| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2025 |
| for |
| NEAM Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31st March 2025 |
| for |
| NEAM Limited |
| NEAM Limited (Registered number: 10151931) |
| Contents of the Financial Statements |
| for the Year Ended 31st March 2025 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| NEAM Limited |
| Company Information |
| for the Year Ended 31st March 2025 |
| DIRECTOR: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| 34 - 35 Clarges Street |
| Mayfair |
| London |
| W1J 7EJ |
| NEAM Limited (Registered number: 10151931) |
| Balance Sheet |
| 31st March 2025 |
| 31/3/25 | 31/3/24 |
| Notes | $ | $ | $ | $ |
| FIXED ASSETS |
| Investments | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES |
| NET LIABILITIES | ( |
) | ( |
) |
| CAPITAL AND RESERVES |
| Called up share capital | 7 |
| Retained earnings | ( |
) | ( |
) |
| SHAREHOLDERS' FUNDS | ( |
) | ( |
) |
| The director acknowledges her responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the director and authorised for issue on |
| NEAM Limited (Registered number: 10151931) |
| Notes to the Financial Statements |
| for the Year Ended 31st March 2025 |
| 1. | STATUTORY INFORMATION |
| NEAM Limited is a |
| The presentation currency of the financial statements is the US Dollar ($). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Going concern |
| The financial statements have been prepared on a going concern basis notwithstanding the fact that the company has a deficiency on total equity at the end of the year. The director considers this basis to be appropriate as the company has received a letter of financial support from its shareholder confirming that financial support will continue for the foreseeable future, being a period of at least twelve months from the date these financial statements were approved. The director has also received confirmation from repayment of any funds made, or will make, to the company will not be demanded until such time as the company has sufficient funds. |
| Revenue |
| Revenue is recognised to the extent that it is probable that the economic benefits will flow to the |
| company and the revenue can be reliably measured. Revenue is measured as the fair value of the |
| consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes |
| Foreign currencies |
| Functional and presentation currency |
| The company's functional and presentational currency is US dollars ($). Monetary amounts in these financial statements are rounded to the nearest $. |
| Transactions and balances |
| Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions. |
| At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined. |
| Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss except when deferred in other comprehensive income as qualifying cash flow hedges. |
| Foreign exchange gains and losses are presented in profit or loss within 'administrative expenses'. |
| Interest income |
| Interest income is recognised in profit or loss using the effective interest method. |
| Finance costs |
| Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument. |
| NEAM Limited (Registered number: 10151931) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| Fixed asset investments |
| Investments in 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 profit and loss account for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment. |
| Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period. |
| Cash and cash equivalents |
| Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are 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. |
| Share capital |
| Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds. |
| Financial instruments |
| The company has elected to apply Sections 11 and 12 of FRS 102 in respect of financial instruments. |
| Financial assets and financial liabilities are recognised when the company becomes 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. |
| The company's policies for its major classes of financial assets and financial liabilities are set out below. |
| Financial assets |
| Basic financial assets, including other debtors, cash and bank balances, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
| Such assets are subsequently carried at amortised cost using the effective interest method, less any impairment. |
| Financial liabilities |
| Basic financial liabilities, including trade and other creditors, 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 for a similar debt instrument. Financing transactions are those in which payment is deferred beyond normal business terms or is financed at a rate of interest that is not a market rate. |
| Debt instruments are subsequently carried at amortised cost, using the effective interest rate method. |
| Impairment of financial assets |
| Financial assets 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 the profit and loss account. |
| For financial assets measured at cost less impairment, the impairment loss is measured as the difference between the asset's carrying amount and the best estimate of the amount the company would receive for the asset if it were to be sold at the reporting date. |
| For financial assets measured at amortised cost, the impairment loss is measured as the difference between the asset's carrying amount and the present value of estimated cash flows discounted at the asset's original effective interest rate. If the financial asset has a variable interest rate, the discount rate for measuring any impairment loss is the current effective interest rate determined under the contract. |
| NEAM Limited (Registered number: 10151931) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 2. | ACCOUNTING POLICIES - continued |
| If there is a decrease in the impairment loss arising from an event occurring after the impairment was recognised, the impairment is reversed. The reversal is such that the current carrying amount does not exceed what the carrying amount would have been had the impairment not previously been recognised. The impairment reversal is recognised in profit or loss. |
| Derecognition of financial assets and financial liabilities |
| Financial assets are derecognised when (a) the contractual rights to the cash flows from the asset expire or are settled, or (b) substantially all the risks and rewards of the ownership of the asset are transferred to another party or (c) despite having retained some significant risks and rewards of ownership, control of the asset has been transferred to another party who has the practical ability to unilaterally sell the asset to an unrelated third party without imposing additional restrictions. |
| Financial liabilities are derecognised when the liability is extinguished, that is when the contractual obligation is discharged, cancelled or expires. |
| Offsetting of financial assets and financial liabilities |
| Financial assets and liabilities are offset and the net amount reported in the balance sheet 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. |
| Provisions for liabilities |
| Provisions are made where an event has taken place that gives the company a legal or constructive obligation that probably requires settlement by a transfer of economic benefit, and a reliable estimate can be made of the amount of the obligation. |
| Provisions are charged as an expense to profit or loss in the year that the company becomes aware of the obligation, and are measured at the best estimate at the balance sheet date of the expenditure required to settle the obligation, taking into account relevant risks and uncertainties. |
| When payments are eventually made, they are charged to the provision carried in the balance sheet. |
| Taxation |
| The tax expense for the year comprises current and deferred tax. Tax is recognised in the profit and loss account, 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. |
| Current tax is the amount of income tax payable in respect of taxable profit for the year or prior years. |
| The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the company operates and generates income. |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| NEAM Limited (Registered number: 10151931) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31st March 2025 |
| 4. | FIXED ASSET INVESTMENTS |
| Other |
| investments |
| $ |
| COST OR VALUATION |
| At 1st April 2024 |
| Additions |
| Disposals | ( |
) |
| Revaluations |
| At 31st March 2025 |
| NET BOOK VALUE |
| At 31st March 2025 |
| At 31st March 2024 |
| Cost or valuation at 31st March 2025 is represented by: |
| Other |
| investments |
| $ |
| Valuation in 2024 | 6,533,725 |
| Valuation in 2025 | 247,491 |
| 6,781,216 |
| 5. | DEBTORS |
| 31/3/25 | 31/3/24 |
| $ | $ |
| Amounts falling due within one year: |
| Other debtors |
| Amounts falling due after more than one year: |
| Other debtors |
| Aggregate amounts |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 31/3/25 | 31/3/24 |
| $ | $ |
| Bank loans and overdrafts |
| Trade creditors |
| Other creditors |
| 7. | CALLED UP SHARE CAPITAL |
| Allotted, issued and fully paid: |
| Number: | Class: | Nominal | 31/3/25 | 31/3/24 |
| value: | $ | $ |
| Ordinary A | 1.45 | 116 | 116 |
| Ordinary B | 1.45 | 29 | 29 |
| 145 | 145 |