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Registered number: 10567782
Neojoy Ltd
Financial Statements
For The Year Ended 31 January 2024
Contents
Page
Balance Sheet 1—2
Notes to the Financial Statements 3—6
Page 1
Balance Sheet
Registered number: 10567782
2024 2023
Notes £ £ £ £
FIXED ASSETS
Intangible Assets 4 1,500 1,500
Tangible Assets 5 12,343 18,706
Investments 6 304,892 216,841
318,735 237,047
CURRENT ASSETS
Stocks 7 21,904 115,700
Debtors 8 164,895 164,895
Cash at bank and in hand 722,983 608,907
909,782 889,502
Creditors: Amounts Falling Due Within One Year 9 (812,398 ) (582,556 )
NET CURRENT ASSETS (LIABILITIES) 97,384 306,946
TOTAL ASSETS LESS CURRENT LIABILITIES 416,119 543,993
Creditors: Amounts Falling Due After More Than One Year 10 (233,656 ) (233,656 )
NET ASSETS 182,463 310,337
CAPITAL AND RESERVES
Called up share capital 11 1,000 1,000
Profit and Loss Account 181,463 309,337
SHAREHOLDERS' FUNDS 182,463 310,337
Page 1
Page 2
For the year ending 31 January 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 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.
The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
Mr Salash Motiani
Director
28/01/2025
The notes on pages 3 to 6 form part of these financial statements.
Page 2
Page 3
Notes to the Financial Statements
1. General Information
Neojoy Ltd is a private company, limited by shares, incorporated in England & Wales, registered number 10567782 . The registered office is 15 Station Field Industrial Estate, Kidlington, England, OX5 1JD.
2. Accounting Policies
2.1. Basis of Preparation of Financial Statements
The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.
2.2. 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 is reduced for estimated customer returns, rebates and other similar allowances.
Sale of goods
Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods has transferred to the buyer. This is usually at the point that the customer has signed for the delivery of the goods.
Rendering of services
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. Turnover is only recognised to the extent of recoverable expenses when the outcome of a contract cannot be estimated reliably.
2.3. Intangible Fixed Assets and Amortisation - Other Intangible
Other intangible asset is trade mark which has indefinite useful life and it will not be amortised.
2.4. Tangible Fixed Assets and Depreciation
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
Plant & Machinery 20% Straight-line
Fixtures & Fittings 20% Straight-line
Computer Equipment 33% Straight-line
2.5. Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
2.6. Foreign Currencies
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 rate ruling on the date of the transaction. Exchange differences are taken into account in arriving at the operating profit.
2.7. Taxation
Income tax expense represents the sum of the tax currently payable and deferred tax.
The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and 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 end of the reporting period.
Page 3
Page 4
3. Average Number of Employees
Average number of employees, including directors, during the year was:
2024 2023
Office and administration 1 1
1 1
4. Intangible Assets
Other
£
Cost
As at 1 February 2023 1,500
As at 31 January 2024 1,500
Net Book Value
As at 31 January 2024 1,500
As at 1 February 2023 1,500
5. Tangible Assets
Plant & Machinery Fixtures & Fittings Computer Equipment Total
£ £ £ £
Cost
As at 1 February 2023 29,103 1,756 558 31,417
As at 31 January 2024 29,103 1,756 558 31,417
Depreciation
As at 1 February 2023 11,641 702 368 12,711
Provided during the period 5,821 352 190 6,363
As at 31 January 2024 17,462 1,054 558 19,074
Net Book Value
As at 31 January 2024 11,641 702 - 12,343
As at 1 February 2023 17,462 1,054 190 18,706
6. Investments
Listed
£
Cost
As at 1 February 2023 216,841
Additions 310,233
Disposals (222,182 )
As at 31 January 2024 304,892
Provision
As at 1 February 2023 -
As at 31 January 2024 -
...CONTINUED
Page 4
Page 5
Net Book Value
As at 31 January 2024 304,892
As at 1 February 2023 216,841
7. Stocks
2024 2023
£ £
Finished goods 21,904 115,700
8. Debtors
2024 2023
£ £
Due within one year
Trade debtors 161,256 161,256
Other debtors 3,639 3,639
164,895 164,895
9. Creditors: Amounts Falling Due Within One Year
2024 2023
£ £
Trade creditors 622,452 408,289
Corporation tax 28,013 27,258
VAT 36,793 44,149
Other creditors 931 14,770
Accruals and deferred income 3,480 3,480
Directors' loan accounts 120,729 84,610
812,398 582,556
10. Creditors: Amounts Falling Due After More Than One Year
2024 2023
£ £
Other loans 233,656 233,656
11. Share Capital
2024 2023
Allotted, called up and fully paid £ £
1,000 Ordinary Shares of £ 1.000 each 1,000 900
0 Ordinary B shares of £ 0.000 each - 100
1,000 1,000
12. Related Party Transactions
As at balance sheet date company owed to the director £120,729
As at balance sheet date company owed to Knoxed Limited £241,600
As at balance sheet date company owed to Nasaba Limited £75,000
As at balance sheet date company owed to Morris & Green Limited £18,000
Page 5
Page 6
13. Ultimate Controlling Party
The company's ultimate controlling party is BRIASH HOLDINGS LIMITED by virtue of his ownership of the issued share capital in the company.
Page 6