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REGISTERED NUMBER: 05644801 (England and Wales)















FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2023

FOR

NEO ENTERPRISES LIMITED

NEO ENTERPRISES LIMITED (REGISTERED NUMBER: 05644801)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023




Page

Company Information 1

Balance Sheet 2

Notes to the Financial Statements 4


NEO ENTERPRISES LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 December 2023







DIRECTOR: N Neocleous





SECRETARY: Mrs P Neocleous





REGISTERED OFFICE: 12 Gateway Mews
Ring Way
London
N11 2UT





REGISTERED NUMBER: 05644801 (England and Wales)





ACCOUNTANTS: G. George Associates Limited
Chartered Certified Accountants
12 Gateway Mews
Ring Way
London
N11 2UT

NEO ENTERPRISES LIMITED (REGISTERED NUMBER: 05644801)

BALANCE SHEET
31 December 2023

31.12.23 31.12.22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 4,654 3,632
Investment property 5 1,642,514 1,435,100
1,647,168 1,438,732

CURRENT ASSETS
Debtors 6 1,567 67,975
Cash at bank 11,663 23,424
13,230 91,399
CREDITORS
Amounts falling due within one year 7 15,349 27,693
NET CURRENT (LIABILITIES)/ASSETS (2,119 ) 63,706
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,645,049

1,502,438

CREDITORS
Amounts falling due after more than one year 8 (143,586 ) (78,860 )

PROVISIONS FOR LIABILITIES (89,052 ) (89,052 )
NET ASSETS 1,412,411 1,334,526

CAPITAL AND RESERVES
Called up share capital 100 100
Fair value reserve 10 419,482 419,482
Retained earnings 992,829 914,944
SHAREHOLDERS' FUNDS 1,412,411 1,334,526

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 December 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 December 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

NEO ENTERPRISES LIMITED (REGISTERED NUMBER: 05644801)

BALANCE SHEET - continued
31 December 2023


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

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the director and authorised for issue on 28 March 2024 and were signed by:





N Neocleous - Director


NEO ENTERPRISES LIMITED (REGISTERED NUMBER: 05644801)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 December 2023

1. STATUTORY INFORMATION

NEO ENTERPRISES LIMITED is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off the cost less estimated residual value of each asset over its estimated useful life.
Fixtures and fittings - 25% on reducing balance
Computer equipment - 25% on reducing balance

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Deferred taxation is provided on such surplus or deficit at the rate expected to apply when the property is sold.

The fair value profits on investment property is not a realised profit available for distribution. In order to differentiate the non-distributable profits with the distributable profits of the company, any fair value movements on investment property less the deferred tax on such movements is transferred from retained earnings to fair value reserves, which is a non-distributable reserve.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

NEO ENTERPRISES LIMITED (REGISTERED NUMBER: 05644801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2022 - NIL).

4. TANGIBLE FIXED ASSETS
Fixtures
and Computer
fittings equipment Totals
£    £    £   
COST
At 1 January 2023 4,612 2,365 6,977
Additions 2,573 - 2,573
At 31 December 2023 7,185 2,365 9,550
DEPRECIATION
At 1 January 2023 2,401 944 3,345
Charge for year 1,196 355 1,551
At 31 December 2023 3,597 1,299 4,896
NET BOOK VALUE
At 31 December 2023 3,588 1,066 4,654
At 31 December 2022 2,211 1,421 3,632

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 January 2023 1,435,100
Additions 207,414
At 31 December 2023 1,642,514
NET BOOK VALUE
At 31 December 2023 1,642,514
At 31 December 2022 1,435,100

Fair value at 31 December 2023 is represented by:
£   
Valuation in 2017 380,400
Valuation in 2018 60,420
Valuation in 2022 68,338
Cost 1,133,356
1,642,514

Investment properties were valued on an open market basis on 31 December 2023 by the director .

NEO ENTERPRISES LIMITED (REGISTERED NUMBER: 05644801)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 December 2023

6. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Trade debtors 1,567 1,351
Other debtors - 66,624
1,567 67,975

7. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31.12.23 31.12.22
£    £   
Taxation and social security 8,554 10,648
Other creditors 6,795 17,045
15,349 27,693

8. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31.12.23 31.12.22
£    £   
Bank loans 49,913 78,860
Other creditors 93,673 -
143,586 78,860

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 49,913 78,860

9. SECURED DEBTS

The following secured debts are included within creditors:

31.12.23 31.12.22
£    £   
Bank loans 49,913 78,860

10. RESERVES
Fair
value
reserve
£   
At 1 January 2023
and 31 December 2023 419,482