1 false false false false false false false false false false true false false false false false false No description of principal activity 2023-03-01 Sage Accounts Production Advanced 2024 - FRS102_2024 10,400 2,767 13,167 10,096 975 11,071 2,096 304 xbrli:pure xbrli:shares iso4217:GBP 08916279 2023-03-01 2024-02-29 08916279 2024-02-29 08916279 2023-02-28 08916279 2022-03-01 2023-02-28 08916279 2023-02-28 08916279 2022-02-28 08916279 bus:Director2 2023-03-01 2024-02-29 08916279 core:WithinOneYear 2024-02-29 08916279 core:WithinOneYear 2023-02-28 08916279 core:ShareCapital 2024-02-29 08916279 core:ShareCapital 2023-02-28 08916279 core:SharePremium 2024-02-29 08916279 core:SharePremium 2023-02-28 08916279 core:RetainedEarningsAccumulatedLosses 2024-02-29 08916279 core:RetainedEarningsAccumulatedLosses 2023-02-28 08916279 bus:Director1 2023-03-01 2024-02-29 08916279 bus:SmallEntities 2023-03-01 2024-02-29 08916279 bus:AuditExemptWithAccountantsReport 2023-03-01 2024-02-29 08916279 bus:SmallCompaniesRegimeForAccounts 2023-03-01 2024-02-29 08916279 bus:PrivateLimitedCompanyLtd 2023-03-01 2024-02-29 08916279 bus:FullAccounts 2023-03-01 2024-02-29 08916279 core:OfficeEquipment 2023-03-01 2024-02-29 08916279 core:OfficeEquipment 2023-02-28 08916279 core:OfficeEquipment 2024-02-29 08916279 bus:Director2 1 2023-03-01 2024-02-29
COMPANY REGISTRATION NUMBER: 08916279
Neon Souls Limited
Filleted Unaudited Financial Statements
29 February 2024
Neon Souls Limited
Financial Statements
Year ended 29 February 2024
Contents
Page
Statement of financial position
1
Notes to the financial statements
3
Neon Souls Limited
Statement of Financial Position
29 February 2024
2024
2023
Note
£
£
£
Fixed assets
Tangible assets
5
2,096
304
Current assets
Debtors
6
3,725
Cash at bank and in hand
140
1,093
-------
-------
3,865
1,093
Creditors: amounts falling due within one year
7
1,327
21,987
-------
--------
Net current assets/(liabilities)
2,538
( 20,894)
-------
--------
Total assets less current liabilities
4,634
( 20,590)
-------
--------
Net assets/(liabilities)
4,634
( 20,590)
-------
--------
Capital and reserves
Called up share capital
2
2
Share premium account
42,000
42,000
Profit and loss account
( 37,368)
( 62,592)
--------
--------
Shareholders funds/(deficit)
4,634
( 20,590)
--------
--------
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 29 February 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's 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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements .
Neon Souls Limited
Statement of Financial Position (continued)
29 February 2024
These financial statements were approved by the board of directors and authorised for issue on 21 February 2025 , and are signed on behalf of the board by:
J R Wilkinson
Director
Company registration number: 08916279
Neon Souls Limited
Notes to the Financial Statements
Year ended 29 February 2024
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 66a Gipsy Hill, London, United Kingdom, SE19 1PD.
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.
Going concern
There are no issues regarding going concern due to the continued support of the directors and therefore the accounts have been prepared on this basis.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.
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.
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.
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
-
25% 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.
Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangements entered into. Debtors and creditors with no stated interest rate and receivable or payable within one year are recorded at transaction price. Any losses arising from impairment are recognised in the profit and loss account in other administrative expenses. Loans and borrowings are initially recognised at the transaction price including transaction costs. Subsequently, they are measured at amortised cost using the effective interest rate method, less impairment. If an arrangement constitutes a finance transaction it is measured at present value.
4. Employee numbers
The average number of persons employed by the company during the year amounted to 1 (2023: 1 ).
5. Tangible assets
Equipment
Total
£
£
Cost
At 1 March 2023
10,400
10,400
Additions
2,767
2,767
--------
--------
At 29 February 2024
13,167
13,167
--------
--------
Depreciation
At 1 March 2023
10,096
10,096
Charge for the year
975
975
--------
--------
At 29 February 2024
11,071
11,071
--------
--------
Carrying amount
At 29 February 2024
2,096
2,096
--------
--------
At 28 February 2023
304
304
--------
--------
6. Debtors
2024
2023
£
£
Other debtors
3,725
-------
----
7. Creditors: amounts falling due within one year
2024
2023
£
£
Trade creditors
127
307
Other creditors
1,200
21,680
-------
--------
1,327
21,987
-------
--------
8. Director's advances, credits and guarantees
At the year end the director owed the company £3,725 (2023: The company owed the director £20,530). Advances of £41,540 (2023: £26,860) were made during the year, with repayments of £17,285 (2023: £13,929) being made during the year. No interest was charged on this overdrawn balance.