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Registered number:
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NEOS HOLDCO LTD
COMPANY INFORMATION
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NEOS HOLDCO LTD
CONTENTS
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NEOS HOLDCO LTD
STRATEGIC REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present their Strategic Report and audited financial statements for NEOS Holdco Ltd (the 'Company') for the period ended 31 December 2024.
The financial statements cover the results of the Company for the 12 month period from the Company's incorporation of 17 January 2024 to 31 December 2024.
The principal activity of the Company during the period was that of a holding company.
These financial statements cover the financial performance of the business for the 11 months from date of incorporation, 17 January 2024 to 31 December 2024.
On 1 February 2024, the Company became part of the NEOS Topco Ltd (formerly CC Storm UK TopCo Limited) group of companies entering into administration. The Company is a holding company for a group of trading entities and its financials are limited entirely to management fee income and costs associated with the group’s headquarters and central administration costs. The profit and loss account for the year is set out on page 10 of the financial statements. Turnover for the 11 months to 31 December 2024 was £0.9m and the Company made pre-tax losses of £5.8m. At the reporting date, the Company had net liabilities of £5.8m.
The management team’s Key Performance Indicators ('KPIs') for the period are as follows:
Period ending 31 December 2024 Revenue £0.9m Gross profit £0.9m Net loss (£5.8m)
The directors were satisfied with revenue generated by the Company in 2024.
The management of the business and the execution of the Company strategy are subject to the number of key risks, typically relating to the economic environment, regulatory and licensing risk, staff recruitment and retention, competition and upwards cost pressures
Mitigation measures include ongoing cost reviews, supplier renegotiations, energy management initiatives, and continuous staff training and engagement.
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NEOS HOLDCO LTD
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Customer behaviour and demand
The hospitality industry is fundamentally experiential and is constantly evolving. As such, the Company needs to be able to adapt to the changes in the market and what people demand. Additionally, spending in this sector can be one of the first areas to experience the pinch of any economic downturn. Due to this there is a risk that changes in customer behaviour and spending patterns change and impact revenue. To address this, the Company invests heavily in its venues, brands and engagement with guests, as well as training staff in venues to give our guests an exceptional experience. Competition The industry can be highly competitive and a new venue opening nearby to one of our venues can pose a threat to revenue and profitability, at least in the short term. Competition can vary in terms of quality or price, and both can have an impact on guest demographic. The Company constantly monitors local competitor activity in order to respond to threats. Licensing & crime Licensing requirements means that maintaining strong relationships with both local authorities and the police is essential. The Company’s experienced team work hard to build these close working relationships and they are supported by an experienced head office team, as well as specialist external licensing solicitors. NEOS carries out regular operational compliance and health and safety audits of all sites and ensures that sufficient safety procedures are in place in all of our venues. Health and safety NEOS is committed to creating a safe, environmentally friendly organisation, fostering a culture where everyone takes responsibility for their own safety and the safety of others. Our leaders understand the risks within their operational areas and continually aspire to minimise those risks. We continue to embed a culture of health and safety into the DNA of our business. Financial risk management The Company’s operations expose it to a variety of financial risks that include the effect of changes in market prices, credit risk, liquidity risk and interest rate cash flow risk. NEOS has risk management strategies in place that seek to limit the adverse effects of debt finance and the related finance costs on the performance of the Company. Given the size of NEOS, the directors have not delegated the responsibility of monitoring financial risk management to a sub-committee of the board. The policy set by the board is implemented by the Company’s finance department.
Following the restructuring that took place within the NEOS group during the period, the directors believe that the venues now operating within the Company will result in a positive EBTIDA contribution.
The directors continuously monitor the performance of the Company and carry out regular strategic reviews of all venues. The directors believe that they are well placed to take advantage of any growth opportunities that may arise.
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NEOS HOLDCO LTD
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
Under section 172 of the Companies Act a director of a company must act in the way they consider, in good faith, would be most likely to promote the success of the Company for the benefit of its members as a whole, and in doing so have regard (amongst other matters) to:
∙The likely consequences of any decision in the long term.
∙The interests of the Company's employees.
∙The need to foster the Company's business relationships with suppliers, customers and others.
∙The impact of the Company's operations on the community and the environment.
∙The desirability of the Company maintaining a reputation for high standards of business conduct, and;
∙The need to act fairly as between members of the Company.
Our section 172 statement sets out the key stakeholder groups, their interests and how the Company engages with them.
