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REGISTERED NUMBER: 06306211 (England and Wales)















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: Mrs S L Cunningham-Neuff
Mr M J Cunningham-Neuff





Secretary: Mrs S L Cunningham-Neuff





Registered office: 3 Abbots Close
Lee Mill Industrial Estate
Ivybridge
Devon
PL21 9GA





Registered number: 06306211 (England and Wales)





Accountants: Nigel Webster & Co
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 5 200,064 203,041
200,064 203,041

Current assets
Stocks 6 206,472 228,622
Debtors 7 45,621 36,750
Prepayments and accrued income 2,625 898
Cash at bank and in hand 59,436 59,058
314,154 325,328
Creditors
Amounts falling due within one year 8 113,908 99,844
Net current assets 200,246 225,484
Total assets less current liabilities 400,310 428,525

Creditors
Amounts falling due after more than
one year

9

505,567

518,525
Net liabilities (105,257 ) (90,000 )

Capital and reserves
Called up share capital 10 100 100
Capital redemption reserve 5 5
Retained earnings (105,362 ) (90,105 )
Shareholders' funds (105,257 ) (90,000 )

Neuff Athletic Equipment Limited (Registered number: 06306211)

BALANCE SHEET - continued
31 October 2023


The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

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.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

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 1 March 2024 and were signed on its behalf by:





Mrs S L Cunningham-Neuff - Director


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
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

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.

Patents and licences are being amortised evenly over their estimated useful life of five years.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Freehold property - 2% on buildings and 0% on land
Plant and machinery - 25% on cost
Website - Straight line over 10 years
Computer equipment - 33% on cost

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 6 (2022 - 6 ) .

4. INTANGIBLE FIXED ASSETS
Patents
and
Goodwill licences Totals
£    £    £   
Cost
At 1 November 2022
and 31 October 2023 35,000 1,266 36,266
Amortisation
At 1 November 2022
and 31 October 2023 35,000 1,266 36,266
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 211,712 5,545 1,674 10,839 229,770
Additions 1,410 - - 216 1,626
At 31 October 2023 213,122 5,545 1,674 11,055 231,396
Depreciation
At 1 November 2022 13,736 2,112 501 10,380 26,729
Charge for year 3,462 858 167 116 4,603
At 31 October 2023 17,198 2,970 668 10,496 31,332
Net book value
At 31 October 2023 195,924 2,575 1,006 559 200,064
At 31 October 2022 197,976 3,433 1,173 459 203,041

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 206,472 228,622

7. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Trade debtors 45,616 36,745
Other debtors 5 5
45,621 36,750

8. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2023 2022
£    £   
Bank loans and overdrafts 10,800 10,800
Trade creditors 15,596 2,545
Tax - 50
Social security and other taxes - 693
VAT 6,102 2,032
Directors' current accounts 79,726 82,129
Accrued expenses 1,684 1,595
113,908 99,844

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 15,079 25,095
Other loans 490,488 493,430
505,567 518,525

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2023 2022
value: £    £   
100 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.