Neuralguard Ltd Filleted Accounts Cover |
Company No. 11474636 | |||||||||
Neuralguard Ltd Directors Report Registrar |
The Directors present their report and the accounts for the year ended 31 December 2024. | |||||||||
Principal activities | |||||||||
Directors | |||||||||
The Directors who served at any time during the year were as follows: | |||||||||
Y. Ashkenazi | |||||||||
M. Cohen | |||||||||
Y.M. Malachi | |||||||||
R. Pavel | |||||||||
Signed on behalf of the board | |||||||||
M. Cohen | |||||||||
Director | |||||||||
21 May 2025 | |||||||||
Neuralguard Ltd Balance Sheet Registrar |
at | ||||||||||
Company No. | Notes | 2024 | 2023 | |||||||
$ | $ | |||||||||
Fixed assets | ||||||||||
Tangible assets | 4 | |||||||||
Long-term loans receivable | 5 | |||||||||
Current assets | ||||||||||
Debtors | 6 | |||||||||
Cash at bank and in hand | ||||||||||
Creditors: Amount falling due within one year | 7 | ( | ( | |||||||
Net current assets | ||||||||||
Total assets less current liabilities | ||||||||||
Creditors: Amounts falling due after more than one year | 8 | ( | ||||||||
Net assets | ||||||||||
Capital and reserves | ||||||||||
Called up share capital | ||||||||||
Share premium account | 10 | |||||||||
Profit and loss account | 10 | ( | ( | |||||||
Total equity | ||||||||||
As permitted by section 444 (5A)of the Companies Act 2006 the directors have not delivered to the Registrar a copy of the company's profit and loss account. | ||||||||||
Approved by the board on 21 May 2025 and signed on its behalf by: | ||||||||||
M. Cohen | ||||||||||
Director | ||||||||||
21 May 2025 | ||||||||||
Neuralguard Ltd Notes to the Accounts Registrar |
for the year ended 31 December 2024 | ||||||||||||||
1 | General information | |||||||||||||
Neuralguard Ltd is a private company limited by shares and incorporated in England and Wales. | ||||||||||||||
Its registered number is: 11474636 | ||||||||||||||
Its registered office is: | ||||||||||||||
Going concern | ||||||||||||||
2 | Accounting policies | |||||||||||||
Turnover | ||||||||||||||
Turnover is measured at the fair value of the consideration received or receivable. Turnover is reduced for estimated customer returns, rebates and other similar allowances. Revenue from the sale of goods is recognised when all the following conditions are satisfied: • the Company has transferred to the buyer the significant risks and rewards of ownership of the goods; • the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold; • the amount of revenue can be measured reliably; • it is probable that the economic benefits associated with the transaction will flow to the Company; and • the costs incurred or to be incurred in respect of the transaction can be measured reliably. Specifically, revenue from the sale of goods is recognised when goods are delivered and legal title is passed. | ||||||||||||||
Intangible fixed assets | ||||||||||||||
Tangible fixed assets and depreciation | ||||||||||||||
At each balance sheet date, the company reviews the carrying amount of its tangible fixed assets to determine whether there is any indication that any items have suffered an impairment loss. If any such indication exists, the recoverable amount of an asset is estimated in order to determine the extent of the impairment loss. | ||||||||||||||
Plant and machinery | ||||||||||||||
Research and development costs | ||||||||||||||
In the research phase of an internal project it is not possible to demonstrate that the project will generate future economic benefits and hence all expenditure on research shall be recognised as an expense when it is incurred. Intangible assets are recognised from the development phase of a project if and only if certain specific criteria are met in order to demonstrate the asset will generate probable future economic benefits and that its cost can be reliably measured. The capitalised development costs are subsequently amortised on a straight line basis over their useful economic lives, which range from 3 to 6 years. | ||||||||||||||
If it is not possible to distinguish between the research phase and the development phase of an internal project, the expenditure is treated as if it were all incurred in the research phase only. | ||||||||||||||
Taxation | ||||||||||||||
Income tax expense represents the sum of the tax currently payable and deferred tax. The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the profit and loss account because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period. Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable temporary differences. Deferred tax assets are generally recognised for all deductible timing differences to the extent that it is probable that taxable profits will be available against which those deductible temporary differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Current or deferred tax for the year is recognised in profit or loss, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case, the current and deferred tax is also recognised in other comprehensive income or directly in equity respectively. | ||||||||||||||
