| Neil Foundations Systems Limited |
| Registered number: |
05040021 |
| Balance Sheet |
| as at 31 March 2025 |
|
| Notes |
|
|
2025 |
|
|
2024 |
| £ |
£ |
| Fixed assets |
| Tangible assets |
3 |
|
|
1,321,938 |
|
|
1,045,044 |
|
| Current assets |
| Stocks |
|
|
36,327 |
|
|
52,294 |
| Debtors |
4 |
|
1,641,192 |
|
|
1,960,426 |
| Cash at bank and in hand |
|
|
1,651,896 |
|
|
2,288,292 |
|
|
|
3,329,415 |
|
|
4,301,012 |
|
| Creditors: amounts falling due within one year |
5 |
|
(1,052,614) |
|
|
(1,670,205) |
|
| Net current assets |
|
|
|
2,276,801 |
|
|
2,630,807 |
|
| Total assets less current liabilities |
|
|
|
3,598,739 |
|
|
3,675,851 |
|
|
| Provisions for liabilities |
|
|
|
(328,257) |
|
|
(258,914) |
|
|
| Net assets |
|
|
|
3,270,482 |
|
|
3,416,937 |
|
|
|
|
|
|
|
|
| Capital and reserves |
| Called up share capital |
|
|
|
950 |
|
|
950 |
| Share premium |
|
|
|
12,095 |
|
|
12,095 |
| Profit and loss account |
|
|
|
3,257,437 |
|
|
3,403,892 |
|
| Shareholders' funds |
|
|
|
3,270,482 |
|
|
3,416,937 |
|
|
|
|
|
|
|
|
| The director is satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006. |
| The members have not required the company to obtain an audit in accordance with section 476 of the Act. |
| The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts. |
| The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies. |
|
|
|
|
| N A Miller |
| Director |
| Approved by the board on 10 December 2025 |
|
| Neil Foundations Systems Limited |
| Notes to the Accounts |
| for the year ended 31 March 2025 |
|
|
| 1 |
Accounting policies |
|
|
Basis of preparation |
|
he accounts have been prepared in accordance with Financial Reporting Standard 102 (FRS 102) and the Companies Act 2006 (as applicable to companies subject to the small company regime).
The significant accounting policies applied in the preparation of these statements are set out below. These policies have been consistently applied to all years presented unless otherwise stated. |
|
|
Turnover |
|
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the rendering of services. Turnover from contractual services is recognised based on an assessment of the value of works performed. The assessment is arrived at after due consideration of the stage of the work, measurement of works, and evaluations of costs against external certifications of the work performed. Profit is recognised based on the period of the contract after due consideration for contract costs. Profits are only recognised if the outcome of the contract is reasonably certain. Where the outcome cannot be measured reliably, turnover is recognised only to the extent of the expenses recognised that are recoverable. |
|
|
Tangible fixed assets |
|
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows: |
|
|
Plant and machinery |
over 3 to 5 years |
|
Motor vehicles |
over 3 years |
|
|
Stocks |
|
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised. |
|
|
Debtors |
|
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. |
|
|
Creditors |
|
Short term creditors are measured at transaction price (which is usually the invoice price). |
|
|
Taxation |
|
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference. Current and deferred tax assets and liabilities are not discounted. |
|
|
Government Grants |
|
Capital grants and other contributions received towards the cost of tangible fixed assets are included in creditors as deferred income and credited to the profit and loss account over the life of the asset.
Revenue grants are accounted using the accrual method and are recognised in income on a systematic basis over the period in which the related costs for which the grant is intended to compensate. Grants that become receivable as compensation for expenses or losses already incurred or for the purpose of giving immediate financial support, with no future related costs, are recognised in income in the period in which it becomes receivable. |
|
|
Provisions |
|
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
|
|
Foreign currency translation |
|
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss. |
|
|
Leased assets |
|
Leases in which substantially all the risks and rewards of ownership are retained by the lessor are classified as operating leases. Operating lease payments are recognised as an expense on a straight line basis over the lease term. |
|
|
Pensions |
|
Contributions to defined contribution plans are expensed in the period to which they relate. |
|
|
| 2 |
Employees |
2025 |
|
2024 |
| Number |
Number |
|
|
Average number of persons employed by the company |
27 |
|
30 |
|
|
|
|
|
|
|
|
|
|
| 3 |
Tangible fixed assets |
|
|
|
|
Plant and machinery etc |
|
Motor vehicles |
|
Total |
| £ |
£ |
£ |
|
Cost |
|
At 1 April 2024 |
3,422,139 |
|
319,176 |
|
3,741,315 |
|
Additions |
656,101 |
|
90,203 |
|
746,304 |
|
Disposals |
(474,723) |
|
(62,051) |
|
(536,774) |
|
At 31 March 2025 |
3,603,517 |
|
347,328 |
|
3,950,845 |
|
|
|
|
|
|
|
|
|
|
Depreciation |
|
At 1 April 2024 |
2,468,775 |
|
227,496 |
|
2,696,271 |
|
Charge for the year |
408,582 |
|
60,829 |
|
469,411 |
|
On disposals |
(474,724) |
|
(62,051) |
|
(536,775) |
|
At 31 March 2025 |
2,402,633 |
|
226,274 |
|
2,628,907 |
|
|
|
|
|
|
|
|
|
|
Net book value |
|
At 31 March 2025 |
1,200,884 |
|
121,054 |
|
1,321,938 |
|
At 31 March 2024 |
953,364 |
|
91,680 |
|
1,045,044 |
|
|
| 4 |
Debtors |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade debtors |
1,164,832 |
|
1,069,806 |
|
Other debtors |
476,360 |
|
890,620 |
|
|
|
|
|
|
1,641,192 |
|
1,960,426 |
|
|
|
|
|
|
|
|
|
|
| 5 |
Creditors: amounts falling due within one year |
2025 |
|
2024 |
| £ |
£ |
|
|
Trade creditors |
610,039 |
|
969,264 |
|
Amounts owed to group undertakings and undertakings in which the company has a participating interest |
|
159 |
|
159 |
|
Taxation and social security costs |
84,484 |
|
268,783 |
|
Other creditors |
357,932 |
|
431,999 |
|
|
|
|
|
|
1,052,614 |
|
1,670,205 |
|
|
|
|
|
|
|
|
|
|
| 6 |
Share capital |
Nominal |
|
2025 |
|
2025 |
|
2024 |
| value |
Number |
£ |
£ |
|
Allotted, called up and fully paid: |
|
Ordinary shares |
£1 each |
|
950 |
|
950 |
|
950 |
|
|
|
|
|
|
|
|
|
|
| 7 |
Pension commitments |
|
|
There are outstanding pension contributions at the year end of £4,041 (2024-£4,204). |
|
|
| 8 |
Other financial commitments |
2025 |
|
2024 |
| £ |
£ |
|
|
Total future minimum payments under non-cancellable operating leases |
|
150,788 |
|
248,966 |
|
|
|
|
|
|
|
|
|
|
| 9 |
Controlling party |
|
|
The company is wholly owned by Man Miller Holdings Limited, a company incorporated in England. Man Miller Holdings Limited has the same registered office as the company, as shown in note 10 below. |
|
|
| 10 |
Other information |
|
|
Neil Foundations Systems Limited is a private company limited by shares and incorporated in England. Its registered office is: |
|
Truemans End |
|
Lynchford Road |
|
Ash Vale |
|
Aldershot |
|
GU12 5PQ |