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REGISTERED NUMBER: 09441876 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 29 FEBRUARY 2024

FOR

NEUROPHYS LTD

NEUROPHYS LTD (REGISTERED NUMBER: 09441876)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 3


NEUROPHYS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 29 FEBRUARY 2024







DIRECTORS: P Cardeal Coelho
T O Oladokun
N K Carvill





SECRETARY: Tayler Bradshaw Limited





REGISTERED OFFICE: Jubilee House
14 Chesterton Road
Cambridge
Cambridgeshire
CB4 3AX





REGISTERED NUMBER: 09441876 (England and Wales)





ACCOUNTANTS: Tayler Bradshaw
Cambridge House
16 High Street
Saffron Walden
Essex
CB10 1AX

NEUROPHYS LTD (REGISTERED NUMBER: 09441876)

BALANCE SHEET
29 FEBRUARY 2024

29/2/24 28/2/23
Notes £    £    £    £   
FIXED ASSETS
Intangible assets 4 32,812 39,375
Tangible assets 5 87,328 79,958
120,140 119,333

CURRENT ASSETS
Debtors 6 594,188 270,465
Cash at bank 919,496 1,028,943
1,513,684 1,299,408
CREDITORS
Amounts falling due within one year 7 205,194 197,412
NET CURRENT ASSETS 1,308,490 1,101,996
TOTAL ASSETS LESS CURRENT LIABILITIES 1,428,630 1,221,329

PROVISIONS FOR LIABILITIES 21,832 19,990
NET ASSETS 1,406,798 1,201,339

CAPITAL AND RESERVES
Called up share capital 4 4
Share premium 65,623 65,623
Retained earnings 1,341,171 1,135,712
SHAREHOLDERS' FUNDS 1,406,798 1,201,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 29 February 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 29 February 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 18 November 2024 and were signed on its behalf by:



P Cardeal Coelho - Director


NEUROPHYS LTD (REGISTERED NUMBER: 09441876)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 29 FEBRUARY 2024

1. STATUTORY INFORMATION

Neurophys 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.

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 is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Goodwill
Goodwill is being amortised evenly over its useful life of ten years.

Intangible assets
Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery etc - 25% on reducing balance

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

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.

Hire purchase and leasing commitments
Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the lease.

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.

NEUROPHYS LTD (REGISTERED NUMBER: 09441876)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 8 (2023 - 4 ) .

4. INTANGIBLE FIXED ASSETS
Goodwill
£   
COST
At 1 March 2023
and 29 February 2024 65,625
AMORTISATION
At 1 March 2023 26,250
Charge for year 6,563
At 29 February 2024 32,813
NET BOOK VALUE
At 29 February 2024 32,812
At 28 February 2023 39,375

5. TANGIBLE FIXED ASSETS
Plant and
machinery
etc
£   
COST
At 1 March 2023 231,508
Additions 31,003
At 29 February 2024 262,511
DEPRECIATION
At 1 March 2023 151,550
Charge for year 23,633
At 29 February 2024 175,183
NET BOOK VALUE
At 29 February 2024 87,328
At 28 February 2023 79,958

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Trade debtors 318,569 214,273
Other debtors 275,619 56,192
594,188 270,465

NEUROPHYS LTD (REGISTERED NUMBER: 09441876)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 29 FEBRUARY 2024

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
29/2/24 28/2/23
£    £   
Taxation and social security 199,322 192,855
Other creditors 5,872 4,557
205,194 197,412

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

The following advances and credits to a director subsisted during the years ended 29 February 2024 and 28 February 2023:

29/2/24 28/2/23
£    £   
T O Oladokun
Balance outstanding at start of year 45,000 -
Amounts advanced - 45,000
Amounts repaid - -
Amounts written off - -
Amounts waived - -
Balance outstanding at end of year - 45,000

Director T Oladokun received £45,000 as a director loan during the course of the financial year. This loan was repaid in full on 6 April 2023.