Company registration number 10429048 (England and Wales)
NEOUS LIMITED
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
PAGES FOR FILING WITH REGISTRAR
NEOUS LIMITED
CONTENTS
Page
Accountants' report
1
Balance sheet
2 - 3
Notes to the financial statements
4 - 7
NEOUS LIMITED
COMPANY INFORMATION
Director
Ms V L Antonious
Company number
10429048
Registered office
Flat 5
22a Bouverie Road
London
England
N16 0AJ
Accountants
Kirk Rice LLP
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
NEOUS LIMITED
ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NEOUS LIMITED FOR THE YEAR ENDED 31 OCTOBER 2023
- 1 -

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Neous Limited for the year ended 31 October 2023 which comprise, the balance sheet and the related notes from the company’s accounting records and from information and explanations you have given us.

This report is made solely to the Board of Directors of Neous Limited, as a body. Our work has been undertaken solely to prepare for your approval the financial statements of Neous Limited and state those matters that we have agreed to state to the Board of Directors of Neous Limited, as a body. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neous Limited and its Board of Directors as a body, for our work or for this report.

It is your duty to ensure that Neous Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and loss of Neous Limited. You consider that Neous Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of Neous Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

Kirk Rice LLP
4 December 2024
Victoria House
178-180 Fleet Road
Fleet
Hampshire
GU51 4DA
NEOUS LIMITED
BALANCE SHEET
AS AT
31 OCTOBER 2023
31 October 2023
- 2 -
2023
2022
Notes
£
£
£
£
Fixed assets
Tangible assets
3
51,058
39,736
Current assets
Stocks
198,632
182,822
Debtors
4
832,561
895,657
Cash at bank and in hand
2,986
27,817
1,034,179
1,106,296
Creditors: amounts falling due within one year
5
(2,692,062)
(1,884,820)
Net current liabilities
(1,657,883)
(778,524)
Total assets less current liabilities
(1,606,825)
(738,788)
Creditors: amounts falling due after more than one year
6
(223,916)
(201,842)
Net liabilities
(1,830,741)
(940,630)
Capital and reserves
Called up share capital
100
100
Share premium account
12,000
12,000
Profit and loss reserves
(1,842,841)
(952,730)
Total equity
(1,830,741)
(940,630)

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

For the financial year ended 31 October 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The director acknowledges her responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The members have not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

NEOUS LIMITED
BALANCE SHEET (CONTINUED)
AS AT
31 OCTOBER 2023
31 October 2023
- 3 -
The financial statements were approved by the board of directors and authorised for issue on 4 December 2024 and are signed on its behalf by:
Ms V L Antonious
Director
Company registration number 10429048 (England and Wales)
NEOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023
- 4 -
1
Accounting policies
Company information

Neous Limited is a private company limited by shares incorporated in England and Wales. The registered office is Unit 25, Archer Street, London, England, W1D 7AZ.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. The disclosure requirements of section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

The financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention. The principal accounting policies adopted are set out below.

1.2
Going concern

The company acknowledges that the balance sheet as of 31 October 2023 was negative and, after the year end, has taken steps to restructure its debt obligations. This restructuring has resulted in a successful reduction in net debt, interest exposure and cash flow commitments. The company has also undertaken a programme of cost reduction and improvement to its operating margins and expect to report an operating profit in the forthcoming financial year. Because of these actions, the Director feels she has adequate resources to continue to operate as a going concern. The Director's loan account has increased from the prior period, however since the year end the director has invested funds into the company in excess of this loan balance.

1.3
Turnover

Turnover is recognised at the fair value of the consideration received or receivable for goods provided in the normal course of business, and is shown net of VAT and other sales related taxes and is recognised on sale to the customer, which is considered the point of delivery. The fair value of consideration takes into account trade discounts, settlement discounts and volume rebates.

1.4
Tangible fixed assets

Tangible fixed assets are initially measured at cost and subsequently measured at cost or valuation, net of depreciation and any impairment losses.

Depreciation 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:

Website
33.33% on cost
Fixtures and fittings
33.33% on cost
Computers
33.33% on cost
Lasts and Moulds
16.67% on cost

The gain or loss arising on the disposal of an asset is determined as the difference between the sale proceeds and the carrying value of the asset, and is credited or charged to profit or loss.

NEOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 5 -
1.5
Impairment of fixed assets

At each reporting period end date, the company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the company estimates the recoverable amount of the cash-generating unit to which the asset belongs.

1.6
Stocks

Stocks are stated at the lower of cost and estimated selling price less costs to complete and sell. Cost comprises direct materials and, where applicable, direct labour costs and those overheads that have been incurred in bringing the stocks to their present location and condition.

 

Stocks held for distribution at no or nominal consideration are measured at the lower of cost and replacement cost, adjusted where applicable for any loss of service potential.

At each reporting date, an assessment is made for impairment. Any excess of the carrying amount of stocks over its estimated selling price less costs to complete and sell is recognised as an impairment loss in profit or loss. Reversals of impairment losses are also recognised in profit or loss.

1.7
Cash and cash equivalents

Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks, other short-term liquid investments with original maturities of three months or less, and bank overdrafts. Bank overdrafts are shown within borrowings in current liabilities.

1.8
Financial instruments

Financial assets and financial liabilities are recognised when the company becomes a party to the contractual provisions of the financial instrument.

Debtors

Debtors do not carry interest and are stated at their nominal value. Appropriate allowances for estimated irrecoverable amounts are recognised in the Profit and Loss account when there is objective evidence that the asset is impaired.

Creditors

Creditors are not interest bearing and are included at their nominal value.

