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REGISTERED NUMBER: 10143668 (England and Wales)















UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 APRIL 2024

FOR

NEAM PROPERTY LIMITED

NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024










Page

Statement of Financial Position 1

Notes to the Financial Statements 3


NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

STATEMENT OF FINANCIAL POSITION
30 APRIL 2024

2024 2023
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 15,667 15,889
Investment property 5 858,423 524,295
874,090 540,184

CURRENT ASSETS
Cash at bank 922 197,275

CREDITORS
Amounts falling due within one year 6 372,919 360,273
NET CURRENT LIABILITIES (371,997 ) (162,998 )
TOTAL ASSETS LESS CURRENT
LIABILITIES

502,093

377,186

CREDITORS
Amounts falling due after more than one
year

7

(348,426

)

(206,636

)

PROVISIONS FOR LIABILITIES (35,848 ) (26,852 )
NET ASSETS 117,819 143,698

CAPITAL AND RESERVES
Called up share capital 10 300 300
Other reserves 11 95,792 98,835
Retained earnings 11 21,727 44,563
SHAREHOLDERS' FUNDS 117,819 143,698

The Company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 April 2024.

The members have not required the Company to obtain an audit of its financial statements for the year ended 30 April 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.

NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

STATEMENT OF FINANCIAL POSITION - continued
30 APRIL 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 Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 20 January 2025 and were signed on its behalf by:





S D Croft - Director


NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 APRIL 2024


1. STATUTORY INFORMATION

Neam Property Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address are as below:

Registered number: 10143668

Registered office: 368 Forest Road
London
E17 5JF

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 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 each asset over its estimated useful life.
Fixtures and fittings - 20% 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.

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 statement of financial position date.


NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


2. ACCOUNTING POLICIES - continued
Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the statement of financial position 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.

Going concern
The financial statements have been prepared on the going concern basis which the Directors believe to be appropriate. The Directors have provided the Company with an undertaking that for at least twelve months from the date of approval of these financial statements that they will continue to make available such funds as are needed by the Company to enable the Company to continue in operational existence.

3. EMPLOYEES AND DIRECTORS

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

4. TANGIBLE FIXED ASSETS
Fixtures
and
fittings
£   
COST
At 1 May 2023 27,878
Additions 3,695
At 30 April 2024 31,573
DEPRECIATION
At 1 May 2023 11,989
Charge for year 3,917
At 30 April 2024 15,906
NET BOOK VALUE
At 30 April 2024 15,667
At 30 April 2023 15,889

NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 May 2023 524,295
Additions 328,423
Revaluations 5,705
At 30 April 2024 858,423
NET BOOK VALUE
At 30 April 2024 858,423
At 30 April 2023 524,295

Fair value at 30 April 2024 is represented by:
£   
Valuation in 2024 127,723
Cost 730,700
858,423

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2024 2023
£    £   
Bank loans and overdrafts (see note 8) 2,346 2,346
Trade creditors 683 664
Amounts owed to connected undertakings 358,598 335,607
Taxation and social security - 8,761
Other creditors 11,292 12,895
372,919 360,273

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2024 2023
£    £   
Bank loans (see note 8) 348,426 206,636

Amounts falling due in more than five years:

Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 345,930 201,948

NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


8. LOANS

An analysis of the maturity of loans is given below:

2024 2023
£    £   
Amounts falling due within one year or on demand:
Bank loans 2,346 2,346

Amounts falling due between one and two years:
Bank loans - 1-2 years 2,346 2,346

Amounts falling due between two and five years:
Bank loans - 2-5 years 150 2,342

Amounts falling due in more than five years:
Repayable otherwise than by instalments
Bank loans more 5 yrs non-inst 345,930 201,948

9. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 350,772 208,982

The bank loans are secured by the Company's land and buildings which have a carrying value of £550,000. Bank loans include a loan drawn down in July 2016. The loan is interest only, bears interest at 4.19% per annum and is repayable in 2041. The directors consider that the carrying amounts of the bank loans approximate to their fair value.

10. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2024 2023
value: £    £   
100 Ordinary £1 100 100
100 Ordinary A £1 100 100
100 Ordinary B £1 100 100
300 300

NEAM PROPERTY LIMITED (REGISTERED NUMBER: 10143668)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30 APRIL 2024


11. RESERVES
Retained Other
earnings reserves Totals
£    £    £   

At 1 May 2023 44,563 98,835 143,398
Deficit for the year (25,879 ) - (25,879 )
Transfers 3,043 (3,043 ) -
At 30 April 2024 21,727 95,792 117,519

12. RELATED PARTY DISCLOSURES

Included in other creditors is an amount of £7,081 (2023 - £8,577) owed to the directors by the company.

Included in other creditors is an amount of £358,598 (2023-£335,607) owed to Orangery Creative Limited, a connected company.