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Registered number: 13399050 NEG ERITH SHOPPING CENTER LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025
NEG ERITH SHOPPING CENTER LIMITED
COMPANY INFORMATION
Directors | R B Michael
| U Segal
| E Yelizarov
Registered number | 13399050
Registered office | 13-14 Welbeck Street
| London
| United Kingdom
| W1G 9XU
Accountants | Sopher + Co LLP
| Chartered Accountants
| 5 Elstree Gate
| Elstree Way
| Borehamwood
| Hertfordshire
| WD6 1JD
NEG ERITH SHOPPING CENTER LIMITED
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 6
NEG ERITH SHOPPING CENTER LIMITED REGISTERED NUMBER:13399050
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
|  | 2025 |  | 2024
Note |  | £ |  | £
Fixed assets |  |  |  |  |
Investment property | 4 |  | 15,127,137 |  | 14,596,553
|  |  | 15,127,137 |  | 14,596,553
Current assets |  |  |  |  |
Debtors: amounts falling due within one year | 5 | 362,894 |  | 287,040 |
Cash at bank and in hand |  | 244,133 |  | 373,707 |
|  | 607,027 |  | 660,747 |
Current liabilities |  |  |  |  |
Creditors: amounts falling due within one year | 6 | (16,325,755) |  | (7,777,047) |
Net current liabilities |  |  | (15,718,728) |  | (7,116,300)
Total assets less current liabilities |  |  | (591,591) |  | 7,480,253
Creditors: amounts falling due after more than one year | 7 |  | - |  | (7,691,617)
Net liabilities |  |  | (591,591) |  | (211,364)
Capital and reserves |  |  |  |  |
Called up share capital |  |  | 120 |  | 120
Profit and loss account |  |  | (591,711) |  | (211,484)
|  |  | (591,591) |  | (211,364)
Page 1
NEG ERITH SHOPPING CENTER LIMITED REGISTERED NUMBER:13399050
STATEMENT OF FINANCIAL POSITION (CONTINUED) AS AT 30 JUNE 2025 The directors consider that the Company is entitled to exemption from audit under section 477 of the Companies Act 2006 and members have not required the Company to obtain an audit for the year in question in accordance with section 476 of the Companies Act 2006. The directors acknowledge their responsibilities for complying with the requirements of the Companies Act 2006 with respect to accounting records and the preparation of financial statements. The financial statements have been prepared in accordance with the provisions applicable to companies subject to the small companies regime and in accordance with the provisions of FRS 102 Section 1A - small entities. The financial statements have been delivered in accordance with the provisions applicable to companies subject to the small companies regime. The Company has opted not to file the statement of comprehensive income in accordance with provisions applicable to companies subject to the small companies' regime. The financial statements were approved and authorised for issue by the board and were signed on its behalf by:
R B Michael
Director
Date: 30 June 2026
The notes on pages 3 to 6 form part of these financial statements. Page 2
NEG ERITH SHOPPING CENTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
NEG Erith Shopping Center Limited is a private company limited by shares incorporated in England and Wales. The registered office is 13-14 Welbeck Street, London, United Kingdom, W1G 9XU. The principal activity of the Company continued to be that of the letting and operating of owned or leased real estate. The Company's functional and presentational currency is £ Sterling. 2.Accounting policies
| 2.1 | Basis of preparation of financial statements
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with FRS 102 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland' and the requirements of the Companies Act 2006. The disclosure requirements of Section 1A of FRS 102 have been applied other than where additional disclosure is required to show a true and fair view. The following principal accounting policies have been applied:
| 2.2 | Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company will have the continued support from its lenders and has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.
| 2.3 | Turnover
Turnover represents rental income received from the Company's investment property net of value added tax. Rental income is recognised on a calendar basis.
| 2.4 | Finance costs
Finance costs are charged to profit or loss over the term of the debt using the effective interest method so that the amount charged is at a constant rate on the carrying amount. Issue costs are initially recognised as a reduction in the proceeds of the associated capital instrument.
| 2.5 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred.
| 2.6 | Investment property
Investment property is carried at fair value determined annually by external valuers and derived from the current market rents and investment property yields for comparable real estate, adjusted if necessary for any difference in the nature, location or condition of the specific asset. No depreciation is provided. Changes in fair value are recognised in profit or loss. Page 3
NEG ERITH SHOPPING CENTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.7 | Debtors
Short-term debtors are measured at transaction price, less any impairment. Loans receivable are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method, less any impairment.
| 2.8 | Cash and cash equivalents
Cash is represented by cash in hand and deposits with financial institutions repayable without penalty on notice of not more than 24 hours. Cash equivalents are highly liquid investments that mature in no more than three months from the date of acquisition and that are readily convertible to known amounts of cash with insignificant risk of change in value.
| 2.9 | Creditors
Short-term creditors are measured at the transaction price. Other financial liabilities, including bank loans, are measured initially at fair value, net of transaction costs, and are measured subsequently at amortised cost using the effective interest method.
| 2.10 | Financial instruments
The Company enters into basic financial instrument transactions. Basic financial instruments, including trade debtors, trade creditors, cash and loans to related parties, are accounted for in accordance with FRS 102 Section 11.
3. | Employees
| The average monthly number of employees, including directors, during the year was 3 (2024 - 3).
Page 4
NEG ERITH SHOPPING CENTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
4. | Investment property
|  | Long term leasehold investment property
|  | £
| Valuation |
| At 1 July 2024 | 14,596,553
| Additions at cost | 530,584
| At 30 June 2025 | 15,127,137
The investment property was valued at 30 June 2025 by the directors on a fair value basis.
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Trade debtors | 300,387 | 244,048
| Other debtors | 37,842 | 120
| Prepayments and accrued income | 24,665 | 42,872
|  | 362,894 | 287,040
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 6,630,384 | 312,000
| Other loans | 7,085,308 | 5,780,341
| Trade creditors | 866,621 | 821,481
| Corporation tax | - | 88,161
| Other taxation and social security | 97,372 | 202,314
| Other creditors | 1,043,330 | 141,997
| Accruals and deferred income | 602,740 | 430,753
|  | 16,325,755 | 7,777,047
Page 5
NEG ERITH SHOPPING CENTER LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
7. | Creditors: Amounts falling due after more than one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | - | 7,691,617
|  | - | 7,691,617
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 6,630,384 | 8,003,617
|  | 6,630,384 | 8,003,617
| Details of security provided:
Bank loans are secured by way of a floating and fixed charge dated 3 November 2021.
8. | Related party transactions
| Included within other loans is £7,085,308 (2024 – £5,780,341) owed to one of the shareholders. Interest was charged on this loan at 2% per annum. Included within other creditors is £426,000 (2024 – £Nil) owed to one of the shareholders. This amount is interest free and repayable on demand. Included within other creditors are amounts totalling £486,282 (2024 – £50,000) owed to the directors. These amounts are interest free and repayable on demand.
Page 6