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Company Registration No. 11853428 (England and Wales)
Neil Faux Ltd Unaudited accounts for the year ended 28 February 2023
Neil Faux Ltd Unaudited accounts Contents
Page
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Neil Faux Ltd Company Information for the year ended 28 February 2023
Director
Mr N Faux
Company Number
11853428 (England and Wales)
Registered Office
101 WESTFIELDS DRIVE BOOTLE MERSEYSIDE L20 6GJ
Accountants
French & Co 166 Linacre Road Litherland Liverpool Merseyside L21 8JU
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Chartered Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of Neil Faux Ltd for the year ended 28 February 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of Neil Faux Ltd for the year ended 28 February 2023 as set out on pages 5 - 7 from the company's accounting records and from information and explanations you have given us.
As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at icaew.com/membershandbook.
This report is made solely to the Board of Directors of Neil Faux Ltd, as a body, in accordance with the terms of our engagement letter dated 17 December 2020. Our work has been undertaken solely to prepare for your approval the accounts of Neil Faux Ltd and state those matters that we have agreed to state to the Board of Directors of Neil Faux Ltd, as a body, in this report in accordance with AAF 07/16 as detailed at icaew.com/compilation. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neil Faux Ltd and its Board of Directors as a body for our work or for this report.
It is your duty to ensure that Neil Faux Ltd has kept adequate accounting records and to prepare statutory accounts that give a true and fair view of the assets, liabilities, financial position and loss of Neil Faux Ltd. You consider that Neil Faux Ltd is exempt from the statutory audit requirement for the year.
We have not been instructed to carry out an audit or a review of the accounts of Neil Faux Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory accounts.
French & Co Chartered Accountants 166 Linacre Road Litherland Liverpool Merseyside L21 8JU 20 November 2023
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Neil Faux Ltd Statement of financial position as at 28 February 2023
2023 
2022 
Notes
£ 
£ 
Current assets
Debtors
13,350 
16,141 
Cash at bank and in hand
12 
508 
13,362 
16,649 
Creditors: amounts falling due within one year
(4,187)
(278)
Net current assets
9,175 
16,371 
Total assets less current liabilities
9,175 
16,371 
Creditors: amounts falling due after more than one year
(13,333)
(20,000)
Net liabilities
(4,158)
(3,629)
Capital and reserves
Called up share capital
1 
1 
Profit and loss account
(4,159)
(3,630)
Shareholders' funds
(4,158)
(3,629)
For the year ending 28 February 2023 the company was entitled to exemption from audit 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 accounts.
These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 20 November 2023 and were signed on its behalf by
Mr N Faux Director Company Registration No. 11853428
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Neil Faux Ltd Notes to the Accounts for the year ended 28 February 2023
1
Statutory information
Neil Faux Ltd is a private company, limited by shares, registered in England and Wales, registration number 11853428. The registered office is 101 WESTFIELDS DRIVE, BOOTLE, MERSEYSIDE, L20 6GJ.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
3
Accounting policies
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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.
Deferred taxation
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws. Deferred tax assets and liabilities are not discounted.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
4
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
Other debtors
13,350 
16,141 
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Neil Faux Ltd Notes to the Accounts for the year ended 28 February 2023
5
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
4,000 
- 
Taxes and social security
7 
8 
Accruals
180 
270 
4,187 
278 
6
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
13,333 
20,000 
7
Average number of employees
During the year the average number of employees was 0 (2022: 1).
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