Caseware UK (AP4) 2023.0.135 2023.0.135 2023-12-312023-12-31truefalsetrue2023-01-01No description of principal activity37The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 03609233 2023-01-01 2023-12-31 03609233 2022-01-01 2022-12-31 03609233 2023-12-31 03609233 2022-12-31 03609233 c:Director1 2023-01-01 2023-12-31 03609233 d:Buildings 2023-01-01 2023-12-31 03609233 d:Buildings 2023-12-31 03609233 d:Buildings 2022-12-31 03609233 d:Buildings d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03609233 d:Buildings d:ShortLeaseholdAssets 2023-01-01 2023-12-31 03609233 d:PlantMachinery 2023-01-01 2023-12-31 03609233 d:MotorVehicles 2023-01-01 2023-12-31 03609233 d:FurnitureFittings 2023-01-01 2023-12-31 03609233 d:OfficeEquipment 2023-01-01 2023-12-31 03609233 d:ComputerEquipment 2023-01-01 2023-12-31 03609233 d:OtherPropertyPlantEquipment 2023-01-01 2023-12-31 03609233 d:OtherPropertyPlantEquipment 2023-12-31 03609233 d:OtherPropertyPlantEquipment 2022-12-31 03609233 d:OtherPropertyPlantEquipment d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03609233 d:OwnedOrFreeholdAssets 2023-01-01 2023-12-31 03609233 d:CurrentFinancialInstruments 2023-12-31 03609233 d:CurrentFinancialInstruments 2022-12-31 03609233 d:Non-currentFinancialInstruments 2023-12-31 03609233 d:Non-currentFinancialInstruments 2022-12-31 03609233 d:CurrentFinancialInstruments d:WithinOneYear 2023-12-31 03609233 d:CurrentFinancialInstruments d:WithinOneYear 2022-12-31 03609233 d:Non-currentFinancialInstruments d:AfterOneYear 2023-12-31 03609233 d:Non-currentFinancialInstruments d:AfterOneYear 2022-12-31 03609233 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2023-12-31 03609233 d:Non-currentFinancialInstruments d:BetweenOneTwoYears 2022-12-31 03609233 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2023-12-31 03609233 d:Non-currentFinancialInstruments d:BetweenTwoFiveYears 2022-12-31 03609233 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2023-12-31 03609233 d:Non-currentFinancialInstruments d:MoreThanFiveYears 2022-12-31 03609233 d:ShareCapital 2023-12-31 03609233 d:ShareCapital 2022-12-31 03609233 d:RetainedEarningsAccumulatedLosses 2023-12-31 03609233 d:RetainedEarningsAccumulatedLosses 2022-12-31 03609233 c:FRS102 2023-01-01 2023-12-31 03609233 c:AuditExempt-NoAccountantsReport 2023-01-01 2023-12-31 03609233 c:FullAccounts 2023-01-01 2023-12-31 03609233 c:PrivateLimitedCompanyLtd 2023-01-01 2023-12-31 03609233 2 2023-01-01 2023-12-31 03609233 6 2023-01-01 2023-12-31 03609233 e:PoundSterling 2023-01-01 2023-12-31 iso4217:GBP xbrli:pure

Registered number: 03609233










NEEM BIOTECH LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2023

 
NEEM BIOTECH LTD
REGISTERED NUMBER: 03609233

STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2023

2023
2022
Note
£
£

Fixed assets
  

Tangible assets
 4 
26,256
179,953

  
26,256
179,953

Current assets
  

Stocks
 5 
119
273

Debtors: amounts falling due after more than one year
 6 
429,713
-

Debtors: amounts falling due within one year
 6 
2,539,305
2,862,633

Cash at bank and in hand
  
13,613
48,305

  
2,982,750
2,911,211

Creditors: amounts falling due within one year
 7 
(99,679)
(1,382,620)

Net current assets
  
 
 
2,883,071
 
 
1,528,591

Total assets less current liabilities
  
2,909,327
1,708,544

Creditors: amounts falling due after more than one year
 8 
(1,144,531)
(47,832)

  

Net assets
  
1,764,796
1,660,712


Capital and reserves
  

Called up share capital 
  
6,000,000
6,000,000

Profit and loss account
  
(4,235,204)
(4,339,288)

  
1,764,796
1,660,712


Page 1

 
NEEM BIOTECH LTD
REGISTERED NUMBER: 03609233
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 DECEMBER 2023

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 10 April 2024.




T C Hafner
Director

The notes on pages 3 to 12 form part of these financial statements.

Page 2

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies

 
1.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgment in applying the Company's accounting policies.

The company has taken advantage of the exemption under section 399 of the Companies Act 2006 not to prepare consolidated accounts, on the basis that the group of which this is the parent qualifies as a small group.  The financial statements present information about the company as an individual entity and not about it's group.  

