Registered number
Neural Insights Limited
Filleted Accounts
30 April 2018
Neural Insights Limited
Registered number: 04408962
Balance Sheet
as at 30 April 2018
Notes 2018 2017
£ £
Fixed assets
Tangible assets 2 3,564 804
Current assets
Debtors 3 1,365 -
Cash at bank and in hand 20,030 19,540
21,395 19,540
Creditors: amounts falling due within one year 4 (12,040) (35,814)
Net current assets/(liabilities) 9,355 (16,274)
Net assets/(liabilities) 12,919 (15,470)
Capital and reserves
Called up share capital 75 75
Profit and loss account 12,844 (15,545)
Shareholders' funds 12,919 (15,470)
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Dr S Christie
Approved by the board on 10 January 2019
Neural Insights Limited
Notes to the Accounts
for the year ended 30 April 2018
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 33% straight line
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. 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, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
2 Tangible fixed assets
Plant and machinery etc
At 1 May 2017 24,858
Additions 4,710
At 30 April 2018 29,568
At 1 May 2017 24,054
Charge for the year 1,950
At 30 April 2018 26,004
Net book value
At 30 April 2018 3,564
At 30 April 2017 804
3 Debtors 2018 2017
£ £
Other debtors 1,365 -
4 Creditors: amounts falling due within one year 2018 2017
£ £
Taxation and social security costs 11,432 35,213
Other creditors 608 601
12,040 35,814
5 Controlling party
The company is controlled by the director, Mrs G Christie by virtue of her majority shareholding.
6 Other information
Neural Insights Limited is a private company limited by shares and incorporated in England. Its registered office is:
Elderslie Stane Street
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