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REGISTERED NUMBER: 11147461 (England and Wales)



















NEO PROP CO. LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2024






NEO PROP CO. LIMITED (REGISTERED NUMBER: 11147461)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 6


NEO PROP CO. LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 JANUARY 2024







DIRECTORS: Miss F Allarakha
Ms S B Omar





REGISTERED OFFICE: Unit 2
Keys Road
Nixs Hill Industrial Estate
ALFRETON
DE55 7FQ





REGISTERED NUMBER: 11147461 (England and Wales)





ACCOUNTANTS: Johnson Tidsall Limited
Chartered Accountants
81 Burton Road
Derby
Derbyshire
DE1 1TJ

NEO PROP CO. LIMITED (REGISTERED NUMBER: 11147461)

BALANCE SHEET
31 JANUARY 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 - 238,042

CURRENT ASSETS
Debtors 5 10 10
Cash at bank 63,304 167
63,314 177
CREDITORS
Amounts falling due within one year 6 47,937 71,705
NET CURRENT ASSETS/(LIABILITIES) 15,377 (71,528 )
TOTAL ASSETS LESS CURRENT LIABILITIES 15,377 166,514

CREDITORS
Amounts falling due after more than one year 7 - 140,904
NET ASSETS 15,377 25,610

CAPITAL AND RESERVES
Called up share capital 9 10 10
Retained earnings 15,367 25,600
SHAREHOLDERS' FUNDS 15,377 25,610

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2024 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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 PROP CO. LIMITED (REGISTERED NUMBER: 11147461)

BALANCE SHEET - continued
31 JANUARY 2024


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 Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 27 March 2024 and were signed on its behalf by:





Miss F Allarakha - Director


NEO PROP CO. LIMITED (REGISTERED NUMBER: 11147461)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024


1. STATUTORY INFORMATION

Neo Prop Co. 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.

The presentation currency of the financial statements is the Pound Sterling (£).


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.

Turnover
Rental income shown in the profit and loss account represents amounts invoiced during the year exclusive of value added tax.

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.

Investment properties for which fair value can be measured reliably without undue cost or effort are measured at fair value at each reporting date with changes in fair value recognised in profit or loss.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, 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.

Financial instruments
Financial instruments are classified and accounted for, according to the substance of the contractual arrangement, as either financial assets, financial liabilities or equity instruments. An equity instrument is any contract that evidences a residual interest in the assets of the company after deducting all of its liabilities.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2023 - NIL).

NEO PROP CO. LIMITED (REGISTERED NUMBER: 11147461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 February 2023 238,042
Disposals (238,042 )
At 31 January 2024 -
NET BOOK VALUE
At 31 January 2024 -
At 31 January 2023 238,042

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Amounts owed by group undertakings 10 10

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts - 6,983
Trade creditors 552 -
Corporation tax - 1,686
VAT 45,541 531
Other creditors 670 61,281
Directors' current accounts 714 714
Accruals and deferred income 460 510
47,937 71,705

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR
2024 2023
£    £   
Bank loans - 2-5 years - 16,200
Bank loans >5 yr (instalments) - 124,704
- 140,904

Amounts falling due in more than five years:

Repayable by instalments
Bank loans >5 yr (instalments) - 124,704

NEO PROP CO. LIMITED (REGISTERED NUMBER: 11147461)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 JANUARY 2024


8. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Mortgage - 145,204

9. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
10 Ordinary £1 10 10

10. RELATED PARTY DISCLOSURES

Included in current liabilities is a loan from a company controlled by the directors of £670 (2023 £61,281) on which there are no fixed repayment terms and no interest is being charged.