Caseware UK (AP4) 2024.0.164 2024.0.164 2023-06-302023-06-30false2022-07-01Dormantfalse11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 11782337 2022-07-01 2023-06-30 11782337 2021-07-01 2022-06-30 11782337 2023-06-30 11782337 2022-06-30 11782337 c:Director1 2022-07-01 2023-06-30 11782337 d:CurrentFinancialInstruments 2023-06-30 11782337 d:CurrentFinancialInstruments 2022-06-30 11782337 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 11782337 d:CurrentFinancialInstruments d:WithinOneYear 2022-06-30 11782337 d:ShareCapital 2023-06-30 11782337 d:ShareCapital 2022-06-30 11782337 d:RetainedEarningsAccumulatedLosses 2023-06-30 11782337 d:RetainedEarningsAccumulatedLosses 2022-06-30 11782337 c:FRS102 2022-07-01 2023-06-30 11782337 c:AuditExempt-NoAccountantsReport 2022-07-01 2023-06-30 11782337 c:FullAccounts 2022-07-01 2023-06-30 11782337 c:PrivateLimitedCompanyLtd 2022-07-01 2023-06-30 11782337 e:PoundSterling 2022-07-01 2023-06-30 11782337 d:EntityControlledByKeyManagementPersonnel1 2022-07-01 2023-06-30 11782337 d:EntityControlledByKeyManagementPersonnel1 2023-06-30 11782337 d:EntityControlledByKeyManagementPersonnel2 2022-07-01 2023-06-30 11782337 d:EntityControlledByKeyManagementPersonnel2 2023-06-30 iso4217:GBP xbrli:pure

Registered number: 11782337









NEISTAT GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 30 JUNE 2023

 
NEISTAT GROUP LIMITED
REGISTERED NUMBER: 11782337

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2023


As restated

2023

2022
Note
£
£
£
£

  

Current assets
  

Stocks
 4 
-
1,671,922

Debtors: amounts falling due within one year
 5 
61,992
1,577,960

Current asset investments
 6 
-
8,000

Cash at bank and in hand
 7 
1,748
371,503

  
63,740
3,629,385

Creditors: amounts falling due within one year
 8 
(36,284)
(3,619,648)

Net current assets
  
 
 
27,456
 
 
9,737

  

Net assets
  
27,456
9,737


Capital and reserves
  

Called up share capital 
 9 
1
1

Profit and loss account
  
27,455
9,736

  
27,456
9,737


Page 1

 
NEISTAT GROUP LIMITED
REGISTERED NUMBER: 11782337
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2023

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

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

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

The Company has opted not to file the Statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 18 March 2025.




J Graham
Director

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NEISTAT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

1.


General information

Neistat Group Limited is a company limited by shares, incorporated in England and Wales. The address of the registered office is  85 Great Portland Street, First Floor, London, W1W 7LT.
The principal activity of the company is selling office furnitures and fixtures. 

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. 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 following principal accounting policies have been applied:

 
2.2

Foreign currency translation

Functional and presentation currency

The Company's functional and presentational currency is GBP.

Transactions and balances

Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.

At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.

Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the Statement of comprehensive income except when deferred in other comprehensive income as qualifying cash flow hedges.

Foreign exchange gains and losses that relate to borrowings and cash and cash equivalents are presented in the Statement of comprehensive income within 'finance income or costs'. All other foreign exchange gains and losses are presented in the Statement of comprehensive income within 'other operating income'.

Page 3

 
NEISTAT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.3

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Sale of goods

Revenue from the sale of goods is recognised when all of the following conditions are satisfied:
the Company has transferred the significant risks and rewards of ownership to the buyer;
the Company retains neither continuing managerial involvement to the degree usually associated with ownership nor effective control over the goods sold;
the amount of revenue can be measured reliably;
it is probable that the Company will receive the consideration due under the transaction; and
the costs incurred or to be incurred in respect of the transaction can be measured reliably.

 
2.4

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.


 
2.5

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each reporting date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in the Statement of comprehensive income.

 
2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

Page 4

 
NEISTAT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

2.Accounting policies (continued)

 
2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.


3.


Employees

The average monthly number of employees, including directors, during the year was 1 (2022 - 1).


4.


Stocks

2023
As restated 2022
£
£

Finished goods and goods for resale
-
1,671,922

-
1,671,922



5.


Debtors

2023
As restated
2022
£
£


Trade debtors
-
666,950

Other debtors
61,992
908,953

Prepayments and accrued income
-
2,057

61,992
1,577,960



6.


Current asset investments

2023
As restated
2022
£
£

Short term investments
-
8,000

-
8,000


Page 5

 
NEISTAT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

7.


Cash and cash equivalents

2023
As restated
2022
£
£

Cash at bank and in hand
1,748
371,503

1,748
371,503



8.


Creditors: Amounts falling due within one year

2023
As restated
2022
£
£

Trade creditors
-
1,537,023

Corporation tax
4,307
-

Other taxation and social security
4,374
8,557

Other creditors
24,603
2,063,027

Accruals and deferred income
3,000
11,041

36,284
3,619,648



9.


Share capital

2023
2022
£
£
Allotted, called up and fully paid



100 Ordinary shares of £0.01
1
1



10.


Prior year restatement

Prior year balances have been restated to reclassify several balances within the Statement of financial position. There has been no impact of this restatement on reported net assets and profits.


11.


Related party transactions

During the year, stock of £1,671,922, debtors of £1,275,739 and creditors of £2,720,325 were transferred to a company under common control. At the year end, an amount of £26,158 (2022 - £19,805) was due from that company and is included wthin other debtors. 
 
Included within other creditors is an amount of £22,709 due to (2022 - £889,148 due from) the director.

Page 6

 
NEISTAT GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2023

12.


Controlling party

The company is controlled by the director by virtue of his majority shareholding in the company.


13.


Exceptional items


During the year, an exceptional credit to Cost of sales of £147,246 has been recognised in the Statement of comprehensive income in relation to previously recognised liabilities that are no longer due.

 
Page 7