Neurosolutions Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04199343 (England and Wales)

NEUROSOLUTIONS LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2019

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Prof D C Spanswick

Dr F Y Zhao

REGISTERED OFFICE:

c/o Band Hatton Button

25 Warwick Road

Coventry

West Midlands

CV1 2EZ

REGISTERED NUMBER:

04199343 (England and Wales)

ACCOUNTANTS:

Murphy Salisbury Limited

Chartered Accountants

15 Warwick Road

Stratford upon Avon

Warwickshire

CV37 6YW

FIXED ASSETS

Tangible assets

4

15,632

19,134

CURRENT ASSETS

Debtors

5

916,439

1,121,504

Cash at bank and in hand

714,735

377,699

1,631,174

1,499,203

CREDITORS

Amounts falling due within one year

6

93,632

98,263

NET CURRENT ASSETS

1,537,542

1,400,940

TOTAL ASSETS LESS CURRENT LIABILITIES

1,553,174

1,420,074

CAPITAL AND RESERVES

Called up share capital

871

871

Share premium

7,950

7,950

Retained earnings

1,544,353

1,411,253

SHAREHOLDERS' FUNDS

1,553,174

1,420,074

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 April 2019 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors on 15 November 2019 and were signed on its behalf by:

Prof D C Spanswick - Director

1.	STATUTORY INFORMATION

Neurosolutions Limited is a private company, limited by shares , registered in England and Wales. The

company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Plant and machinery etc

-

20% straight line basis

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 balance sheet date.

Deferred tax

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.

Hire purchase and leasing commitments

Rentals paid under operating leases are charged to profit or loss on a straight line basis over the period of the

lease.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension

scheme are charged to profit or loss in the period to which they relate.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 11 (2018 - 9 ) .

4.	TANGIBLE FIXED ASSETS

Plant and

machinery

etc

£

COST

At 1 May 2018

39,202

Disposals

(974

)

At 30 April 2019

38,228

DEPRECIATION

At 1 May 2018

20,068

Charge for year

3,134

Eliminated on disposal

(606

)

At 30 April 2019

22,596

NET BOOK VALUE

At 30 April 2019

15,632

At 30 April 2018

19,134

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade debtors

135,776

447,317

Amounts owed by group undertakings

442,938

451,859

Other debtors

337,725

222,328

916,439

1,121,504

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Trade creditors

31,707

67,442

Amounts owed to group undertakings

16,389

-

Taxation and social security

9,171

-

Other creditors

36,365

30,821

93,632

98,263

7.	ULTIMATE CONTROLLING PARTY

The controlling party is Sevco 5023 Limited.