Neatlook Ltd 31/10/2022 iXBRL

Neatlook Ltd 31/10/2022 iXBRL

NEATLOOK LIMITED - Company Information

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6 31/10/2022 2022-10-31 false false false false false false false false false false true false false true false false false false false false false No description of principal activities is disclosed 2022-04-01 Sage Accounts Production 21.0 - FRS102_2021 xbrli:pure xbrli:shares iso4217:GBP 06849190 2022-04-01 2022-10-31 06849190 2022-10-31 06849190 2022-03-31 06849190 2021-04-01 2022-03-31 06849190 2022-03-31 06849190 core:FurnitureFittingsToolsEquipment 2022-04-01 2022-10-31 06849190 core:MotorVehicles 2022-04-01 2022-10-31 06849190 bus:Director1 2022-04-01 2022-10-31 06849190 core:WithinOneYear 2022-10-31 06849190 core:WithinOneYear 2022-03-31 06849190 core:FurnitureFittingsToolsEquipment 2022-03-31 06849190 core:MotorVehicles 2022-03-31 06849190 core:FurnitureFittingsToolsEquipment 2022-10-31 06849190 core:AfterOneYear 2022-03-31 06849190 core:ShareCapital 2022-10-31 06849190 core:ShareCapital 2022-03-31 06849190 core:RetainedEarningsAccumulatedLosses 2022-10-31 06849190 core:RetainedEarningsAccumulatedLosses 2022-03-31 06849190 core:FurnitureFittingsToolsEquipment 2022-03-31 06849190 core:MotorVehicles 2022-03-31 06849190 bus:Director1 2022-03-31 06849190 bus:Director1 2022-10-31 06849190 bus:Director1 2021-03-31 06849190 bus:Director1 2022-03-31 06849190 bus:Director1 2021-04-01 2022-03-31 06849190 bus:SmallEntities 2022-04-01 2022-10-31 06849190 bus:AuditExemptWithAccountantsReport 2022-04-01 2022-10-31 06849190 bus:FullAccounts 2022-04-01 2022-10-31 06849190 bus:SmallCompaniesRegimeForAccounts 2022-04-01 2022-10-31 06849190 bus:PrivateLimitedCompanyLtd 2022-04-01 2022-10-31 06849190 core:WithinOneYear 2022-04-01 2022-10-31 06849190 core:AfterOneYear 2022-04-01 2022-10-31 06849190 core:OtherRelatedParties 2022-04-01 2022-10-31
Company registration number: 06849190
Neatlook Ltd
Unaudited filleted financial statements
31 October 2022
NEATLOOK LTD
STATEMENT OF FINANCIAL POSITION
31 OCTOBER 2022
31/10/22 31/03/22
Note £ £ £ £
Fixed assets
Tangible assets 5 1 32,227
_______ _______
1 32,227
Current assets
Stocks - 3,500
Debtors 6 8,871 39,057
Cash at bank and in hand 20,178 17,798
_______ _______
29,049 60,355
Creditors: amounts falling due
within one year 7 ( 27,617) ( 23,095)
_______ _______
Net current assets 1,432 37,260
_______ _______
Total assets less current liabilities 1,433 69,487
Creditors: amounts falling due
after more than one year 8 - ( 32,975)
Provisions for liabilities - ( 1,259)
_______ _______
Net assets 1,433 35,253
_______ _______
Capital and reserves
Called up share capital 100 100
Profit and loss account 9 1,333 35,153
_______ _______
Shareholders funds 1,433 35,253
_______ _______
For the period ending 31 October 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.
Directors responsibilities:
- The members have not required the company to obtain an audit of its financial statements for the period in question in accordance with section 476;
- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of financial statements.
These financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
In accordance with section 444 of the Companies Act 2006, the statement of comprehensive income has not been delivered.
These financial statements were approved by the board of directors and authorised for issue on 16 June 2023 , and are signed on behalf of the board by:
Mrs D G Williams
Director
Company registration number: 06849190
NEATLOOK LTD
NOTES TO THE FINANCIAL STATEMENTS
PERIOD ENDED 31 OCTOBER 2022
1. General information
The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 3 Longbridge Road, Marsh Mills, Plymouth, PL6 8LT.
Principal activity
The principal activity of the company is that of a public house.
2. Statement of compliance
These financial statements have been prepared in compliance with the provisions of FRS 102, Section 1A, 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.
3. Accounting policies
Basis of preparation
The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities measured at fair value through profit or loss.The financial statements are prepared in sterling, which is the functional currency of the entity.
Going concern
The accounts have not been prepared on the going concern basis as the company ceased trading activities in August 2022. No adjustments were deemed necessary to the financial statements.
Judgements and key sources of estimation uncertainty
The preparation of the financial statements requires management to make judgements, estimates and assumptions that affect the amounts reported. These estimates and judgements are continually reviewed and are based on experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.Accounting estimates and assumptions are made concerning the future and, by their nature, will rarely equal the related actual outcome.
Turnover
Turnover is measured at the fair value of the consideration received or receivable for goods supplied, stated net of discounts and of Value Added Tax.
Taxation
The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in the statement of comprehensive income, except to the extent that it relates to items recognised in other comprehensive income or directly in capital and reserves. In this case, tax is recognised in other comprehensive income or directly in capital and reserves, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.
Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.
Tangible assets
