Neon One Limited - Accounts to registrar (filleted)

REGISTERED NUMBER: 05199774

Neon One Limited

Unaudited Financial Statements For The Year Ended 31 December 2025

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N D Hutchinson

REGISTERED OFFICE:

7 Savoy Court

London

WC2R 0EX

REGISTERED NUMBER:

05199774

FIXED ASSETS

Intangible assets

5

278,608

Property, plant and equipment

6

271

1,002

Investments

7

441,603

4,117,335

720,482

4,396,945

CURRENT ASSETS

Debtors

8

1,196,741

2,244,939

Cash at bank and in hand

379,079

20,709

1,575,820

2,265,648

CREDITORS

Amounts falling due within one year

9

(51,240

)

(4,130,197

)

NET CURRENT ASSETS/(LIABILITIES)

1,524,580

(1,864,549

)

TOTAL ASSETS LESS CURRENT
LIABILITIES

2,245,062

2,532,396

CAPITAL AND RESERVES

Called up share capital

9,731

Share premium

1,360,809

Retained earnings

874,522

1,161,856

2,245,062

2,532,396

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

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

The director acknowledges his 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.

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

The financial statements were approved by the director and authorised for issue on 22 September 2026 and were signed by:

N D Hutchinson - Director

1.	STATUTORY INFORMATION

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 7 Savoy Court, London, England, WC2R 0EX.

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.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party transactions with wholly owned subsidiaries within the group.

Investments in subsidiaries and other investments

Investments in subsidiaries are included at cost less provision for impairment. Profits and losses

arising from disposals of fixed asset investments are treated as part of the result from ordinary activities. The carrying amounts are reviewed annually for indicators of impairment.

Listed investments are held at the publicly listed share price of the investment held.

Other investments are included at cost less provision for impairment, and are reviewed annually for indicators of impairment.

Turnover

Revenue is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost less any accumulated amortisation and any accumulated impairment losses.Any intangible assets carried at revalued amounts, are recorded at the fair value at the date of revaluation, as determined by reference to an active market, less any subsequent accumulated amortisation and subsequent accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Equipment, fixtures and fittings - 20% per annum straight line

Financial instruments

A financial asset or a financial liability is recognised only when the entity becomes a party to the contractual provisions of the instrument.

Basic financial instruments are initially recognised at the transaction price, unless the arrangement constitutes a financing transaction, where it is recognised at the present value of the future payments discounted at a market rate of interest for a similar debt instrument.

Debt instruments are subsequently measured at amortised cost. Other financial instruments are subsequently measured at fair value, with any changes recognised in profit or loss.

Financial assets that are measured at cost or amortised cost are reviewed for objective evidence

of impairment at the end of each reporting date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss immediately.

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.

Pension costs and other post-retirement benefits

The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Going concern

As at 31 December 2025, the company had net current assets of £1,524,580 (2024: net current liabilities of £1,864,549). The company is dependent on the continued support of its immediate parent, Neon Group Holdings Limited. The ultimate controlling party of Neon Group Holdings Limited has confirmed he will continue to support the funding needs of the company therefore the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Accordingly, they continue to adopt the going concern basis in preparing the report and financial statements.

Revenue recognition

Revenue includes revenue from licences to occupy the office space held under a lease agreement by the company and is recognised on an accruals basis, in line with the terms of the contracts with licensees.

Revenue also includes charges relating to staff costs for financial, administrative and management services provided to related entities.

All turnover is stated exclusive of VAT and sales discounts.

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for

possible reversal at each reporting date.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2024 - 5 ) .

5.	INTANGIBLE FIXED ASSETS

Other

intangible

assets

£

COST

At 1 January 2025

and 31 December 2025

337,929

AMORTISATION

At 1 January 2025

and 31 December 2025

59,321

NET BOOK VALUE

At 31 December 2025

278,608

At 31 December 2024

278,608

6.	PROPERTY, PLANT AND EQUIPMENT

Plant and

machinery

etc

£

COST

At 1 January 2025

and 31 December 2025

15,509

DEPRECIATION

At 1 January 2025

14,507

Charge for year

731

At 31 December 2025

15,238

NET BOOK VALUE

At 31 December 2025

271

At 31 December 2024

1,002

7.	FIXED ASSET INVESTMENTS

Listed

Unlisted

investments

Totals

£

COST OR VALUATION

At 1 January 2025

2,352,099

1,765,236

4,117,335

Additions

-

157,172

Disposals

(2,352,099

)

(1,463,466

)

(3,815,565

)

Revaluations

-

(17,339

)

(17,339

)

At 31 December 2025

-

441,603

NET BOOK VALUE

At 31 December 2025

-

441,603

At 31 December 2024

2,352,099

1,765,236

4,117,335

Cost or valuation at 31 December 2025 is represented by:

Unlisted

investments

£

Valuation in 2025

(17,339

)

Cost

458,942

441,603

8.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade debtors

-

136,654

Other debtors

1,196,741

2,108,285

1,196,741

2,244,939

9.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2025

2024

£

Trade creditors

17,849

3,563

Taxation and social security

19,739

18,652

Other creditors

13,652

4,107,982

51,240

4,130,197

10.	FINANCIAL INSTRUMENTS

The following financial instruments are included at fair value:

2025

2024

Listed investment

-

2,352,099

-

2,352,099

11.	DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

As at year end, a balance of £421 was owed to directors (2024: £4,093,526), movement of £4,093,105 (2024: £12k) the movement related to advances net of expenses.

12.	RELATED PARTY TRANSACTIONS

At 31 December 2025, a net balance of £1,121k (2024: £2,071k) was recognised as due from Neon Property Holdings Limited, a company under common control, due to repayments of £1,017k and a decrease to the provision of £67.5k (2024: increase of £1,207k) being charged to the profit and loss in the year.

During the year, the existing loans to Rare Television Limited, a company under common control, were consolidated into a new secured term loan facility of £5.025 million. The facility is interest-free, other than default interest, and is repayable by September 2028. A full provision of £5.025 million has been recognised against the loan, resulting in a net balance of £nil at 31 December 2025 (2024: £nil).

In the year to 31 December 2025, recharges of £22k (2024: 52k) were made to Neon Property Morocco SARL, a company under common control. The balance due at year end was £13k (2024: £4k).

13.	ULTIMATE CONTROLLING PARTY

The company is fully and directly owned by Neon Group Holdings Limited.

The ultimate controlling party is N D Hutchinson, a director and the beneficial owner of the majority of the shares in Neon Group Holdings Limited.