Registration number: 05306425

Neutronics (NE) Limited

(Registration number: 05306425)
Statement of Financial Position as at 31 December 2025

	Note	2025 £	2024 £
Fixed assets
Tangible assets	5	322,899	500,374
Current assets
Stocks		40,897	30,571
Debtors	6	461,603	286,706
Cash at bank and in hand		259,771	134,822
		762,271	452,099
Creditors: Amounts falling due within one year	7	(371,692)	(301,716)
Net current assets		390,579	150,383
Total assets less current liabilities		713,478	650,757
Creditors: Amounts falling due after more than one year	7	-	(7,795)
Provisions for liabilities		(19,739)	(69,078)
Net assets		693,739	573,884
Capital and reserves
Called up share capital		1	1
Retained earnings		693,738	573,883
Shareholders' funds		693,739	573,884

Neutronics (NE) Limited

(Registration number: 05306425)
Statement of Financial Position as at 31 December 2025

For the financial year ending 31 December 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 Income Statement.

Approved and authorised by the Board on 24 September 2026 and signed on its behalf by:
 

......................................... J D Duffield Director

......................................... Mr R Mcrae Director

......................................... Mr I J Nasser Director

Neutronics (NE) Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 December 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:
Unit 6,
North Hylton Enterprise Park,
Hepworth Road
Sunderland
SR5 3JT
United Kingdom

These financial statements were authorised for issue by the Board on 24 September 2026.

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 accounts are presented in £ sterling, which is the functional currency of the company. Monetary amounts
in these financial statements are rounded to the nearest £.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and 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.

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.

Neutronics (NE) Limited

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

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 tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when 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 and that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are stated in the statement of financial position 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
Freehold Property	2% straight line
Plant & Machinery	20% reducing balance
Fixtures & Fittings	20-25% reducing balance
Motor Vehicles	20% straight line

Goodwill

Goodwill arising on the acquisition of an entity represents the excess of the cost of acquisition over the company’s interest in the net fair value of the identifiable assets, liabilities and contingent liabilities of the entity recognised at the date of acquisition. Goodwill is initially recognised as an asset at cost and is subsequently measured at cost less accumulated amortisation and accumulated impairment losses. Goodwill is held in the currency of the acquired entity and revalued to the closing rate at each reporting period date. Goodwill is amortised over its useful life, which shall not exceed ten years if a reliable estimate of the useful life cannot be made.

Amortisation

Amortisation is provided on intangible assets so as to write off the cost, less any estimated residual value, over their useful life as follows:

Asset class	Amortisation method and rate
Goodwill	25% straight line
Intellectual property	33.33% straight line

Neutronics (NE) Limited

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

Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first-in, first-out (FIFO) method.

The cost of finished goods and work in progress comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the inventories to their present location and condition. At each reporting date, stocks are assessed for impairment. If stocks are impaired, the carrying amount is reduced to its selling price less costs to complete and sell; the impairment loss is recognised immediately in profit or loss.

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.

Leases are classified as finance leases whenever the terms of the lease transfer substantially all the risks and rewards of ownership to the lessee.

Assets held under finance leases are recognised at the lower of their fair value at inception of the lease and the present value of the minimum lease payments. These assets are depreciated on a straight-line basis over the shorter of the useful life of the asset and the lease term. The corresponding liability to the lessor is included in the statement of financial position as a finance lease obligation.

Lease payments are apportioned between finance costs in the income statement and reduction of the lease obligation so as to achieve a constant periodic rate of interest on the remaining balance of the liability.

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 18 (2024 - 19).

Neutronics (NE) Limited

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

4	Intangible assets

	Goodwill  £	Other intangible assets  £	Total £
Cost or valuation
At 1 January 2025	36,653	5,000	41,653
At 31 December 2025	36,653	5,000	41,653
Amortisation
At 1 January 2025	36,653	5,000	41,653
At 31 December 2025	36,653	5,000	41,653
Carrying amount
At 31 December 2025	-	-	-

5	Tangible assets

	Land and buildings  £	Fixtures and fittings £	Plant and machinery £	Motor vehicles  £
Cost or valuation
At 1 January 2025	328,485	128,686	146,030	219,385
Additions	-	5,745	808	-
Disposals	-	(31,170)	(8,238)	(162,733)
Transfers	31,299	-	(31,299)	-
At 31 December 2025	359,784	103,261	107,301	56,652
Depreciation
At 1 January 2025	108,278	75,112	101,137	37,686
Charge for the year	3,909	28,964	3,970	19,396
Eliminated on disposal	-	(27,429)	(7,659)	(39,265)
Transfers	3,652	-	(6,260)	2,608
At 31 December 2025	115,839	76,647	91,188	20,425
Carrying amount
At 31 December 2025	243,945	26,614	16,113	36,227
At 31 December 2024	220,207	54,703	46,374	179,090

Neutronics (NE) Limited

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

	Total £
Cost or valuation
At 1 January 2025	822,586
Additions	6,553
Disposals	(202,141)
Transfers	-
At 31 December 2025	626,998
Depreciation
At 1 January 2025	322,213
Charge for the year	56,239
Eliminated on disposal	(74,353)
Transfers	-
At 31 December 2025	304,099
Carrying amount
At 31 December 2025	322,899
At 31 December 2024	500,374

Neutronics (NE) Limited

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

6

Debtors

Current	2025 £	2024 £
Trade debtors	448,072	282,565
Prepayments	13,065	-
Other debtors	466	4,141
	461,603	286,706

7

Creditors

Creditors: amounts falling due within one year

	Note	2025 £	2024 £
Due within one year
Loans and borrowings		50,784	96,684
Trade creditors		87,667	43,443
Taxation and social security		189,119	90,799
Accruals and deferred income		42,896	70,552
Other creditors		1,226	238
		371,692	301,716

Included within loans and borrowings are net obligations under finance lease and hire purchase contracts which are secured of £nil (2024 - £18,135). Also included within loans and borrowings are are secured amounts of £50,784 (2024 - £78,549) relating to trade sales factored through an invoice discounting scheme.

Creditors: amounts falling due after more than one year

	Note	2025 £	2024 £
Due after one year
Loans and borrowings		-	7,795

Included within loans and borrowings are net obligations under finance lease and hire purchase contracts which are secured of £nil (2024 - £7,795).

8	Parent and ultimate parent undertaking

The company's immediate parent is Neutronics EOT Limited, incorporated in England & Wales.

 

Neutronics (NE) Limited

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

9	Significant charge over assets

Mr LN Kostalas holds a charge over all freehold and leasehold assets of the company, which is subordinate to a first charge over the company's assets held by Lloyds Commercial Finance.