COMPANY REGISTRATION NUMBER:
09321604
|
Neptune Resources Limited |
|
|
Filleted Unaudited Financial Statements |
|
|
Neptune Resources Limited |
|
|
Statement of Financial Position |
|
31 March 2025
Fixed assets
|
Tangible assets |
5 |
|
1,457 |
796 |
|
|
|
|
|
Current assets
|
Debtors |
6 |
1,026,513 |
|
128,918 |
|
Cash at bank and in hand |
951,185 |
|
920,259 |
|
------------ |
|
------------ |
|
1,977,698 |
|
1,049,177 |
|
|
|
|
|
|
Creditors: amounts falling due within one year |
7 |
(
1,216,191) |
|
(
336,878) |
|
------------ |
|
------------ |
|
Net current assets |
|
761,507 |
712,299 |
|
|
--------- |
--------- |
|
Total assets less current liabilities |
|
762,964 |
713,095 |
|
|
--------- |
--------- |
|
Net assets |
|
762,964 |
713,095 |
|
|
--------- |
--------- |
|
|
|
|
|
Capital and reserves
|
Called up share capital |
|
100 |
100 |
|
Profit and loss account |
|
762,864 |
712,995 |
|
|
--------- |
--------- |
|
Shareholders funds |
|
762,964 |
713,095 |
|
|
--------- |
--------- |
|
|
|
|
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of income and retained earnings has not been delivered.
For the year ending 31 March 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
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 director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements
.
|
Neptune Resources Limited |
|
|
Statement of Financial Position (continued) |
|
31 March 2025
These financial statements were approved by the
board of directors
and authorised for issue on
27 June 2025
, and are signed on behalf of the board by:
Company registration number:
09321604
|
Neptune Resources Limited |
|
|
Notes to the Financial Statements |
|
Year ended 31 March 2025
1.
General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 18 Jubilee Business Centre, Kingsbury Road, Kingsbury, London, NW9 8AQ.
2.
Statement of compliance
These financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.
3.
Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis. The financial statements are prepared in sterling, which is the functional currency of the entity.
Revenue recognition
Turnover is measured at the fair value of the consideration received or receivable and represents amounts receivable for goods supplied and services rendered, stated net of discounts and of Value Added Tax. When the outcome of a transaction involving the rendering of services can be reliably estimated, revenue from the rendering of services is measured by reference to the stage of completion of the service transaction at the end of the reporting period. When the outcome of a transaction involving the rendering of services cannot be reliably estimated, revenue is recognised only to the extent that expenses recognised are recoverable.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Financial instruments
The Company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors. Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in profit or loss. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss, Financial assets and liabilities are offset and the net amount reported in the Statement of Financial Position when there is an enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Debtors
Basic financial assets, including trade and other debtors, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment.
Cash and cash equivalents
Cash and cash equivalents are represented by cash in hand, deposits held at call with financial institutions, and other short-term 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.
Creditors
Basic financial liabilities, including trade and other creditors, loans from third parties and loans from related parties, are initially recognised at transaction price, unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Such instruments are subsequently carried at amortised cost using the effective interest method, less any impairment.
4.
Employee numbers
The average number of persons employed by the company during the year amounted to
6
(2024:
5
).
5.
Tangible assets
|
Equipment |
|
£ |
|
Cost |
|
|
At 1 April 2024 |
|
|
Additions |
|
|
------- |
|
At 31 March 2025 |
|
|
------- |
|
Depreciation |
|
|
At 1 April 2024 |
|
|
Charge for the year |
|
|
------- |
|
At 31 March 2025 |
|
|
------- |
|
Carrying amount |
|
|
At 31 March 2025 |
|
|
------- |
|
At 31 March 2024 |
|
|
------- |
|
|
6.
Debtors
|
2025 |
2024 |
|
£ |
£ |
|
Trade debtors |
823,359 |
– |
|
Amounts owed by group undertakings |
199,920 |
124,920 |
|
Prepayments and accrued income |
– |
1,932 |
|
Other debtors |
3,234 |
2,066 |
|
------------ |
--------- |
|
1,026,513 |
128,918 |
|
------------ |
--------- |
|
|
|
7.
Creditors:
amounts falling due within one year
|
2025 |
2024 |
|
£ |
£ |
|
Trade creditors |
779 |
314 |
|
Accruals and deferred income |
808,619 |
14,478 |
|
Corporation tax |
84,261 |
77,347 |
|
Social security and other taxes |
322,532 |
244,739 |
|
------------ |
--------- |
|
1,216,191 |
336,878 |
|
------------ |
--------- |
|
|
|
8.
Related party transactions
The company has taken advantage of the exemption provided in FRS 102 Section 1A from disclosing transactions with members of the same group that are wholly owned.