Company registration number 00285972 (England and Wales)
NEOGENE PAINTS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
PAGES FOR FILING WITH REGISTRAR
NEOGENE PAINTS LIMITED
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
NEOGENE PAINTS LIMITED
BALANCE SHEET
AS AT 31 MARCH 2024
31 March 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investments
3
425,637
425,637
Current assets
Debtors
4
275,508
274,803
Cash at bank and in hand
4,367
29,617
279,875
304,420
Creditors: amounts falling due within one year
5
(11,654)
(5,135)
Net current assets
268,221
299,285
Total assets less current liabilities
693,858
724,922
Creditors: amounts falling due after more than one year
6
(335,361)
(335,361)
Net assets
358,497
389,561
Capital and reserves
Called up share capital
7
187,417
187,417
Capital redemption reserve
62,583
62,583
Profit and loss reserves
108,497
139,561
Total equity
358,497
389,561

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 31 March 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.

NEOGENE PAINTS LIMITED
BALANCE SHEET (CONTINUED)
AS AT 31 MARCH 2024
31 March 2024
- 2 -
The financial statements were approved by the board of directors and authorised for issue on 14 February 2025 and are signed on its behalf by:
D J Kershaw
Director
Company registration number 00285972 (England and Wales)
NEOGENE PAINTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2024
- 3 -
1
Accounting policies
Company information

Neogene Paints Limited is a private company limited by shares incorporated in England and Wales. The registered office is 14 Caxton Way, Watford Business Park, Watford, Hertfordshire, WD18 8UJ.

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. The principal accounting policies adopted are set out below.

1.2
Fixed asset investments

Unlisted investments are measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.3
Financial instruments

The company has elected to apply the provisions of Section 11 ‘Basic Financial Instruments’ and Section 12 ‘Other Financial Instruments Issues’ of FRS 102 to all of its financial instruments.

 

Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.

 

Financial assets and liabilities are offset, with 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.

Basic financial assets

Basic financial assets, which include debtors and cash and bank balances, are measured at transaction price including transaction costs. Financial assets classified as receivable within one year are not amortised.

Basic financial liabilities

Basic financial liabilities, including creditors and loans from fellow group companies are recognised at transaction price unless the arrangement constitutes a financing transactiont. Financial liabilities classified as payable within one year are not amortised.

1.4
Equity instruments

Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.

1.5
Taxation

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

NEOGENE PAINTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
1
Accounting policies
(Continued)
- 4 -
Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
2
3
3
Fixed asset investments
2024
2023
£
£
Other investments other than loans
425,637
425,637
4
Debtors
2024
2023
Amounts falling due within one year:
£
£
Amounts owed by group undertakings
211,284
211,284
Other debtors
64,224
63,519
275,508
274,803
5
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
9,854
3,281
Other taxation and social security
-
0
204
Other creditors
1,800
1,650
11,654
5,135
NEOGENE PAINTS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 MARCH 2024
- 5 -
6
Creditors: amounts falling due after more than one year
2024
2023
£
£
Other creditors
335,361
335,361

Loans totalling £335,361 (2023: £335,361) are secured on the company's fixed asset investments.

Creditors which fall due after five years are as follows:
2024
2023
£
£
Payable by instalments
335,361
335,361
7
Called up share capital
2024
2023
2024
2023
Ordinary share capital
Number
Number
£
£
Issued and fully paid
Ordinary shares of £1 each
187,417
187,417
187,417
187,417
8
Parent company

The company's immediate parent company is Neogene Ltd and ultimate parent company is Neogene Holdings Ltd. Their registered office is 14 Caxton Way, Watford Business Park, Watford, Hertfordshire, WD18 8UJ.

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