NEUROLAB (UK) LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH JANUARY 2018

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

A Khodadi

M Khodadi

M L Hanson

M C Hanson

REGISTERED OFFICE:

Commerce Court

Challenge Way

Bradford

West Yorkshire

BD4 8NW

REGISTERED NUMBER:

09118439 (England and Wales)

ACCOUNTANTS:

Wilkinson and Partners

Chartered Accountants

Fairfax House

6a Mill Field Road

Cottingley Business Park

Bradford

West Yorkshire

BD16 1PY

FIXED ASSETS

Intangible assets

4

4,631

4,631

CURRENT ASSETS

Stocks

5

2,050

3,500

Debtors

6

1,313

2,462

Cash at bank and in hand

2,986

2,969

6,349

8,931

CREDITORS

Amounts falling due within one year

7

45,602

34,941

NET CURRENT LIABILITIES

(39,253

)

(26,010

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(34,622

)

(21,379

)

CAPITAL AND RESERVES

Called up share capital

4

4

Retained earnings

(34,626

)

(21,383

)

SHAREHOLDERS' FUNDS

(34,622

)

(21,379

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th January 2018.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th January 2018 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 of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the Board of Directors on 24th October 2018 and were signed on its behalf by:

M Khodadi - Director

1.	STATUTORY INFORMATION

Neurolab (UK) Ltd 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 the provisions of Section 1A "Small Entities" of Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" 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.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Patents and licences are being amortised evenly over their estimated useful life of ten years.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and

slow moving items.

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.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2017 - NIL).

4.	INTANGIBLE FIXED ASSETS

Patents

and

licences

£

COST

At 31st January 2017

and 30th January 2018

4,631

NET BOOK VALUE

At 30th January 2018

4,631

At 30th January 2017

4,631

The intangible assets relate to trademarks registered by the company. As the company were still developing

the product and at the early stage of marketing no amortisation was considered necessary.

5.

STOCKS

2018

2017

£

£

Stocks

2,050

3,500

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade debtors

1,309

2,458

Called up share capital not paid

4

4

1,313

2,462

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2018

2017

£

£

Trade creditors

780

59

Other creditors

40,950

30,950

Directors' current accounts

3,068

3,068

Accrued expenses

804

864

45,602

34,941

8.	ULTIMATE CONTROLLING PARTY

There is no ultimate controlling party.