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Company Registration No. 3153212 (England and Wales)
Neat Acoustics Limited Unaudited accounts for the year ended 29 February 2024
Neat Acoustics Limited Unaudited accounts Contents
Page
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Neat Acoustics Limited Company Information for the year ended 29 February 2024
Director
R Surgeoner
Company Number
3153212 (England and Wales)
Registered Office
29B HARMIRE ENTERPRISE PARK BARNARD CASTLE COUNTY DURHAM DL12 8XT
Accountants
JLA Accounting Limited 9 Flora Avenue Darlington DL3 8PF
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Neat Acoustics Limited Statement of financial position as at 29 February 2024
2024 
2023 
Notes
£ 
£ 
Fixed assets
Tangible assets
10,871 
12,858 
Current assets
Inventories
241,895 
226,709 
Debtors
49,749 
68,528 
Cash at bank and in hand
7,130 
7,312 
298,774 
302,549 
Creditors: amounts falling due within one year
(149,626)
(150,040)
Net current assets
149,148 
152,509 
Total assets less current liabilities
160,019 
165,367 
Creditors: amounts falling due after more than one year
(80,398)
(100,258)
Net assets
79,621 
65,109 
Capital and reserves
Called up share capital
16,536 
16,536 
Profit and loss account
63,085 
48,573 
Shareholders' funds
79,621 
65,109 
For the year ending 29 February 2024 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 22 November 2024 and were signed on its behalf by
R Surgeoner Director Company Registration No. 3153212
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Neat Acoustics Limited Notes to the Accounts for the year ended 29 February 2024
1
Statutory information
Neat Acoustics Limited is a private company, limited by shares, registered in England and Wales, registration number 3153212. The registered office is 29B HARMIRE ENTERPRISE PARK, BARNARD CASTLE, COUNTY DURHAM, DL12 8XT.
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.
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:
Land & buildings
Leasehold - straight line over the life of the lease
Motor vehicles
25% straight line
Fixtures & fittings
20% per annum reducing balance
Computer equipment
33.33% straight line
Stock
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Leased assets
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term. Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
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Neat Acoustics Limited Notes to the Accounts for the year ended 29 February 2024
4
Tangible fixed assets
Land & buildings 
Motor vehicles 
Fixtures & fittings 
Computer equipment 
Total 
£ 
£ 
£ 
£ 
£ 
Cost or valuation
At cost 
At cost 
At cost 
At cost 
At 1 March 2023
2,119 
11,995 
104,243 
867 
119,224 
Additions
- 
- 
1,543 
501 
2,044 
At 29 February 2024
2,119 
11,995 
105,786 
1,368 
121,268 
Depreciation
At 1 March 2023
2,118 
5,206 
98,218 
824 
106,366 
Charge for the year
- 
2,499 
1,316 
216 
4,031 
At 29 February 2024
2,118 
7,705 
99,534 
1,040 
110,397 
Net book value
At 29 February 2024
1 
4,290 
6,252 
328 
10,871 
At 28 February 2023
1 
6,789 
6,025 
43 
12,858 
5
Debtors
2024 
2023 
£ 
£ 
Amounts falling due within one year
Trade debtors
13,068 
1,680 
Accrued income and prepayments
731 
1,576 
Other debtors
35,950 
65,272 
49,749 
68,528 
6
Creditors: amounts falling due within one year
2024 
2023 
£ 
£ 
Bank loans and overdrafts
88,440 
48,656 
VAT
4,766 
- 
Trade creditors
30,169 
57,776 
Taxes and social security
13,523 
19,839 
Other creditors
12,080 
23,319 
Loans from directors
198 
- 
Accruals
450 
450 
149,626 
150,040 
7
Creditors: amounts falling due after more than one year
2024 
2023 
£ 
£ 
Bank loans
80,398 
100,258 
8
Average number of employees
During the year the average number of employees was 4 (2023: 5).
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