Neuco Limited

Contents

Company Information	1
Balance Sheet	2
Notes to the Unaudited Financial Statements	3 to 9

Neuco Limited

Company Information

Directors	Mr William John Trenchard Mr Laurie Scott Mrs Kelley Louise Scott Mrs Chloe Jayne Trenchard

Registered office

Ground Floor 19 New Road Brighton East Sussex BN1 1UF

Accountants

Lucraft Hodgson & Dawes LLP Ground Floor 19 New Road Brighton East Sussex BN1 1UF

Neuco Limited

(Registration number: 10322838)
Balance Sheet as at 31 March 2025

	Note	2025 £	2024 £
Fixed Assets
Tangible Assets	4	80,463	109,796
Current assets
Debtors	5	212,112	306,267
Cash at bank and in hand		702,230	785,629
		914,342	1,091,896
Creditors: Amounts falling due within one year	6	(250,546)	(249,114)
Net current assets		663,796	842,782
Total assets less current liabilities		744,259	952,578
Creditors: Amounts falling due after more than one year	6	(23,226)	(28,753)
Provisions for liabilities		(18,201)	(27,449)
Net assets		702,832	896,376
Capital and Reserves
Called up share capital		360	360
Retained Earnings		702,472	896,016
Shareholders' funds		702,832	896,376

For the financial 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.

Directors' responsibilities:

•	The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and
•	The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 9 December 2025 and signed on its behalf by:
 

......................................... Mr William John Trenchard Director

......................................... Mr Laurie Scott Director

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

1	General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
Ground Floor
19 New Road
Brighton
East Sussex
BN1 1UF
England

These financial statements were authorised for issue by the Board on 9 December 2025.

2	Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

The financial statements are presented in Sterling, which is the functional currency of the company.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Deferred income tax is recognised on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements and on unused tax losses or tax credits in the company. Deferred income tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

A deferred tax asset is only recognised when it is more likely than not that the asset will be recoverable in the foreseeable future out of suitable taxable profits from which the underlying timing differences can be deducted.

Tangible Assets

Tangible Assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

Asset class	Depreciation method and rate
Fixtures and Fittings	25% on reducing balance
Computer Equipment	25% on cost
Plant and Machinery	20% on cost

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Trade Debtors

Trade Debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade Debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade Creditors

Trade Creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade Creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Leases

Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Payments made under operating leases are charged to profit or loss on a straight-line basis over the period of the lease.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3	Staff numbers

The average number of persons employed by the company (including directors) during the year, was 23 (2024 - 27).

4	Tangible Assets

	Land and buildings £	Furniture, fittings and equipment  £	Other tangible assets £	Total £
Cost or valuation
At 1 April 2024	32,028	156,026	19,331	207,385
Additions	-	6,334	-	6,334
At 31 March 2025	32,028	162,360	19,331	213,719
Depreciation
At 1 April 2024	8,829	79,533	9,227	97,589
Charge for the year	4,414	27,386	3,867	35,667
At 31 March 2025	13,243	106,919	13,094	133,256
Carrying amount
At 31 March 2025	18,785	55,441	6,237	80,463
At 31 March 2024	23,199	76,493	10,104	109,796

Included within the net book value of land and buildings above is £12,642 (2024 - £15,065) in respect of long leasehold land and buildings and £6,143 (2024 - £8,134) in respect of short leasehold land and buildings.
 

5

Debtors

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

Current	2025 £	2024 £
Trade Debtors	159,961	247,175
Prepayments	39,861	42,787
Other debtors	12,290	16,305
	212,112	306,267

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

6

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings	7	8,388	8,305
Trade Creditors		72,668	65,911
Taxation and social security		127,417	154,041
Accruals and deferred income		35,334	5,104
Other creditors		6,739	15,753
		250,546	249,114

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings	7	23,226	28,753

Neuco Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2025

7	Loans and borrowings

Non-current loans and borrowings

	2025 £	2024 £
Bank borrowings	23,226	28,753

Current loans and borrowings

	2025 £	2024 £
Bank borrowings	6,219	6,219
Other borrowings	2,169	2,086
	8,388	8,305

8	Financial commitments, guarantees and contingencies

Amounts not provided for in the balance sheet

The total amount of financial commitments not included in the balance sheet is £265,318 (2024 - £132,920). These are annual commitments under non-cancellable operating leases. Financial commitments relate to operating lease payments committed to be paid over periods following the balance sheet date. The total commitment payable within one year is £190,422, witth the balance of comittments falling due for payment more than one year after the balance sheet date.