ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

NEON CREATE LTD - Company Information

Print Friendly Version

Caseware UK (AP4) 2019.0.227 2019.0.227 2020-07-312020-07-314The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2019-08-014falseNo description of principal activitytruetrue 11264644 2019-08-01 2020-07-31 11264644 2018-03-20 2019-07-31 11264644 2020-07-31 11264644 2019-07-31 11264644 c:Director3 2019-08-01 2020-07-31 11264644 d:CurrentFinancialInstruments 2020-07-31 11264644 d:CurrentFinancialInstruments 2019-07-31 11264644 d:CurrentFinancialInstruments d:WithinOneYear 2020-07-31 11264644 d:CurrentFinancialInstruments d:WithinOneYear 2019-07-31 11264644 d:ShareCapital 2020-07-31 11264644 d:ShareCapital 2019-07-31 11264644 d:RetainedEarningsAccumulatedLosses 2020-07-31 11264644 d:RetainedEarningsAccumulatedLosses 2019-07-31 11264644 c:OrdinaryShareClass1 2019-08-01 2020-07-31 11264644 c:OrdinaryShareClass1 2020-07-31 11264644 c:OrdinaryShareClass1 2019-07-31 11264644 c:FRS102 2019-08-01 2020-07-31 11264644 c:AuditExempt-NoAccountantsReport 2019-08-01 2020-07-31 11264644 c:FullAccounts 2019-08-01 2020-07-31 11264644 c:PrivateLimitedCompanyLtd 2019-08-01 2020-07-31 xbrli:shares iso4217:GBP xbrli:pure

Registered number: 11264644










NEON CREATE LTD








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2020
 
NEON CREATE LTD
REGISTERED NUMBER: 11264644

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
104,525
74,078

Cash at bank and in hand
  
202,563
78,050

  
307,088
152,128

Creditors: amounts falling due within one year
 5 
(141,427)
(128,330)

Net current assets
  
 
 
165,661
 
 
23,798

Total assets less current liabilities
  
165,661
23,798

  

Net assets
  
165,661
23,798


Capital and reserves
  

Called up share capital 
 6 
100
100

Profit and loss account
  
165,561
23,698

  
165,661
23,798


The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The Company's financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime.

The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.






 
Page 1
 
NEON CREATE LTD
REGISTERED NUMBER: 11264644
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 31 JULY 2020


The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 






................................................
S E Burnell
Director

Date: 9 December 2020

The notes on pages 3 to 5 form part of these financial statements.

Page 2
 
NEON CREATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020

1.


General information

Neon Create Limited, registered company number 11264644, is a private company limited by shares and incorporated in England & Wales. Its registered office is Wey Court West, Union Road, Farnham, Surrey, GU9 7PT.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

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. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
∙the amount of revenue can be measured reliably;
∙it is probable that the Company will receive the consideration due under the contract;
∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and
∙the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Debtors

Short term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.4

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.

 
2.5

Creditors

Short term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

Page 3
 
NEON CREATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020

2.Accounting policies (continued)

 
2.6

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Statement of financial position. The assets of the plan are held separately from the Company in independently administered funds.

 
2.7

Taxation

Tax is recognised in profit or loss 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.

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 income.


3.


Employees

The average monthly number of employees, including the directors, during the year was as follows:


        2020
        2019
            No.
            No.







Directors
4
4


4.


Debtors

2020
2019
£
£


Other debtors
5,358
3,071

Prepayments and accrued income
99,167
71,007

104,525
74,078


Page 4
 
NEON CREATE LTD
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020

5.


Creditors: Amounts falling due within one year

2020
2019
£
£

Corporation tax
33,277
5,559

Other taxation and social security
29,306
14,064

Other creditors
19,304
16,044

Accruals and deferred income
59,540
92,663

141,427
128,330



6.


Share capital

2020
2019
£
£
Allotted, called up and fully paid



100 (2019 - 100) Ordinary shares of £1 each
100
100

 
Page 5