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Registration number: 11246451

Neosap Ltd

Unaudited Filleted Financial Statements

for the Year Ended 31 December 2023

 

Neosap Ltd

Contents

Company Information

1

Balance Sheet

2 to 3

Notes to the Unaudited Financial Statements

4 to 11

 

Neosap Ltd

Company Information

Director

Mr Manish Kumar Jar

Registered office

42-46 Station Road
Edgware
Middlesex
HA8 7AB

Accountants

Kajaine Accountants Limited
Chartered Accountants
42-46 Station Road
Edgware
Middlesex
HA8 7AB

 

Neosap Ltd

(Registration number: 11246451)
Balance Sheet as at 31 December 2023

Note

2023
£

2022
£

Fixed assets

 

Intangible assets

4

179,267

153,539

Tangible assets

5

1,043

1,303

Investments

6

100

100

 

180,410

154,942

Current assets

 

Debtors

7

63,168

33,677

Cash at bank and in hand

 

80,641

183,575

 

143,809

217,252

Creditors: Amounts falling due within one year

8

(51,360)

(61,570)

Net current assets

 

92,449

155,682

Total assets less current liabilities

 

272,859

310,624

Creditors: Amounts falling due after more than one year

8

(284,898)

(293,043)

Net (liabilities)/assets

 

(12,039)

17,581

Capital and reserves

 

Called up share capital

9

50,000

50,000

Retained earnings

(62,039)

(32,419)

Shareholders' (deficit)/funds

 

(12,039)

17,581

For the financial 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.

Director's responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared and delivered in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

These financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. As permitted by section 444 (5A) of the Companies Act 2006, the director has not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the director on 5 August 2024
 

 

Neosap Ltd

(Registration number: 11246451)
Balance Sheet as at 31 December 2023

.........................................
Mr Manish Kumar Jar
Director

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

1

General information

The company is a private company limited by share capital, incorporated in England and Wales.

The address of its registered office is:
42-46 Station Road
Edgware
Middlesex
HA8 7AB
England

These financial statements were authorised for issue by the director on 5 August 2024.

2

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Going concern

The financial statements have been prepared on a going concern basis.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Foreign currency transactions and balances

Transactions in foreign currencies are initially recorded at the functional currency rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated into the respective functional currency of the entity at the rates prevailing on the reporting period date. Non-monetary items carried at fair value that are denominated in foreign currencies are retranslated at the rate on the date when the fair value is re-measured.

Non-monetary items measured in terms of historical cost in a foreign currency are not retranslated.

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Tax

The tax expense for the period comprises tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Business combinations

Business combinations are accounted for using the purchase method. The consideration for each acquisition is measured at the aggregate of the fair values at acquisition date of assets given, liabilities incurred or assumed, and equity instruments issued by the group in exchange for control of the acquired, plus any costs directly attributable to the business combination. When a business combination agreement provides for an adjustment to the cost of the combination contingent on future events, the group includes the estimated amount of that adjustment in the cost of the combination at the acquisition date if the adjustment is probable and can be measured reliably.

Intangible assets

Separately acquired trademarks and licences are shown at historical cost.

Trademarks, licences (including software) and customer-related intangible assets acquired in a business combination are recognised at fair value at the acquisition date.

Trademarks, licences and customer-related intangible assets have a finite useful life and are carried at cost less accumulated amortisation and any accumulated impairment losses.

Investments

Investments in equity shares which are publicly traded or where the fair value can be measured reliably are initially measured at fair value, with changes in fair value recognised in profit or loss. Investments in equity shares which are not publicly traded and where fair value cannot be measured reliably are measured at cost less impairment.


Interest income on debt securities, where applicable, is recognised in income using the effective interest method. Dividends on equity securities are recognised in income when receivable.

Cash and cash equivalents

Cash and cash equivalents comprise cash on hand and call deposits, and other short-term highly liquid investments that are readily convertible to a known amount of cash and are subject to an insignificant risk of change in value.

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Trade debtors

Trade debtors are amounts due from customers for merchandise sold or services performed in the ordinary course of business.

Trade debtors are recognised initially at the transaction price. They are subsequently measured at amortised cost using the effective interest method, less provision for impairment. A provision for the impairment of trade debtors is established when there is objective evidence that the company will not be able to collect all amounts due according to the original terms of the receivables.

Trade creditors

Trade creditors are obligations to pay for goods or services that have been acquired in the ordinary course of business from suppliers. Accounts payable are classified as current liabilities if the company does not have an unconditional right, at the end of the reporting period, to defer settlement of the creditor for at least twelve months after the reporting date. If there is an unconditional right to defer settlement for at least twelve months after the reporting date, they are presented as non-current liabilities.

