Neon Homes LLP - Accounts to registrar (filleted)

REGISTERED NUMBER: OC388280 (England and Wales)

Unaudited Financial Statements for the Year Ended 31 December 2024

for

Neon Homes LLP

Page

General Information

1

Balance Sheet

2

Notes to the Financial Statements

5

DESIGNATED MEMBERS:

Greystone Developments UK Ltd

Dawson & Marsh Holdings Ltd

REGISTERED OFFICE:

Unit 24

Central Trading Estate

Signal Way

Swindon

Wiltshire

SN3 1PD

REGISTERED NUMBER:

OC388280 (England and Wales)

ACCOUNTANTS:

Morley & Co (UK) Ltd

Chartered Certified Accountants,

2 Cricklade Court

Old Town

Swindon

Wiltshire

SN1 3EY

FIXED ASSETS

Tangible assets

4

-

6,650

Investments

5

-

100

Investment property

6

-

1,349,441

-

1,356,191

CURRENT ASSETS

Stocks

7

-

248,167

Debtors

8

21,826

9,860

Cash at bank

39,798

283,807

61,624

541,834

CREDITORS

Amounts falling due within one year

9

22,356

99,312

NET CURRENT ASSETS

39,268

442,522

TOTAL ASSETS LESS CURRENT
LIABILITIES

39,268

1,798,713

CREDITORS

Amounts falling due after more than one
year

10

-

641,333

NET ASSETS ATTRIBUTABLE TO
MEMBERS

39,268

1,157,380

LOANS AND OTHER DEBTS DUE TO
MEMBERS

11

39,268

974,522

MEMBERS' OTHER INTERESTS

Fair value reserve

12

-

182,858

39,268

1,157,380

TOTAL MEMBERS' INTERESTS

Loans and other debts due to members

11

39,268

974,522

Members' other interests

-

182,858

Amounts due from members

8

(21,826

)

-

17,442

1,157,380

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 December 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.

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

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 24 September 2025 and were signed by:

Dawson & Marsh Holdings Ltd - Designated member

Greystone Developments UK Ltd - Designated member

1.	STATUTORY INFORMATION

Neon Homes LLP is registered in England and Wales. The LLP's registered number and registered office address can be found on the General Information page.

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

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.

Plant and machinery

-

20% on cost

Motor vehicles

-

20% on cost

Computer equipment

-

20% on cost

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

Investment property

Investment properties are revalued annually and any surplus or deficit is dealt with through profit and loss. No depreciation is provided in respect of investment properties.

Stocks

Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

Financial instruments

Basic financial instruments, including trade and other receivables and payables, cash and bank balances, bank loans and loans to or from other group companies are initially recognised at transaction price, 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. Such assets are subsequently carried at amortised cost using the effective interest method.

3.	EMPLOYEE INFORMATION

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

4.	TANGIBLE FIXED ASSETS

Plant and

Motor

Computer

machinery

vehicles

equipment

Totals

£

COST

At 1 January 2024

105,909

87,019

3,010

195,938

Disposals

(105,909

)

(87,019

)

(3,010

)

(195,938

)

At 31 December 2024

-

DEPRECIATION

At 1 January 2024

105,909

80,369

3,010

189,288

Eliminated on disposal

(105,909

)

(80,369

)

(3,010

)

(189,288

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

-

6,650

-

6,650

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertaking

£

COST

At 1 January 2024

100

Disposals

(100

)

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

100

6.	INVESTMENT PROPERTY

Total

£

COST OR VALUATION

At 1 January 2024

1,349,441

Disposals

(1,450,000

)

Fair value adjustments

100,559

At 31 December 2024

-

NET BOOK VALUE

At 31 December 2024

-

At 31 December 2023

1,349,441

Cost or valuation at 31 December 2024 is represented by:

£

7.

STOCKS

2024

2023

£

Work-in-progress

-

248,167

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Trade debtors

-

9,860

Amounts due from members

21,826

-

21,826

9,860

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2024

2023

£

Bank loans and overdrafts

-

45,334

Trade creditors

2,212

138

Amounts owed to associates

-

1,051

VAT

4,177

2,285

Rent deposit

12,167

Accrued expenses

3,800

38,337

22,356

99,312

10.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2024

2023

£

Bank loans - 1-5 years

-

641,333

11.

LOANS AND OTHER DEBTS DUE TO MEMBERS

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

12.

RESERVES

Fair

value

reserve

£

At 1 January 2024

182,858

Revaluation reserve

(182,858

)

At 31 December 2024

-