| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 26 DECEMBER 2024 |
| FOR |
| NEAP DEVELOPMENTS LIMITED |
| REGISTERED NUMBER: |
| UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 26 DECEMBER 2024 |
| FOR |
| NEAP DEVELOPMENTS LIMITED |
| NEAP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11107450) |
| CONTENTS OF THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 26 DECEMBER 2024 |
| Page |
| Company Information | 1 |
| Balance Sheet | 2 |
| Notes to the Financial Statements | 3 |
| NEAP DEVELOPMENTS LIMITED |
| COMPANY INFORMATION |
| FOR THE YEAR ENDED 26 DECEMBER 2024 |
| DIRECTORS: |
| REGISTERED OFFICE: |
| REGISTERED NUMBER: |
| ACCOUNTANTS: | (Bexhill) Limited |
| 15 West Street |
| Brighton |
| East Sussex |
| BN1 2RL |
| NEAP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11107450) |
| BALANCE SHEET |
| 26 DECEMBER 2024 |
| 2024 | 2023 |
| Notes | £ | £ | £ | £ |
| FIXED ASSETS |
| Tangible assets | 3 |
| Investment property | 4 |
| CURRENT ASSETS |
| Debtors | 5 |
| Cash at bank |
| CREDITORS |
| Amounts falling due within one year | 6 |
| NET CURRENT LIABILITIES | ( |
) | ( |
) |
| TOTAL ASSETS LESS CURRENT LIABILITIES |
| CREDITORS |
| Amounts falling due after more than one year | 7 |
| NET ASSETS |
| CAPITAL AND RESERVES |
| Called up share capital |
| Revaluation reserve | 9 |
| Retained earnings |
| 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. |
| The financial statements were approved by the Board of Directors and authorised for issue on |
| NEAP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11107450) |
| NOTES TO THE FINANCIAL STATEMENTS |
| FOR THE YEAR ENDED 26 DECEMBER 2024 |
| 1. | ACCOUNTING POLICIES |
| Basis of preparing the financial statements |
| Tangible fixed assets |
| Fixtures and fittings | - |
| Computer equipment | - |
| 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 balance sheet date. |
| Deferred tax |
| Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet 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. |
| 2. | EMPLOYEES |
| The average number of employees during the year was |
| 3. | TANGIBLE FIXED ASSETS |
| Fixtures |
| and | Computer |
| fittings | equipment | Totals |
| £ | £ | £ |
| COST |
| At 27 December 2023 |
| Additions |
| At 26 December 2024 |
| DEPRECIATION |
| At 27 December 2023 |
| Charge for year |
| At 26 December 2024 |
| NET BOOK VALUE |
| At 26 December 2024 |
| At 26 December 2023 |
| NEAP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11107450) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 26 DECEMBER 2024 |
| 4. | INVESTMENT PROPERTY |
| Total |
| £ |
| FAIR VALUE |
| At 27 December 2023 |
| and 26 December 2024 |
| NET BOOK VALUE |
| At 26 December 2024 |
| At 26 December 2023 |
| Fair value at 26 December 2024 is represented by: |
| £ |
| Valuation in 2019 | 969,531 |
| Valuation in 2021 | 80,469 |
| Valuation in 2022 | (475,000 | ) |
| 575,000 |
| 5. | DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Trade debtors |
| Amounts owed by associates |
| 6. | CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Other loans |
| Trade creditors |
| Tax |
| Directors' loan accounts | 142,184 | 123,433 |
| Accrued expenses |
| 7. | CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR |
| 2024 | 2023 |
| £ | £ |
| Mortgage |
| Amounts falling due in more than five years: |
| Repayable by instalments |
| Mortgage | 437,719 | 437,719 |
| 8. | SECURED DEBTS |
| The following secured debts are included within creditors: |
| 2024 | 2023 |
| £ | £ |
| Bridging Loan | 87,674 | - |
| The property 22B Campbell road, Brighton contains negative pledge. |
| NEAP DEVELOPMENTS LIMITED (REGISTERED NUMBER: 11107450) |
| NOTES TO THE FINANCIAL STATEMENTS - continued |
| FOR THE YEAR ENDED 26 DECEMBER 2024 |
| 9. | RESERVES |
| Revaluation |
| reserve |
| £ |
| At 27 December 2023 |
| and 26 December 2024 |
| 10. | ULTIMATE CONTROLLING PARTY |
| The ultimate controlling party is |
| This was by virtue of their 100% holding of the issued share capital. |