1 January 2023 false Taxfiler 2024.5 true 09324936business:PrivateLimitedCompanyLtd2023-01-012023-12-31 093249362022-12-31 093249362023-01-012023-12-31 09324936business:AuditExemptWithAccountantsReport2023-01-012023-12-31 09324936business:FilletedAccounts2023-01-012023-12-31 093249362023-12-31 093249362022-12-31 09324936core:WithinOneYear2023-12-31 09324936core:WithinOneYear2022-12-31 09324936core:ShareCapitalcore:PreviouslyStatedAmount2023-12-31 09324936core:ShareCapitalcore:PreviouslyStatedAmount2022-12-31 09324936core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2023-12-31 09324936core:RetainedEarningsAccumulatedLossescore:PreviouslyStatedAmount2022-12-31 09324936core:PreviouslyStatedAmount2023-12-31 09324936core:PreviouslyStatedAmount2022-12-31 09324936business:SmallEntities2023-01-012023-12-31 09324936business:Director12023-01-012023-12-31 09324936countries:England2023-01-012023-12-31 09324936business:RegisteredOffice2023-01-012023-12-31 09324936core:MotorVehicles2023-01-012023-12-31 09324936core:FurnitureFittings2023-01-012023-12-31 09324936core:MotorVehicles2022-12-31 09324936core:FurnitureFittings2022-12-31 09324936core:MotorVehicles2023-12-31 09324936core:FurnitureFittings2023-12-31 09324936business:OrdinaryShareClass12023-01-012023-12-31 09324936business:OrdinaryShareClass12022-01-012022-12-31 093249362022-01-012022-12-31 iso4217:GBP xbrli:shares xbrli:pure
Company Registration No. 09324936 (England)
Neptune Group Service Company Limited Unaudited accounts for the year ended 31 December 2023
Neptune Group Service Company Limited Statement of financial position as at 31 December 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Tangible assets
298,376 
376,901 
Current assets
Debtors
1,532,326 
1,214,794 
Cash at bank and in hand
6,263 
471,824 
1,538,589 
1,686,618 
Creditors: amounts falling due within one year
(1,193,382)
(1,313,406)
Net current assets
345,207 
373,212 
Net assets
643,583 
750,113 
Capital and reserves
Called up share capital
10 
10 
Profit and loss account
643,573 
750,103 
Shareholders' funds
643,583 
750,113 
For the year ending 31 December 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies. The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 5 September 2024 and were signed on its behalf by
Creighton Boyd Director Company Registration No. 09324936
- 2 -
Neptune Group Service Company Limited Notes to the Accounts for the year ended 31 December 2023
1
Statutory information
Neptune Group Service Company Limited is a private company, limited by shares, registered in England, registration number 09324936. The registered office is 14 Holywell Row, London, EC2A 4JB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
These accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies.
Presentation currency
The accounts are presented in £ sterling.
Going concern
Having reviewed the resources available, the directors believe that Neptune Group Service Company Limited has adequate resources available to enable it to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
Motor vehicles
20% Reducing balance
Fixtures & fittings
10 - 20% Straight line
Trade and other debtors
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
- 3 -
Neptune Group Service Company Limited Notes to the Accounts for the year ended 31 December 2023
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
Pension costs
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Motor vehicles 
Fixtures & fittings 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 January 2023
7,166 
864,298 
871,464 
Additions
- 
2,888 
2,888 
At 31 December 2023
7,166 
867,186 
874,352 
Depreciation
At 1 January 2023
5,487 
489,076 
494,563 
Charge for the year
336 
81,077 
81,413 
At 31 December 2023
5,823 
570,153 
575,976 
Net book value
At 31 December 2023
1,343 
297,033 
298,376 
At 31 December 2022
1,679 
375,222 
376,901 
5
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Trade debtors
140 
115 
Amounts due from group undertakings etc.
1,161,635 
231,505 
Accrued income and prepayments
370,551 
983,174 
1,532,326 
1,214,794 
6
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Trade creditors
16,589 
17,579 
Amounts owed to group undertakings and other participating interests
1,086,408 
1,202,291 
Taxes and social security
27,751 
37,265 
Other creditors
2,755 
2,389 
Accruals
59,879 
53,882 
1,193,382 
1,313,406 
7
Share capital
2023 
2022 
£ 
£ 
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10 
10 
- 4 -
Neptune Group Service Company Limited Notes to the Accounts for the year ended 31 December 2023
8
Transactions with related parties
Included within debtors are amounts due from connected companies of £1,161,635 (2022: £231,505). Accrued income and prepayments amounting to £350,000 is due from connected companies (2022: £959,200). Included within creditors are amounts due to connected companies of £1,086,408 (2022: £1,202,291). All amounts are interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 9 (2022: 9).
- 5 -