Registered number
04385709
NEAT PRODUCTS LTD
Filleted Accounts
30 April 2023
NEAT PRODUCTS LTD
Registered number: 04385709
Balance Sheet
as at 30 April 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 2,182 1,976
Current assets
Stocks 38,000 36,599
Debtors 4 11,946 2,068
Cash at bank and in hand 18,657 19,110
68,603 57,777
Creditors: amounts falling due within one year 5 (34,546) (38,191)
Net current assets 34,057 19,586
Net assets 36,239 21,562
Capital and reserves
Called up share capital 5 5
Profit and loss account 36,234 21,557
Shareholders' funds 36,239 21,562
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.
Mr P Hall
Director
Approved by the board on 6 June 2023
NEAT PRODUCTS LTD
Notes to the Accounts
for the year ended 30 April 2023
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
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 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2022 14,723 7,000 21,723
Additions 934 - 934
At 30 April 2023 15,657 7,000 22,657
Depreciation
At 1 May 2022 12,969 6,778 19,747
Charge for the year 672 56 728
At 30 April 2023 13,641 6,834 20,475
Net book value
At 30 April 2023 2,016 166 2,182
At 30 April 2022 1,754 222 1,976
4 Debtors 2023 2022
£ £
Trade debtors 11,946 568
Other debtors - 1,500
11,946 2,068
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 15,785 20,648
Trade creditors 8,650 5,070
Corporation tax 6,091 4,579
Other taxes and social security costs 3,939 3,902
Other creditors 81 3,992
34,546 38,191
6 Other information
NEAT PRODUCTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
The Old Chapel
Halifax Road
Keighley
BD22 8EE
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