Registered number
10768856
Neuralspark Limited
Report and Accounts
31 May 2023
Neuralspark Limited
Report to the directors on the preparation of the unaudited statutory accounts of Neuralspark Limited for the year ended 31 May 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Neuralspark Limited for the year ended 31 May 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
20 September 2023
Neuralspark Limited
Registered number: 10768856
Balance Sheet
as at 31 May 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 3,219 1,396
Current assets
Debtors 4 1,244 -
Cash at bank and in hand 49,809 33,341
51,053 33,341
Creditors: amounts falling due within one year 5 (13,866) (12,566)
Net current assets 37,187 20,775
Net assets 40,406 22,171
Capital and reserves
Called up share capital 1 1
Profit and loss account 40,405 22,170
Shareholders' funds 40,406 22,171
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N AL-SHAMMA
Director
Approved by the board on 20 September 2023
Neuralspark Limited
Notes to the Accounts
for the year ended 31 May 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 50% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2022 4,654
Additions 5,475
At 31 May 2023 10,129
Depreciation
At 1 June 2022 3,258
Charge for the year 3,652
At 31 May 2023 6,910
Net book value
At 31 May 2023 3,219
At 31 May 2022 1,396
4 Debtors 2023 2022
£ £
Trade debtors 1,244 -
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 980 -
Corporation tax 13,039 12,049
Other taxes and social security costs (701) -
Other creditors 548 517
13,866 12,566
6 Other information
Neuralspark Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Nottinghamshire
NG8 2BE
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