Registered number
10768856
Neuralspark Limited
Report and Accounts
31 May 2024
Neuralspark Limited
Report to the directors on the preparation of the unaudited statutory accounts of Neuralspark Limited for the year ended 31 May 2024
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Neuralspark Limited for the year ended 31 May 2024 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company’s accounting records and from information and explanations you have given us.
As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at
http://rulebook.accaglobal.com/
Our work has been undertaken in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163.
Coalesco Accountants Limited
Chartered Certified Accountants
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
30 September 2024
Neuralspark Limited
Registered number: 10768856
Balance Sheet
as at 31 May 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 3,510 3,219
Current assets
Debtors 4 - 1,244
Cash at bank and in hand 72,585 49,809
72,585 51,053
Creditors: amounts falling due within one year 5 (21,332) (13,866)
Net current assets 51,253 37,187
Net assets 54,763 40,406
Capital and reserves
Called up share capital 1 1
Profit and loss account 54,762 40,405
Shareholders' funds 54,763 40,406
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
N AL-SHAMMA
Director
Approved by the board on 30 September 2024
Neuralspark Limited
Notes to the Accounts
for the year ended 31 May 2024
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 50% straight line
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 2 1
3 Tangible fixed assets
Plant and machinery etc
£
Cost
At 1 June 2023 10,129
Additions 2,759
At 31 May 2024 12,888
Depreciation
At 1 June 2023 6,910
Charge for the year 2,468
At 31 May 2024 9,378
Net book value
At 31 May 2024 3,510
At 31 May 2023 3,219
4 Debtors 2024 2023
£ £
Trade debtors - 1,244
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 333 980
Corporation tax 14,692 13,039
Other taxes and social security costs 5,774 (701)
Other creditors 533 548
21,332 13,866
6 Other information
Neuralspark Limited is a private company limited by shares and incorporated in England. Its registered office is:
156 Russell Drive
Wollaton
Nottingham
Nottinghamshire
NG8 2BE
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