Company Registration No. 07439294 (England and Wales)
NEO DIRECT LTD
UNAUDITED ABBREVIATED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2015
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 2015
31 December 2015
- 1 -
2015
2014
Notes
£
£
£
£
Fixed assets
Intangible assets
2
87,838
89,731
Tangible assets
2
42,550
45,047
130,388
134,778
Current assets
Stocks
132,209
153,617
Debtors
52,118
9,549
Cash at bank and in hand
91,118
77,114
275,445
240,280
Creditors: amounts falling due within one year
(146,045)
(185,587)
Net current assets
129,400
54,693
Total assets less current liabilities
259,788
189,471
Provisions for liabilities
(7,618)
(7,440)
252,170
182,031
Capital and reserves
Called up share capital
3
1
1
Profit and loss account
252,169
182,030
Shareholders' funds
252,170
182,031
NEO DIRECT LTD
ABBREVIATED BALANCE SHEET (CONTINUED)
AS AT
31 DECEMBER 2015
31 December 2015
- 2 -
For the financial year ended 31 December 2015 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Director's responsibilities:
-
The members have 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 30 August 2016
Mr Michael Powell
Director
Company Registration No. 07439294
NEO DIRECT LTD
NOTES TO THE ABBREVIATED ACCOUNTS
FOR THE YEAR ENDED 31 DECEMBER 2015
- 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 January 2015).
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
Website costs
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
1.7
Deferred taxation
Deferred taxation is provided in full in respect of taxation deferred by timing differences between the treatment of certain items for taxation and accounting purposes. The deferred tax balance has not been discounted.
NEO DIRECT LTD
NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)
FOR THE YEAR ENDED 31 DECEMBER 2015
- 4 -
2
Fixed assets
Intangible assets
Tangible assets
Total
£
£
£
Cost
At 1 January 2015
112,163
69,629
181,792
Additions
6,550
18,764
25,314
Disposals
-
(9,640)
(9,640)
At 31 December 2015
118,713
78,753
197,466
Depreciation
At 1 January 2015
22,432
24,582
47,014
On disposals
-
(2,410)
(2,410)
Charge for the year
8,443
14,031
22,474
At 31 December 2015
30,875
36,203
67,078
Net book value
At 31 December 2015
87,838
42,550
130,388
At 31 December 2014
89,731
45,047
134,778
3
Share capital
2015
2014
£
£
Allotted, called up and fully paid
1 ordinary share of £1 each
1
1