Registered number
12988793
Neoci Ltd
Filleted Accounts
30 November 2023
Neoci Ltd
Registered number: 12988793
Balance Sheet
as at 30 November 2023
Notes 2023 2022
£ £
Fixed assets
Tangible assets 3 7,582 6,490
Current assets
Debtors 4 63,800 47,495
Cash at bank and in hand 16,925 14,260
80,725 61,755
Creditors: amounts falling due within one year 5 (84,509) (68,047)
Net current assets/(liabilities) (3,784) (6,292)
Total assets less current liabilities 3,798 198
Creditors: amounts falling due after more than one year 6 (2,222) -
Net assets/(liabilities) 1,576 198
Capital and reserves
Called up share capital 100 100
Profit and loss account 1,476 98
Shareholders' funds 1,576 198
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
O. D. Benn
Director
Approved by the board on 26 August 2024
Neoci Ltd
Notes to the Accounts
for the year ended 30 November 2023
1 Accounting policies
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Turnover
Turnover is measured at the fair value of the consideration received or 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 the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
IT and office equipment over 3 years
Office fixtures, fittings and equipment over 5 years
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.
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.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 Employees 2023 2022
Number Number
Average number of persons employed by the company 7 7
3 Tangible fixed assets
Fixures, fittings and equipment IT and office equipment Total
£ £ £
Cost
At 1 December 2022 5,516 1,633 7,149
Additions 3,424 - 3,424
At 30 November 2023 8,940 1,633 10,573
Depreciation
At 1 December 2022 400 259 659
Charge for the year 1,788 544 2,332
At 30 November 2023 2,188 803 2,991
Net book value
At 30 November 2023 6,752 830 7,582
At 30 November 2022 5,116 1,374 6,490
4 Debtors 2023 2022
£ £
Trade debtors 63,800 44,610
Other debtors - 2,885
63,800 47,495
5 Creditors: amounts falling due within one year 2023 2022
£ £
Bank loans and overdrafts 16,667 -
Taxation and social security costs 41,036 37,142
Other creditors 26,806 30,905
84,509 68,047
6 Creditors: amounts falling due after one year 2023 2022
£ £
Bank loans 2,222 -
7 Related party transactions
Administrative expenses for the year includes a management charge of £0 (2022 -£31,000) payable to a company in which two of the directors have a material interest.
At the balance sheet date, the company owed £23,973 (2022 - £30,1667) to the company in which two of the directors have a material interest.
8 Other information
Neoci Ltd is a private company limited by shares and incorporated in England. Its registered office is:
3a Idsworth Road
Cowplain
Waterlooville
Hampshire
PO8 8BD
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