Company registration number 12255525 (England and Wales)
Neuron Innovations Limited
Unaudited Financial Statements
For the year ended 31 January 2025
PAGES FOR FILING WITH REGISTRAR
Neuron Innovations Limited
Contents
Page
Balance sheet
1
Notes to the financial statements
2 - 4
Neuron Innovations Limited
Balance Sheet
As at 31 January 2025
- 1 -
2025
2024
Notes
£
£
£
£
Current assets
Stocks
1,868
17,556
Debtors
3
133,466
110,103
Cash at bank and in hand
286,815
129,139
422,149
256,798
Creditors: amounts falling due within one year
4
(489,697)
(360,430)
Net current liabilities
(67,548)
(103,632)
Creditors: amounts falling due after more than one year
5
(42,397)
(49,562)
Net liabilities
(109,945)
(153,194)
Capital and reserves
Called up share capital
12
12
Share premium account
39,583
39,583
Profit and loss reserves
(149,540)
(192,789)
Total equity
(109,945)
(153,194)
For the financial year ended 31 January 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
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 directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.
The directors of the company have elected not to include a copy of the profit and loss account within the financial statements.true
The financial statements were approved by the board of directors and authorised for issue on 10 July 2025 and are signed on its behalf by:
Mr J Dunthorne
Director
Company registration number 12255525 (England and Wales)
Neuron Innovations Limited
Notes to the Financial Statements
For the year ended 31 January 2025
- 2 -
1
Accounting policies
Company information
Neuron Innovations Limited is a private company limited by shares incorporated in England and Wales. The registered office is 71-75 Shelton Street, London, WC2H 8JQ.
1.1
Accounting convention
These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.
The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.
1.2
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for goods and services provided in the normal course of business, and is shown net of VAT and other sales related taxes.
1.3
Research and development expenditure
Research expenditure is written off against profits in the year in which it is incurred. Identifiable development expenditure is capitalised to the extent that the technical, commercial and financial feasibility can be demonstrated.
1.4
Stocks
Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.
At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.
1.5
Financial instruments
The company has elected to apply the provisions of Section 11 and Section 12 of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the company's balance sheet when the company becomes party to the contractual provisions of the instrument.
Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present fair value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.
Basic financial liabilities
Basic financial liabilities, which include trade and other payables and bank loans, are initially measured at transaction price and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present fair value of the future receipts discounted at a market rate of interest.
Neuron Innovations Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2025
1
Accounting policies
(Continued)
- 3 -
1.6
Equity instruments
Equity instruments issued by the company are recorded at the proceeds received, net of transaction costs. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the company.
1.7
Taxation
The tax expense represents the sum of the tax currently payable and deferred tax.
Current tax
The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes 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 reporting end date.
1.8
Retirement benefits
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
1.9
Government grants
Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.
A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
2
Employees
The average monthly number of persons (including directors) employed by the company during the year was:
2025
2024
Number
Number
Total
6
7
3
Debtors
2025
2024
Amounts falling due within one year:
£
£
Trade debtors
19,700
Corporation tax recoverable
57,870
49,801
Other debtors
55,896
60,302
133,466
110,103
Neuron Innovations Limited
Notes to the Financial Statements (Continued)
For the year ended 31 January 2025
- 4 -
4
Creditors: amounts falling due within one year
2025
2024
£
£
Trade creditors
1,160
Taxation and social security
182,661
95,649
Other creditors
305,876
264,781
489,697
360,430
5
Creditors: amounts falling due after more than one year
2025
2024
£
£
Bank loans and overdrafts
42,397
49,562