Neol Ltd

	Page
Statement of Financial Position	1—2
Notes to the Financial Statements	3—6

1. General Information

Neol Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 13930121 . The registered office is C/O Goldwyns London LLP, No.1 Royal Exchange, London, EC3V 3DG.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

These financial statements are prepared in accordance with the FRS 102 Section 1A Small Entities - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in UK sterling, which is the financial currency of the entity. Monetary amounts in these financial statements are rounded to the nearest UK pound.

The principle accounting policies adopted are set below.

2.2. Going Concern Disclosure

The directors have considered the prospect of the business for the next twelve months and beyond and has arrived at a reasonable expectation the company will continue to meet its obligations as they fall due. The directors have also pledged their financial support to assist with this if required. On this basis, the directors will continue to adopt the going concern basis of accounting in preparing the financial statements.

2.3. Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

2.4. Intangible Fixed Assets and Amortisation - Other Intangible

Other intangible assets include a Trademark which is amortised to the income statement over its estimated economic life of 10 years.

2.5. Tangible Fixed Assets and Depreciation

Tangible assets are initially recorded at cost and subsequently stated at cost less accumulated depreciation and impairment losses.

Computer Equipment

25% Reducing balance

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

Investments

Investments in listed and unlisted company shares whose market value can be reliably determined are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of income and retained earnings for the period. For unlisted investments where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

2.6. Foreign Currencies

Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the statement of financial position date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.

2.7. Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date.

Deferred Tax

Deferred tax liabilities are generally recognised for all timing differences and 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. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

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Neol Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

2.8. Financial Instruments

The company enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other debtors, creditors, loans from banks and other third parties, loans to related parties and investments in non-puttable ordinary shares.

Convertible debt or similiar compound financial instruments

The company also issues convertible debt that potentially contain both a liability and an equity component.

For convertible debt instruments issued for a year of less than one year, there is no fair value adjustment of the debt component and the instrument is therefore recognised in full (being the total proceeds received) as a liability and the same principal value is transferred to equity on conversion of the loan.

For convertible debt issued for a year greater than one year, the proceeds are allocated accordingly between the liability and equity. In order to determine the apportionment of the allocation, the debt component is determined using the fair value of a similiar liability that does not have a conversion feature or similiar associated equity component. The residual amount is then treated as the equity component. Transaction costs shall be allocated between the debt component and the equity component on the basis of their relative fair values.

For year subsequent to the issue, the liability element is accounted for as a financial instrument in accordance with Section 11 Basic Financial Instruments.

2.9. Cash And Cash Equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

2.10. Critical Accounting Judgements And Key Sources of Estimation Uncertainty

In the application of the company's accounting policies management is required to make judgements, estimates and assumptions about the carrying value of assets and liabilities that are not readily ascertainable from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual outcomes may differ from these estimates.

The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the year in which the estimates are revised.

The key areas of estimation uncertainty that have a significant effect on the amounts recognised in the financial statements are described below:

Accrued Expenditure

The company includes a provision for invoices which are yet to be received from and amounts paid in advance to suppliers. These provisions are estimated based upon the expected values of the invoices which are issued and services received following the year end.

3. Average Number of Employees

Average number of employees, including directors, during the year was as follows: 6 (2024: 6)

4. Intangible Assets

	Trademark
	£
Cost
As at 1 March 2024	13,771
Additions	1,930

As at 28 February 2025	15,701

Amortisation
As at 1 March 2024	2,392
Provided during the period	1,570

As at 28 February 2025	3,962

Net Book Value
As at 28 February 2025	11,739

As at 1 March 2024	11,379

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Neol Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

5. Tangible Assets

	Computer Equipment
	£
Cost
As at 1 March 2024	32,260
Additions	538

As at 28 February 2025	32,798

Depreciation
As at 1 March 2024	11,521
Provided during the period	5,319

As at 28 February 2025	16,840

Net Book Value
As at 28 February 2025	15,958

As at 1 March 2024	20,739

6. Investments

	Listed	Unlisted	Total
	£	£	£
Cost or Valuation
As at 1 March 2024	2,494,268	20,171	2,514,439
Disposals	(1,247,808 )	-	(1,247,808 )

As at 28 February 2025	1,246,460	20,171	1,266,631

Provision
As at 1 March 2024	-	-	-

As at 28 February 2025	-	-	-

Net Book Value
As at 28 February 2025	1,246,460	20,171	1,266,631

As at 1 March 2024	2,494,268	20,171	2,514,439

7. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	267,331	21,581
Prepayments and accrued income	52,028	78,140
Other debtors	294	294
Amounts owed by connected parties	8,171	-
VAT recoverable	51,785	17,199

	379,609	117,214

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Neol Ltd

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

8. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	59,047	55,154
Other creditors	140,772	20,323
Accruals and deferred income	340,441	14,679

	540,260	90,156

9. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	435	427

The nominal value per share is 0.01 USD. During the year, the company issued 1,000 USD 0.01 Seed series for a premium of USD 399.99 per share and 131 USD 0.01 Ordinary shares. As at 28 February 2025 there are 38,931 Ordinary shares, 1200 Deferred shares and 18,029 Seed series in issue.

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		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Intangible Assets	4		11,739		11,379
Tangible Assets	5		15,958		20,739
Investments	6		1,266,631		2,514,439

			1,294,328		2,546,557
CURRENT ASSETS
Debtors	7	379,609		117,214
Cash at bank and in hand		381,268		124,226

		760,877		241,440
Creditors: Amounts Falling Due Within One Year	8	(540,260 )		(90,156 )

NET CURRENT ASSETS (LIABILITIES)			220,617		151,284

TOTAL ASSETS LESS CURRENT LIABILITIES			1,514,945		2,697,841

NET ASSETS			1,514,945		2,697,841

CAPITAL AND RESERVES
Called up share capital	9		435		427
Share premium account			5,617,695		5,294,500
Income Statement			(4,103,185 )		(2,597,086 )

SHAREHOLDERS' FUNDS			1,514,945		2,697,841