Neurex AI Limited 11960940 false 2023-05-01 2024-09-30 2024-09-30 The principal activity of the company is lies in delivering cutting-edge data and analytics technology to healthcare organizations worldwide, offering consultancy services to entities in the healthcare and life sciences sectors across the US, UK, Europe, and other global regions. Digita Accounts Production Advanced 6.30.9574.0 true 11960940 2023-05-01 2024-09-30 11960940 2024-09-30 11960940 bus:Director1 1 2024-09-30 11960940 bus:Director3 1 2024-09-30 11960940 bus:OrdinaryShareClass1 2024-09-30 11960940 core:CurrentFinancialInstruments 2024-09-30 11960940 core:CurrentFinancialInstruments core:WithinOneYear 2024-09-30 11960940 core:OtherResidualIntangibleAssets 2024-09-30 11960940 core:FurnitureFittingsToolsEquipment 2024-09-30 11960940 core:MotorVehicles 2024-09-30 11960940 bus:SmallEntities 2023-05-01 2024-09-30 11960940 bus:AuditExemptWithAccountantsReport 2023-05-01 2024-09-30 11960940 bus:FilletedAccounts 2023-05-01 2024-09-30 11960940 bus:SmallCompaniesRegimeForAccounts 2023-05-01 2024-09-30 11960940 bus:RegisteredOffice 2023-05-01 2024-09-30 11960940 bus:Director1 2023-05-01 2024-09-30 11960940 bus:Director1 1 2023-05-01 2024-09-30 11960940 bus:Director3 2023-05-01 2024-09-30 11960940 bus:Director3 1 2023-05-01 2024-09-30 11960940 bus:OrdinaryShareClass1 2023-05-01 2024-09-30 11960940 bus:PrivateLimitedCompanyLtd 2023-05-01 2024-09-30 11960940 bus:Agent1 2023-05-01 2024-09-30 11960940 core:FurnitureFittingsToolsEquipment 2023-05-01 2024-09-30 11960940 core:MotorVehicles 2023-05-01 2024-09-30 11960940 core:OfficeEquipment 2023-05-01 2024-09-30 11960940 countries:England 2023-05-01 2024-09-30 11960940 2023-04-30 11960940 bus:Director1 1 2023-04-30 11960940 bus:Director3 1 2023-04-30 11960940 core:OtherResidualIntangibleAssets 2023-04-30 11960940 core:FurnitureFittingsToolsEquipment 2023-04-30 11960940 core:MotorVehicles 2023-04-30 11960940 2022-05-01 2023-04-30 11960940 2023-04-30 11960940 bus:Director1 1 2023-04-30 11960940 bus:Director3 1 2023-04-30 11960940 bus:OrdinaryShareClass1 2023-04-30 11960940 core:CurrentFinancialInstruments 2023-04-30 11960940 core:CurrentFinancialInstruments core:WithinOneYear 2023-04-30 11960940 core:OtherResidualIntangibleAssets 2023-04-30 11960940 core:FurnitureFittingsToolsEquipment 2023-04-30 11960940 core:MotorVehicles 2023-04-30 11960940 bus:Director1 1 2022-05-01 2023-04-30 11960940 bus:Director3 1 2022-05-01 2023-04-30 11960940 bus:OrdinaryShareClass1 2022-05-01 2023-04-30 11960940 bus:Director1 1 2022-04-30 11960940 bus:Director3 1 2022-04-30 iso4217:GBP xbrli:pure xbrli:shares

Registration number: 11960940

Neurex AI Limited

Unaudited Filleted Financial Statements

for the Period from 1 May 2023 to 30 September 2024

 

Neurex AI Limited

Contents

Company Information

1

Directors' Report

2

Accountants' Report

3

Balance Sheet

4

Notes to the Unaudited Financial Statements

5 to 11

 

Neurex AI Limited

Company Information

Directors

Mr Anupam Das

Mr Nilesh Atmaram Patkar

Registered office

124 City Road
London
EC1V 2NX

Accountants

Blue Spire Limited Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

 

Neurex AI Limited

Directors' Report for the Period from 1 May 2023 to 30 September 2024

The directors present their report and the financial statements for the period from 1 May 2023 to 30 September 2024.

Directors of the company

The directors who held office during the period were as follows:

Mr Anupam Das

Mr Nilesh Atmaram Patkar

Principal activities, trading review and future developments

Neurex AI Limited is a healthtech company delivering AI-powered clinical documentation, claims automation, and healthcare analytics solutions to providers and payers globally.
During the reporting period, the company achieved strong commercial traction across the UK and US, with growing adoption of its platform by healthcare providers and payers under a revenue-sharing model.
 

Progress included key customer wins, EPR integration advancements, and AI enhancements for denial prediction and automated appeals. The company has continued to invest in R&D to expand capabilities in care gap detection and real-time clinical insights and has initiated patent filings to protect its proprietary technologies.
Looking ahead, Neurex AI aims to scale through strategic partnerships and public-sector engagement, including positioning on Crown Commercial Service and G-Cloud 14 to enhance visibility with NHS and government buyers. With growing demand for intelligent healthcare automation, the directors believe the company is well-positioned for long-term growth and value creation.
 

