Company registration number:
12200885
Neuromed Limited
Unaudited filleted financial statements
31 March 2022
Neuromed Limited
Contents
Directors and other information
Statement of financial position
Notes to the financial statements
Neuromed Limited
Directors and other information
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Directors |
Mr M Shaw |
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Mr M McCarty |
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Dr J Briffa |
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Company number |
12200885 |
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Registered office |
The Genesis Centre |
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Innovation Way |
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Stoke on Trent |
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Staffordshire |
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ST6 4BF |
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Business address |
The Genesis Centre |
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Innovation Way |
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Stoke on Trent |
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Staffordshire |
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ST6 4BF |
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Accountants |
Jacksons |
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Chartered Accountants |
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Deansfield House |
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98 Lancaster Road |
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Newcastle under Lyme |
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Staffordshire |
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ST5 1DS |
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Neuromed Limited
Statement of financial position
31 March 2022
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2022 |
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2021 |
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Note |
£ |
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£ |
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£ |
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£ |
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Current assets |
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Stocks |
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16,744 |
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14,813 |
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Debtors |
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5 |
3,978 |
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2,850 |
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Cash at bank and in hand |
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20,540 |
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9,081 |
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_______ |
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_______ |
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41,262 |
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26,744 |
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Creditors: amounts falling due |
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within one year |
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6 |
(
11,350) |
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(
6,296) |
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_______ |
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_______ |
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Net current assets |
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29,912 |
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20,448 |
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_______ |
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Total assets less current liabilities |
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29,912 |
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20,448 |
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Creditors: amounts falling due |
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after more than one year |
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7 |
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(
14,997) |
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(
14,997) |
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_______ |
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Net assets |
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14,915 |
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5,451 |
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_______ |
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_______ |
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Capital and reserves |
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Called up share capital |
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3 |
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3 |
Profit and loss account |
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14,912 |
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5,448 |
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_______ |
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Shareholders funds |
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14,915 |
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5,451 |
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_______ |
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_______ |
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For the year ending 31 March 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
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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;
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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 income and retained earnings has not been delivered.
These financial statements were approved by the
board of directors
and authorised for issue on
12 August 2022
, and are signed on behalf of the board by:
Mr M Shaw
Director
Company registration number:
12200885
Neuromed Limited
Notes to the financial statements
Year ended 31 March 2022
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is Neuromed Limited, The Genesis Centre, Innovation Way, Stoke on Trent, Staffordshire, ST6 4BF.
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, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax.
Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
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.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
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.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to Nil (2021: Nil).
5.
Debtors
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2022 |
2021 |
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£ |
£ |
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Trade debtors |
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3,852 |
2,648 |
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Other debtors |
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126 |
202 |
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_______ |
_______ |
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3,978 |
2,850 |
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_______ |
_______ |
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6.
Creditors: amounts falling due within one year
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2022 |
2021 |
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£ |
£ |
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Trade creditors |
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8,580 |
4,447 |
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Corporation tax |
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2,220 |
1,349 |
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Other creditors |
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550 |
500 |
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_______ |
_______ |
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11,350 |
6,296 |
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_______ |
_______ |
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7.
Creditors: amounts falling due after more than one year
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2022 |
2021 |
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£ |
£ |
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Other creditors |
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14,997 |
14,997 |
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_______ |
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8.
Events after the end of the reporting period
The directors have considered the impact of the COVID-19 crisis on the business operations and the impact on the financial performance of the company.The directors believe that the company is well placed to manage its business risks despite theuncertain economic outlook.
9.
Related party transactions
Mr M Shaw
, Mr M McCarty
and Dr J Briffa
are related parties by virtue or their directorship of and shareholding in the company
. Mr M Shaw
has provided the company with an interest free loan such that at the year end the company owed the sum of £4,999 (2021 : £4,999).Mr M McCarty has provided the company with an interest free loan such that at the year end the company owed the sum of £4,999 (2021 : £4,999).Dr J Briffa has provided the company with an interest free loan such that at the year end the company owed the sum of £4,999 (2021 : £4,999).During the year, Neuromed Limited
made sales to WFBM Healthcare Limited, a company in which Mr M Shaw and Mr M McCarty are also directors, during the year totalling £27,958 (2021 : £27,136).
10.
Controlling party
No one party controls the company.