Company Registration No. 07439294 (England and Wales)
NEO DIRECT LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2014
NEO DIRECT LTD
CONTENTS
Page
Abbreviated balance sheet
1 - 2
Notes to the abbreviated accounts
3 - 4
NEO DIRECT LTD
ABBREVIATED BALANCE SHEET
AS AT
31 DECEMBER 2014
31 December 2014
- 1 -
2014
2013
Notes
£
£
£
£
Fixed assets
Intangible assets
2
89,731
86,700
Tangible assets
2
45,047
25,272
134,778
111,972
Current assets
Stocks
153,617
112,862
Debtors
9,549
6,787
Cash at bank and in hand
77,114
118,392
240,280
238,041
Creditors: amounts falling due within one year
(185,587)
(199,132)
Net current assets
54,693
38,909
Total assets less current liabilities
189,471
150,881
Provisions for liabilities
(7,440)
(2,813)
182,031
148,068
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
182,030
148,067
Shareholders' funds
182,031
148,068
NEO DIRECT LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2014
31 December 2014
- 2 -
For the financial year ended 31 December 2014 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476;
-
The director acknowledges his responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These abbreviated financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies' regime.
Approved by the Board for issue on 24 September 2015
Mr Michael Powell
Director
Company Registration No. 07439294
NEO DIRECT LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2014
- 3 -
1
Accounting policies
1.1
Accounting convention
The financial statements are prepared under the historical cost convention and in accordance with the Financial Reporting Standard for Smaller Entities (effective April 2008).
1.2
Compliance with accounting standards
The financial statements are prepared in accordance with applicable United Kingdom Accounting Standards (United Kingdom Generally Accepted Accounting Practice), which have been applied consistently (except as otherwise stated).
1.3
Turnover
Turnover represents amounts receivable for goods and services net of VAT and trade discounts.
1.4
Goodwill
Acquired goodwill is written off in equal annual instalments over its estimated useful economic life.
1.5
Website costs
Patents are valued at cost less accumulated amortisation. Amortisation is calculated to write off the cost in equal annual instalments over their estimated useful lives.
1.6
Tangible fixed assets and depreciation
Tangible fixed assets are stated at cost less depreciation. Depreciation is provided at rates calculated to write off the cost less estimated residual value of each asset over its expected useful life, as follows:
Land and buildings Leasehold
10% straight line
Plant and machinery
25% reducing balance
Fixtures, fittings & equipment
25% reducing balance
Motor vehicles
25% reducing balance
NEO DIRECT LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2014
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2014
102,000
36,939
138,939
Additions
10,163
37,588
47,751
Disposals
-
(4,898)
(4,898)
At 31 December 2014
112,163
69,629
181,792
Depreciation
At 1 January 2014
15,300
11,667
26,967
On disposals
-
(1,915)
(1,915)
Charge for the year
7,132
14,830
21,962
At 31 December 2014
22,432
24,582
47,014
Net book value
At 31 December 2014
89,731
45,047
134,778
At 31 December 2013
86,700
25,272
111,972
3
Share capital
2014
2013
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1