Engagement with employees
Our people are central to the success of our business, and each employee plays a significant role in ensuring the delivery of our growth and transformation projects. The directors are extremely mindful of the importance of employee engagement. The Company uses social media sites and regular team meetings to keep employees informed about developments that are relevant to them and to gather their thoughts and feedback. Regular social events and incentives are encouraged to foster strong working relationships and teambuilding. The health and wellbeing of our staff remains a top priority and we provide all employees with mental health support via our employee assistance programme and financial assistance through our payday support programme. Disabled employees It is the Company’s policy to encourage and offer equal consideration to disabled persons making application for employment within the Company, having regard to their aptitudes and abilities. The nature of the business and prevailing working conditions limit the employment of personnel with certain disabilities defined by health and safety regulations. Diversity and inclusion NEOS is an equal opportunities employer committed to providing equal employment opportunities to all employees and prohibiting all forms of discrimination. Sustainability The directors are committed to ensuring the health, safety and wellbeing of the Company’s employees and to conducting its business in a way that creates social, environmental and economic value to all of its stakeholders. The directors have taken steps to ensure that the Company’s statutory duties are met at all times and have identified a number of key metrics such as reportable accidents, lost time injury frequency and severity rate and appropriate targets to improve such measures.
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NEOS HOLDCO LTD
STRATEGIC REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
This report was approved by the board and signed on its behalf.
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NEOS HOLDCO LTD
DIRECTORS' REPORT
FOR THE PERIOD ENDED 31 DECEMBER 2024
The directors present their report and the financial statements for the period ended 31 December 2024.
The loss for the period, after taxation, amounted to £5,028,752.
No dividends were paid in the period. The directors do not recommend the payment of any final dividends.
The directors who served during the period were:
The directors are responsible for preparing the Strategic Report, the Directors' Report and the financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the Company's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the Company will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the Company's transactions and disclose with reasonable accuracy at any time the financial position of the Company and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
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NEOS HOLDCO LTD
DIRECTORS' REPORT (CONTINUED)
FOR THE PERIOD ENDED 31 DECEMBER 2024
As the Company has not consumed more than 40,000 kWh of energy in the reporting period, it qualifies as a low energy user under these regulations and is not required to report on its emissions, energy consumption or energy efficiency activities.
Energy and carbon reporting requirements for the Company's wider group as a whole have been covered in the consolidated financial statements of this Company's immediate parent, NEOS Topco Ltd.
The Company has chosen to set out information required to be contained in the Directors' Report by large-sized Companies (Accounts and Reports) Regulations 2008, Sch. 7 in the Strategic Report, in accordance with Companies Act 2006, s. 414C(11). It has done so with respect to a business review, future outlook and engagement with stakeholders.
HaysMac LLP were appointed as auditor to the Company in the period and in accordance with section 485 of the Companies Act 2006, a resolution proposing that they be re-appointed will be put at a General Meeting.
This report was approved by the board and signed on its behalf.
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NEOS HOLDCO LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NEOS HOLDCO LTD
We have audited the financial statements of NEOS Holdco Ltd (the 'Company') for the period ended 31 December 2024, which comprise the Statement of Comprehensive Income, the Statement of Financial Position, the Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
We conducted our audit in accordance with International Standards on Auditing (UK) (ISAs (UK)) and applicable law. Our responsibilities under those standards are further described in the Auditors' responsibilities for the audit of the financial statements section of our report. We are independent of the Company in accordance with the ethical requirements that are relevant to our audit of the financial statements in the United Kingdom, including the Financial Reporting Council's Ethical Standard and we have fulfilled our other ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the Company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
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NEOS HOLDCO LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NEOS HOLDCO LTD (CONTINUED)
The other information comprises the information included in the Annual Report other than the financial statements and our Auditors' Report thereon. The directors are responsible for the other information contained within the Annual Report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Strategic Report and the Directors' Report for the financial period for which the financial statements are prepared is consistent with the financial statements; and
∙the Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the Company and its environment obtained in the course of the audit, we have not identified material misstatements in the Strategic Report or the Directors' Report.
