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Registered number: 12224441









NEOFIELD LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 SEPTEMBER 2024

 
NEOFIELD LIMITED
REGISTERED NUMBER: 12224441

BALANCE SHEET
AS AT 30 SEPTEMBER 2024

2024
2023
Note
£
£

FIXED ASSETS
  

Tangible assets
 4 
1,947
443

  
1,947
443

CURRENT ASSETS
  

Debtors: amounts falling due within one year
 5 
18,091
12,085

Cash at bank and in hand
  
46,336
27,888

  
64,427
39,973

Creditors: amounts falling due within one year
 6 
(36,523)
(27,731)

NET CURRENT ASSETS
  
 
 
27,904
 
 
12,242

TOTAL ASSETS LESS CURRENT LIABILITIES
  
29,851
12,685

PROVISIONS FOR LIABILITIES
  

Deferred tax
 7 
(487)
(111)

NET ASSETS
  
29,364
12,574


CAPITAL AND RESERVES
  

Called up share capital 
 8 
100
100

Profit and loss account
  
29,264
12,474

  
29,364
12,574


Page 1

 
NEOFIELD LIMITED
REGISTERED NUMBER: 12224441
    
BALANCE SHEET (CONTINUED)
AS AT 30 SEPTEMBER 2024

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of income and retained earnings in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 





T Douglas
Director

Date: 17 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NEOFIELD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

1.


GENERAL INFORMATION

Neofield Limited is a private company limited by shares and incorporated in England and Wales. Its
registered office is Salisbury House, Station Road, Cambridge, England, CB1 2LA.
The principal trading address is 53 Carisbrooke Road, Cambridge, CB4 3LP. 

2.ACCOUNTING POLICIES

 
2.1

BASIS OF PREPARATION OF FINANCIAL STATEMENTS

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

  
2.2

TURNOVER

Turnover comprises consultancy income recognised during the year, exclusive of VAT.

 
2.3

OPERATING LEASES: THE COMPANY AS LESSEE

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

Page 3

 
NEOFIELD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.4

CURRENT AND DEFERRED TAXATION

The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

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

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the balance sheet date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the balance sheet date.


 
2.5

TANGIBLE FIXED ASSETS

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.

Depreciation is provided on the following basis:

Computer equipment
-
3 years

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 4

 
NEOFIELD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

2.ACCOUNTING POLICIES (CONTINUED)

 
2.6

DEBTORS

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

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.

 
2.8

CREDITORS

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.9

PROVISIONS FOR LIABILITIES

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.10

DIVIDENDS

Equity dividends are recognised when they become legally payable.


3.


EMPLOYEES

The average monthly number of employees, including the director, during the year was 1 (2023 - 1).

Page 5

 
NEOFIELD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

4.


TANGIBLE FIXED ASSETS





Computer equipment

£



COST


At 1 October 2023
1,170


Additions
1,854



At 30 September 2024

3,024



DEPRECIATION


At 1 October 2023
727


Charge for the year on owned assets
350



At 30 September 2024

1,077



NET BOOK VALUE



At 30 September 2024
1,947



At 30 September 2023
443


5.


DEBTORS

2024
2023
£
£


Trade debtors
17,640
-

Prepayments and accrued income
451
12,085

18,091
12,085


Page 6

 
NEOFIELD LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024

6.


CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024
2023
£
£

Trade creditors
444
1,332

Corporation tax
22,353
10,682

Other taxation and social security
4,317
1,571

Other creditors
4,859
9,596

Accruals and deferred income
4,550
4,550

36,523
27,731



7.


DEFERRED TAXATION




2024


£






At beginning of year
(111)


Charged to profit or loss
(376)



AT END OF YEAR
(487)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Accelerated capital allowances
(487)
(111)

(487)
(111)


8.


SHARE CAPITAL

2024
2023
£
£
ALLOTTED, CALLED UP AND FULLY PAID



76 (2023 - 76) Ordinary A shares of £1.00 each
76
76
24 (2023 - 24) Ordinary B shares of £1.00 each
24
24

100

100


 
Page 7