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Registration number: 11787145

Neete Holdings Limited

Unaudited Filleted Financial Statements

for the Year Ended 31 March 2024




















 

 

Neete Holdings Limited

Contents

Company Information

1

Balance Sheet

2

Notes to the Unaudited Financial Statements

3 to 7

 

Neete Holdings Limited

Company Information

Directors

Mr P J Holmes

Mrs Nilam Holmes

Company secretary

Mr P J Holmes

Registered office

Unit K, Haybrook Barn
Newport Road
Broughton
Milton Keynes,
Buckinghamshire
MK16 0HU

 

Neete Holdings Limited

(Registration number: 11787145)
Balance Sheet as at 31 March 2024

Note

2024
£

2023
£

Fixed assets

 

Investments

4

370

370

Current assets

 

Debtors

5

1,096,006

770,717

Creditors: Amounts falling due within one year

6

(268,749)

(212,276)

Net current assets

 

827,257

558,441

Net assets

 

827,627

558,811

Capital and reserves

 

Called up share capital

7

100

100

Share premium reserve

200

200

Retained earnings

827,327

558,511

Shareholders' funds

 

827,627

558,811

For the financial year ending 31 March 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' 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 directors acknowledge their 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 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 directors have not delivered to the registrar a copy of the Profit and Loss Account.

Approved and authorised by the Board on 30 August 2024 and signed on its behalf by:
 

.........................................
Mrs Nilam Holmes
Director

 

Neete Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

1

General information

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

The address of its registered office is:
Unit K, Haybrook Barn
Newport Road
Broughton
Milton Keynes,
Buckinghamshire
MK16 0HU
England

These financial statements were authorised for issue by the Board on 30 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.

Summary of disclosure exemptions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Going concern

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

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.

 

Neete Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

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.

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. 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.

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.

Dividends

Dividend distribution to the company’s shareholders is recognised as a liability in the financial statements in the reporting period in which the dividends are declared.

3

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2023 - 2).

 

Neete Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

4

Investments

2024
£

2023
£

Investments in subsidiaries

370

370

Subsidiaries

£

Cost or valuation

At 1 April 2023

370

Provision

Carrying amount

At 31 March 2024

370

At 31 March 2023

370

Details of undertakings

Details of the investments in which the company holds 20% or more of the nominal value of any class of share capital are as follows:

Undertaking

Registered office

Holding

Proportion of voting rights and shares held

2024

2023

Subsidiary undertakings

Neetewave Limited

England

Ordinary shares

100%

100%

Nilam Holmes Limited

England

Ordinary shares

100%

100%

Eyebrowqueen Limited

England

Ordinary shares

100%

100%

Puro Products Limited

England

Ordinary shares

70%

70%

 

Neete Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

Subsidiary undertakings

Neetewave Limited

The principal activity of Neetewave Limited is the sale of equipment and consumables to the beauty industry.

Nilam Holmes Limited

The principal activity of Nilam Holmes Limited is the provision of beauty services to the public.

Eyebrowqueen Limited

The principal activity of Eyebrowqueen Limited is the sale of beauty products to both wholesale and retail.

Puro Products Limited

The principal activity of Puro Products Limited is the sale of sanitising products.

5

Debtors

Current

Note

2024
£

2023
£

Amounts owed by related parties

1,096,006

770,717

   

1,096,006

770,717

6

Creditors

Creditors: amounts falling due within one year

Note

2024
£

2023
£

Due within one year

 

Trade creditors

 

93

93

Amounts owed to group undertakings and undertakings in which the company has a participating interest

-

8,327

Accruals and deferred income

 

818

709

Other creditors

 

267,838

203,147

 

268,749

212,276

 

Neete Holdings Limited

Notes to the Unaudited Financial Statements for the Year Ended 31 March 2024

7

Share capital

Allotted, called up and fully paid shares

2024

2023

No.

£

No.

£

Ordinary shares of £1 each

100

100

100

100

       

8

Parent and ultimate parent undertaking

The ultimate controlling party is Mr PJ and Mrs N Holmes.