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Registration number: 10268845

Neotec Equipment GB Limited

Filleted Financial Statements

for the Year Ended 31 December 2022

 

Neotec Equipment GB Limited

Contents

Company Information

1

Director's Report

2

Balance Sheet

3

Notes to the Financial Statements

4 to 8

 

Neotec Equipment GB Limited

Company Information

Director

Pascal Jean Roux

Registered office

PO Box FCGB,
1 Lambeth Palace Road,
Becket House
London
SE1 7EU

Auditors

Carbon Accountancy Limited
Chartered Accountants
80-83 Long Lane
London
EC1A 9ET

 

Neotec Equipment GB Limited

Director's Report for the Year Ended 31 December 2022

The report and the financial statements for the year ended 31 December 2022.

Director of the company

The director who held office during the year was as follows:

Pascal Jean Roux

Principal activity

The principal activity of the company is of other engineering activities.

Going concern

The financial statments have been prepared on a going concern basis.

The company has full financial assistance(confirmed) from it's parent company to enable to continue operating and meeting it's liabilities as they fall due.
Covid-19 has significient impact on it's business.

Disclosure of information to the auditors

The director has taken steps that ought to have taken as a director in order to make aware of any relevant audit information and to establish that the company's auditors are aware of that information. The director confirms that there is no relevant information that of and of which the auditors are unaware.

Small companies provision statement

This report has been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

Approved and authorised by the director on 26 September 2023
 

.........................................
Pascal Jean Roux
Director

 

Neotec Equipment GB Limited

(Registration number: 10268845)
Balance Sheet as at 31 December 2022

Note

2022
£

2021
£

Current assets

 

Debtors

6

6,513

1,891

Cash at bank and in hand

 

-

3,181

 

6,513

5,072

Creditors: Amounts falling due within one year

7

(114,228)

(100,019)

Net liabilities

 

(107,715)

(94,947)

Capital and reserves

 

Called up share capital

8

100

100

Retained earnings

(107,815)

(95,047)

Shareholders' deficit

 

(107,715)

(94,947)

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 26 September 2023
 

.........................................
Pascal Jean Roux
Director

 

Neotec Equipment GB Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

1

General information

The company is a private company limited by share capital, incorporated in England.

The address of its registered office is:
PO Box FCGB,
1 Lambeth Palace Road,
Becket House
London
SE1 7EU
England

These financial statements were authorised for issue by the director on 26 September 2023.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

There was net deficiency of assets(£107,715) at the balance sheet date of which £105,915 related to amounts owing to group undertaking.The director has confirmed there will be continuing support from the parent for the next foreseable future and the parent has confirmed that it will not seek repayments of amount owing until the company is able to pay.

 

Neotec Equipment GB Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Audit report

The Independent Auditor's Report was unqualified. . The name of the Senior Statutory Auditor who signed the audit report on 3 October 2023 was John Leyden(Senior Statutory Auditor), who signed for and on behalf of Carbon Accountancy Limited.

.........................................

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

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 taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Neotec Equipment GB Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 0 (2021 - 1).

4

Auditors' remuneration

2022
£

2021
£

Audit of the financial statements

1,700

1,700

Other fees to auditors

All other assurance services

1,000

1,000


 

 

Neotec Equipment GB Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

5

Tangible assets

Motor vehicles
 £

Total
£

Cost or valuation

At 1 January 2022

16,320

16,320

Disposals

(16,320)

(16,320)

At 31 December 2022

-

-

Depreciation

At 1 January 2022

16,320

16,320

Eliminated on disposal

(16,320)

(16,320)

At 31 December 2022

-

-

Carrying amount

At 31 December 2022

-

-

6

Debtors

Current

2022
£

2021
£

Prepayments

437

234

Other debtors

6,076

1,657

7

Creditors

Creditors: amounts falling due within one year

Note

2022
£

2021
£

Due within one year

 

Trade creditors

 

2,336

5,140

Amounts owed to group undertakings and undertakings in which the company has a participating interest

9

105,917

91,604

Accruals and deferred income

 

5,975

3,275

 

114,228

100,019

8

Share capital

Allotted, called up and fully paid shares

 

Neotec Equipment GB Limited

Notes to the Financial Statements for the Year Ended 31 December 2022

 

2022

2021

 

No.

£

No.

£

Ordinary share of £1 each

100

100

100

100

         

9

Related party transactions

Summary of transactions with parent

Neotec SAS
(Parent)
During the period company invoiced for the provision of services to Neotec SAS in the sum of £0 (2021: £15l).

Novaera Services
(Ultimate parent)
During the period company invoiced for the provision of services to Novaera Services in the sum of £0 (2021: £0).

 

Loans from related parties

2022

Parent
£

Other related parties
£

Total
£

At start of period

73,418

18,186

91,604

Advanced

9,416

-

9,416

Revaluation

4,612

285

4,897

At end of period

87,446

18,471

105,917

2021

Parent
£

Other related parties
£

Total
£

At start of period

56,144

5,610

61,754

Advanced

22,496

12,980

35,476

Repaid

(115)

-

(115)

Impairment

(5,107)

(404)

(5,511)

At end of period

73,418

18,186

91,604

10

Parent and ultimate parent undertaking

The company's immediate parent is Neotec SAS, incorporated in France.

 The ultimate parent is Novaera Services, incorporated in France.