ACCOUNTS - Final Accounts preparation

NEON LEARNING - Company Information

Print Friendly Version

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 2021

NEON LEARNING

(A Company Limited by Guarantee)

REGISTERED NUMBER: 11271305

STATEMENT OF FINANCIAL POSITION

AS AT 31 JULY 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	163,449		252,602
Cash at bank and in hand	5	82,340		41,774
		245,789		294,376
Creditors: amounts falling due within one year	6	(245,717)		(271,879)
Net current assets			72		22,497
Total assets less current liabilities			72		22,497

Net assets			72		22,497

Capital and reserves
Profit and loss account	72	22,497
	72	22,497

Page 1

NEON LEARNING

(A Company Limited by Guarantee)

REGISTERED NUMBER: 11271305

STATEMENT OF FINANCIAL POSITION (CONTINUED)

AS AT 31 JULY 2021

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.

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

S L Foster

Director

Date: 26 January 2022

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 2021

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

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.

Page 3

NEON LEARNING

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

2.Accounting policies (continued)

2.4

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.

2.5

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.

2.6

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

2.7

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.

2.8

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.

Page 4

NEON LEARNING

(A Company Limited by Guarantee)

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JULY 2021

Employees

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

	2021	2020
	No.	No.

Employee	5	3

Debtors

					2021	2020
					£	£


Trade debtors	146,171	196,413
Other debtors	4,706	2,004
Prepayments and accrued income	12,572	54,185
	163,449	252,602

5.	Cash and cash equivalents
		2021	2020
		£	£

Cash at bank and in hand	82,340	41,774
	82,340	41,774

6.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Trade creditors	44,907	-
Corporation tax	-	4,706
Other taxation and social security	1,838	-
Other creditors	34,151	9,866
Accruals and deferred income	164,821	257,307
	245,717	271,879

Page 5