Caseware UK (AP4) 2024.0.164 2024.0.164 2024-06-302024-06-303false2023-07-01falseletting and operating of owned or leased real estate.5trueThe members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.false 13622581 2023-07-01 2024-06-30 13622581 2022-07-01 2023-06-30 13622581 2024-06-30 13622581 2023-06-30 13622581 c:Director4 2023-07-01 2024-06-30 13622581 c:Director4 2024-06-30 13622581 c:Director5 2023-07-01 2024-06-30 13622581 c:Director5 2024-06-30 13622581 c:Director6 2023-07-01 2024-06-30 13622581 c:Director6 2024-06-30 13622581 c:Director7 2023-07-01 2024-06-30 13622581 c:Director7 2024-06-30 13622581 c:Director8 2023-07-01 2024-06-30 13622581 c:Director8 2024-06-30 13622581 c:RegisteredOffice 2023-07-01 2024-06-30 13622581 d:LeaseholdInvestmentProperty 2023-07-01 2024-06-30 13622581 d:LeaseholdInvestmentProperty 2024-06-30 13622581 d:LeaseholdInvestmentProperty 2023-06-30 13622581 d:CurrentFinancialInstruments 2024-06-30 13622581 d:CurrentFinancialInstruments 2023-06-30 13622581 d:Non-currentFinancialInstruments 2024-06-30 13622581 d:Non-currentFinancialInstruments 2023-06-30 13622581 d:CurrentFinancialInstruments d:WithinOneYear 2024-06-30 13622581 d:CurrentFinancialInstruments d:WithinOneYear 2023-06-30 13622581 d:Non-currentFinancialInstruments d:AfterOneYear 2024-06-30 13622581 d:Non-currentFinancialInstruments d:AfterOneYear 2023-06-30 13622581 d:ShareCapital 2024-06-30 13622581 d:ShareCapital 2023-06-30 13622581 d:OtherMiscellaneousReserve 2024-06-30 13622581 d:OtherMiscellaneousReserve 2023-06-30 13622581 d:RetainedEarningsAccumulatedLosses 2024-06-30 13622581 d:RetainedEarningsAccumulatedLosses 2023-06-30 13622581 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2024-06-30 13622581 d:FinancialAssetsDesignatedFairValueThroughProfitOrLoss 2023-06-30 13622581 c:FRS102 2023-07-01 2024-06-30 13622581 c:AuditExempt-NoAccountantsReport 2023-07-01 2024-06-30 13622581 c:FullAccounts 2023-07-01 2024-06-30 13622581 c:PrivateLimitedCompanyLtd 2023-07-01 2024-06-30 13622581 4 2023-07-01 2024-06-30 13622581 e:PoundSterling 2023-07-01 2024-06-30 iso4217:GBP xbrli:pure
Registered number: 13622581














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

 
NEG THE TREATY 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
13622581



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 LIMITED
 

CONTENTS



Page
Statement of Financial Position
 
 
1 - 2
Notes to the Financial Statements
 
 
3 - 8


 
NEG THE TREATY LIMITED
REGISTERED NUMBER:13622581

STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2024

2024
2023
Note
£
£

Fixed assets
  

Investment property
 4 
31,088,831
31,080,831

Current assets
  

Debtors: amounts falling due within one year
 5 
3,777,586
3,384,105

Cash at bank and in hand
  
1,454,266
1,197,298

  
5,231,852
4,581,403

Current liabilites
  

Creditors: amounts falling due within one year
 6 
(30,709,527)
(26,568,074)

Net current liabilities
  
 
 
(25,477,675)
 
 
(21,986,671)

Total assets less current liabilities
  
5,611,156
9,094,160

Creditors: amounts falling due after more than one year
 7 
(8,893,333)
(8,005,287)

Provisions for liabilities
  

Deferred tax
  
(958,104)
(958,104)

  
 
 
(958,104)
 
 
(958,104)

Net (liabilities)/assets
  
(4,240,281)
130,769


Capital and reserves
  

Called up share capital 
  
100
100

Fair value reserve
  
2,874,312
2,874,312

Profit and loss account
  
(7,114,693)
(2,743,643)

  
(4,240,281)
130,769

Page 1

 
NEG THE TREATY LIMITED
REGISTERED NUMBER:13622581
    
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 8 form part of these financial statements.

Page 2

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

1.


General information

NEG The Treaty 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, W1G 9XU.
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 FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view.

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.

Page 3

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

2.Accounting policies (continued)

 
2.6

Current and deferred taxation

The tax expense for the year comprises current and deferred tax. 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.

Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that:
The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and
Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met.

Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.

 
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.

Page 4

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

2.Accounting policies (continued)

 
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 payments 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).

Page 5

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

4.


Investment property


Long term leasehold investment property

£



Valuation


At 1 July 2023
31,080,831


Additions at cost
8,000



At 30 June 2024
31,088,831

The investment property was valued at 30 June 2024 by the directors on a fair value basis.





5.


Debtors

2024
2023
£
£


Trade debtors
2,505,714
1,914,655

Other debtors
1,031,389
1,276,372

VAT debtors
43,691
61,465

Prepayments and accrued income
196,792
131,613

3,777,586
3,384,105



6.


Creditors: Amounts falling due within one year

2024
2023
£
£

Other loans
26,051,123
22,355,871

Trade creditors
1,624,247
1,532,681

Amounts owed to group undertakings
499,900
499,900

Corporation tax
421,267
326,053

Other creditors
1,788,760
1,413,776

Accruals and deferred income
324,230
439,793

30,709,527
26,568,074


Page 6

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

7.


Creditors: Amounts falling due after more than one year

2024
2023
£
£

Other loans
8,893,333
8,005,287

8,893,333
8,005,287


The following liabilities were secured:

2024
2023
£
£



Other loans
34,944,456
30,361,159

34,944,456
30,361,159

Details of security provided:

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


8.


Financial instruments

2024
2023
£
£

Financial assets


Financial assets measured at fair value through profit or loss
1,454,266
-




Financial assets measured at fair value through profit or loss comprise...


9.


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 is £1,031,389 (2023 - £1,276,371) owed by an entity under common control and ownership.
Included within other creditors is £772,290 (2023 - £397,306) owed to an entity under common control and ownership.
Included within other loans is £6,614,596 (2023 - £4,224,762) owed to one of the directors.  Interest was charged at 11% per annum and repayable on demand,

Page 7

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

10.


Controlling party

The ultimate parent company and controlling party is NEG The Treaty 1 Holdings Limited.

 
Page 8