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NEOS HOLDCO LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NEOS HOLDCO LTD (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditors' Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Explanation as to what extent the audit was considered capable of detecting irregularities, including fraud Based on our understanding of the Company and industry, we identified that the principal risks of non-compliance with laws and regulations are compliance with the Companies Act 2006, health & safety laws, Food Standards Agency laws and alcohol licensing, and we considered the extent to which non-compliance might have a material effect on the financial statements. We also considered those laws and regulations that have a direct impact on the preparation of the financial statements such as the Companies Act 2006 and sales tax. We evaluated management’s incentives and opportunities for fraudulent manipulation of the financial statements (including the risk of override of controls), and determined that the principal risks were related to posting inappropriate journal entries to revenue and management bias in accounting estimates. Audit procedures performed by the engagement team included:
∙inspecting correspondence with regulators and tax authorities;
∙inquires with management including consideration of known or suspected instances of non-compliance with laws and regulations and fraud;
∙evaluating management’s controls designed to prevent and detect irregularities;
∙identifying and testing journals, in particular journal entries posted with unusual account combinations, postings with high value transactions or rounded entries; and
∙challenging assumptions and judgements made by management in their critical accounting estimates.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the Financial Reporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditors' Report.
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NEOS HOLDCO LTD
INDEPENDENT AUDITORS' REPORT TO THE MEMBERS OF NEOS HOLDCO LTD (CONTINUED)
This report is made solely to the Company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the Company's members those matters we are required to state to them in an Auditors' Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the Company and the Company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Statutory Auditors
10 Queen Street Place
EC4R 1AG
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NEOS HOLDCO LTD
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NEOS HOLDCO LTD
REGISTERED NUMBER: 15420951
STATEMENT OF FINANCIAL POSITION
AS AT 31 DECEMBER 2024
The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
The notes on pages 14 to 30 form part of these financial statements.
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NEOS HOLDCO LTD
STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
NEOS Holdco Ltd is a private company limited by shares and incorporated in England and Wales. The Company's registered number is 15420951 and registered office address is NEOS Hospitality Wharton Place, 13 Wharton Street, Cardiff, Wales, CF10 1GS.
The Company's principal activity is disclosed in the Strategic Report.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.
The financial statements are prepared in sterling, which is the functional currency of the entity and rounded to the nearest £.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires management to exercise judgement in applying the Company's accounting policies (see note 3).
The following principal accounting policies have been applied:
The Company has taken advantage of the following disclosure exemptions in preparing these financial statements, as permitted by the FRS 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland":
∙the requirements of Section 7 Statement of Cash Flows;
∙the requirements of Section 3 Financial Statement Presentation paragraph 3.17(d);
∙the requirements of Section 33 Related Party Disclosures paragraph 33.7.
This information is included in the consolidated financial statements of NEOS Topco Ltd as at 31 December 2024 and these financial statements may be obtained from NEOS Hospitality Wharton Place, 13 Wharton Street, Cardiff, Wales, CF10 1GS.
The Company is a parent company that is also a subsidiary included in the consolidated financial statements of a larger group by a parent undertaking established under the law of any part of the United Kingdom and is therefore exempt from the requirement to prepare consolidated financial statements under section 400 of the Companies Act 2006.
The financial statements cover the results of the Company for the 12 month period from the Company's incorporation of 17 January 2024 to 31 December 2024.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The financial statements have been prepared on the going concern basis, assuming the Company will continue to trade for the foreseeable future. Despite the Company reporting net liabilities at the year end, the directors have assessed the Company's ability to continue as a going concern and believe it remains appropriate. This assessment considers the availability of financial support which the Company continues to receive from the wider group headed by NEOS Topco Ltd, which has confirmed its commitment to provide necessary funding for at least the next 12 months from the reporting date.
Sale of goods and admission income are recognised when the significant risks and rewards of ownership of the goods or provision of services have passed to the buyer. Admissions income is derived from admissions, room hire, machine income and other direct income to third parties.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Goodwill
Other intangible assets
All intangible assets are considered to have a finite useful life. If a reliable estimate of the useful life cannot be made, the useful life shall not exceed ten years.
The estimated useful lives range as follows:
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, using the straight-line method.
Depreciation is provided on the following basis:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
At each reporting period end date, the Company reviews the carrying amounts of its tangible assets to determine whether there is any indication that those assets have suffered an impairment loss. If any such indication exists, the recoverable amount of the asset is estimated in order to determine the extent of the impairment loss (if any). Where it is not possible to estimate the recoverable amount of an individual asset, the Company estimates the recoverable amount of the cash-generating unit to which the asset belongs.
If an impairment loss subsequently reverses, the carrying amount of the asset is increased to the revised estimate of its recoverable amount, but not in excess of the amount that would have been determined had no impairment loss been recognised for the asset in prior years. A reversal of impairment is recognised immediately in profit or loss.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.
Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.
Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.
Basic financial assets
Basic financial assets, which include trade and other debtors, cash and bank balances, are initially measured at their transaction price (adjusted for transaction costs except in the initial measurement of financial assets that are subsequently measured at fair value through profit and loss) 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 debtors due with the operating cycle fall into this category of financial instruments.