Going concern & risk

The Company meets its day-to-day working capital requirements from corporate cash balances. The current economic conditions create uncertainty particularly over the exchange rate between sterling and foreign currencies. The Company continues to monitor the uncertainty in the current economic and business environment including the impact of inflation, economic contraction, and high interest rates, combined with an unstable geopolitical environment. This monitoring and analysis considered our business resilience and continuity plans and stress testing of liquidity and financial resources. The analysis modelled the financial impact assuming an increasing severity in relation to revenue and certain costs, for a 12-month period, so that the potential impact on profitability could be assessed.

Having carried out an assessment, the Directors have no reason to believe that a material uncertainty exists that cast significant doubt upon the ability of the Company to continue as a going concern

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Mr Anupam Das
Director

 

Chartered Accountants' Report to the Board of Directors on the Preparation of the Unaudited Statutory Accounts of
Neurex AI Limited
for the Period Ended 30 September 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Neurex AI Limited for the period ended 30 September 2024 as set out on pages 4 to 11 from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at
http://www.icaew.com/regulation.

This report is made solely to the Board of Directors of Neurex AI Limited, as a body, in accordance with the terms of our engagement letter. Our work has been undertaken solely to prepare for your approval the accounts of Neurex AI Limited and state those matters that we have agreed to state to the Board of Directors of Neurex AI Limited, as a body, in this report in accordance with ICAEW Technical Release 07/16 AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neurex AI Limited and its Board of Directors as a body for our work or for this report.

It is your duty to ensure that Neurex AI Limited has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and profit of Neurex AI Limited. You consider that Neurex AI Limited is exempt from the statutory audit requirement for the period.

We have not been instructed to carry out an audit or a review of the accounts of Neurex AI Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.

......................................

Blue Spire Limited
Cawley Priory
South Pallant
Chichester
West Sussex
PO19 1SY

18 June 2025

 

Neurex AI Limited

(Registration number: 11960940)
Balance Sheet as at 30 September 2024

Note

2024
£

2023
£

Fixed assets

 

Intangible assets

4

1

1

Tangible assets

5

82,135

110,794

 

82,136

110,795

Current assets

 

Stocks

6

-

30,000

Debtors

7

100,030

23,620

Cash at bank and in hand

 

524,187

389,716

 

624,217

443,336

Creditors: Amounts falling due within one year

8

(342,496)

(298,491)

Net current assets

 

281,721

144,845

Total assets less current liabilities

 

363,857

255,640

Provisions for liabilities

(20,534)

(21,051)

Net assets

 

343,323

234,589

Capital and reserves

 

Called up share capital

9

206

206

Share premium reserve

249,994

249,994

Retained earnings

93,123

(15,611)

Shareholders' funds

 

343,323

234,589

For the financial period 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 period 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 and Directors' Report.

Approved and authorised by the Board on 18 June 2025 and signed on its behalf by:
 

.........................................
Mr Anupam Das
Director

 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
124 City Road
London
EC1V 2NX

These financial statements were authorised for issue by the Board on 18 June 2025.

2

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 smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

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.

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.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred 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.

 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference.

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:

Asset class

Depreciation method and rate

Office equipment

33% straight line

Motor vehicles

25% reducing balance

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.

 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

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.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including directors) during the period, was 10 (2023 - 7).

 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

4

Intangible assets

Other intangible assets
 £

Total
£

Cost or valuation

At 1 May 2023

1

1

At 30 September 2024

1

1

Amortisation

Carrying amount

At 30 September 2024

1

1

At 30 April 2023

1

1

5

Tangible assets

Furniture, fittings and equipment
 £

Motor vehicles
 £

Total
£

Cost or valuation

At 1 May 2023

6,440

118,480

124,920

At 30 September 2024

6,440

118,480

124,920

Depreciation

At 1 May 2023

1,784

12,342

14,126

Charge for the period

2,125

26,534

28,659

At 30 September 2024

3,909

38,876

42,785

Carrying amount

At 30 September 2024

2,531

79,604

82,135

At 30 April 2023

4,656

106,138

110,794

6

Stocks

2024
£

2023
£

Work in progress

-

30,000

 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

7

Debtors

Current

2024
£

2023
£

Trade debtors

62,951

721

Prepayments

4,213

4,055

Other debtors

21,266

18,844

Accrued income

11,600

-

 

100,030

23,620

 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

8

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

5,200

3,341

Taxation and social security

 

9,534

17,839

Accruals and deferred income

 

1

1

Other creditors

 

19,075

7,936

Amounts due to related parties

11

308,686

269,374

 

342,496

298,491

9

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £0.00 each

2,059,705

206

2,059,705

206

       
 

Neurex AI Limited

Notes to the Unaudited Financial Statements for the Period from 1 May 2023 to 30 September 2024

10

Dividends

Interim dividends paid

2024
£

2023
£

Interim dividend of £Nil (2023 - £625.00) per each Ordinary shares

-

125,000

 

 

11

Related party transactions

Transactions with directors

2024

At 1 May 2023
£

Advances to director
£

Repayments by director
£

At 30 September 2024
£

Mr Anupam Das

Due from/(to) the director

(134,687)

67,215

(86,870)

(154,343)

Mr Nilesh Atmaram Patkar

Due from/(to) the director

(134,687)

64,983

(84,638)

(154,343)

2023

At 1 May 2022
£

Advances to director
£

Repayments by director
£

At 30 April 2023
£

Mr Anupam Das

Due from/(to) the director

(99,579)

59,511

(94,618)

(134,687)

Mr Nilesh Atmaram Patkar

Due from/(to) the director

(99,579)

51,454

(86,561)

(134,687)