Company Registration No. 09324936 (England)
Neptune Group Service Company Limited
Unaudited accounts
for the year ended 31 December 2024
Neptune Group Service Company Limited
Statement of financial position
as at 31 December 2024
Tangible assets
222,145
298,376
Debtors
2,063,157
1,532,326
Cash at bank and in hand
280,135
6,263
Creditors: amounts falling due within one year
(2,217,571)
(1,193,382)
Net current assets
125,721
345,207
Net assets
347,866
643,583
Called up share capital
10
10
Profit and loss account
347,856
643,573
Shareholders' funds
347,866
643,583
For the year ending 31 December 2024 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 in accordance with section 476 of the Companies Act 2006.
The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.
These accounts have been prepared and delivered 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 profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board of Directors and authorised for issue on 23 September 2025 and were signed on its behalf by
Creighton Boyd
Director
Company Registration No. 09324936
Neptune Group Service Company Limited
Notes to the Accounts
for the year ended 31 December 2024
Neptune Group Service Company Limited is a private company, limited by shares, registered in England, registration number 09324936. The registered office is 14 Holywell Row, London, EC2A 4JB, United Kingdom.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
These accounts have been prepared under the historical cost convention unless otherwise specified within these accounting policies.
The accounts are presented in £ sterling.
Having reviewed the resources available, the directors believe that Neptune Group Service Company Limited has adequate resources available to enable it to continue in operational existence for a period of at least 12 months from the date of approval of the financial statements. Accordingly, the company continues to adopt the going concern basis in preparation of its financial statements.
Turnover comprises the invoice value of goods supplied by the company, exclusive of trade discounts and value added tax. Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when: the amount of revenue can be measured reliably; it is probable that the Company will receive the consideration due under the contract; the stage of completion of the contract can be measured reliably; and the costs incurred and the costs to complete the contract can be measured reliably.
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost or at valuation, less accumulated depreciation. The carrying values of tangible fixed assets are reviewed annually for impairment in periods if events or changes in circumstances indicate the carrying value may not be recoverable. The charge to depreciation is calculated to write off the original cost or valuation of tangible fixed assets, less their estimated residual value, over their expected useful lives as follows:
Motor vehicles
20% Reducing balance
Fixtures & fittings
10 - 20% Straight line
Trade and other debtors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method less impairment losses for bad and doubtful debts except where the effect of discounting would be immaterial. In such cases the receivables are stated at cost less impairment losses for bad and doubtful debts.
Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest rate method, unless the effect of discounting would be immaterial, in which case they are stated at cost.
Neptune Group Service Company Limited
Notes to the Accounts
for the year ended 31 December 2024
Taxation and deferred taxation
Current tax represents the amount expected to be paid or recovered in respect of taxable profits for the year and is calculated using the tax rates and laws that have been enacted or substantially enacted at the Balance Sheet date.
The company operates a defined contribution scheme for the benefit of its employees. Contributions payable are recognised in the profit and loss account when due.
4
Tangible fixed assets
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At 1 January 2024
7,166
867,186
874,352
At 31 December 2024
7,166
868,930
876,096
At 1 January 2024
5,823
570,153
575,976
Charge for the year
269
77,706
77,975
At 31 December 2024
6,092
647,859
653,951
At 31 December 2024
1,074
221,071
222,145
At 31 December 2023
1,343
297,033
298,376
Amounts falling due within one year
Amounts due from group undertakings etc.
1,044,614
1,161,635
Accrued income and prepayments
1,017,126
370,551
6
Creditors: amounts falling due within one year
2024
2023
Trade creditors
23,708
16,589
Amounts owed to group undertakings and other participating interests
2,174,441
1,086,408
Taxes and social security
13,639
27,751
Other creditors
2,883
2,755
Allotted, called up and fully paid:
10 Ordinary shares of £1 each
10
10
Neptune Group Service Company Limited
Notes to the Accounts
for the year ended 31 December 2024
8
Transactions with related parties
Included within debtors are amounts due from connected companies of £1,044,614 (2023: £1,161,635). Accrued income and prepayments amounting to £1,000,000 is due from connected companies (2023: £350,000).
Included within creditors are amounts due to connected companies of £2,174,441 (2023: £1,086,408).
All amounts are interest free and repayable on demand.
9
Average number of employees
During the year the average number of employees was 9 (2023: 9).