| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| for |
| Neate Automotive Limited |
| REGISTERED NUMBER: |
| Unaudited Financial Statements for the Year Ended 31 March 2026 |
| for |
| Neate Automotive Limited |
| Neate Automotive Limited (Registered number: 07758122) |
| Contents of the Financial Statements |
| for the Year Ended 31 March 2026 |
| Page |
| Company Information | 1 |
| Statement of Financial Position | 2 |
| Notes to the Financial Statements | 4 |
| Neate Automotive Limited |
| Company Information |
| for the Year Ended 31 March 2026 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: |
| Chartered Accountants |
| 2 Pavilion Court |
| 600 Pavilion Drive |
| Northampton |
| NN4 7SL |
| Neate Automotive Limited (Registered number: 07758122) |
| Statement of Financial Position |
| 31 March 2026 |
| 2026 | 2025 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 4 |
| CURRENT ASSETS |
| Stocks | 5 |
| Debtors | 6 |
| Cash at bank and in hand |
| CREDITORS |
| Amounts falling due within one year | 7 |
| NET CURRENT ASSETS |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 8 | ( |
) | ( |
) |
| PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Retained earnings |
| Neate Automotive Limited (Registered number: 07758122) |
| Statement of Financial Position - continued |
| 31 March 2026 |
| The directors acknowledge their responsibilities for: |
| (a) | ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and |
| (b) | preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| Neate Automotive Limited (Registered number: 07758122) |
| Notes to the Financial Statements |
| for the Year Ended 31 March 2026 |
| 1. | STATUTORY INFORMATION |
| Neate Automotive Limited is a |
| The presentation currency of the financial statements is the Pound Sterling (£). |
| 2. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| 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 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 |
| Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life. |
| Plant and machinery - 33.33% on cost |
| Fixtures and fittings - 33.33% on cost |
| Motor vehicles - 33.33% on cost |
| 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. |
| Taxation |
| Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. |
| Current or deferred taxation assets and liabilities are not discounted. |
| Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the statement of financial position date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position date. |
| Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference. |
| 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. |
| Neate Automotive Limited (Registered number: 07758122) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 2. | ACCOUNTING POLICIES - continued |
| Hire purchase and leasing commitments |
| Assets obtained under hire purchase contracts are capitalised in the Statement of Financial Position. Those held under hire purchase contracts are depreciated using the company's appropriate depreciation policies. |
| The interest element of these obligations is charged to the Income Statement over the relevant period d.The capital element of the future payments is treated as a liability. |
| Rentals paid under operating leases are charged to the Income Statement on a straight line basis over the period of the lease. |
| Pension costs and other post-retirement benefits |
| The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate. |
| 3. | EMPLOYEES AND DIRECTORS |
| The average number of employees during the year was |
| 4. | TANGIBLE FIXED ASSETS |
| Fixtures |
| Plant and | and | Motor |
| machinery | fittings | vehicles | Totals |
| £ | £ | £ | £ |
| COST |
| At 1 April 2025 |
| Additions |
| Disposals | ( |
) | ( |
) | ( |
) |
| At 31 March 2026 |
| DEPRECIATION |
| At 1 April 2025 |
| Charge for year |
| Eliminated on disposal | ( |
) | ( |
) | ( |
) |
| At 31 March 2026 |
| NET BOOK VALUE |
| At 31 March 2026 |
| At 31 March 2025 |
| 5. | STOCKS |
| 2026 | 2025 |
| £ | £ |
| Stocks |
| 6. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Trade debtors |
| Amounts owed by group undertakings |
| Other debtors |
| Directors' current accounts | 7,151 | - |
| Prepayments and accrued income |
| Neate Automotive Limited (Registered number: 07758122) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 7. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans and overdrafts |
| Hire purchase contracts (see note 9) |
| Trade creditors |
| Amounts owed to group undertakings |
| Tax |
| Social security and other taxes |
| VAT | 125,824 | 113,954 |
| Other creditors |
| Claudia Smith dividends | 3,360 | - |
| Directors' current accounts | 3,413 | 8,499 |
| Accruals and deferred income |
| 8. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2026 | 2025 |
| £ | £ |
| Bank loans - 1-2 years |
| Hire purchase contracts (see note 9) |
| Hire purchase contracts are secured on the assets owned under hire purchase contracts |
| 9. | LEASING AGREEMENTS |
| Minimum lease payments fall due as follows: |
| Hire purchase |
| contracts |
| 2026 | 2025 |
| £ | £ |
| Net obligations repayable: |
| Within one year |
| Between one and five years |
| Non-cancellable |
| operating leases |
| 2026 | 2025 |
| £ | £ |
| Within one year |
| Between one and five years |
| Neate Automotive Limited (Registered number: 07758122) |
| Notes to the Financial Statements - continued |
| for the Year Ended 31 March 2026 |
| 10. | DIRECTORS' ADVANCES, CREDITS AND GUARANTEES |
| The following advances and credits to directors subsisted during the years ended 31 March 2026 and 31 March 2025: |
| 2026 | 2025 |
| £ | £ |
| Balance outstanding at start of year | ( |
) | ( |
) |
| Amounts advanced |
| Amounts repaid | ( |
) | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |
| Balance outstanding at start of year |
| Amounts repaid | ( |
) |
| Amounts written off | - | - |
| Amounts waived | - | - |
| Balance outstanding at end of year | ( |
) |