Impairment of financial assets
At the end of each reporting period financial assets measured at amortised cost are assessed for objective evidence of impairment. If an asset is impaired the impairment loss is the difference between the carrying amount and the present value of the estimated cash flows discounted at the asset’s original effective interest rate. The impairment loss is recognised in profit or loss.
Financial assets are impaired when events, subsequent to their initial recognition, indicate the estimated future cash flows derived from the financial asset(s) have been adversely impacted. The impairment loss will be the difference between the current carrying amount and the present value of the future cash flows at the asset(s) original effective interest rate.
If there is a favourable change in relation to the events surrounding the impairment loss then the impairment can be reviewed for possible reversal. The reversal will not cause the current carrying amount to exceed the original carrying amount had the impairment not been recognised. The impairment reversal is recognised in the profit or loss.
Derecognition of financial assets
Financial assets are derecognised when their contractual right to future cash flow expire, or are settled, or when the Company transfers the asset and substantially all the risks and rewards of ownership to another party. If significant risks and rewards of ownership are retained after the transfer to another party, then the Company will continue to recognise the value of the portion of the risks and rewards retained.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
2.Accounting policies (continued)
Derecognition of financial liabilities
Financial liabilities are derecognised when the Company's contractual obligations expire or are discharged or cancelled.
The estimates and underlying assumptions are reviewed on a continuing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised if the revision affects only that period, or in the period of the revision and future periods if the revision affects both current and future periods. The directors consider the following to be sources of significant judgements or estimates in the preparation of these financial statements: Exceptional expenditure classification The Company exercised judgement in determining whether certain items of income or expense should be classified as exceptional. The classification is inherently subjective and may differ from practices adopted by other entities. Changes in circumstances or management's assessment could result in different classification in future periods. Goodwill arising on acquisition The acquisition by NEOS Holdco of the assets of STIM Holdco included the acquisition of shares of existing entities (NEOS 1, NEOS 2, NEOS 14, NEOS 15, NEOS 22, NEOS SPV 1 and NEOS SPV 2) resulting in goodwill arising. The identifiable assets and liabilities are recognised at their fair value at the date of acquisition. Determining the fair value of these assets and liabilities involved a degree of estimation. Impairment of fixed assets Intangible and tangible fixed assets are reviewed for impairment when there is an indication that the assets might be impaired by comparing the carrying value of the assets with their recoverable amounts. The recoverable amount of an asset of cash generating unit ('CGU') is determined on value inuse calculations prepared on the basis of the directors' estimates and assumptions. Individual sites are viewed as separate CGUs. In calculating the value in use, the present value of future cash flows until the end of the lease was considered along with any expected cashflows required to maintain the estate in its current condition. No uplift has been assumed from future refurbishments. The impairment testing assumes that each site achieves the budgeted financial performance for 2025 and continues to grow in line with expectation. The key risk is therefore that the budgeted performance is not achieved. The NEOS group's weighted average cost of capital ('WACC') is used as a discount rate in the value in use calculations and is therefore considered to be a key assumption. As at 31 December 2024, the discount rate used was 10%.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
3.Judgements in applying accounting policies (continued)
The amortisation and depreciation charges are dependent upon the assumptions used regarding the useful economic lives of assets, so therefore this is also considered to be an area of significant judgement.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 23
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
12.Taxation (continued)
There were no factors that may affect future tax charges.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 25
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 26
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Page 27
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
Upon the Company's incorporation on 17 January 2024, 1 Ordinary share was issued with a nominal value of £1.
Profit and loss account
The Company operates a defined contributions pension scheme. The assets of the scheme are held separately from those of the company in an independently administered fund. The pension cost charge represents contributions payable by the company to the fund and amounted to £95,206. Contributions totaling £13,243 were payable to the fund at the reporting date and are included in creditors.
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NEOS HOLDCO LTD
NOTES TO THE FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 31 DECEMBER 2024
The smallest and largest group in which the results of the Company are consolidated is that headed by NEOS Topco Ltd, the Company's immediate parent undertaking. NEOS Topco Ltd is incorporated in England and Wales with registered office address of NEOS Hospitality Wharton Place, 13 Wharton Street, Cardiff, Wales, CF10 1GS. The consolidated financial statements of NEOS Topco Ltd are available at Companies House.
Axiom Partners 15 Ltd, a company incorporated in Jersey, and the Company’s ultimate parent undertaking, is deemed to be the Company's ultimate controlling party.
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