ACCOUNTS - Final Accounts preparation

ACCOUNTS - Final Accounts preparation

NEON LEARNING - Company Information

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Caseware UK (AP4) 2019.0.227 2019.0.227 2020-07-312020-07-312019-08-01The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true35falseNo description of principal activitytrue 11271305 2019-08-01 2020-07-31 11271305 2018-03-22 2019-07-31 11271305 2020-07-31 11271305 2019-07-31 11271305 c:Director2 2019-08-01 2020-07-31 11271305 d:CurrentFinancialInstruments 2020-07-31 11271305 d:CurrentFinancialInstruments 2019-07-31 11271305 d:CurrentFinancialInstruments d:WithinOneYear 2020-07-31 11271305 d:CurrentFinancialInstruments d:WithinOneYear 2019-07-31 11271305 d:RetainedEarningsAccumulatedLosses 2020-07-31 11271305 d:RetainedEarningsAccumulatedLosses 2019-07-31 11271305 c:FRS102 2019-08-01 2020-07-31 11271305 c:AuditExempt-NoAccountantsReport 2019-08-01 2020-07-31 11271305 c:FullAccounts 2019-08-01 2020-07-31 11271305 c:CompanyLimitedByGuarantee 2019-08-01 2020-07-31 iso4217:GBP xbrli:pure

Registered number: 11271305










NEON LEARNING
(A Company Limited by Guarantee)








UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JULY 2020
 
NEON LEARNING
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 11271305

STATEMENT OF FINANCIAL POSITION
AS AT 31 JULY 2020

2020
2019
Note
£
£

  

Current assets
  

Debtors: amounts falling due within one year
 4 
252,602
164,178

Cash at bank and in hand
 5 
41,774
107,113

  
294,376
271,291

Creditors: amounts falling due within one year
 6 
(271,879)
(268,859)

Net current assets
  
 
 
22,497
 
 
2,432

Total assets less current liabilities
  
22,497
2,432

  

Net assets
  
22,497
2,432


Capital and reserves
  

Profit and loss account
  
22,497
2,432

  
22,497
2,432


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 LEARNING
 
(A Company Limited by Guarantee)
REGISTERED NUMBER: 11271305
    
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: 






D C Johnson
Director

Date: 8 December 2020

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

Page 2
 
NEON LEARNING

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020

1.


General information

The company which is incorporated in England & Wales (registered number 11271305) is a privately
owned company limited by guarantee. The 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

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other
Page 3
 
NEON LEARNING

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020

2.Accounting policies (continued)


2.5
Financial instruments (continued)

third parties, loans to related parties and investments in ordinary shares.

 
2.6

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.

 
2.7

Finance costs

Finance costs are charged to the Statement of Comprehensive Income over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.8

Taxation

Tax is recognised in the Statement of Comprehensive Income, 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.

Page 4
 
NEON LEARNING

(A Company Limited by Guarantee)
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JULY 2020

3.


Employees

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


        2020
        2019
            No.
            No.







Employee
3
5


4.


Debtors

2020
2019
£
£


Trade debtors
196,413
130,126

Other debtors
2,004
-

Prepayments and accrued income
54,185
34,052

252,602
164,178



5.


Cash and cash equivalents

2020
2019
£
£

Cash at bank and in hand
41,774
107,113

41,774
107,113



6.


Creditors: Amounts falling due within one year

2020
2019
£
£

Corporation tax
4,706
570

Other taxation and social security
-
3,944

Other creditors
9,866
12,714

Accruals and deferred income
257,307
251,631

271,879
268,859


 
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