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REGISTERED NUMBER: 13401417 (England and Wales)











































Neon Security Limited

Unaudited Financial Statements

for the Year Ended 31st May 2024






Neon Security Limited (Registered number: 13401417)






Contents of the Financial Statements
for the year ended 31st May 2024




Page

Company information 1

Balance sheet 2 to 3

Notes to the financial statements 4 to 7


Neon Security Limited

Company Information
for the year ended 31st May 2024







Director: Mr J Gall





Registered office: Halidon House
17D Windmill Way West
Ramparts Business Park
Berwick Upon Tweed
TD15 1TB





Registered number: 13401417 (England and Wales)





Accountants: Rennie Welch LLP
Academy House
Shedden Park Road
Kelso
Roxburghshire
TD5 7AL

Neon Security Limited (Registered number: 13401417)

Balance Sheet
31st May 2024

2024 2023
Notes £    £    £    £   
Fixed assets
Intangible assets 4 1,537 1,757
Tangible assets 5 32,572 42,169
34,109 43,926

Current assets
Debtors 6 39,478 27,455
Cash at bank 7,831 -
47,309 27,455
Creditors
Amounts falling due within one year 7 51,513 29,821
Net current liabilities (4,204 ) (2,366 )
Total assets less current liabilities 29,905 41,560

Creditors
Amounts falling due after more than one
year

8

(23,814

)

(32,943

)

Provisions for liabilities (7,163 ) (8,346 )
Net (liabilities)/assets (1,072 ) 271

Capital and reserves
Called up share capital 100 100
Retained earnings (1,172 ) 171
(1,072 ) 271

Neon Security Limited (Registered number: 13401417)

Balance Sheet - continued
31st May 2024


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31st May 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31st May 2024 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

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 Statement of income and retained earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 28th August 2024 and were signed by:





Mr J Gall - Director


Neon Security Limited (Registered number: 13401417)

Notes to the Financial Statements
for the year ended 31st May 2024

1. Statutory information

Neon Security Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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 represents the total invoice value, excluding value added tax, of sales invoiced during the year, or the fair value of services provided for amounts not invoiced at the year end.

Turnover arising from security services is recognised when the significant risks and rewards of ownership have passed to the buyer. Turnover arising from the provision of services is recognised as contract activity progresses and the right to consideration is earned. Unbilled turnover is included in debtors as amounts recoverable on contracts.

Intangible assets
Vehicle registration plate is being amortised evenly over their estimated useful life of ten years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Plant and machinery - 15% on reducing balance
Fixtures and fittings - 15% on reducing balance
Motor vehicles - 25% on reducing balance

Tangible fixed assets are stated at cost less accumulated depreciation and accumulated impairment losses.

Financial instruments
The following assets and liabilities are classified as financial instruments - directors' loans, trade debtors, receivable loans, bank overdraft and hire purchase contracts.

Hire purchase contracts are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised cost using the effective interest method.

Directors' loans (being repayable on demand), trade debtors, receivable loans and bank overdraft are measured at the undiscounted amount of the cash or other consideration expected to be paid or received.

Financial assets that are measured at amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Statement of Income and Retained Earnings.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Neon Security Limited (Registered number: 13401417)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

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.

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.

Provisions
Provisions are set up only where it is probable that a present obligation exists as a result of an event prior to the balance sheet date and that a payment will be required in settlement that can be estimated reliably. Where material, provisions are calculated on a discounted basis.

Employee benefits
Short term employee benefits, including holiday pay, are recognised as an expense in the Statement of Income and Retained Earnings in the period in which they are incurred.

Going concern
The balance sheet is currently showing a deficit of assets. The director is confident that this this situation will reverse, therefore the accounts have been prepared on a going concern basis.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

3. Employees and directors

The average number of employees during the year was 1 (2023 - 1 ) .

Neon Security Limited (Registered number: 13401417)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

4. Intangible fixed assets
Vehicle
registratio
plate
£   
Cost
At 1st June 2023
and 31st May 2024 2,197
Amortisation
At 1st June 2023 440
Amortisation for year 220
At 31st May 2024 660
Net book value
At 31st May 2024 1,537
At 31st May 2023 1,757

5. Tangible fixed assets
Fixtures
Plant and and Motor
machinery fittings vehicles Totals
£    £    £    £   
Cost
At 1st June 2023 4,816 593 45,402 50,811
Additions 613 - - 613
At 31st May 2024 5,429 593 45,402 51,424
Depreciation
At 1st June 2023 1,265 67 7,310 8,642
Charge for year 608 79 9,523 10,210
At 31st May 2024 1,873 146 16,833 18,852
Net book value
At 31st May 2024 3,556 447 28,569 32,572
At 31st May 2023 3,551 526 38,092 42,169

6. Debtors: amounts falling due within one year
2024 2023
£    £   
Trade debtors 15,678 20,562
Other debtors 23,800 6,893
39,478 27,455

Neon Security Limited (Registered number: 13401417)

Notes to the Financial Statements - continued
for the year ended 31st May 2024

7. Creditors: amounts falling due within one year
2024 2023
£    £   
Bank loans and overdrafts - 4,665
Hire purchase contracts 9,130 8,397
Taxation and social security 42,383 16,759
51,513 29,821

8. Creditors: amounts falling due after more than one year
2024 2023
£    £   
Hire purchase contracts 23,814 32,943

9. Secured debts

The following secured debts are included within creditors:

2024 2023
£    £   
Hire purchase contracts 32,944 41,340

Hire purchase contracts are secured against the assets to which they relate.

10. Director's advances, credits and guarantees

The following advances and credits to a director subsisted during the years ended 31st May 2024 and 31st May 2023:

2024 2023
£    £   
Mr J Gall
Balance outstanding at start of year 4,319 2,411
Amounts advanced 62,984 55,975
Amounts repaid (51,400 ) (54,067 )
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year 15,903 4,319

This loan is unsecured, repayable on demand and interest has been charged at the official rates published by HMRC.