Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-30The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.2023-07-01falseletting and operating of owned or leased real estate.53falsetrue 13625492 2023-07-01 2024-06-30 13625492 2022-07-01 2023-06-30 13625492 2024-06-30 13625492 2023-06-30 13625492 c:Director4 2023-07-01 2024-06-30 13625492 c:Director4 2024-06-30 13625492 c:Director5 2023-07-01 2024-06-30 13625492 c:Director5 2024-06-30 13625492 c:Director6 2023-07-01 2024-06-30 13625492 c:Director6 2024-06-30 13625492 c:Director7 2023-07-01 2024-06-30 13625492 c:Director7 2024-06-30 13625492 c:Director8 2023-07-01 2024-06-30 13625492 c:Director8 2024-06-30 13625492 c:RegisteredOffice 2023-07-01 2024-06-30 13625492 d:FreeholdInvestmentProperty 2024-06-30 13625492 d:FreeholdInvestmentProperty 2023-06-30 13625492 d:CurrentFinancialInstruments 2024-06-30 13625492 d:CurrentFinancialInstruments 2023-06-30 13625492 d:Non-currentFinancialInstruments 2024-06-30 13625492 d:Non-currentFinancialInstruments 2023-06-30 13625492 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 13625492 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13625492 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 13625492 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 13625492 d:ShareCapital 2024-06-30 13625492 d:ShareCapital 2023-06-30 13625492 d:RevaluationReserve 2024-06-30 13625492 d:RevaluationReserve 2023-06-30 13625492 d:RetainedEarningsAccumulatedLosses 2024-06-30 13625492 d:RetainedEarningsAccumulatedLosses 2023-06-30 13625492 c:FRS102 2023-07-01 2024-06-30 13625492 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13625492 c:FullAccounts 2023-07-01 2024-06-30 13625492 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13625492 4 2023-07-01 2024-06-30 13625492 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 13625492














NEG THE TREATY SUB 3 LIMITED
UNAUDITED
FINANCIAL STATEMENTS
INFORMATION FOR FILING WITH THE REGISTRAR
FOR THE YEAR ENDED 30 JUNE 2024

 
NEG THE TREATY SUB 3 LIMITED
 
 
COMPANY INFORMATION


Directors
I Hanokh (appointed 29 March 2024)
D Liberman (appointed 29 March 2024)
R B Michael (appointed 29 March 2024)
I I Perl (appointed 29 March 2024)
U Segal (appointed 29 March 2024)




Registered number
13625492



Registered office
13-14 Welbeck Street

London

United Kingdom

W1G 9XU




Accountants
Sopher + Co LLP
Chartered Accountants

5 Elstree Gate

Elstree Way

Borehamwood

Hertfordshire

WD6 1JD





 
NEG THE TREATY SUB 3 LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 7


 
NEG THE TREATY SUB 3 LIMITED
REGISTERED NUMBER:13625492

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
8,000,000
8,000,000

Current assets
  

Debtors: amounts falling due within one year
 5 
798,685
432,768

Cash at bank and in hand
  
139,454
105,304

  
938,139
538,072

Current liabilities
  

Creditors: amounts falling due within one year
 6 
(6,027,671)
(5,477,203)

Net current liabilities
  
 
 
(5,089,532)
 
 
(4,939,131)

Total assets less current liabilities
  
2,910,468
3,060,869

Creditors: amounts falling due after more than one year
 7 
(3,887,948)
(3,497,635)

Net liabilities
  
(977,480)
(436,766)


Capital and reserves
  

Called up share capital 
  
100
100

Fair value reserve
  
512,227
512,227

Profit and loss account
  
(1,489,807)
(949,093)

  
(977,480)
(436,766)


Page 1

 
NEG THE TREATY SUB 3 LIMITED
REGISTERED NUMBER:13625492
    
STATEMENT OF FINANCIAL POSITION (CONTINUED)
AS AT 30 JUNE 2024

The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements.

The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities.

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

The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime.

