Company Registration No. 04729579 (England and Wales)
Neocol UK Ltd
Unaudited accounts
for the year ended 30 December 2024
Neocol UK Ltd
Unaudited accounts
Contents
Neocol UK Ltd
Company Information
for the year ended 30 December 2024
Company Number
04729579 (England and Wales)
Registered Office
First Floor
129 High Street
Guildford
Surrey
GU1 3AA
United Kingdom
Neocol UK Ltd
Statement of financial position
as at 30 December 2024
Tangible assets
1,569
3,140
Cash at bank and in hand
30,145
2,510
Creditors: amounts falling due within one year
(266,795)
(332,581)
Net current assets/(liabilities)
9,327
(113,778)
Total assets less current liabilities
10,896
(110,638)
Creditors: amounts falling due after more than one year
(208,148)
(54,000)
Provisions for liabilities
Net liabilities
(197,684)
(165,070)
Called up share capital
1
1
Capital redemption reserve
1
1
Profit and loss account
(197,686)
(165,072)
Shareholders' funds
(197,684)
(165,070)
For the year ending 30 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 director acknowledges his 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 and authorised for issue on 19 September 2025 and were signed on its behalf by
R Lott
Director
Company Registration No. 04729579
Neocol UK Ltd
Notes to the Accounts
for the year ended 30 December 2024
Neocol UK Ltd is a private company, limited by shares, registered in England and Wales, registration number 04729579. The registered office is First Floor, 129 High Street, Guildford, Surrey, GU1 3AA, 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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
The COVID-19 pandemic is causing significant financial uncertainty globally and at this stage, it is not possible to reliably forecast what the long term impact of this may be. Despite the uncertainties that exist, it is the director's opinion that the going concern basis of preparation of the accounts continues to be appropriate.
Turnover is derived from the providing of software services and is recognised to the extent that it is probable that economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.
The company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the company pays fixed contributions into a separate entity. Once the contributions have been paid the company has no further payment obligations.
The contributions are recognised as an expense in the Income Statement when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of Financial Position. The assets of the plan are held separately from the company in independently administered funds.
Neocol UK Ltd
Notes to the Accounts
for the year ended 30 December 2024
Current and deferred taxation
The tax expense for the year end comprises current and deferred tax. Tax is recognised in the Income Statement, 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 reporting 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 Statement of Financial Position 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 reporting date.
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Expenditure on research and development is written off in the year in which it is incurred.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
25% straight line
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss.
Neocol UK Ltd
Notes to the Accounts
for the year ended 30 December 2024
Judgements in applying accounting policies and key sources of estimation uncertainty
The preparation of financial statements in compliance with FRS 102 Section 1A requires the use of certain critical accounting estimates. it also requires management to exercise judgement in applying the company's accounting policies. In preparing these financial statements, the directors have made the following judgements:
Determine whether there are indicators of impairment of the company's tangible fixed assets. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.
Other key sources of estimation uncertainty:
Tangible fixed assets (note 4)
Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.
4
Tangible fixed assets
Computer equipment
Amounts falling due within one year
Amounts due from group undertakings etc.
219,734
165,711
Accrued income and prepayments
12,731
-
Amounts falling due after more than one year
Amounts due from group undertakings etc.
-
50,492
Neocol UK Ltd
Notes to the Accounts
for the year ended 30 December 2024
6
Creditors: amounts falling due within one year
2024
2023
Bank loans and overdrafts
54,000
45,599
Trade creditors
14,569
516
Taxes and social security
14,683
65,772
Deferred income
165,190
164,674
7
Creditors: amounts falling due after more than one year
2024
2023
Amounts owed to group undertakings and other participating interests
208,148
-
8
Average number of employees
During the year the average number of employees was 6 (2023: 6).