Company Registration No. 06022952 (England and Wales)
NEOCARE UK LIMITED
Unaudited accounts
for the year ended 31 December 2023
NEOCARE UK LIMITED
Unaudited accounts
Contents
NEOCARE UK LIMITED
Company Information
for the year ended 31 December 2023
Director
Stephen Peter Ladley
Company Number
06022952 (England and Wales)
Registered Office
Katswell Grange Joyford
Coleford
GL16 7AR
Accountants
Evans Entwistle
Venta House
Maes-glas
Newport
NP20 2NS
Chartered Management Accountants' report to the board of directors on the preparation of the unaudited statutory accounts of
NEOCARE UK LIMITED
for the year ended 31 December 2023
In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the accounts of NEOCARE UK LIMITED for the year ended 31 December 2023 which comprise of the Profit and Loss Account, the Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.
As a CIMA Registered Member in Practice and Practising Certificate holder, I am subject to its ethical and other professional requirements which are detailed at https://www.cimaglobal.com/Members/Your-Membership-Information/Members-handbook/Licensing-and-monitoring/Members-in-practice/
Our work has been undertaken in accordance with the requirements of the Chartered Institute of Management Accountants as detailed at http://www.cimaglobal.com.
Evans Entwistle
Member in Practice
Venta House
Maes-glas
Newport
NP20 2NS
2 February 2024
NEOCARE UK LIMITED
Statement of financial position
as at 31 December 2023
Tangible assets
382,420
193,170
Cash at bank and in hand
333,239
171,064
Creditors: amounts falling due within one year
(189,880)
(72,742)
Net current assets
182,301
114,707
Total assets less current liabilities
564,721
307,877
Creditors: amounts falling due after more than one year
(82,885)
(79,580)
Provisions for liabilities
Net assets
450,039
228,297
Called up share capital
180
180
Profit and loss account
449,859
228,117
Shareholders' funds
450,039
228,297
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 director acknowledges his 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 and authorised for issue on 2 February 2024 and were signed on its behalf by
Stephen Peter Ladley
Director
Company Registration No. 06022952
NEOCARE UK LIMITED
Notes to the Accounts
for the year ended 31 December 2023
NEOCARE UK LIMITED is a private company, limited by shares, registered in England and Wales, registration number 06022952. The registered office is Katswell Grange Joyford, Coleford, GL16 7AR.
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.
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. Turnover from the sale of goods is recognised when goods have been delivered to customers such that risks and rewards of ownership have transferred to them. 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 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:
Plant & machinery
10 years straight line
Motor vehicles
4 years straight line
Fixtures & fittings
5 years straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell. In respect of work in progress and finished goods, cost includes a relevant proportion of overheads according to the stage of manufacturing/completion.
Expenditure on research and development is written off in the year in which it is incurred.
Deferred tax arises as a result of including items of income and expenditure in taxation computations in periods different from those in which they are included in the company's accounts. Deferred tax is provided in full on timing differences which result in an obligation to pay more (or less) tax at a future date, at the average tax rates that are expected to apply when the timing differences reverse, based on current tax rates and laws.
Deferred tax assets and liabilities are not discounted.
NEOCARE UK LIMITED
Notes to the Accounts
for the year ended 31 December 2023
4
Tangible fixed assets
Plant & machinery
Motor vehicles
Fixtures & fittings
Total
Cost or valuation
At cost
At cost
At cost
At 1 January 2023
101,529
295,107
139,967
536,603
Additions
261,822
-
-
261,822
At 31 December 2023
363,351
295,107
139,967
798,425
At 1 January 2023
59,823
226,399
57,211
343,433
Charge for the year
13,258
38,118
21,196
72,572
At 31 December 2023
73,081
264,517
78,407
416,005
At 31 December 2023
290,270
30,590
61,560
382,420
At 31 December 2022
41,706
68,708
82,756
193,170
Finished goods
7,800
11,850
Amounts falling due within one year
Trade debtors
31,142
4,535
7
Creditors: amounts falling due within one year
2023
2022
Trade creditors
102,364
57,538
Taxes and social security
34,441
6,971
8
Creditors: amounts falling due after more than one year
2023
2022
Other creditors
12,130
5,234
Loans from directors
70,755
74,346
NEOCARE UK LIMITED
Notes to the Accounts
for the year ended 31 December 2023
Allotted, called up and fully paid:
180 Ordinary shares of £1 each
180
180
10
Transactions with related parties
At the year end the company was due £12,130 (2022: £5,234) from Neocare Fabrications Ltd (10690466) an entity under common control.
11
Average number of employees
During the year the average number of employees was 5 (2022: 3).