The financial statements were approved and authorised for issue by the board and were signed on its behalf by: 




U Segal
Director

Date: 26 June 2025

The notes on pages 3 to 7 form part of these financial statements.

Page 2

 
NEG THE TREATY SUB 3 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

1.


General information

NEG The Treaty Sub 3 Limited is a private company limited by shares in incorporated in England and Wales. The registered office is 13-14 Welbeck Street, London, United Kingdom, W1C 2NB.
The principal activity of the company continued to be that of the letting and operating of owned or leased real estate.
The company's functional and presentational currency is £ Sterling.

2.Accounting policies

 
2.1

Basis of preparation of financial statements

The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

The Company is deemed to be a going concern and therefore the accounts have been prepared on the going concern basis. The Directors and its parent company will pay liabilities as they fall due and fulfil negative reserves through the continued support of cash injections. On the basis of the above, the shareholders consider the above, the Company to be a going concern for the foreseeable future.

 
2.3

Turnover

Turnover represents rental income received from the company's investment property net of value added tax.  Rental income is recognised on a calendar basis.

 
2.4

Finance costs

Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.

 
2.5

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.6

Taxation

Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income.

Page 3

 
NEG THE TREATY SUB 3 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)

 
2.7

Exceptional items

Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.

 
2.8

Investment property

Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss.

 
2.9

Debtors

Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.

 
2.10

Cash and cash equivalents

Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.

 
2.11

Creditors

Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.

 
2.12

Financial instruments

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The Company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.

Financial liabilities

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instruments any contract that evidences a residual interest in the assets of the Company after the deduction of all its liabilities.

Basic financial liabilities, which include trade and other payables, bank loans and other loans are initially measured at their transaction price after transaction costs. When this constitutes a financing transaction, whereby the debt instrument is measured at the present value of the future receipts
Page 4

 
NEG THE TREATY SUB 3 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

2.Accounting policies (continued)


2.12
Financial instruments (continued)

discounted at a market rate of interest. Discounting is omitted where the effect of discounting is immaterial.

Debt instruments are subsequently carried at their amortised cost using the effective interest rate method.

Trade payables are obligations to pay for goods and services that have been acquired in the ordinary course of business from suppliers. Trade payables are classified as current liabilities if the payment is due within one year. If not, they represent non-current liabilities. Trade payables are initially recognised at their transaction price and subsequently are measured at amortised cost using the effective interest method. Discounting is omitted where the effect of discounting is immaterial.


3.


Employees

The average monthly number of employees, including directors, during the year was 5 (2023 - 3).


4.


Investment property


Freehold investment property

£



Valuation


At 1 July 2023
8,000,000



At 30 June 2024
8,000,000

The investment property was valued at 30 June 2024 by the directors with no change in the fair value being required.





5.


Debtors

2024
2023
£
£


Trade debtors
22,695
10,362

Other debtors
775,990
397,406

Prepayments and accrued income
-
25,000

798,685
432,768


Page 5

 
NEG THE TREATY SUB 3 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
5,581,585
5,265,578

Trade creditors
11,498
5,036

Other taxation and social security
135,263
45,076

Other creditors
257,754
83,275

Accruals and deferred income
41,571
78,238

6,027,671
5,477,203



7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
3,887,948
3,497,635

3,887,948
3,497,635


The following liabilities were secured:

2024
2023
£
£



Other loans
9,469,533
8,763,213

9,469,533
8,763,213

Details of security provided:

Other loans are secured by way of a fixed and floating charge over the property of the company.


8.


Related party transactions

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK', not to disclose related party transactions with wholly owned subsidiaries within the group.
Included within other debtors are amounts totalling £775,890 (2023 - £397,306) owed by entities under common control and ownership.
Included within other creditors is £137,322 (2023 - £Nil) owed to one of the directors.  This amount is interest free and repayable on demand.

Page 6

 
NEG THE TREATY SUB 3 LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 JUNE 2024

9.


Controlling party

The ultimate parent company and controlling party is NEG The Treaty 3 Holdings Limited.

 
Page 7