1.9
Taxation

The tax expense represents the sum of the tax currently payable.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

1.10
Retirement benefits

Payments to defined contribution retirement benefit schemes are charged as an expense as they fall due.

1.11
Leases

Rentals payable under operating leases, including any lease incentives received, are charged to profit or loss on a straight line basis over the term of the relevant lease except where another more systematic basis is more representative of the time pattern in which economic benefits from the leases asset are consumed.

NEOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
1
Accounting policies
(Continued)
- 6 -
1.12
Government grants

Government grants are recognised at the fair value of the asset received or receivable when there is reasonable assurance that the grant conditions will be met and the grants will be received.

 

A grant that specifies performance conditions is recognised in income when the performance conditions are met. Where a grant does not specify performance conditions it is recognised in income when the proceeds are received or receivable. A grant received before the recognition criteria are satisfied is recognised as a liability.

1.13
Foreign exchange

Transactions in currencies other than pounds sterling are recorded at the rates of exchange prevailing at the dates of the transactions. At each reporting end date, monetary assets and liabilities that are denominated in foreign currencies are retranslated at the rates prevailing on the reporting end date. Gains and losses arising on translation in the period are included in profit or loss.

2
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2023
2022
Number
Number
Total
5
5
3
Tangible fixed assets
Website
Fixtures and fittings
Computers
Lasts and Moulds
Total
£
£
£
£
£
Cost
At 1 November 2022
33,115
11,829
23,393
55,382
123,719
Additions
5,680
21,906
3,301
-
0
30,887
At 31 October 2023
38,795
33,735
26,694
55,382
154,606
Depreciation and impairment
At 1 November 2022
33,115
2,940
23,393
24,535
83,983
Depreciation charged in the year
888
8,799
648
9,230
19,565
At 31 October 2023
34,003
11,739
24,041
33,765
103,548
Carrying amount
At 31 October 2023
4,792
21,996
2,653
21,617
51,058
At 31 October 2022
-
0
8,889
-
0
30,847
39,736
NEOUS LIMITED
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 31 OCTOBER 2023
- 7 -
4
Debtors
2023
2022
Amounts falling due within one year:
£
£
Trade debtors
276,192
396,921
Other debtors
556,369
498,736
832,561
895,657
5
Creditors: amounts falling due within one year
2023
2022
£
£
Bank loans
741,484
458,496
Trade creditors
991,514
539,233
Taxation and social security
18,184
5,471
Other creditors
940,880
881,620
2,692,062
1,884,820
6
Creditors: amounts falling due after more than one year
2023
2022
£
£
Bank loans and overdrafts
223,916
201,842
7
Operating lease commitments
Lessee

At the reporting end date the company had outstanding commitments for future minimum lease payments under non-cancellable operating leases, as follows:

2023
2022
£
£
2,235
53,650
8
Directors' transactions
Description
% Rate
Opening balance
Amounts advanced
Closing balance
£
£
£
Ms V L Antonious - Loan
-
114,353
49,003
163,356
114,353
49,003
163,356
2023-10-312022-11-01falsefalsefalse04 December 2024CCH SoftwareCCH Accounts Production 2024.310No description of principal activityMs V L AntoniousMrs R Katzanos104290482022-11-012023-10-3110429048bus:Director12022-11-012023-10-3110429048bus:Director22022-11-012023-10-3110429048bus:RegisteredOffice2022-11-012023-10-31104290482023-10-31104290482022-10-3110429048core:PlantMachinery2023-10-3110429048core:FurnitureFittings2023-10-3110429048core:ComputerEquipment2023-10-3110429048core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2023-10-3110429048core:PlantMachinery2022-10-3110429048core:FurnitureFittings2022-10-3110429048core:ComputerEquipment2022-10-3110429048core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-10-3110429048core:CurrentFinancialInstrumentscore:WithinOneYear2023-10-3110429048core:CurrentFinancialInstrumentscore:WithinOneYear2022-10-3110429048core:Non-currentFinancialInstrumentscore:AfterOneYear2023-10-3110429048core:Non-currentFinancialInstrumentscore:AfterOneYear2022-10-3110429048core:CurrentFinancialInstruments2023-10-3110429048core:CurrentFinancialInstruments2022-10-3110429048core:ShareCapital2023-10-3110429048core:ShareCapital2022-10-3110429048core:SharePremium2023-10-3110429048core:SharePremium2022-10-3110429048core:RetainedEarningsAccumulatedLosses2023-10-3110429048core:RetainedEarningsAccumulatedLosses2022-10-3110429048core:PlantMachinery2022-11-012023-10-3110429048core:FurnitureFittings2022-11-012023-10-3110429048core:ComputerEquipment2022-11-012023-10-3110429048core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-11-012023-10-31104290482021-11-012022-10-3110429048core:PlantMachinery2022-10-3110429048core:FurnitureFittings2022-10-3110429048core:ComputerEquipment2022-10-3110429048core:Non-standardPPEClass1ComponentTotalPropertyPlantEquipment2022-10-31104290482022-10-3110429048core:WithinOneYear2023-10-3110429048core:WithinOneYear2022-10-3110429048core:Non-currentFinancialInstruments2023-10-3110429048core:Non-currentFinancialInstruments2022-10-3110429048bus:PrivateLimitedCompanyLtd2022-11-012023-10-3110429048bus:SmallCompaniesRegimeForAccounts2022-11-012023-10-3110429048bus:FRS1022022-11-012023-10-3110429048bus:AuditExemptWithAccountantsReport2022-11-012023-10-3110429048bus:FullAccounts2022-11-012023-10-31xbrli:purexbrli:sharesiso4217:GBP