REGISTERED NUMBER: 07979656 (England and Wales)

ABRIDGED UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 MARCH 2025

FOR

NEO PROPERTIES LTD

Page

Company Information

1

Abridged Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

Mr Alexander Neocleous

Miss Angela Neocleous

REGISTERED OFFICE:

c/o Michael Filiou Ltd

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

REGISTERED NUMBER:

07979656 (England and Wales)

ACCOUNTANTS:

Michael Filiou Ltd

Chartered Certified Accountants

www.michaelfiliou.com

Salisbury House

81 High Street

Potters Bar

Hertfordshire

EN6 5AS

FIXED ASSETS

Investment property

5

2,849,701

2,590,387

CURRENT ASSETS

Debtors

1,180

1,880

Cash at bank and in hand

29,677

30,528

30,857

32,408

CREDITORS

Amounts falling due within one year

74,101

89,848

NET CURRENT LIABILITIES

(43,244

)

(57,440

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,806,457

2,532,947

CREDITORS

Amounts falling due after more than one year

6

(1,698,368

)

(1,738,655

)

PROVISIONS FOR LIABILITIES

8

(133,839

)

(70,048

)

NET ASSETS

974,250

724,244

CAPITAL AND RESERVES

Called up share capital

9

100

100

Fair value reserve

10

581,933

390,559

Retained earnings

10

392,217

333,585

SHAREHOLDERS' FUNDS

974,250

724,244

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 March 2025.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 March 2025 in accordance with Section 476 of the Companies Act 2006.

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 have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 31 March 2025 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 December 2025 and were signed on its behalf by:

Mr Alexander Neocleous - Director

Miss Angela Neocleous - Director

1.	STATUTORY INFORMATION

Neo Properties Ltd is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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 Companies Act 2006.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Turnover

Turnover represents rent receivable.

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.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 3 ) .

5.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 April 2024

2,590,387

Additions

4,148

Revaluations

255,166

At 31 March 2025

2,849,701

NET BOOK VALUE

At 31 March 2025

2,849,701

At 31 March 2024

2,590,387

Fair value at 31 March 2025 is represented by:

£

Valuation in 2015

156,611

Valuation in 2020

303,996

Valuation in 2022

255,166

Cost

2,133,928

2,849,701

The investment properties have been included at the directors' valuation of £2,849,701. The directors are of the opinion that this valuation remains appropriate as at the reporting date.

6.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN FIVE YEARS

2025

2024

£

£

Repayable by instalments

Bank loans more than 5 years

782,744

787,060

7.

LOANS

An analysis of the maturity of loans is given below:

2025

2024

£

£

Amounts falling due within one year or on demand:

Bank loans

8,997

23,812

Amounts falling due between one and two years:

Bank loans - 1-2 years

3,120

10,309

2025

2024

£

£

Amounts falling due between two and five years:

Bank loans - 2-5 years

9,361

8,643

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more than 5 years

782,744

787,060

8.	PROVISIONS FOR LIABILITIES

2025

2024

£

£

Deferred tax

133,839

70,048

Deferred

tax

£

Balance at 1 April 2024

70,048

Provided during year

63,791

Balance at 31 March 2025

133,839

9.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2025

2024

value:

£

£

100

Ordinary

£1

100

100

10.

RESERVES

Fair

Retained

value

earnings

reserve

Totals

£

£

£

At 1 April 2024

333,585

390,559

724,144

Profit for the year

250,007

250,007

Revaluation reserve

(255,166

)

255,165

(1

)

Deferred tax on revaluation

63,791

(63,791

)

-

At 31 March 2025

392,217

581,933

974,150

11.	RELATED PARTY DISCLOSURES

Denbourne Investments Limited

As at the year end, the company owed a loan amount to Denbourne Investments Limited of £903,142 (2024 - £932,643). The loan is interest free. Denbourne Investments Limited has common shareholders with Neo Properties Ltd.

12.	ULTIMATE CONTROLLING PARTY

There is no one single ultimate controlling party.