Investments | ||||||||||||||
Trade and other debtors | ||||||||||||||
Trade and other creditors | ||||||||||||||
Foreign currencies | ||||||||||||||
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. | ||||||||||||||
Financial instruments | ||||||||||||||
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts receivable and payable. | ||||||||||||||
Cash and cash equivalents | ||||||||||||||
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value. | ||||||||||||||
Loans and borrowings | ||||||||||||||
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. | ||||||||||||||
Leased assets | ||||||||||||||
Assets held under finance leases, which are leases where substantially all the risks and rewards of ownership of the assets have passed to the company, are capitalised in the balance sheet as tangible fixed assets and are depreciated over their useful lives. The capital elements of future obligations under the leases are included as liabilities in the balance sheet. The interest element of the rental obligation is charged to the profit and loss account over the period of the lease and represents a constant proportion of the balance of capital repayments outstanding. | ||||||||||||||
Assets held under hire purchase agreements are capitalised as tangible fixed assets and are depreciated over their useful lives. The capital element of future finance payments is included within creditors. Finance charges are allocated to accounting periods over the length of the contract. | ||||||||||||||
Defined contribution pensions | ||||||||||||||
The contributions are recognised as expenses when they fall due. Amounts not paid are shown in accruals in the balance sheet. The assets of the plan are held separately from the company in independently administered funds. | ||||||||||||||
3 | Employees | |||||||||||||
2024 | 2023 | |||||||||||||
Number | Number | |||||||||||||
The average monthly number of employees (including directors) during the year was: | ||||||||||||||
4 | Tangible fixed assets | |||||||||||||
Plant and machinery | Total | |||||||||||||
$ | $ | |||||||||||||
Cost or revaluation | ||||||||||||||
Additions | ||||||||||||||
At 31 December 2024 | ||||||||||||||
Depreciation | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2024 | ||||||||||||||
5 | Long-term loans receivable | |||||||||||||
Long-term loans | Total | |||||||||||||
$ | $ | |||||||||||||
Cost or valuation | ||||||||||||||
Additions | ||||||||||||||
At 31 December 2024 | ||||||||||||||
Provisions/Impairment | ||||||||||||||
Net book values | ||||||||||||||
At 31 December 2024 | ||||||||||||||
In 2024 loans owed from NG Inc, a related company, were moved to investment assets (in 2023 these loans were in current debtors) to more accurately reflect the nature of the loans. | ||||||||||||||
6 | Debtors | |||||||||||||
2024 | 2023 | |||||||||||||
$ | $ | |||||||||||||
Amounts owed by group undertakings | ||||||||||||||
VAT recoverable | ||||||||||||||
Other debtors | ||||||||||||||
Prepayments and accrued income | ||||||||||||||
7 | Creditors: | |||||||||||||
amounts falling due within one year | ||||||||||||||
2024 | 2023 | |||||||||||||
$ | $ | |||||||||||||
Trade creditors | ||||||||||||||
Amounts owed to group undertakings | ||||||||||||||
Taxes and social security | ||||||||||||||
Other creditors | ||||||||||||||
Accruals and deferred income | ||||||||||||||
8 | Creditors: | |||||||||||||
amounts falling due after more than one year | ||||||||||||||
2024 | 2023 | |||||||||||||
$ | $ | |||||||||||||
Other loans | ||||||||||||||
9 | Share Capital | |||||||||||||
At 31.12.2024 the issued and fully paid share paid share capital amounted to 100,000 ordinary shares with a nominal value of $0.012 each, an amount of £1,273 (2023: $1,273). The company also has issued 25,926 preferred shares at $0.012 each, an addition of $332. These were issued at a premium of $51.29. This amounts to a total preferred share capital of $3,090 (2023: $2,758) and a total share premium of $10,561,314 (2023: $9,231,646). | ||||||||||||||
10 | Reserves | |||||||||||||
11 | Related party disclosures | |||||||||||||
Transactions with related parties | ||||||||||||||
Creditors falling after one year includes a loan of $450,000 owed to AMZ Ventures III L.P. (2023: $nil) a majority shareholder in the company. | ||||||||||||||