NEAT HOME LTD Registered Number
12272454
BALANCE SHEET
AS AT 30 SEPTEMBER 2024
Notes 2024 2023
£ £
FIXED ASSETS
Tangible assets 3 5,399 5,819
CURRENT ASSETS
Stocks 971,920 455,133
Debtors 4 352,867 215,361
Cash at bank and in hand 583,733 167,782
1,908,520 838,276
CREDITORS: amounts falling due within one year 5 (1,091,469) (653,511)
NET CURRENT ASSETS 817,051 184,765
TOTAL ASSETS LESS CURRENT LIABILITIES 822,450 190,584
CREDITORS: amounts falling due after more than one year 6 (513,304) (22,586)
NET ASSETS 309,146 167,998
CAPITAL AND RESERVES
Called up share capital 3,353 3,007
Share premium 2,773,123 1,928,464
Profit and loss account (2,467,330) (1,763,473)
SHAREHOLDERS' FUNDS 309,146 167,998
The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
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 Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.
Ryan McSorley
Director
Approved by the board and authorised for issue on 25 June 2025
NEAT HOME LTD
NOTES TO THE ACCOUNTS
FOR THE YEAR ENDED 30 SEPTEMBER 2024
1 ACCOUNTING POLICIES
Basis of preparation
The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).
Going concern
During the year ended 30 September 2024, the company made a loss of £703,857 (2023: £853,212). Accounts have been prepared on the going concern basis as the directors believe this to be appropriate based on the company's business plan and in view of additional capital that in the opinion of the directors the company has a reasonable expectation of raising subsequent to the balance sheet date.
Turnover
Turnover is measured at the fair value of the consideration received or receivable, net of discounts, trade promotions and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. 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.
Tangible fixed assets
Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:
Plant and machinery 25% reducing balance
Government grants
Grants are accounted for under the accruals model as permitted by FRS102. Grants relating to expenditure on tangible fixed assets are credited to the profit and loss account at the same rate as the depreciation on the assets to which the grant relates. The deferred element of grants is included in creditors as deferred income.

Grants of a revenue nature are recognised in profit or loss in the same period as the related expenditure.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost is determined using the first in first out method. The carrying amount of stock sold is recognised as an expense in the period in which the related revenue is recognised.
Debtors
Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.
Creditors
Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.
Taxation
A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.
Provisions
Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.
Foreign currency translation
Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.
Pensions
Contributions to defined contribution plans are expensed in the period to which they relate.
2 EMPLOYEES 2024 2023
Number Number
Average number of persons employed by the company 9 7
3 TANGIBLE FIXED ASSETS
Plant and machinery etc
£
COST:
At 1 October 2023 7,196
Additions 778
At 30 September 2024 7,974
DEPRECIATION:
At 1 October 2023 1,377
Charge for the year 1,198
At 30 September 2024 2,575
NET BOOK VALUE:
At 30 September 2024 5,399
At 30 September 2023 5,819
4 DEBTORS 2024 2023
£ £
Trade debtors 258,413 206,007
Other debtors 94,454 9,354
352,867 215,361
5 CREDITORS: amounts falling due within one year 2024 2023
£ £
Bank loans and overdrafts 9,282 9,282
Trade creditors 495,743 136,784
Taxation and social security 14,581 10,215
Other creditors 571,863 497,230
1,091,469 653,511
6 CREDITORS: amounts falling due after more than one year 2024 2023
£ £
Bank loans 13,304 22,586
Other creditors 500,000 -
513,304 22,586
7 RELATED PARTY TRANSACTIONS
As at 30 September 2024, other creditors (Note 5) includes shareholder loans received by the company in the amount of £450,000 (2023: £450,000) of which £250,000 (2023: £250,000) is interest-free and the balance bears interest at 7%; and other creditors (Note 6) includes loans received by the company from an individual related to a shareholder in the amount of £500,000 (2023: £nil) bearing interest at 9%.
8 OTHER INFORMATION
Neat Home Ltd is a private company limited by shares and incorporated in England. Its registered office is at Celixir House, Stratford Business & Technology Park, Innovation Way, Banbury Road, Stratford upon Avon, CV37 7GZ.
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