Company Registration No. 3153212 (England and Wales)
Neat Acoustics Limited
Unaudited accounts
for the year ended 28 February 2023
Neat Acoustics Limited
Unaudited accounts
Contents
Neat Acoustics Limited
Company Information
for the year ended 28 February 2023
Company Number
3153212 (England and Wales)
Registered Office
29B HARMIRE ENTERPRISE PARK
BARNARD CASTLE
COUNTY DURHAM
DL12 8XT
Accountants
JLA Accounting Limited
9 Flora Avenue
Darlington
DL3 8PF
Neat Acoustics Limited
Statement of financial position
as at 28 February 2023
Tangible assets
10,859
15,153
Inventories
226,709
162,831
Cash at bank and in hand
7,312
43,414
Creditors: amounts falling due within one year
(150,040)
(124,595)
Net current assets
154,508
171,022
Total assets less current liabilities
165,367
186,175
Creditors: amounts falling due after more than one year
(100,258)
(148,603)
Called up share capital
16,536
16,536
Profit and loss account
48,573
21,036
Shareholders' funds
65,109
37,572
For the year ending 28 February 2023 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 director acknowledges his 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 and in accordance with the provisions of FRS 102 Section 1A - Small Entities. The profit and loss account has not been delivered to the Registrar of Companies.
The financial statements were approved by the Board and authorised for issue on 27 November 2023 and were signed on its behalf by
R Surgeoner
Director
Company Registration No. 3153212
Neat Acoustics Limited
Notes to the Accounts
for the year ended 28 February 2023
Neat Acoustics Limited is a private company, limited by shares, registered in England and Wales, registration number 3153212. The registered office is 29B HARMIRE ENTERPRISE PARK, BARNARD CASTLE, COUNTY DURHAM, DL12 8XT.
2
Compliance with accounting standards
The accounts have been prepared in accordance with the provisions of FRS 102 Section 1A Small Entities. There were no material departures from that standard.
The principal accounting policies adopted in the preparation of the financial statements are set out below and have remained unchanged from the previous year, and also have been consistently applied within the same accounts.
The accounts have been prepared under the historical cost convention as modified by the revaluation of certain fixed assets.
The accounts are presented in £ sterling.
Tangible fixed assets and depreciation
Tangible assets are included at cost less depreciation and impairment. Depreciation has been provided at the following rates in order to write off the assets over their estimated useful lives:
Land & buildings
Leasehold - straight line over the life of the lease
Motor vehicles
25% straight line
Fixtures & fittings
20% per annum reducing balance
Computer equipment
33.33% straight line
Inventories have been valued at the lower of cost and estimated selling price less costs to complete and sell.
Rentals applicable to operating leases where substantially all of the benefits and risks of ownership remain with the lessor are charged against profit on a straight line basis over the lease term.
Assets held under finance leases and hire purchase contracts are capitalised and depreciated over their useful lives. The corresponding lease or hire purchase obligation is treated in the balance sheet as a liability. The interest element of rental obligations is charged to the profit and loss account over the period of the lease at a constant proportion of the outstanding balance of capital repayments.
Neat Acoustics Limited
Notes to the Accounts
for the year ended 28 February 2023
4
Tangible fixed assets
Land & buildings
Motor vehicles
Fixtures & fittings
Computer equipment
Total
Cost or valuation
At cost
At cost
At cost
At cost
At 1 March 2022
2,119
9,996
104,243
867
117,225
At 28 February 2023
2,119
9,996
104,243
867
117,225
At 1 March 2022
2,118
2,707
96,712
535
102,072
Charge for the year
-
2,499
1,506
289
4,294
At 28 February 2023
2,118
5,206
98,218
824
106,366
At 28 February 2023
1
4,790
6,025
43
10,859
At 28 February 2022
1
7,289
7,531
332
15,153
Amounts falling due within one year
Trade debtors
1,680
22,928
Accrued income and prepayments
1,576
2,428
Other debtors
67,271
64,016
6
Creditors: amounts falling due within one year
2023
2022
Bank loans and overdrafts
48,656
48,656
Trade creditors
57,776
54,320
Taxes and social security
19,839
8,715
Other creditors
23,319
12,454
7
Creditors: amounts falling due after more than one year
2023
2022
Bank loans
100,258
148,603
8
Average number of employees
During the year the average number of employees was 6 (2022: 6).