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Company Registration No. SC409943 (Scotland)
Neatebox Limited Unaudited accounts for the year ended 31 October 2023
Neatebox Limited Unaudited accounts Contents
Page
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Neatebox Limited Company Information for the year ended 31 October 2023
Directors
Mr A Hutcheon Mr G Neate
Company Number
SC409943 (Scotland)
Registered Office
Citypoint, 65 Haymarket Terrace Edinburgh EH12 5HD Scotland
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Neatebox Limited Statement of financial position as at 31 October 2023
2023 
2022 
Notes
£ 
£ 
Fixed assets
Intangible assets
448 
670 
Tangible assets
1,379 
2,246 
1,827 
2,916 
Current assets
Inventories
254 
586 
Debtors
5,557 
9,656 
Cash at bank and in hand
8,442 
40,558 
14,253 
50,800 
Creditors: amounts falling due within one year
(237,084)
(219,645)
Net current liabilities
(222,831)
(168,845)
Total assets less current liabilities
(221,004)
(165,929)
Creditors: amounts falling due after more than one year
(16,555)
(23,695)
Net liabilities
(237,559)
(189,624)
Capital and reserves
Called up share capital
2 
2 
Share premium
636,605 
636,605 
Profit and loss account
(874,166)
(826,231)
Shareholders' funds
(237,559)
(189,624)
For the year ending 31 October 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 directors acknowledge their 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 of Directors and authorised for issue on 30 October 2024 and were signed on its behalf by
Mr A Hutcheon Director Company Registration No. SC409943
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Neatebox Limited Notes to the Accounts for the year ended 31 October 2023
1
Statutory information
Neatebox Limited is a private company, limited by shares, registered in Scotland, registration number SC409943. The registered office is Citypoint, 65 Haymarket Terrace, Edinburgh, EH12 5HD, Scotland.
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.
3
Accounting policies
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.
Basis of preparation
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
Presentation currency
The accounts are presented in £ sterling.
Going concern
The company made a loss this year and at the balance sheet date it had net liabilities. It is dependent on the continuation of financial support in the form of directors' loans and loan notes. At the date of signing of these financial statements the company is still trading and the directors have confirmed that it is their intention to support the company for a further year from the date of signing these financial statements. They therefore continue to adopt the going concern basis of accounting in preparing these financial statements.
Turnover
Turnover is recognised at the fair value of the consideration received or receivable for the development and production of customer service solution software provided in the normal course of business, and is shown net of VAT and other sales related taxes. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.
Intangible fixed assets
Intangible fixed assets (including purchased goodwill and patents) are included at cost less accumulated amortisation. Amortisation is recognised so as to write off the cost or valuation of assets less their residual values over their useful lives on the following bases: Patents - Over 10 years
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
25% reducing balance
Computer equipment
25% reducing balance
Inventories
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.
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Neatebox Limited Notes to the Accounts for the year ended 31 October 2023
Financial instruments
Basic financial instruments are recognised at amortised cost, except for investments in non-convertible preference and non-puttable ordinary shares which are measured at fair value, with changes recognised in profit or loss. Derivative financial instruments are initially recorded at cost and thereafter at fair value with changes recognised in profit or loss.
Deferred taxation
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.
Government grants
Government grants in relation to tangible fixed assets are credited to profit and loss account over the useful lives of the related assets, whereas those in relation to expenditure are credited when the expenditure is charged to profit and loss.
Foreign exchange
Monetary assets and liabilities in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are translated into sterling at the rates of exchange ruling at the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
4
Intangible fixed assets
Other 
£ 
Cost
At 1 November 2022
2,225 
At 31 October 2023
2,225 
Amortisation
At 1 November 2022
1,555 
Charge for the year
222 
At 31 October 2023
1,777 
Net book value
At 31 October 2023
448 
At 31 October 2022
670 
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Neatebox Limited Notes to the Accounts for the year ended 31 October 2023
5
Tangible fixed assets
Plant & machinery 
Computer equipment 
Total 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At 1 November 2022
751 
7,951 
8,702 
Disposals
(751)
(1,799)
(2,550)
At 31 October 2023
- 
6,152 
6,152 
Depreciation
At 1 November 2022
527 
5,929 
6,456 
Charge for the year
- 
459 
459 
On disposals
(527)
(1,615)
(2,142)
At 31 October 2023
- 
4,773 
4,773 
Net book value
At 31 October 2023
- 
1,379 
1,379 
At 31 October 2022
224 
2,022 
2,246 
6
Debtors
2023 
2022 
£ 
£ 
Amounts falling due within one year
VAT
- 
992 
Trade debtors
4,057 
8,064 
Accrued income and prepayments
- 
600 
4,057 
9,656 
Amounts falling due after more than one year
Other debtors
1,500 
- 
7
Creditors: amounts falling due within one year
2023 
2022 
£ 
£ 
Bank loans and overdrafts
5,719 
5,719 
VAT
5,646 
- 
Trade creditors
- 
6,712 
Taxes and social security
6,851 
12,818 
Other creditors
1,160 
15,112 
Loans from directors
158,485 
136,066 
Accruals
59,223 
43,218 
237,084 
219,645 
The bank loan is secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.
8
Creditors: amounts falling due after more than one year
2023 
2022 
£ 
£ 
Bank loans
16,555 
23,695 
The bank loan is secured by a guarantee from the UK Government under the Bounce Back Loan Scheme.
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Neatebox Limited Notes to the Accounts for the year ended 31 October 2023
9
Average number of employees
During the year the average number of employees was 2 (2022: 4).
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