Trade creditors are recognised initially at the transaction price and subsequently measured at amortised cost using the effective interest method.

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

Borrowings

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.

Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.

Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Share capital

Ordinary shares are classified as equity. Equity instruments are measured at the fair value of the cash or other resources received or receivable, net of the direct costs of issuing the equity instruments. If payment is deferred and the time value of money is material, the initial measurement is on a present value basis.

Defined contribution pension obligation

A defined contribution plan is a pension plan under which fixed contributions are paid into a pension fund and the company has no legal or constructive obligation to pay further contributions even if the fund does not hold sufficient assets to pay all employees the benefits relating to employee service in the current and prior periods.

Contributions to defined contribution plans are recognised as employee benefit expense when they are due. If contribution payments exceed the contribution due for service, the excess is recognised as a prepayment.

3

Staff numbers

The average number of persons employed by the company (including the director) during the year, was 1 (2022 - 2).

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

4

Intangible assets

Trademarks, patents and licenses
 £

Internally generated software development costs
 £

Total
£

Cost or valuation

At 1 January 2023

2,821

158,484

161,305

Additions internally developed

-

17,962

17,962

At 31 December 2023

2,821

176,446

179,267

Amortisation

Carrying amount

At 31 December 2023

2,821

176,446

179,267

At 31 December 2022

2,821

150,718

153,539

5

Tangible assets

Furniture, fittings and equipment
 £

Total
£

Cost or valuation

At 1 January 2023

1,303

1,303

At 31 December 2023

1,303

1,303

Depreciation

Charge for the year

260

260

At 31 December 2023

260

260

Carrying amount

At 31 December 2023

1,043

1,043

At 31 December 2022

1,303

1,303

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

6

Investments

2023
£

Investments in subsidiaries

100

Subsidiaries

£

Cost or valuation

At 1 January 2023

100

Provision

Carrying amount

At 31 December 2023

100

At 31 December 2022

100

7

Debtors

Current

Note

2023
£

2022
£

Trade debtors

 

1,642

4,917

Amounts owed by related parties

11

59,129

25,931

Other debtors

 

2,397

2,829

   

63,168

33,677

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

8

Creditors

Creditors: amounts falling due within one year

Note

2023
£

2022
£

Due within one year

 

Trade creditors

 

24,159

855

Taxation and social security

 

-

1,752

Other creditors

 

-

118

Accrued expenses

 

7,767

15,158

Directors current account

 

19,434

43,687

 

51,360

61,570

Due after one year

 

Loans and borrowings

10

284,898

293,043

Creditors: amounts falling due after more than one year

Note

2023
£

2022
£

Due after one year

 

Loans and borrowings
(Directors loan account)

10

284,898

293,043

9

Share capital

Allotted, called up and fully paid shares

2023

2022

No.

£

No.

£

Ordinary Share Capital of £1 each

50,000

50,000

50,000

50,000

       

10

Loans and borrowings

2023
£

2022
£

Non-current loans and borrowings

Other borrowings
(Directors loan account)

284,898

293,043

 

Neosap Ltd

Notes to the Unaudited Financial Statements for the Year Ended 31 December 2023

11

Related party transactions

Director's remuneration

The director's remuneration for the year was as follows:

2023
£

2022
£

Remuneration

11,901

11,135

Summary of transactions with entities with joint control or significant interest

Idea 7 Enterprises is owned by the same ultimate beneficial owners of this company which it trades at arm's length basis.

During the period the company received services amounting to £Nil (2022: £Nil) from Idea 7 Enterprises.

At the Balance Sheet date, the amounts due to Idea 7 Enterprises was £Nil (2022: £Nil)

Neosap India Private Ltd is a company incorporated in India and owned by the same ultimate beneficial owners of this company which it trades at arm's length basis.

During the period the company received services amounting to £37,755 (2022: £32,099) from Neosap India Private Ltd.

At the Balance Sheet date, the amounts due to Neosap India Private Ltd was £21,530 (2022: £Nil)

 

Summary of transactions with subsidiaries

Bablr Ltd share capital is 100% owned by the Company.
 
The comapny has lent £59,130 (2022: £25,931) to Bablr Ltd.

 

Income and receivables from related parties

2023

Entities with joint control or significant influence
£

Receipt of services

37,755

2022

Entities with joint control or significant influence
£

Receipt of services

32,099