NEOBO_LIMITED - Accounts

NEOBO LTD - Company Information

Print Friendly Version

Company Registration No. 09190154 (England and Wales)

NEOBO LIMITED

UNAUDITED ABBREVIATED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 AUGUST 2016

NEOBO LIMITED

CONTENTS

Page

Abbreviated balance sheet

1 - 2

Notes to the abbreviated accounts

3 - 5

NEOBO LIMITED

ABBREVIATED BALANCE SHEET

AS AT

31 AUGUST 2016

- 1 -

2016

2015

as restated

Notes

Fixed assets

Tangible assets

1,233

Investments

1,500

2,733

1,500

Current assets

Debtors

105,815

136,657

Cash at bank and in hand

164

15,420

105,979

152,077

Creditors: amounts falling due within one year

(346,663)

(133,534)

Net current liabilities/(assets)

(240,684)

18,543

Total assets less current liabilities

(237,951)

20,043

Capital and reserves

Called up share capital

11,417

Share premium account

292,869

292,889

Profit and loss account

(542,237)

(284,263)

Shareholders' funds

(237,951)

20,043

NEOBO LIMITED

ABBREVIATED BALANCE SHEET (CONTINUED)

AS AT

31 AUGUST 2016

- 2 -

For the financial year ended 31 August 2016 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 24 May 2017

S L Mills

Director

Company Registration No. 09190154

NEOBO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS

FOR THE YEAR ENDED 31 AUGUST 2016

- 3 -

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).

The accounts have been prepared on a going concern basis. The company is expected to continue trading for the foreseeable future with the continued support of its directors and shareholders.

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

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:

Fixtures, fittings & equipment

25% reducing balance

1.5

Investments

Fixed asset investments are stated at cost less provision for diminution in value.

1.6

Deferred taxation

Full provision is made at the tax rates that are expected to apply in the periods in which the timing differences are expected to reverse based on the tax rates and laws that have been enacted or substantially enacted at the balance sheet date in respect of all timing differences which have arisen but not reversed at the balance sheet date. Timing differences are differences between the company's taxable profits and its results as stated in the accounts. Deferred tax is measured on a non-discounted basis. Deferred tax assets are only recognised where they arise from timing differences and their recoverability in the short term is regarded as more likely than not.

1.7

Foreign currency translation

Monetary assets and liabilities denominated in foreign currencies are translated into sterling at the rates of exchange ruling at the balance sheet date. Transactions in foreign currencies are recorded at the rate ruling at the date of the transaction. All differences are taken to profit and loss account.

NEOBO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

Accounting policies

(Continued)

- 4 -

1.8

Group accounts

The financial statements present information about the company as an individual undertaking and not about its group. The company and its subsidiary undertaking comprise a small-sized group. The company has therefore taken advantage of the exemptions provided by section 399 of the Companies Act 2006 not to prepare group accounts.

Fixed assets

Tangible assets

Investments

Total

Cost

At 1 September 2015

1,500

Additions

1,644

At 31 August 2016

1,644

1,500

3,144

Depreciation

At 1 September 2015

Charge for the year

411

At 31 August 2016

411

Net book value

At 31 August 2016

1,233

1,500

2,733

At 31 August 2015

1,500

Holdings of more than 20%

The company holds more than 20% of the share capital of the following companies:

Company

Country of registration or

Shares held

incorporation

Class

Subsidiary undertakings

Neobo UK Ltd

Ordinary

96.77

Neobo International Ltd

Ordinary

100.00

NEOBO LIMITED

NOTES TO THE ABBREVIATED ACCOUNTS (CONTINUED)

FOR THE YEAR ENDED 31 AUGUST 2016

Fixed assets

(Continued)

- 5 -

The aggregate amount of capital and reserves and the results of these undertakings for the last relevant financial year were as follows:

Capital and reserves

Profit/(loss) for the year

2016

Principal activity

Neobo UK Ltd

Flooring materials distribution

(154,932)

(134,668)

Neobo International Ltd

Flooring materials distribution

(7,834)

(690)

Share capital

2016

2015

Allotted, called up and fully paid

11,417 Ordinary of £1 each

11,417