Neuvo Home Furnishings Limited
Neuvo Home Furnishings Limited
Registered number: 6745823
Unaudited Financial Statements
For The Year Ended
30 November 2019
Graver & Co Ltd
Neuvo Home Furnishings Limited
Unaudited Financial Statements
For The Year Ended
30 November 2019
Unaudited Financial Statements
| Contents | |
| Page | |
|---|---|
| Balance Sheet | 1—2 |
| Notes to the Financial Statements | 3—5 |
Neuvo Home Furnishings Limited
Balance Sheet
As at
30 November 2019
Balance Sheet
Registered number:
6745823
For the year ending 30 November 2019 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
| 2019 | 2018 | ||||
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| Notes | £ | £ | £ | £ | |
| FIXED ASSETS | |||||
| Tangible Assets | 4 |
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| CURRENT ASSETS | |||||
| Stocks | 5 |
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| Debtors | 6 |
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| Cash at bank and in hand |
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| NET CURRENT ASSETS (LIABILITIES) |
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| TOTAL ASSETS LESS CURRENT LIABILITIES |
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| Creditors: Amounts Falling Due After More Than One Year | 7 |
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| PROVISIONS FOR LIABILITIES | |||||
| Deferred Taxation | 8 |
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| NET LIABILITIES |
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| CAPITAL AND RESERVES | |||||
| Called up share capital | 9 |
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| Profit and Loss Account |
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| SHAREHOLDERS' FUNDS | (28,757) | (28,413) | |||
Page 1
Neuvo Home Furnishings Limited
Balance Sheet (continued)
As at
30 November 2019
Directors' responsibilities:
-
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 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. - The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.
On behalf of the board
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Director
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Director
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The notes on pages 3 to 5 form part of these financial statements.
Page 2
Neuvo Home Furnishings Limited
Notes to the Financial Statements
For The Year Ended
30 November 2019
Notes to the Financial Statements
1.
Accounting Policies
1.1.
Basis of Preparation of Financial Statements
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.
Going Concern Disclosure
The accounts have been prepared on a going concern basis as at 30th November 2019 the liablities exceeded the assets by £28758 (£28413 - 2018). The company meets it's day to day working capital requirements through a loan provided by the shareholders who are also directors. In light of this ongoing support the directors believe that it is apprpriate to prepare the accounts on a going concern which assumes that the company will continue in operational existence for the forseeable future.
1.3.
Turnover
Turnover comprises the invoiced value of goods and services supplied by the company, net of Value Added Tax and trade discounts.All income is derived from activities within the UK.
1.4.
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 of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:
| Freehold |
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| Fixtures & Fittings |
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1.5.
Stocks and Work in Progress
Stocks and work in progress are valued at the lower of cost and net realisable value after making due allowance for obsolete and slow-moving stocks. Cost includes all direct costs and an appropriate proportion of fixed and variable overheads. Work-in-progress is reflected in the accounts on a contract by contract basis by recording turnover and related costs as contract activity progresses.
The directors reviewed stock at the year end and revalued to take into account obsolete and damaged stock. This revaluation resulted in the gross loss shown for the year.
3.
Average Number of Employees
Average number of employees, including directors, during the year was as follows:
| 2019 | 2018 | ||
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| Office and administration |
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| Sales, marketing and distribution |
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Page 3
Neuvo Home Furnishings Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2019
4.
Tangible Assets
| Land & Property | |||
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| Freehold | Fixtures & Fittings | Total | |
| £ | £ | £ | |
| Cost | |||
| As at
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| As at
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| Depreciation | |||
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| Provided during the period |
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| Net Book Value | |||
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5.
Stocks
| 2019 | 2018 | ||
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| £ | £ | ||
| Stock - finished goods |
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6.
Debtors
| 2019 | 2018 | ||
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| £ | £ | ||
| Due within one year | |||
| Prepayments and accrued income |
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7.
Creditors: Amounts Falling Due After More Than One Year
| 2019 | 2018 | ||
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| £ | £ | ||
| Other creditors |
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| Directors loan account |
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Page 4
Neuvo Home Furnishings Limited
Notes to the Financial Statements (continued)
For The Year Ended
30 November 2019
8.
Deferred Taxation
The provision for deferred taxation is made up of accelerated capital allowances
| 2019 | 2018 | ||
|---|---|---|---|
| £ | £ | ||
| Deferred tax |
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10.
Related Party Transactions
11.
General Information
Neuvo Home Furnishings Limited
is a private company, limited by shares, incorporated in England & Wales, registered number
6745823
. The registered office is 1 Station Road, Brundall, Norfolk, NR13 5LA.
Page 5