1 November 2022 v2024.35.1 limited_company_frs_102_section_1a_v1_1_1 companies_houseSoftwarefalsetruetruetrueNo description of principal activity00falsetruexbrli:purexbrli:sharesiso4217:GBP120077642022-11-012023-10-31120077642023-10-31120077642022-10-3112007764core:WithinOneYear2023-10-3112007764core:WithinOneYear2022-10-3112007764core:AfterOneYear2023-10-3112007764core:AfterOneYear2022-10-3112007764core:ShareCapital2023-10-3112007764core:ShareCapital2022-10-3112007764core:RevaluationReserve2023-10-3112007764core:RevaluationReserve2022-10-3112007764core:RetainedEarningsAccumulatedLosses2023-10-3112007764core:RetainedEarningsAccumulatedLosses2022-10-3112007764bus:Director12022-11-012023-10-3112007764bus:Director22022-11-012023-10-3112007764bus:RegisteredOffice2022-11-012023-10-311200776412022-11-012023-10-31120077642021-11-012022-10-3112007764countries:EnglandWales2022-11-012023-10-3112007764bus:AuditExemptWithAccountantsReport2022-11-012023-10-3112007764bus:PrivateLimitedCompanyLtd2022-11-012023-10-3112007764bus:SmallEntities2022-11-012023-10-3112007764bus:AbridgedAccounts2022-11-012023-10-31
Company registration number:
12007764
Neon Properties Limited
Unaudited Filleted Abridged Financial Statements for the year ended
31 October 2023
Neon Properties Limited
Report to the board of directors on the preparation of the unaudited statutory financial statements of Neon Properties Limited
Year ended
31 October 2023
As described on the abridged statement of financial position, the Board of Directors of
Neon Properties Limited
are responsible for the preparation of the
abridged financial statements
for the year ended
31 October 2023
, which comprise the income statement, statement of total comprehensive income, abridged statement of financial position, statement of changes in equity and related notes.
You consider that the company is exempt from an audit under the Companies Act 2006.
In accordance with your instructions I have compiled these unaudited abridged financial statements in order to assist you to fulfil your statutory responsibilities, from the accounting records and from information and explanations supplied to me.
PMC Partnership Ltd
Unit 42, The Coach House
St Mary's Business Centre
66-70 Bourne Rd
Bexley
DA5 1LU
United Kingdom
Neon Properties Limited
Abridged Statement of Financial Position
31 October 2023
20232022
Note££
Fixed assets    
Tangible assets 4
705,250
 
705,250
 
Current assets    
Debtors
80,626
 
270,730
 
Cash at bank and in hand
33,002
 
22,210
 
113,628
 
292,940
 
Creditors: amounts falling due within one year
(219,775
)
(265,464
)
Net current (liabilities)/assets
(106,147
)
27,476
 
Total assets less current liabilities 599,103   732,726  
Creditors: amounts falling due after more than one year
(360,372
)
(365,590
)
Provisions for liabilities
(78,850
)
(78,850
)
Net assets
159,881
 
288,286
 
Capital and reserves    
Called up share capital
2
 
2
 
Revaluation reserve
385,450
 
385,450
 
Profit and loss account
(225,571
)
(97,166
)
Shareholders funds
159,881
 
288,286
 
For the year ending
31 October 2023
, 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 abridged financial statements for the year 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 abridged financial statements.
All of the members have consented to the preparation of the abridged statement of financial position for the year ended
31 October 2023
in accordance with Section 444(2A) of the Companies Act 2006.
These
abridged 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.
These
abridged financial statements
were approved by the board of directors and authorised for issue on
30 July 2024
, and are signed on behalf of the board by:
Mrs N Gonul
Mr C Gonul
DirectorDirector
Company registration number:
12007764
Neon Properties Limited
Notes to the Abridged Financial Statements
Year ended
31 October 2023

1 General information

The company is a private company limited by shares and is registered in England and Wales. The address of the registered office is
16 Elmington Close
,
Bexley
,
DA5 1LY
, United Kingdom.

2 Accounting policies

Basis of preparation

The
abridged financial statements
have been prepared on the historical cost basis, as modified by the revaluation of certain assets.
The
abridged financial statements
are prepared in sterling, which is the functional currency of the company.

Tangible assets

Tangible assets are initially measured at cost, and are subsequently measured at cost less any accumulated depreciation and accumulated impairment losses or at a revalued amount.
Any tangible assets carried at a revalued amount are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.
An increase in the carrying amount of an asset as a result of a revaluation is recognised in other comprehensive income and accumulated in capital and reserves. However, the increase is recognised in profit or loss to the extent that it reverses a revaluation decrease of the same asset previously recognised in profit or loss. A decrease in the carrying amount of an asset as a result of revaluation is recognised in other comprehensive income to the extent of any previously recognised revaluation increase accumulated in capital and reserves. If a revaluation decrease exceeds the accumulated revaluation gains accumulated in capital and reserves in respect of that asset, the excess is recognised in profit or loss.

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.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is more likely than not that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured on an undiscounted basis at the tax rates that would apply in the periods in which timing differences are expected to reverse, based on tax rates and laws enacted at the statement of financial position date.

Provisions for liabilities

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.

3 Average number of employees

The average number of persons employed by the company during the year was Nil (2022: Nil).

4 Fixed assets

Tangible assets
£
Cost  
At
1 November 2022
and
31 October 2023
705,250
 
Depreciation  
At
1 November 2022
and
31 October 2023
-  
Carrying amount  
At
31 October 2023
705,250
 
At 31 October 2022
705,250