REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
Neuff Athletic Equipment Limited |
REGISTERED NUMBER: |
FINANCIAL STATEMENTS FOR THE YEAR ENDED 31 OCTOBER 2023 |
FOR |
Neuff Athletic Equipment Limited |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
CONTENTS OF THE FINANCIAL STATEMENTS |
for the year ended 31 October 2023 |
Page |
Company Information | 1 |
Balance Sheet | 2 | to | 3 |
Notes to the Financial Statements | 4 | to | 7 |
Neuff Athletic Equipment Limited |
COMPANY INFORMATION |
for the year ended 31 October 2023 |
Directors: |
Secretary: |
Registered office: |
Registered number: |
Accountants: |
129 North Hill |
Plymouth |
Devon |
PL4 8JY |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
BALANCE SHEET |
31 October 2023 |
2023 | 2022 |
Notes | £ | £ | £ | £ |
Fixed assets |
Intangible assets | 4 |
Tangible assets | 5 |
Current assets |
Stocks | 6 |
Debtors | 7 |
Prepayments and accrued income |
Cash at bank and in hand |
Creditors |
Amounts falling due within one year | 8 |
Net current assets |
Total assets less current liabilities |
Creditors |
Amounts falling due after more than one year |
9 |
Net liabilities | ( |
) | ( |
) |
Capital and reserves |
Called up share capital | 10 |
Capital redemption reserve |
Retained earnings | ( |
) | ( |
) |
Shareholders' funds | ( |
) | ( |
) |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
BALANCE SHEET - continued |
31 October 2023 |
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. |
In accordance with Section 444 of the Companies Act 2006, the Profit & Loss Account has not been delivered. |
The financial statements were approved by the Board of Directors and authorised for issue on |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
NOTES TO THE FINANCIAL STATEMENTS |
for the year ended 31 October 2023 |
1. | STATUTORY INFORMATION |
Neuff Athletic Equipment Limited is a private company, limited by shares, registered in England and Wales. The company's registered number, business address and registered office address can be found on the company information page. |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
Going Concern |
The financial statements have been prepared on the going concern basis. This basis assumes that the company will have sufficient funding to enable it to continue to operate for the foreseeable future with the support of the directors, who believe that the going concern basis of preparation remains appropriate in the company's circumstances. |
Turnover |
Turnover is measured at the fair value of the consideration 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 goods have transferred to the buyer. |
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. |
Tangible fixed assets |
Freehold property | - |
Plant and machinery | - |
Website | - |
Computer equipment | - |
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. |
Debtors |
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts. |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
2. | ACCOUNTING POLICIES - continued |
Creditors |
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method. |
Provisions |
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably. |
3. | EMPLOYEES AND DIRECTORS |
The average number of employees during the year was |
4. | INTANGIBLE FIXED ASSETS |
Patents |
and |
Goodwill | licences | Totals |
£ | £ | £ |
Cost |
At 1 November 2022 |
and 31 October 2023 |
Amortisation |
At 1 November 2022 |
and 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
5. | TANGIBLE FIXED ASSETS |
Freehold | Plant and | Computer |
property | machinery | Website | equipment | Totals |
£ | £ | £ | £ | £ |
Cost |
At 1 November 2022 |
Additions |
At 31 October 2023 |
Depreciation |
At 1 November 2022 |
Charge for year |
At 31 October 2023 |
Net book value |
At 31 October 2023 |
At 31 October 2022 |
Included in cost of land and buildings is freehold land of £ 40,000 (2022 - £ 40,000 ) which is not depreciated. |
6. | STOCKS |
2023 | 2022 |
£ | £ |
Stocks |
7. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Trade debtors |
Other debtors |
8. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans and overdrafts |
Trade creditors |
Tax |
Social security and other taxes |
VAT | 6,102 | 2,032 |
Directors' current accounts | 79,726 | 82,129 |
Accrued expenses |
Neuff Athletic Equipment Limited (Registered number: 06306211) |
NOTES TO THE FINANCIAL STATEMENTS - continued |
for the year ended 31 October 2023 |
9. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
2023 | 2022 |
£ | £ |
Bank loans more than 1 year |
Other loans | 490,488 | 493,430 |
10. | CALLED UP SHARE CAPITAL |
Allotted, issued and fully paid: |
Number: | Class: | Nominal | 2023 | 2022 |
value: | £ | £ |
Ordinary | £1 | 100 | 100 |
11. | RELATED PARTY DISCLOSURES |
As at the 31st October 2023 the company owed the director, S Cunningham Neuff £240,987. S Cunningham Neuff opted to forgo any interest being applied to the loan. |
As at the 31st October 2023 the company additionally owed the director, S Cunningham Neuff £61,352. This loan is interest free, unsecured and carries no fixed term of repayment. |
As at the 31st October 2023 the company owed the director, M Cunningham Neuff £18,374. This loan is interest free, unsecured and carries no fixed term of repayment. |
As at the 31st October 2023 the company owed the former director, R Neuff £249,501. R Neuff opted to forgo any interest being applied to the loan. |
12. | ULTIMATE CONTROLLING PARTY |
The company was under the control of its directors throughout the period. |