ACCOUNTS - Final Accounts preparation

NEATRUN PROPERTIES LIMITED - Company Information

Caseware UK (AP4) 2021.0.152 2021.0.152 2021-08-312022-05-232021-08-312022-05-232020-09-01falseNo description of principal activity11falsetrueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006. 02339884 2020-09-01 2021-08-31 02339884 2019-09-01 2020-08-31 02339884 2021-08-31 02339884 2020-08-31 02339884 c:Director1 2020-09-01 2021-08-31 02339884 d:CurrentFinancialInstruments 2021-08-31 02339884 d:CurrentFinancialInstruments 2020-08-31 02339884 d:Non-currentFinancialInstruments 2021-08-31 02339884 d:Non-currentFinancialInstruments 2020-08-31 02339884 d:CurrentFinancialInstruments d:WithinOneYear 2021-08-31 02339884 d:CurrentFinancialInstruments d:WithinOneYear 2020-08-31 02339884 d:Non-currentFinancialInstruments d:AfterOneYear 2021-08-31 02339884 d:Non-currentFinancialInstruments d:AfterOneYear 2020-08-31 02339884 d:ShareCapital 2021-08-31 02339884 d:ShareCapital 2020-08-31 02339884 d:RetainedEarningsAccumulatedLosses 2021-08-31 02339884 d:RetainedEarningsAccumulatedLosses 2020-08-31 02339884 c:FRS102 2020-09-01 2021-08-31 02339884 c:AuditExemptWithAccountantsReport 2020-09-01 2021-08-31 02339884 c:FullAccounts 2020-09-01 2021-08-31 02339884 c:PrivateLimitedCompanyLtd 2020-09-01 2021-08-31 02339884 d:EntityControlledByKeyManagementPersonnel1 2020-09-01 2021-08-31 02339884 d:EntityControlledByKeyManagementPersonnel1 2021-08-31 02339884 d:EntityControlledByKeyManagementPersonnel1 2020-08-31 02339884 2 2020-09-01 2021-08-31 iso4217:GBP xbrli:pure

Registered number: 02339884

NEATRUN PROPERTIES LIMITED

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 AUGUST 2021

NEATRUN PROPERTIES LIMITED

CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NEATRUN PROPERTIES LIMITED
FOR THE YEAR ENDED 31 AUGUST 2021

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of Neatrun Properties Limited for the year ended 31 August 2021 which comprise the Balance sheet and the related notes from the Company's accounting records and from information and explanations you have given us.

As a practising member firm of the Institute of Chartered Accountants in England and Wales (ICAEW), we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of Neatrun Properties Limited in accordance with the terms of our engagement letter dated 7 March 2022. Our work has been undertaken solely to prepare for your approval the financial statements of Neatrun Properties Limited and state those matters that we have agreed to state to the director of Neatrun Properties Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Neatrun Properties Limited and its director for our work or for this report.

It is your duty to ensure that Neatrun Properties Limited has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of Neatrun Properties Limited. You consider that Neatrun Properties Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of Neatrun Properties Limited. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.

MA Partners LLP

Chartered Accountants

7 The Close

Norwich

Norfolk

NR1 4DJ

23 May 2022

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NEATRUN PROPERTIES LIMITED

REGISTERED NUMBER: 02339884

BALANCE SHEET

AS AT 31 AUGUST 2021

		2021		2020
Note		£		£


Current assets
Debtors: amounts falling due within one year	4	68,435		65,216
Cash at bank and in hand		4,878		11,144
		73,313		76,360
Creditors: amounts falling due within one year	5	(22,002)		(19,518)
Net current assets			51,311		56,842
Total assets less current liabilities			51,311		56,842
Creditors: amounts falling due after more than one year	6		(38,259)		(47,696)

Net assets			13,052		9,146

Capital and reserves
Called up share capital	200	200
Profit and loss account	12,852	8,946
	13,052	9,146

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NEATRUN PROPERTIES LIMITED

REGISTERED NUMBER: 02339884

BALANCE SHEET (CONTINUED)

AS AT 31 AUGUST 2021

The director considers that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared 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 financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The Company has opted not to file the profit and loss account in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf on 23 May 2022.

J Howard

Director

The notes on pages 4 to 6 form part of these financial statements.

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NEATRUN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

1.	General information

Neatrun Properties Limited is a United Kingdom company limited by shares. It is incorporated and domiciled in England and Wales. The registered office address is Claydon Hall, Claydon, Ipswich, IP6 0EL.
The Company's principal activity is property management in England.

2.Accounting policies

2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

2.2

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:

∙the amount of revenue can be measured reliably;

∙it is probable that the Company will receive the consideration due under the contract;

∙the stage of completion of the contract at the end of the reporting period can be measured reliably; and

∙the costs incurred and the costs to complete the contract can be measured reliably.

2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

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NEATRUN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

2.Accounting policies (continued)

2.5

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the balance sheet date in the countries where the Company operates and generates income.

2.6

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

2.7

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

2.8

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

2.9

Financial instruments

The Company only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received.

2.10

Dividends

Equity dividends are recognised when they become legally payable. Interim equity dividends are recognised when paid. Final equity dividends are recognised when approved by the shareholders at an annual general meeting.

Employees

The average monthly number of employees, including directors, during the year was 1 (2020 - 1).

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NEATRUN PROPERTIES LIMITED

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2021

Debtors

					2021	2020
					£	£


Trade debtors	10,000	14,000
Other debtors	58,435	51,216
	68,435	65,216

5.	Creditors: Amounts falling due within one year
		2021	2020
		£	£

Bank overdrafts	1,344	1,344
Bank loans	9,241	2,304
Corporation tax	4,391	2,118
Other creditors	5,587	12,587
Accruals and deferred income	1,439	1,165
	22,002	19,518

6.	Creditors: Amounts falling due after more than one year
		2021	2020
		£	£

Bank loans	38,259	47,696
	38,259	47,696

7.	Transactions with directors

As at 1 September 2020, the balance owed by the director was £24,429. During the year the company paid personal expenses of £23,500 on behalf of the director who reimbursed the company with £25,312. Interest was charged as at a rate of 2.5% per annum on the overdrawn balance and amounted to £588 for the year.
As a result the balance owed by the director was £23,205 at the year end. The loan is repayable on demand.

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