Neptune Homes Limited - Filleted accounts

Registered number

11803099

Neptune Homes Limited

Filleted Accounts

28 February 2026

Neptune Homes Limited
Registered number:		11803099
Balance Sheet
as at 28 February 2026

Notes			2026			2025
£				£
Fixed assets
Tangible assets	3		1,050,814			1,051,221

Current assets
Debtors	4	652			85
Cash at bank and in hand		12,670			2,838
		13,322			2,923

Creditors: amounts falling due within one year	5	(349,504)			(329,087)

Net current liabilities			(336,182)			(326,164)

Total assets less current liabilities			714,632			725,057

Creditors: amounts falling due after more than one year	6		(711,083)			(711,269)

Provisions for liabilities			-			(1,397)


Net assets			3,549			12,391

Capital and reserves
Called up share capital			3			3
Profit and loss account			3,546			12,388

Shareholders' funds			3,549			12,391

The directors are satisfied that the company is entitled to exemption from the requirement to obtain an audit under section 477 of the Companies Act 2006.
The members have not required the company to obtain an audit in accordance with section 476 of the Act.
The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of accounts.
The accounts have been prepared and delivered in accordance with the special provisions applicable to companies subject to the small companies regime. The profit and loss account has not been delivered to the Registrar of Companies.




Sheila Brown
Director
Approved by the board on 28 May 2026

Neptune Homes Limited
Notes to the Accounts
for the year ended 28 February 2026


1	Accounting policies

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, The Financial Reporting Standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Turnover
	Turnover is measured at the fair value of the consideration received or receivable, net of discounts and value added taxes. Turnover includes revenue earned from the sale of goods and from the rendering of services. Turnover from the sale of goods is recognised when the significant risks and rewards of ownership of the goods have transferred to the buyer. Turnover from the rendering of services is recognised by reference to the stage of completion of the contract. The stage of completion of a contract is measured by comparing the costs incurred for work performed to date to the total estimated contract costs.

	Tangible fixed assets
	Tangible fixed assets are measured at cost less accumulative depreciation and any accumulative impairment losses. Depreciation is provided on all tangible fixed assets, other than freehold land, at rates calculated to write off the cost, less estimated residual value, of each asset evenly over its expected useful life, as follows:

	Freehold buildings	over 50 years
	Plant and machinery	25% reducing balance 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.

	Debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Taxation
	A current tax liability is recognised for the tax payable on the taxable profit of the current and past periods. A current tax asset is recognised in respect of a tax loss that can be carried back to recover tax paid in a previous period. Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. 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. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Provisions
	Provisions (ie liabilities of uncertain timing or amount) are recognised when there is an obligation at the reporting date as a result of a past event, it is probable that economic benefit will be transferred to settle the obligation and the amount of the obligation can be estimated reliably.


2	Employees			2026		2025
Number					Number

	Average number of persons employed by the company			3		3


3	Tangible fixed assets
		Land and buildings		Plant and machinery etc		Total
£			£		£
	Cost
	At 1 March 2025	1,050,000		6,488		1,056,488
	At 28 February 2026	1,050,000		6,488		1,056,488

	Depreciation
	At 1 March 2025	-		5,267		5,267
	Charge for the year	-		407		407
	At 28 February 2026	-		5,674		5,674

	Net book value
	At 28 February 2026	1,050,000		814		1,050,814
	At 28 February 2025	1,050,000		1,221		1,051,221


	Freehold land and buildings:			2026		2025
£					£
	Historical cost			935,916		935,916
	Cumulative depreciation based on historical cost			-		-
				935,916		935,916
	The buildings are re-valued by the Directors on an annual basis taking into consideration advice provided by estate agents.


4	Debtors			2026		2025
£					£

	Deferred tax asset			582		-
	Other debtors			70		85
				652		85


5	Creditors: amounts falling due within one year			2026		2025
£					£

	Bank loans and overdrafts			5,771		12,472
	Trade creditors			690		-
	Other creditors			343,043		316,615
				349,504		329,087


6	Creditors: amounts falling due after one year			2026		2025
£					£

	Bank loans			711,083		711,269


7	Loans			2026		2025
£					£
	Creditors include:
	Amounts payable otherwise than by instalment falling due for payment after more than five years			689,443		689,443

	The mortgage will be repaid out of the future sale proceeds of the properties.

	Secured bank loans			689,443		689,443

	The interest-only mortgage is secured against properties owned by the company.


8	Controlling party

	Mr. M. Manston transferred his 1 Ordinary share to the other 2 shareholders on 25 July 2025. Mr. F. de Kock and Mrs. S. Brown jointly had control of the entire share capital of the company from that date


9	Other information

	Neptune Homes Limited is a private company limited by shares and incorporated in England. Its registered office is:
	Unit F3, Mill House Business Centre
	Mill Road
	Southampton
	Hampshire
	SO40 3AE