael Batty CBE
Peter Alexander Ferguson
Camilo Andres Vargas Ruiz
Sir Alan Geoffrey Wilson
Company Number
09873446 (England and Wales)
Registered Office
IDEALONDON
69 WILSON STREET
LONDON
EC2A 2BB
ENGLAND
Accountants
Braant Accountants
20 to 22 Wenlock Road
London
N1 7GU
Prospective Labs Ltd
Statement of financial position
as at 30 November 2017
Tangible assets
2,758
4,109
Inventories
157,080
136,404
Cash at bank and in hand
186,489
99,309
Creditors: amounts falling due within one year
(185,310)
(124,041)
Net current assets
200,059
111,672
Total assets less current liabilities
202,817
115,781
Creditors: amounts falling due after more than one year
(117,363)
(117,363)
Net assets/(liabilities)
85,454
(1,582)
Called up share capital
2
2
Profit and loss account
85,452
(1,584)
Shareholders' funds
85,454
(1,582)
For the year ending 30 November 2017 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
Approved by the Board on 24 August 2018.
Peter Alexander Ferguson
Director
Company Registration No. 09873446
Prospective Labs Ltd
Notes to the Accounts
for the year ended 30 November 2017
Prospective Labs Ltd is a private company, limited by shares, registered in England and Wales, registration number 09873446. The registered office is IDEALONDON, 69 WILSON STREET, LONDON, EC2A 2BB, ENGLAND.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
These financial statements for the year ended 30 November 2017 are the first financial statements that comply with FRS 102 Section 1A Small Entities. The date of transition is 16 November 2015.
The transition to FRS 102 Section 1A Small Entities has resulted in a small number of changes in accounting policies to those used previously.
The nature of these changes and their impact on opening equity and profit for the comparative period are explained in the notes below.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Turnover represents the value, net of VAT and discounts, of goods provided to customers and work carried out in respect of services provided to customers.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
Over the life of the IUK contract
Work in progress is valued at anticipated invoice value in accordance with the IUK contract
Prospective Labs Ltd
Notes to the Accounts
for the year ended 30 November 2017
4
Tangible fixed assets
Plant & machinery
At 30 November 2017
10,732
Work in progress
157,080
136,404
7
Creditors: amounts falling due within one year
2017
2016
Taxes and social security
134,178
40,727
Other creditors
51,132
83,314
8
Creditors: amounts falling due after more than one year
2017
2016
Other creditors
117,363
117,363
9
Average number of employees
During the year the average number of employees was 6 (2016: 6).
