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REGISTERED NUMBER: 11116331 (United Kingdom)















Unaudited Financial Statements for the Year Ended 31 March 2023

for

NEUROGEN LIMITED

NEUROGEN LIMITED (REGISTERED NUMBER: 11116331)

Contents of the Financial Statements
for the Year Ended 31 March 2023










Page

Balance Sheet 1

Notes to the Financial Statements 3


NEUROGEN LIMITED (REGISTERED NUMBER: 11116331)

Balance Sheet
31 March 2023

2023 2022
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 11,758 16,905

CURRENT ASSETS
Stocks 45,198 32,106
Debtors 5 377,471 396,654
Cash at bank 41,087 142,096
463,756 570,856
CREDITORS
Amounts falling due within one year 6 178,631 289,778
NET CURRENT ASSETS 285,125 281,078
TOTAL ASSETS LESS CURRENT LIABILITIES 296,883 297,983

PROVISIONS FOR LIABILITIES 2,988 2,712
NET ASSETS 293,895 295,271

CAPITAL AND RESERVES
Called up share capital 8 2 2
Retained earnings 293,893 295,269
SHAREHOLDERS' FUNDS 293,895 295,271

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2023 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NEUROGEN LIMITED (REGISTERED NUMBER: 11116331)

Balance Sheet - continued
31 March 2023


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 Profit and Loss Account has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 26 September 2023 and were signed on its behalf by:





Dr R Lloyd - Director


NEUROGEN LIMITED (REGISTERED NUMBER: 11116331)

Notes to the Financial Statements
for the Year Ended 31 March 2023


1. STATUTORY INFORMATION

Neurogen Limited is a private company, limited by shares , registered in United Kingdom. The company's registered number and registered office address are as below:

Registered number: 11116331

Registered office: 4 Castleton Court Fortran Road
St Mellons
Cardiff
CF3 0LT

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.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 20% Straight line
Fixtures and fittings - 33% Straight line

Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Profit and Loss Account, 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.


NEUROGEN LIMITED (REGISTERED NUMBER: 11116331)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


2. ACCOUNTING POLICIES - continued
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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 4 (2022 - 4 ) .

4. TANGIBLE FIXED ASSETS
Fixtures
Plant and and
machinery fittings Totals
£    £    £   
COST
At 1 April 2022 28,913 10,151 39,064
Additions 2,704 1,342 4,046
Disposals (896 ) - (896 )
At 31 March 2023 30,721 11,493 42,214
DEPRECIATION
At 1 April 2022 16,732 5,427 22,159
Charge for year 6,080 2,217 8,297
At 31 March 2023 22,812 7,644 30,456
NET BOOK VALUE
At 31 March 2023 7,909 3,849 11,758
At 31 March 2022 12,181 4,724 16,905

NEUROGEN LIMITED (REGISTERED NUMBER: 11116331)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2023


5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 366,162 391,780
Other debtors 11,309 4,874
377,471 396,654

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade creditors 76,059 97,413
Taxation and social security 100,809 110,510
Other creditors 1,763 81,855
178,631 289,778

7. LEASING AGREEMENTS

Minimum lease payments under non-cancellable operating leases fall due as follows:
2023 2022
£    £   
Within one year 23,709 -
Between one and five years 32,215 -
55,924 -

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
2 Ordinary £1 2 2