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Registered number: 12733852 NEG 2 FURZEGROUND WAY LIMITED UNAUDITED FINANCIAL STATEMENTS INFORMATION FOR FILING WITH THE REGISTRAR FOR THE YEAR ENDED 30 JUNE 2025
NEG 2 FURZEGROUND WAY LIMITED
COMPANY INFORMATION
Directors | R B Michael
| I I Perl
Registered number | 12733852
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 2 FURZEGROUND WAY LIMITED
CONTENTS
| Page
Statement of Financial Position | 1 - 2
Notes to the Financial Statements | 3 - 6
NEG 2 FURZEGROUND WAY LIMITED REGISTERED NUMBER:12733852
STATEMENT OF FINANCIAL POSITION AS AT 30 JUNE 2025
| 2025 | 2024
Note | £ | £
Fixed assets |  |  |
Investment property | 4 | 14,830,000 | 14,830,000
Current assets |  |  |
Debtors: amounts falling due within one year | 5 | 130,213 | 401,089
Cash at bank and in hand |  | 432,209 | 304,122
|  | 562,422 | 705,211
Current liabilities |  |  |
Creditors: amounts falling due within one year | 6 | (13,374,056) | (13,480,633)
Net current liabilities |  | (12,811,634) | (12,775,422)
Total assets less current liabilities |  | 2,018,366 | 2,054,578
Provisions for liabilities |  |  |
Deferred tax |  | (469,669) | (469,669)
Net assets |  | 1,548,697 | 1,584,909
Capital and reserves |  |  |
Called up share capital |  | 120 | 120
Fair value reserve |  | (1,409,006) | (1,409,006)
Profit and loss account |  | 2,957,583 | 2,993,795
|  | 1,548,697 | 1,584,909
Page 1
NEG 2 FURZEGROUND WAY LIMITED REGISTERED NUMBER:12733852
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 on 30 June 2026.
R B Michael | I I Perl
Director | Director
The notes on pages 3 to 6 form part of these financial statements. Page 2
NEG 2 FURZEGROUND WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
1. | General information
NEG 2 Furzeground Way 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 | 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.
| 2.3 | 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.
| 2.4 | Borrowing costs
All borrowing costs are recognised in profit or loss in the year in which they are incurred. Page 3
NEG 2 FURZEGROUND WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.5 | Current and deferred taxation
The tax expense for the year comprises current and deferred tax. Tax is recognised in profit or loss except that a charge attributable to an item of income and expense recognised as other comprehensive income or to an item recognised directly in equity is also recognised in other comprehensive income or directly in equity respectively. The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the Company operates and generates income. Deferred tax balances are recognised in respect of all timing differences that have originated but not reversed by the reporting date, except that: ∙The recognition of deferred tax assets is limited to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits; and ∙Any deferred tax balances are reversed if and when all conditions for retaining associated tax allowances have been met. Deferred tax balances are not recognised in respect of permanent differences except in respect of business combinations, when deferred tax is recognised on the differences between the fair values of assets acquired and the future tax deductions available for them and the differences between the fair values of liabilities acquired and the amount that will be assessed for tax. Deferred tax is determined using tax rates and laws that have been enacted or substantively enacted by the reporting date.
| 2.6 | Exceptional items
Exceptional items are transactions that fall within the ordinary activities of the Company but are presented separately due to their size or incidence.
| 2.7 | 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.
| 2.8 | 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.
| 2.9 | 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. Page 4
NEG 2 FURZEGROUND WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025 2.Accounting policies (continued)
| 2.10 | 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.
| 2.11 | 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).
4. | Investment property
|  | Freehold investment property
|  | £
| Valuation |
| At 1 July 2024 | 14,830,000
| At 30 June 2025 | 14,830,000
The investment property was valued at 30 June 2025 by the directors with no change in the fair value being required.
5. | Debtors
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Other debtors | 130,213 | 385,642
| Prepayments and accrued income | - | 15,447
|  | 130,213 | 401,089
Page 5
NEG 2 FURZEGROUND WAY LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2025
6. | Creditors: Amounts falling due within one year
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,390,000 | 6,140,000
| Other loans | 6,599,975 | 6,101,176
| Trade creditors | 37,493 | 11,280
| Corporation tax | 119,806 | 116,948
| Other taxation and social security | 115,500 | 143,745
| Other creditors | 1,111,282 | 628,321
| Accruals and deferred income | - | 339,163
|  | 13,374,056 | 13,480,633
| The following liabilities were secured:
|  |  |  |  | 2025 | 2024
|  |  |  |  | £ | £
| Bank loans | 5,390,000 | 6,140,000
| Other loans | 6,599,975 | 6,101,176
|  | 11,989,975 | 12,241,176
| Details of security provided:
Bank loans are secured by way of a fixed and floating charge dated 5 January 2021. Other loans are secured by way of a fixed and floating charge dated 30 December 2020.
7. | Related party transactions
| Included within other debtors is £13,350 (2024 – £Nil) owed to a company with common director and ownership. This amount is interest free and repayable on demand. Included within other creditors is £1,111,282 (2024 – £628,231) owed to one of the directors. This amount is interest free and repayable on demand.
Page 6