Company registration number 05678719 (England and Wales)
NEAL AND CO FINANCIAL SERVICES  LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
PAGES FOR FILING WITH REGISTRAR
NEAL AND CO FINANCIAL SERVICES  LIMITED
COMPANY INFORMATION
Directors
Kate Bond
Ian Marsh
J Sherwood
Secretary
John Sherwood
Company number
05678719
NEAL AND CO FINANCIAL SERVICES  LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 6
NEAL AND CO FINANCIAL SERVICES  LIMITED
BALANCE SHEET
AS AT
30 APRIL 2024
30 April 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Intangible assets
4
45,000
45,000
Current assets
Stocks
10,350
11,000
Debtors
5
939
2,047
Cash at bank and in hand
117,237
113,635
128,526
126,682
Creditors: amounts falling due within one year
6
(56,559)
(61,370)
Net current assets
71,967
65,312
Total assets less current liabilities
116,967
110,312
Creditors: amounts falling due after more than one year
7
(10,000)
(10,000)
Net assets
106,967
100,312
Capital and reserves
Called up share capital
36,000
36,000
Capital redemption reserve
10,000
10,000
Profit and loss reserves
60,967
54,312
Total equity
106,967
100,312
NEAL AND CO FINANCIAL SERVICES  LIMITED
BALANCE SHEET (CONTINUED)
AS AT
30 APRIL 2024
30 April 2024
- 2 -

The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 30 April 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

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.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements were approved by the board of directors and authorised for issue on 27 January 2025 and are signed on its behalf by:
Kate Bond
Director
Company Registration No. 05678719
NEAL AND CO FINANCIAL SERVICES  LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024
- 3 -
1
Accounting policies
Company information

Neal and Co Financial Services Limited is a private company limited by shares incorporated in England and Wales. The registered office is .

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, [modified to include the revaluation of freehold properties and to include investment properties and certain financial instruments at fair value]. The principal accounting policies adopted are set out below.

 

1.2
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.

 

When cash inflows are deferred and represent a financing arrangement, the fair value of the consideration is the present value of the future receipts. The difference between the fair value of the consideration and the nominal amount received is recognised as interest income.

1.3
Intangible fixed assets - goodwill

Goodwill represents the excess of the cost of acquisition of unincorporated businesses over the fair value of net assets acquired. It is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses.

 

 

1.4
Stocks

Stocks and work in Progress are stated at the lower of cost and net realisable value

NEAL AND CO FINANCIAL SERVICES  LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
1
Accounting policies
(Continued)
- 4 -
1.5
Financial instruments

The following assets and liabilities are classified as financial instruments – trade debtors, trade creditors, bank loans and directors’ loans.

Bank loans are initially measured at the present value of future payments, discounted at a market rate of interest, and subsequently at amortised costs using the effective interest method.

Directors’ loans (being repayable on demand), trade debtors and trade creditors are measured at the undiscounted amount of cash or other consideration expected to be paid or received.

 

Changes in the fair value of derivatives that are designated and qualify as fair value hedges are recognised in profit or loss immediately, together with any changes in the fair value of the hedged asset or liability that are attributable to the hedged risk.

1.6
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Tax deferred or accelerated is accounted for in respect of all material timing differences, in particular accelerated capital allowances. All deferred tax is charged/(credited) to the Statement of Income and Retained Earnings/Profit and Loss Account.

 

1.7
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the directors are required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

NEAL AND CO FINANCIAL SERVICES  LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 5 -
3
Employees

The average monthly number of persons (including directors) employed by the company during the year was 0 (2023 - 3).

2024
2023
Number
Number
Total
-
0
3
4
Intangible fixed assets
Goodwill
£
Cost
At 1 May 2023 and 30 April 2024
45,000
Amortisation and impairment
At 1 May 2023 and 30 April 2024
-
0
Carrying amount
At 30 April 2024
45,000
At 30 April 2023
45,000
5
Debtors
2024
2023
Amounts falling due within one year:
£
£
Trade debtors
939
2,047
6
Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
895
1,499
Corporation tax
4,188
6,033
Other taxation and social security
2,835
512
Other creditors
48,641
53,326
56,559
61,370
NEAL AND CO FINANCIAL SERVICES  LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 APRIL 2024
- 6 -
7
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
10,000
10,000
2024-04-302023-05-01falseCCH SoftwareCCH Accounts Production 2022.200No description of principal activityKate BondIan MarshJ SherwoodJohn Sherwood056787192023-05-012024-04-3005678719bus:Director12023-05-012024-04-3005678719bus:Director22023-05-012024-04-3005678719bus:Director32023-05-012024-04-3005678719bus:CompanySecretary12023-05-012024-04-30056787192024-04-30056787192023-04-3005678719core:NetGoodwill2024-04-3005678719core:NetGoodwill2023-04-3005678719core:CurrentFinancialInstrumentscore:WithinOneYear2024-04-3005678719core:CurrentFinancialInstrumentscore:WithinOneYear2023-04-3005678719core:Non-currentFinancialInstrumentscore:AfterOneYear2024-04-3005678719core:Non-currentFinancialInstrumentscore:AfterOneYear2023-04-3005678719core:CurrentFinancialInstruments2024-04-3005678719core:CurrentFinancialInstruments2023-04-3005678719core:ShareCapital2024-04-3005678719core:ShareCapital2023-04-3005678719core:CapitalRedemptionReserve2024-04-3005678719core:CapitalRedemptionReserve2023-04-3005678719core:RetainedEarningsAccumulatedLosses2024-04-3005678719core:RetainedEarningsAccumulatedLosses2023-04-3005678719core:Goodwill2023-05-012024-04-30056787192022-05-012023-04-3005678719core:NetGoodwill2023-04-3005678719core:Non-currentFinancialInstruments2024-04-3005678719core:Non-currentFinancialInstruments2023-04-3005678719bus:PrivateLimitedCompanyLtd2023-05-012024-04-3005678719bus:SmallCompaniesRegimeForAccounts2023-05-012024-04-3005678719bus:FRS1022023-05-012024-04-3005678719bus:AuditExempt-NoAccountantsReport2023-05-012024-04-3005678719bus:FullAccounts2023-05-012024-04-30xbrli:purexbrli:sharesiso4217:GBP