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Registration number: 07617834

Neon Diagnostics Limited

Annual Report and Unaudited Financial Statements

for the Year Ended 30 September 2024

 

Neon Diagnostics Limited

Contents
__________________________________________________________________________

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 6

 

Neon Diagnostics Limited

Company Information
__________________________________________________________________________

Directors

Mr Naseen Valji

Mrs Shabnam Valji

Registered office

Unit 7 & 8
Swanbridge Industrial Park
Black Croft Road
Witham
Essex
CM8 3YN


 

Accountants

Brooks Green
Chartered AccountantsAbbey House
342 Regents Park Road
London
N3 2LJ

 

Neon Diagnostics Limited

(Registration number: 07617834)
Balance Sheet as at 30 September 2024
__________________________________________________________________________

Note

2024
£

2023
£

           

Fixed assets

   

 

Tangible assets

3

 

8,560

 

8,197

Current assets

   

 

Stocks

4

2,116,284

 

1,373,113

 

Debtors

5

2,015,678

 

2,552,943

 

Cash at bank and in hand

 

3,053,019

 

1,117,443

 

 

7,184,981

 

5,043,499

 

Creditors: Amounts falling due within one year

6

(2,753,969)

 

(1,558,557)

 

Net current assets

   

4,431,012

 

3,484,942

Net assets

   

4,439,572

 

3,493,139

Capital and reserves

   

 

Called up share capital

7

51

 

51

 

Retained earnings

4,439,521

 

3,493,088

 

Shareholders' funds

   

4,439,572

 

3,493,139

For the financial year ending 30 September 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 accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 6 May 2025 and signed on its behalf by:
 

.........................................
Mr Naseen Valji
Director

 

Neon Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
__________________________________________________________________________

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A - 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006.

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

 

Neon Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
__________________________________________________________________________

Asset class

Depreciation method and rate

Furniture, fixtures and fittings

20% on reducing balance basis

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

 

Neon Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
__________________________________________________________________________

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 13 (2023 - 14).

3

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 October 2023

24,087

24,087

Additions

2,503

2,503

At 30 September 2024

26,590

26,590

Depreciation

At 1 October 2023

15,890

15,890

Charge for the year

2,140

2,140

At 30 September 2024

18,030

18,030

Carrying amount

At 30 September 2024

8,560

8,560

At 30 September 2023

8,197

8,197

4

Stocks

2024
£

2023
£

Finished goods and goods for resale

2,116,284

1,373,113

5

Debtors

Current

2024
£

2023
£

Trade debtors

1,243,460

1,280,206

Prepayments

62,675

16,787

Other debtors

709,543

1,255,950

 

2,015,678

2,552,943

 

Neon Diagnostics Limited

Notes to the Unaudited Financial Statements for the Year Ended 30 September 2024
__________________________________________________________________________

6

Creditors

Creditors: amounts falling due within one year

2024
£

2023
£

Due within one year

Trade creditors

2,304,147

1,098,016

Taxation and social security

315,689

386,147

Accruals and deferred income

134,133

74,394

2,753,969

1,558,557

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary A shares of £0.50 each

51

26

51

26

Ordinary B shares of £0.50 each

51

26

51

26

102

51

102

51