Company Registration No. 13281620 (England and Wales)
Napo Limited
Unaudited accounts
for the year ended 31 December 2023
Napo Limited
Unaudited accounts
Contents
Napo Limited
Company Information
for the year ended 31 December 2023
Directors
Philippe Azoulay
Jean-Philippe Michel Doumeng
Guy Ward Thomas
Jenny Qing Xin Jieyu Liu
Company Number
13281620 (England and Wales)
Registered Office
2 JUBILEE PLACE
LONDON
SW3 3TQ
UNITED KINGDOM
Napo Limited
Statement of financial position
as at 31 December 2023
Tangible assets
114,652
83,825
Debtors
11,032,961
5,020,056
Cash at bank and in hand
7,877,682
11,939,964
Creditors: amounts falling due within one year
(8,769,307)
(3,786,569)
Net current assets
10,141,336
13,173,451
Total assets less current liabilities
10,255,988
13,257,276
Creditors: amounts falling due after more than one year
(4,231,130)
(1,516,910)
Provisions for liabilities
Other provisions
(551,226)
-
Net assets
5,473,632
11,740,366
Called up share capital
1,821
1,792
Share premium
17,541,489
17,398,590
Profit and loss account
(12,069,678)
(5,660,016)
Shareholders' funds
5,473,632
11,740,366
For the year ending 31 December 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 directors acknowledge their 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 of Directors and authorised for issue on 22 March 2024 and were signed on its behalf by
Jean-Philippe Michel Doumeng
Director
Company Registration No. 13281620
Napo Limited
Notes to the Accounts
for the year ended 31 December 2023
Napo Limited is a private company, limited by shares, registered in England and Wales, registration number 13281620. The registered office is 2 JUBILEE PLACE, LONDON, SW3 3TQ, UNITED KINGDOM.
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.
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.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Computer equipment
33% per annum
The Company operates an equity-settled share based remuneration scheme for its employees.
All employees are eligible to participate in the long term incentive scheme. The only vesting condition is that the individual remains an employee of the Company for the term set in their agreement.
Of the total number of options outstanding at the end of the year 1,255,548 (2022: 42,593) had vested at the end of the year with a weighted average exercise price of £0.04 (2022: £1.37). The options can be exercised during an exit event.
The Company is unable to directly measure the fair value of employee services remunerated via share option schemes and so have used the Black-Scholes option pricing model to determine the fair value of the instruments awarded.
Napo Limited
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At 1 January 2023
2,889
109,424
112,313
Additions
23,439
62,884
86,323
At 31 December 2023
26,328
172,308
198,636
At 1 January 2023
1,260
27,228
28,488
Charge for the year
7,112
48,384
55,496
At 31 December 2023
8,372
75,612
83,984
At 31 December 2023
17,956
96,696
114,652
At 31 December 2022
1,629
82,196
83,825
Amounts falling due within one year
Trade debtors
10,446,745
4,220,756
Accrued income and prepayments
361,214
463,947
Other debtors
225,002
335,353
6
Creditors: amounts falling due within one year
2023
2022
Trade creditors
8,201,638
3,331,381
Taxes and social security
150,279
132,496
Other creditors
311,342
154,747
7
Creditors: amounts falling due after more than one year
2023
2022
Trade creditors
4,231,130
1,516,910
8
Average number of employees
During the year the average number of employees was 60 (2022: 30).