Company No:
Contents
| Note | 2023 | 2022 | ||
| £ | £ | |||
| Fixed assets | ||||
| Intangible assets | 3 |
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| Tangible assets | 4 |
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| 481,397 | 618,952 | |||
| Current assets | ||||
| Stocks |
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| Debtors | 5 |
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| Cash at bank and in hand |
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| 36,585 | 117,849 | |||
| Creditors: amounts falling due within one year | 6 | (
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| Net current liabilities | (813,900) | (1,670,085) | ||
| Total assets less current liabilities | (332,503) | (1,051,133) | ||
| Creditors: amounts falling due after more than one year | 7 | (
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| Net liabilities | (
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| Capital and reserves | ||||
| Called-up share capital | 8 |
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| Share premium account |
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| Profit and loss account | (
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| Total shareholder's deficit | (
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Director's responsibilities:
The financial statements of Neuville Grid Data Management Limited (registered number:
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C V Simmons
Director |
The principal accounting policies are summarised below. They have all been applied consistently throughout the financial year and to the preceding financial year, unless otherwise stated.
Neuville Grid Data Management Limited (the Company) is a private company, limited by shares, incorporated in the United Kingdom under the Companies Act 2006 and is registered in England and Wales. The address of the Company's registered office is C/O Bishop Fleming Llp, 10 North Place, Cheltenham, GL50 4DW, United Kingdom. The principal place of business is Sustainable Workspaces, 3rd Floor, Riverside Building, County Hall, Westminster Bridge Road, London, SE1 7PB.
The financial statements have been prepared under the historical cost convention, modified to include certain items at fair value, and in accordance with Section 1A of Financial Reporting Standard 102 (FRS 102) ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland’ issued by the Financial Reporting Council and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime.
The financial statements are presented in pounds sterling which is the functional currency of the Company and rounded to the nearest £.
The director has assessed the Statement of Financial Position and likely future cash flows at the date of approving these financial statements. The director notes that the business has net current liabilities of £813,900. The Company is supported through loans from the Parent Company. The director has received assurances that the loan facilities will continue to be available for at least 12 months from the date of signing these financial statements and the Parent Company will continue to support the Company. After making enquiries, the director believes that any foreseeable debts can be met for at least 12 months from the date of signing these financial statements. Accordingly, they continue to adopt the going concern basis in preparing the financial statements.
Exchange differences are recognised in the Statement of Income and Retained Earnings in the period in which they arise except for exchange differences arising on gains or losses on non-monetary items which are recognised in the Statement of Comprehensive Income.
Turnover is recognised when the significant risks and rewards are considered to have been transferred to the customer.
Short term benefits
The cost of any unused holiday entitlement is recognised in the period in which the employee’s services are received.
Termination benefits are recognised as an expense when the Company is demonstrably committed to terminate the employment of an employee or to provide termination benefits.
Defined contribution schemes
Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.
Current tax is provided at amounts expected to be paid (or recoverable) using the tax rates and laws that have been enacted or substantively enacted at the Statement of Financial Position date.
Deferred tax
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the Company's financial statements. Deferred tax is provided in full on timing differences which result in an obligation to pay more or less tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
The carrying amount of deferred tax assets are reviewed at each reporting date and a valuation allowance is set up against deferred tax assets so that the net carrying amount equals the highest amount that is more likely than not to be recovered based on current or future taxable profit.
| Computer software |
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| Development costs |
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| Trademarks, patents and licences |
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| Plant and machinery |
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| Fixtures and fittings |
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| Office equipment |
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| Computer equipment |
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Assets held under finance leases, hire purchase contracts and other similar arrangements, which confer rights and obligations similar to those attached to owned assets, are capitalised as tangible fixed assets at the fair value of the leased asset (or, if lower, the present value of the minimum lease payments as determined at the inception of the lease) and are depreciated over the shorter of the lease terms and their useful lives. The capital elements of future lease obligations are recorded as liabilities, while the interest elements are charged to the Statement of Income and Retained Earnings over the period of the leases to produce a constant periodic rate of interest on the remaining balance of the liability.
Rentals under operating leases are charged on a straight-line basis over the lease term, even if the payments are not made on such a basis. Benefits received and receivable as an incentive to sign an operating lease are similarly spread on a straight-line basis over the lease term.
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.
Financial assets and financial liabilities are recognised when the Company becomes a party to the contractual provisions of the instrument.
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.
Financial assets and liabilities are only offset in the Balance Sheet when, and only when there exists a legally enforceable right to set off the recognised amounts and the Company intends either to settle on a net basis, or to realise the asset and settle the liability simultaneously.
Equity instruments
Equity instruments issued by the Company are recorded at the fair value of cash or other resources received or receivable, net of direct issue costs. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis. Dividends payable on equity instruments are recognised as liabilities once they are no longer at the discretion of the Company.
Government grants are recognised based on the performance model and are measured at the fair value of the asset received or receivable when there is reasonable assurance that the company will comply with conditions attaching to them and the grants will be received.
A grant that specifies performance conditions is recognised in income only when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the grant proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.
| 2023 | 2022 | ||
| Number | Number | ||
| Monthly average number of persons employed by the Company during the year, including the director |
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| Computer software | Development costs | Trademarks, patents and licences |
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| £ | £ | £ | £ | ||||
| Cost | |||||||
| At 01 January 2023 |
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| Disposals |
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| At 31 December 2023 |
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| Accumulated amortisation | |||||||
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| Charge for the financial year |
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| Disposals |
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| At 31 December 2023 |
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| Net book value | |||||||
| At 31 December 2023 |
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| At 31 December 2022 |
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| Plant and machinery | Fixtures and fittings | Office equipment | Computer equipment | Total | |||||
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| Cost | |||||||||
| At 01 January 2023 |
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| Additions |
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| Disposals |
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| At 31 December 2023 |
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| Accumulated depreciation | |||||||||
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| Charge for the financial year |
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| Impairment losses |
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| Disposals |
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| At 31 December 2023 |
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| Net book value | |||||||||
| At 31 December 2023 | 95,274 | 267 | 216 | 4,269 | 100,026 | ||||
| At 31 December 2022 | 178,069 | 1,361 | 1,144 | 10,261 | 190,835 |
| 2023 | 2022 | ||
| £ | £ | ||
| Trade debtors |
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| Prepayments and accrued income |
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| VAT recoverable |
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| Corporation tax |
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| Other debtors |
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| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans and overdrafts |
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| Trade creditors |
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| Amounts owed to Group undertakings |
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| Accruals |
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| Taxation and social security |
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| Other creditors |
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| 2023 | 2022 | ||
| £ | £ | ||
| Bank loans |
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| Other creditors |
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| £ | £ | ||
| Allotted, called-up and fully-paid | |||
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Transactions with the entity's director
During the year, £87,500 of accrued salary for the director from prior years has been fully written back as no longer payable. By agreement, accumulated deferred director salary of £363,000 relating to prior years will only become payable once certain criteria have been met. These criteria had not been met at the balance sheet date and therefore no provision has been made for this within the financial statements. Post year-end, it was agreed that £301,278 would no longer be payable by the company.
Lessee
| 2023 | 2022 | ||
| £ | £ | ||
| At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows: | 1,428 | 1,428 |