The following principal accounting policies have been applied:

 
1.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
1.3

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Page 3

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)


1.3
Tangible fixed assets (continued)

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Improvements to S/Term Leasehold Property
-
10%
straight line
Plant and machinery pre June 2015
-
25%
straight line
Plant and machinery post June 2015
-
15%
straight line
Fixtures and fittings pre June 2015
-
25%
straight line
Fixtures & fitting post June 2015
-
20%
straight line
Office equipment
-
25%
straight line

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

 
1.4

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
1.5

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
1.6

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads.
At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
1.7

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

Page 4

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.8

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
1.9

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
1.10

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of income and retained earnings within 'finance income or costs'. All other foreign exchange gains and losses are presented in profit or loss within 'other operating income'.

 
1.11

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of financial position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are
Page 5

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)


1.11
Financial instruments (continued)

initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.

 
1.12

Government grants

Grants are accounted under the accruals model as permitted by FRS 102. Grants relating to expenditure on tangible fixed assets are credited to profit or loss at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.
Grants of a revenue nature are recognised in the Statement of income and retained earnings in the same period as the related expenditure.



Page 6

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

1.Accounting policies (continued)

 
1.13

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
1.14

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
1.15

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.


2.


General information

Neem Biotech Ltd is a private company, limited by shares and registered in Wales.
Its registered number is 03609233.
Its Registered office is :
Units G-H
Roseheyworth Business Park
Abertillery
Blaenau Gwent
NP13 1SX


3.


Employees

The average monthly number of employees, including directors, during the year was 3 (2022 - 7).

Page 7

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

4.


Tangible fixed assets





Improvements to Short term leasehold
Other fixed assets
Total

£
£
£



Cost or valuation


At 1 January 2023
354,759
939,478
1,294,237


Disposals
(354,759)
(570,631)
(925,390)



At 31 December 2023

-
368,847
368,847



Depreciation


At 1 January 2023
266,849
847,434
1,114,283


Charge for the year on owned assets
-
31,730
31,730


Disposals
(266,849)
(536,573)
(803,422)



At 31 December 2023

-
342,591
342,591



Net book value



At 31 December 2023
-
26,256
26,256



At 31 December 2022
87,910
92,043
179,953

Page 8

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

5.


Stocks

2023
2022
£
£

Finished goods and goods for resale
119
273

119
273



6.


Debtors

2023
2022
£
£

Due after more than one year

Due from connected companies
429,713
-

429,713
-


2023
2022
£
£

Due within one year

Trade debtors
30,000
39,018

Amounts owed by connected companies
2,501,626
2,803,062

Other debtors
814
-

Prepayments and accrued income
6,865
20,553

2,539,305
2,862,633


Page 9

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

7.


Creditors: Amounts falling due within one year

2023
2022
£
£

Bank loans
5,882
5,882

Trade creditors
41,624
98,355

Amounts owed to connected companies
-
381,762

Other taxation and social security
3,543
20,608

Other creditors
3,241
736,229

Accruals and deferred income
45,389
139,784

99,679
1,382,620


The Company received a Bounce Back Loan from HSBC in 2020.  The loan has a term of 10 years.  The interest rate on the loan is 2.5%.  


8.


Creditors: Amounts falling due after more than one year

2023
2022
£
£

Bank loans
33,315
38,878

Amounts owed to connected companies
376,533
-

Other creditors
732,183
2,704

Accruals and deferred income
2,500
6,250

1,144,531
47,832


The Company received a Bounce Back Loan from HSBC in 2020.  The loan has a term of 10 years.  The interest rate on the loan is 2.5%.  

Page 10

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

9.


Loans


Analysis of the maturity of loans is given below:


2023
2022
£
£

Amounts falling due within one year

Bank loans
5,882
5,882


5,882
5,882

Amounts falling due 1-2 years

Bank loans
5,882
5,882


5,882
5,882

Amounts falling due 2-5 years

Bank loans
17,647
17,647


17,647
17,647

Amounts falling due after more than 5 years

Bank loans
9,786
15,348

9,786
15,348

39,197
44,759


Page 11

 
NEEM BIOTECH LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2023

10.


Pension commitments

The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the Company in an independently administered fund. The pension cost charge represents contributions payable by the Company to the fund and amounted to £6,651 (2022 - £12,865). Contributions totalling £627 (2022 - £1,947) were payable to the fund at the reporting date.


11.


Controlling party

The immediate parent company at the year end was Zaluvida Ventures Limited, their registered office is  Invision House, Wilbury Way, Hitchin, Hertfordshire, SG4 0TY.
The ultimate parent company at the year end was Lemontree Holdings AG, a company registered in Liechtenstein, their registered office is c/o Concordanz Anstalt, Austrasse 42, 9490 Vaduz, Liechtenstein.
The ultimate parent undertaking at the year end was CTL Familienstiftung, a Trust registered in Liechtenstein, their registered office is Feldkircher Strasse 15, 9494 Schaan, Liechtenstein.
The ultimate beneficial owner is Dr H Schwärzler.

 
Page 12