Registered number
04385709
NEAT PRODUCTS LTD
Filleted Accounts
30 April 2024
NEAT PRODUCTS LTD
Registered number: 04385709
Balance Sheet
as at 30 April 2024
Notes 2024 2023
£ £
Fixed assets
Tangible assets 3 1,637 2,182
Current assets
Stocks 46,519 38,000
Debtors 4 5,284 11,946
Cash at bank and in hand 21,150 18,657
72,953 68,603
Creditors: amounts falling due within one year 5 (30,093) (34,546)
Net current assets 42,860 34,057
Net assets 44,497 36,239
Capital and reserves
Called up share capital 5 5
Profit and loss account 44,492 36,234
Shareholders' funds 44,497 36,239
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.
Mr P Hall
Director
Approved by the board on 8 August 2024
NEAT PRODUCTS LTD
Notes to the Accounts
for the year ended 30 April 2024
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:
Plant and machinery 25% reducing balance
Motor vehicles 25% reducing balance
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
2 Employees 2024 2023
Number Number
Average number of persons employed by the company 1 1
3 Tangible fixed assets
Plant and machinery etc Motor vehicles Total
£ £ £
Cost
At 1 May 2023 15,657 7,000 22,657
At 30 April 2024 15,657 7,000 22,657
Depreciation
At 1 May 2023 13,641 6,834 20,475
Charge for the year 504 41 545
At 30 April 2024 14,145 6,875 21,020
Net book value
At 30 April 2024 1,512 125 1,637
At 30 April 2023 2,016 166 2,182
4 Debtors 2024 2023
£ £
Trade debtors 4,571 11,946
Other debtors 713 -
5,284 11,946
5 Creditors: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 10,800 15,785
Trade creditors 10,228 8,650
Corporation tax 5,584 6,091
Other taxes and social security costs 3,311 3,939
Other creditors 170 81
30,093 34,546
6 Other information
NEAT PRODUCTS LTD is a private company limited by shares and incorporated in England. Its registered office is:
The Old Chapel
Halifax Road
Keighley
BD22 8EE
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