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REGISTERED NUMBER: 07086996 (England and Wales)















NEPTUNE SECURITY GROUP LTD

Financial Statements for the Year Ended 31 December 2023






NEPTUNE SECURITY GROUP LTD (REGISTERED NUMBER: 07086996)






Contents of the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023




Page

Company Information 1

Statement of Financial Position 2

Notes to the Financial Statements 3


NEPTUNE SECURITY GROUP LTD

Company Information
FOR THE YEAR ENDED 31 DECEMBER 2023







DIRECTOR: David Albert Montgomery





REGISTERED OFFICE: Delphian House Riverside
New Bailey Street
Manchester
Lancashire
M3 5FS





REGISTERED NUMBER: 07086996 (England and Wales)





INDEPENDENT AUDITORS: CavanaghKelly
Chartered Accountants and Statutory Auditors
36-38 Northland Row
Dungannon
Co. Tyrone
BT71 6AP

NEPTUNE SECURITY GROUP LTD (REGISTERED NUMBER: 07086996)

Statement of Financial Position
31 DECEMBER 2023

2023 2022
Notes $ $
CURRENT ASSETS
Receivables: amounts falling due within
one year

6

31,580

74,010
Cash at bank 88,991 -
120,571 74,010
PAYABLES
Amounts falling due within one year 7 (159,096 ) (31,710 )
NET CURRENT (LIABILITIES)/ASSETS (38,525 ) 42,300
TOTAL ASSETS LESS CURRENT
LIABILITIES

(38,525

)

42,300

CAPITAL AND RESERVES
Called up share capital 145 145
Share premium 43,493 43,493
Retained earnings (82,163 ) (1,338 )
(38,525 ) 42,300

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 Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 20 September 2024 and were signed by:





David Albert Montgomery - Director


NEPTUNE SECURITY GROUP LTD (REGISTERED NUMBER: 07086996)

Notes to the Financial Statements
FOR THE YEAR ENDED 31 DECEMBER 2023

1. STATUTORY INFORMATION

Neptune Security Group Ltd 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.

The presentation currency of the financial statements is Dollars ($).

2. STATEMENT OF COMPLIANCE

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.

3. ACCOUNTING POLICIES

Basis of preparing the financial statements
The accounts are prepared on a going concern basis under the historical cost convention modified
when necessary to include the revaluation of certain fixed assets. The accounting policies outlined
below have been applied consistently throughout the year.

Revenue
Revenue comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenue is recognised for the period in which assets are in use.

Property, plant and equipment
Property, plant and equipment are stated at cost or at valuation, less accumulated depreciation. The charge to depreciation is calculated to write off the original cost or valuation of property, plant and equipment, less their estimated residual value, over their expected useful lives as follows:

Plant and machinery 15% straight line
Fixtures, fittings and equipment 15% straight line
Website 10% straight line

The carrying values of property, plant and equipment are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable.

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 Statement of Financial Position date.

Foreign currencies
Monetary assets and liabilities denominated in foreign currencies are translated at the rates of exchange ruling at the Statement of Financial Position date. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated at the rates of exchange ruling at the date of the transaction. Non-monetary items that are measured at fair value in a foreign currency are translated using the exchange rates at the date when the fair value was determined. The resulting exchange differences are dealt with in the Income Statement.

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.

Cash flow statement
The company has availed of the exemption in FRS 102 Section 1A from the requirement to prepare a Statement of Cash Flows because it is classified as a small company.

NEPTUNE SECURITY GROUP LTD (REGISTERED NUMBER: 07086996)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

3. ACCOUNTING POLICIES - continued

Financial instruments
The company have chosen to adopt Sections 11 and 12 of FRS 102 in respect of financial
instruments.

(i) Financial assets

Basic financial assets, including trade and other receivables, cash and bank balances and amountsowed by related parties and are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

At the end of each reporting period financial assets measured at amortised cost are assessed for
objective evidence of impairment. If an asset is impaired the impairment loss is the difference
between the carrying amount and the present value of the estimated cash flows discounted at the
asset's original effective interest rate. The impairment loss is recognised in profit or loss.

If there is decrease in the impairment loss arising from an event occurring after the impairment
was recognised, the impairment is reversed. The reversal is such that the current carrying amount
does not exceed what the carrying amount would have been had the impairment not previously
been recognised. The impairment reversal is recognised in profit or loss.

Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset
expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset
are transferred to another party or (c) despite having retained some significant risks and rewards
of ownership, control of the asset has been transferred to another party who has the practical
ability to unilaterally sell the asset to an unrelated third party without imposing additional
restrictions.

(ii) Financial liabilities

Basic financial liabilities, including trade and other payables, bank loans and overdrafts and
amounts owed to related parties are initially recognised at transaction price, unless the
arrangement constitutes a financing transaction, where the debt instrument is measured at the
present value of the future receipts discounted at a market rate of interest. Debt instruments are
subsequently carried at amortised cost, using the effective interest rate method. Fees paid on the
establishment of loan facilities are recognised as transaction costs of the loan to the extent that it
is probable that some or all of the facility will be drawn down. In this case, the fee is deferred until
the draw-down occurs. To the extent there is no evidence that it is probable that some or all of the
facility will be drawn down, the fee is capitalised as a pre-payment for liquidity services and
amortised over the period of the facility to which it relates.

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

Financial liabilities are derecognised when the liability is extinguished, that is when the contractual
obligation is discharged, cancelled or expires.

(iii) Offsetting

Financial assets and liabilities are offset and 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

Share capital
Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new
ordinary shares or options are shown in equity as deductions, net of tax, from the proceeds.

NEPTUNE SECURITY GROUP LTD (REGISTERED NUMBER: 07086996)

Notes to the Financial Statements - continued
FOR THE YEAR ENDED 31 DECEMBER 2023

4. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 1 (2022 - NIL ) .

5. PROPERTY, PLANT AND EQUIPMENT
Fixtures
Plant and and
machinery fittings Totals
$ $ $
COST
At 1 January 2023
and 31 December 2023 825,560 81,544 907,104
DEPRECIATION
At 1 January 2023
and 31 December 2023 825,560 81,544 907,104
NET BOOK VALUE
At 31 December 2023 - - -
At 31 December 2022 - - -

6. RECEIVABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
$ $
Trade receivables 27,674 31,472
Other receivables 3,906 3,700
Amounts owed by group undertakings - 38,838
31,580 74,010

7. PAYABLES: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
$ $
Trade payables 3,282 1,942
Amounts owed to group undertakings 130,388 -
Taxation and social security 7,209 13,376
Other payables 18,217 16,392
159,096 31,710

8. DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Auditors' Report was unqualified.

Mr Ryan Falls FCA (Senior Statutory Auditor)
for and on behalf of CavanaghKelly

9. RELATED PARTY DISCLOSURES

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.