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REGISTERED NUMBER: OC316243 (England and Wales)















Abridged Unaudited Financial Statements for the Year Ended 31 March 2024

for

NEO INVESTMENTS LLP

NEO INVESTMENTS LLP (REGISTERED NUMBER: OC316243)






Contents of the Financial Statements
for the Year Ended 31 March 2024




Page

General Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


NEO INVESTMENTS LLP

General Information
for the Year Ended 31 March 2024







DESIGNATED MEMBERS: J Neofitou
G Neofitou





REGISTERED OFFICE: 27 Daventry Street
London
NW1 6TD





REGISTERED NUMBER: OC316243 (England and Wales)





ACCOUNTANTS: Garo & Co UK LLP
Chartered Certified Accountants
27 Daventry Street
London
NW1 6TD

NEO INVESTMENTS LLP (REGISTERED NUMBER: OC316243)

Abridged Balance Sheet
31 March 2024

31.3.24 31.3.23
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 3,665,000 4,325,000

CURRENT ASSETS
Debtors 4,061 1,492
Cash at bank 6,400 3,587
10,461 5,079
CREDITORS
Amounts falling due within one year 10,743 14,230
NET CURRENT LIABILITIES (282 ) (9,151 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

3,664,718

4,315,849

CREDITORS
Amounts falling due after more than one
year

1,467,351

1,467,233
NET ASSETS ATTRIBUTABLE TO
MEMBERS

2,197,367

2,848,616

LOANS AND OTHER DEBTS DUE TO
MEMBERS

6

2,197,367

2,848,616

TOTAL MEMBERS' INTERESTS
Loans and other debts due to members 6 2,197,367 2,848,616

The LLP is entitled to exemption from audit under Section 477 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 for the year ended 31 March 2024.

The members acknowledge their responsibilities for:
(a)ensuring that the LLP keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the LLP 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 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 relating to financial statements, so far as applicable to the LLP.

NEO INVESTMENTS LLP (REGISTERED NUMBER: OC316243)

Abridged Balance Sheet - continued
31 March 2024


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

All the members have consented to the preparation of an abridged Income Statement and an abridged Balance Sheet for the year ended 31 March 2024 in accordance with Section 444(2A) of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008.

In accordance with Section 444 of the Companies Act 2006 as applied to LLPs by the Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008, the Income Statement has not been delivered.

The financial statements were approved by the members of the LLP and authorised for issue on 27 November 2024 and were signed by:




J Neofitou - Designated member




G Neofitou - Designated member


NEO INVESTMENTS LLP (REGISTERED NUMBER: OC316243)

Notes to the Financial Statements
for the Year Ended 31 March 2024

1. STATUTORY INFORMATION

Neo Investments LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General 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 requirements of the Statement of Recommended Practice, Accounting by Limited Liability Partnerships. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover
There is no development activity during the current year. The turnover is attributable to the LLP's main activity, and is made up of rental income.

Investment property
Investment properties are properties held to earn rentals and/or for capital appreciation. Investment properties are initially measured at cost, including transaction costs. Subsequently investment properties whose fair value can be measured reliably without undue cost or effort on an on-going basis are measured at fair value. Gains and losses arising from changes in fair value of investment properties are included in the profit or loss in the period in which they arise.

3. EMPLOYEE INFORMATION

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

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 April 2023 4,325,000
Disposals (398,401 )
Revaluation to fair value (261,599 )
At 31 March 2024 3,665,000
NET BOOK VALUE
At 31 March 2024 3,665,000
At 31 March 2023 4,325,000

During the year the LLP sold one of its investment properties. The cost attributable to this property was £398,401 and its fair value at 31 March 2023 was £660,000.

The fair value of the remaining investment properties has been arrived at by the partners based upon the value of similar properties in the area and it does not differ from the professional valuations carried out in 2022.

The LLP has allowed a fixed charge over the LLP's investment properties as collateral for the bank loan.

NEO INVESTMENTS LLP (REGISTERED NUMBER: OC316243)

Notes to the Financial Statements - continued
for the Year Ended 31 March 2024

4. INVESTMENT PROPERTY - continued

Fair value at 31 March 2024 is represented by:
£   
Valuation in 2012 445,064
Valuation in 2018 1,200,000
Valuation in 2022 225,000
Valuation in 2024 (261,599 )
Cost 2,056,535
3,665,000

5. SECURED DEBTS

The following secured debts are included within creditors:

31.3.24 31.3.23
£    £   
Bank loans 1,467,351 1,467,233

The bank loan is secured by a fixed charge over the properties held by the LLP.

6. LOANS AND OTHER DEBTS DUE TO MEMBERS

In the event of winding up the amounts included in "Loans and other debts due to members" will rank equally with unsecured creditors.