Tangible assets are initially recorded at cost, and is subsequently stated at cost less any accumulated depreciation and any accumulated impairment losses.
Depreciation
Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:
Fittings fixtures and equipment - 15 % reducing balance
Motor vehicles - 25 % reducing balance
If there is an indication that there has been a significant change in depreciation rate, useful life or residual value of tangible assets, the depreciation is revised prospectively to reflect the new estimates.
Impairment
A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date. When it is not possible to estimate the recoverable amount of an individual asset, an estimate is made of the recoverable amount of the cash-generating unit to which the asset belongs. The cash-generating unit is the smallest identifiable group of assets that includes the asset and generates cash inflows that are largely independent of the cash inflows from other assets or groups of assets.
Stocks
Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stocks to their present location and condition.
Government grants
Government grants are recognised at the fair value of the asset received or receivable. Grants are not recognised until there is reasonable assurance that the company will comply with the conditions attaching to them and the grants will be received.Government grants are recognised using the performance model.Under the performance model, where the grant does not impose specified future performance-related conditions on the recipient, it is recognised in income when the grant proceeds are received or receivable. Where the grant does impose specified future performance-related conditions on the recipient, it is recognised in income only when the performance-related conditions have been met. Where grants received are prior to satisfying the revenue recognition criteria, they are recognised as a liability.
Provisions
Provisions are recognised when the entity has an obligation at the reporting date as a result of a past event; it is probable that the entity will be required to transfer economic benefits in settlement and the amount of the obligation can be estimated reliably. Provisions are recognised as a liability in the statement of financial position and the amount of the provision as an expense. Provisions are initially measured at the best estimate of the amount required to settle the obligation at the reporting date and subsequently reviewed at each reporting date and adjusted to reflect the current best estimate of the amount that would be required to settle the obligation. Any adjustments to the amounts previously recognised are recognised in profit or loss unless the provision was originally recognised as part of the cost of an asset. When a provision is measured at the present value of the amount expected to be required to settle the obligation, the unwinding of the discount is recognised in finance costs in profit or loss in the period it arises.
Financial instruments
A financial asset or a financial liability is recognised only when the company becomes a party to the contractual provisions of the instrument. Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.
Defined contribution plans
Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided.
4. Employee numbers
The average number of persons employed by the company during the period amounted to 6 (2022: 6 ).
5. Tangible assets
Fixtures, fittings and equipment Motor vehicles Total
£ £ £
Cost
At 1 April 2022 11,493 34,134 45,627
Disposals ( 11,492) ( 34,134) ( 45,626)
_______ _______ _______
At 31 October 2022 1 - 1
_______ _______ _______
Depreciation
At 1 April 2022 4,866 8,534 13,400
Disposals ( 4,866) ( 8,534) ( 13,400)
_______ _______ _______
At 31 October 2022 - - -
_______ _______ _______
Carrying amount
At 31 October 2022 1 - 1
_______ _______ _______
At 31 March 2022 6,627 25,600 32,227
_______ _______ _______
6. Debtors
31/10/22 31/03/22
£ £
Other debtors 8,871 39,057
_______ _______
7. Creditors: amounts falling due within one year
31/10/22 31/03/22
£ £
Bank loans and overdrafts 7,500 2,000
Trade creditors - 542
Accruals and deferred income 4,000 3,738
Social security and other taxes 15,396 10,501
Other creditors 721 6,314
_______ _______
27,617 23,095
_______ _______
Other creditors include £nil (31/03/2022: £6,314) of hire purchase liabilities which are secured to the assets to which it relates.
8. Creditors: amounts falling due after more than one year
31/10/22 31/03/22
£ £
Bank loans and overdrafts - 6,667
Other creditors - 26,308
_______ _______
- 32,975
_______ _______
Other creditors include £nil (31/03/2022: £26,308) of hire purchase liabilities which are secured to the assets to which it relates.
9. Reserves
Profit and loss account:This reserve records retained earnings and accumulated losses.
10. Directors advances, credits and guarantees
During the period the directors entered into the following advances and credits with the company:
Period ended 31/10/22
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
21,538 19,644 ( 41,903) ( 721)
_______ _______ _______ _______
Year ended 31/03/22
Balance brought forward Advances /(credits) to the directors Amounts repaid Balance o/standing
£ £ £ £
31,404 47,134 ( 57,000) 21,538
_______ _______ _______ _______
This loan is repayable on demand and includes interest at the standard market rate.
11. Related party transactions
The premises of The Melbourne Inn are owned wholly by the directors and an agreement is in place to allow the continued business operations of The Melbourne Inn to be conducted on a rent free basis.