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Company registration number:11969143
THE NEO'S WHOLESALE LTD
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 April 2023
THE NEO'S WHOLESALE LTD
BALANCE SHEET
AS AT 30 April 2023
2023 2022
Notes £ £ £ £
FIXED ASSETS
Tangible assets375,31935,135
75,31935,135
CURRENT ASSETS
Stocks371,570415,148
Debtors4184,365200,499
Cash at bank and in hand315,54457,159
871,479672,806
CREDITORS
Amounts falling due within one year 5 (593,860) (501,773)
NET CURRENT ASSETS 277,619 171,033
TOTAL ASSETS LESS
CURRENT LIABILITIES 352,938 206,168
Creditors falling due after one year6(57,587)(36,758)
PROVISIONS FOR LIABILITIES(14,311)(6,676)
NET ASSETS 281,040 162,734
CAPITAL AND RESERVES
Called-up equity share capital 7 100 100
Profit and loss account 280,940 162,634
SHAREHOLDERS FUNDS 281,040 162,734
For the year ending 30 April 2023 the company was entitled to exemption under section 477 of the Companies Act 2006 relating to small companies.
The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of the accounts.
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. Approved by the board of directors on 12 October 2023 and signed on its behalf.
The profit and loss account has not been delivered to the Registrar of Companies in accordance with the special provisions applicable to companies subject to the small companies' regime.
..........................................................................
Mr Zhaoxiong Gao
12 October 2023
The annexed notes form part of these financial statements.

THE NEO'S WHOLESALE LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 APRIL 2023
Share Share P and L Revaluation Other Total
Capital Premium Account reserve reserves equity
£ £ £ £ £ £
Balance at 1 May 20211000144,54900144,649
Changes in equity
Dividend00(3,152)00(3,152)
Total Comprehensive Income0021,2370021,237
Balance at 30 April 20221000162,63400162,734
Changes in equity
Dividend00(1,153)00(1,153)
Total comprehensive income00119,45900119,459
Balance at 30 April 20231000280,94000281,040

THE NEO'S WHOLESALE LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2023
1. Accounting policies
Statutory information
The company is registered in England and its registered number is 11969143. The company is a private company limited by shares. Its registered office is Unit's D1 & D2, 13-19 Stroud Road, Gloucester, GL1
Basis of preparing the financial statements
The financial statements have been prepared under the historical cost convention in accordance with the accounting policies set out below. These financial statements have been prepared in accordance with FRS102 Section 1A - The Financial Reporting Standard applicable in the UK and Republic of Ireland and the Companies Act 2006.
Turnover
Turnover represents sales of goods net of VAT and trade discounts. Turnover is recognised when the goods are physically delivered to the customer.
Fixed Assets
Tangible fixed assets are stated at cost less depreciation Depreciation is provided at rates calculated to write off the cost or valuation of fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant and Machinery 33% per annum of cost
Fixtures and Fittings 15 % reducing balance basis
Motor Vehicles 25 % reducing balance basis
Stocks and Work In Progress
Stock is valued at the lower of cost and net realisable value. Cost is determined on a first in first out basis. Net realisable value represents estimated selling price less costs to complete and sell. Provision is made for slow moving, obsolete or damaged stock where the net realisable value is less than cost.
Leasing
Assets obtained under hire purchase contracts and finance leases are capitalised as tangible fixed assets and depreciated over the shorter of the lease term and their useful lives. Finance leases are those where substantially all of the benefits and risks of ownership are assumed by the company. Obligations under such agreements are included in creditors net of the finance charge allocated to future periods. The finance element of the rental payment is charged to the profit and loss account so as to produce a constant periodic rate of charge on the net obligation outstanding in each period.
Government grants
The Retail, Hospitality and Leisure Grant is recognised as income in the period in which it becomes receivable. The first 12 months interest on the Bounce Back Loan is recognised in the period it is payable.
Deferred Taxation
Deferred tax is provided on the liability method take account of timing differences between the treatment of certain items for accounts purposes and their treatment for tax purposes. Tax deferred or accelerated is accounted for in respect of all material timing differences.
Pension Scheme
The company operates a defined contribution pension scheme, NEST pension scheme, and the pension charge represents the amounts payable by the company to the fund in respect of the year.
2.Employees
The average number of persons employed by the company (including directors) during the year was 7.
3.Tangible fixed assets
Plant Motor F and F Total
Cost
At start of period 22,841 49,932 607 73,380
Additions 774 79,290 0 80,064
Disposals (8,250) (21,737) (0) (29,987)
At end of period 15,365 107,485 607 123,457
Depreciation
At start of period 11,756 26,378 111 38,245
Provided during the period 4,467 23,418 74 27,959
On disposals (5,500) (12,566) (0) (18,066)
At end of period 10,723 37,230 185 48,138
Net Book Value
At start of period 11,085 23,554 496 35,135
At end of period 4,642 70,255 422 75,319
4.Debtors
20232022
££
Due within one year
Trade Debtors172,742178,671
Other Debtors5,6158,810
Prepayments and accrued income6,00813,018
184,365200,499
5.Creditors due within one year
20232022
££
Obligations under finance leases27,4143,603
Trade creditors524,059463,679
Bank Loans and Overdrafts9,0009,000
Corporation Tax19,6636,576
Other taxes and social security costs1,756248
Accruals and deferred income11,9688,270
Loan from directors010,400
593,860 501,773
6.Creditors due after one year
20232022
££
Bank Loans18,75027,750
Obligations under finance leases38,8379,008
57,587 36,758
7. Share capital Alloted, Issued and fully paid
2023 2022
£ £
Ordinary shares of £1 each100100
Total issued share capital100100
8.Related Party Transactions
There were no related party transactions in which the director has a direct and material interest.