4 false false false false false false false false false false true false false false false false false No description of principal activity 2023-02-01 Sage Accounts Production Advanced 2023 - FRS102_2023 220 220 220 2,751 2,751 917 917 1,834 xbrli:pure xbrli:shares iso4217:GBP SC644271 2023-02-01 2024-01-31 SC644271 2024-01-31 SC644271 2023-01-31 SC644271 2022-02-01 2023-01-31 SC644271 2023-01-31 SC644271 2022-01-31 SC644271 bus:Director4 2023-02-01 2024-01-31 SC644271 core:WithinOneYear 2024-01-31 SC644271 core:WithinOneYear 2023-01-31 SC644271 core:RetainedEarningsAccumulatedLosses 2024-01-31 SC644271 core:RetainedEarningsAccumulatedLosses 2023-01-31 SC644271 bus:SmallEntities 2023-02-01 2024-01-31 SC644271 bus:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 SC644271 bus:SmallCompaniesRegimeForAccounts 2023-02-01 2024-01-31 SC644271 bus:CompanyLimitedByGuarantee 2023-02-01 2024-01-31 SC644271 bus:FullAccounts 2023-02-01 2024-01-31 SC644271 core:ComputerEquipment 2023-02-01 2024-01-31 SC644271 core:PatentsTrademarksLicencesConcessionsSimilar 2024-01-31 SC644271 core:PatentsTrademarksLicencesConcessionsSimilar 2023-01-31 SC644271 core:ComputerEquipment 2024-01-31
COMPANY REGISTRATION NUMBER: SC644271
NECCUS
Company Limited by Guarantee
Filleted Unaudited Financial Statements
31 January 2024
NECCUS
Company Limited by Guarantee
Statement of Financial Position
31 January 2024
2024
2023
Note
£
£
Fixed assets
Intangible assets
6
220
220
Tangible assets
7
1,834
-------
----
2,054
220
Current assets
Debtors
8
93,697
66,754
Cash at bank and in hand
223,193
278,252
---------
---------
316,890
345,006
Creditors: amounts falling due within one year
9
125,017
138,363
---------
---------
Net current assets
191,873
206,643
---------
---------
Total assets less current liabilities
193,927
206,863
---------
---------
Net assets
193,927
206,863
---------
---------
Capital and reserves
Profit and loss account
193,927
206,863
---------
---------
Members funds
193,927
206,863
---------
---------
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 January 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors' responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476 ;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
NECCUS
Company Limited by Guarantee
Statement of Financial Position (continued)
31 January 2024
These financial statements were approved by the board of directors and authorised for issue on 21 May 2024 , and are signed on behalf of the board by:
Mr A T James
Director
Company registration number: SC644271
NECCUS
Company Limited by Guarantee
Notes to the Financial Statements
Year ended 31 January 2024
1. General information
The company is a private company limited by guarantee, registered in Scotland. The address of the registered office is Johnstone House, 52-54 Rose Street, Aberdeen, AB10 1HA.
2. Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties measured at fair value through profit or loss.
The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.
Income tax
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Foreign currencies
Foreign currency transactions are initially recorded in the functional currency, by applying the spot exchange rate as at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are translated at the exchange rate ruling at the reporting date, with any gains or losses being taken to the profit and loss account.
Intangible assets
Intangible assets are initially recorded at cost, and are subsequently stated at cost less any accumulated amortisation and impairment losses. Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses. Intangible assets acquired as part of a business combination are only recognised separately from goodwill when they arise from contractual or other legal rights, are separable, the expected future economic benefits are probable and the cost or value can be measured reliably.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. An increase in the carrying amount of an asset as a result of a revaluation, is recognised in other comprehensive income and accumulated in equity, except to the extent it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation, is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in equity in respect of that asset. Where a revaluation decrease exceeds the accumulated revaluation gains accumulated in equity in respect of that asset, the excess shall be recognised in profit or loss.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Equipment
-
33% straight line
Impairment of fixed assets
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. For the purposes of impairment testing, when it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that largely independent of the cash inflows from other assets or groups of assets. For impairment testing of goodwill, the goodwill acquired in a business combination is, from the acquisition date, allocated to each of the cash-generating units that are expected to benefit from the synergies of the combination, irrespective of whether other assets or liabilities of the company are assigned to those units.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Debt instruments are subsequently measured at amortised cost. Where investments in non-convertible preference shares and non-puttable ordinary shares or preference shares are publicly traded or their fair value can otherwise be measured reliably, the investment is subsequently measured at fair value with changes in fair value recognised in profit or loss. All other such investments are subsequently measured at cost less impairment. Other financial instruments, including derivatives, are initially recognised at fair value, unless payment for an asset is deferred beyond normal business terms or financed at a rate of interest that is not a market rate, in which case the asset is measured at the present value of the future payments discounted at a market rate of interest for a similar debt instrument. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, with the exception of hedging instruments in a designated hedging relationship.
Financial assets that are measured at cost or amortised cost are reviewed for objective evidence of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately. For all equity instruments regardless of significance, and other financial assets that are individually significant, these are assessed individually for impairment. Other financial assets are either assessed individually or grouped on the basis of similar credit risk characteristics. Any reversals of impairment are recognised in profit or loss immediately, to the extent that the reversal does not result in a carrying amount of the financial asset that exceeds what the carrying amount would have been had the impairment not previously been recognised.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.
4. Company limited by guarantee
The company is a private company limited by guarantee. In the event of the company being wound up each member is limited to contribute £1. At 31 January 2023 the company has 43 paid subscribing members and a total of 7 supporting members at differing levels of support.
5. Employee numbers
The average number of persons employed by the company during the year amounted to 4 (2023: 4 ).
6. Intangible assets
Intangible asset
£
Cost
At 1 February 2023 and 31 January 2024
220
----
Amortisation
At 1 February 2023 and 31 January 2024
----
Carrying amount
At 31 January 2024
220
----
At 31 January 2023
220
----
7. Tangible assets
Equipment
Total
£
£
Cost
At 1 February 2023
Additions
2,751
2,751
-------
-------
At 31 January 2024
2,751
2,751
-------
-------
Depreciation
At 1 February 2023
Charge for the year
917
917
-------
-------
At 31 January 2024
917
917
-------
-------
Carrying amount
At 31 January 2024
1,834
1,834
-------
-------
At 31 January 2023
-------
-------
8. Debtors
2024
2023
£
£
Trade debtors
60,202
65,066
Other debtors
33,495
1,688
--------
--------
93,697
66,754
--------
--------
9. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
10,616
46,459
Corporation tax
287
14,427
Social security and other taxes
29,348
7,501
Other creditors
84,766
69,976
---------
---------
125,017
138,363
---------
---------