ACCOUNTS - Final Accounts preparation

Registered number: 14267541

NEOS 17 LTD

UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 DECEMBER 2025

NEOS 17 LTD

REGISTERED NUMBER: 14267541

STATEMENT OF FINANCIAL POSITION

AS AT 31 DECEMBER 2025

		2025		2024
Note		£		£

Current assets
Debtors	4	1	1
Net assets		1	1

Capital and reserves
Called up share capital	1	1

For the year ended 31 December 2025 the Company was entitled to exemption from audit under section 480 of the Companies Act 2006.

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 income statement 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 Quelch

Director

Date: 15 October 2026

The notes on pages 2 to 5 form part of these financial statements.

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NEOS 17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

1.	General information

NEOS 17 Ltd is a private company, limited by shares incorporated in England and Wales. The Company's registered number is 14267541 and its registered office is NEOS Hospitality, Wharton Place, 13 Wharton Street, Cardiff, Wales, CF10 1GS.

The Company was dormant in both the year and the prior period.

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 Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and 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.

On 27 March 2024, the FRC issued ‘Amendments to FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland and other FRSs Periodic Review 2024’. The effective date for most amendments is accounting periods beginning on or after 1 January 2026, with earlier adoption permitted.

The Company has chosen to early adopt the amendments to FRS 102 from the Periodic Review 2024 during the year. The Company's date of initial application is 1 January 2025 and the application of the amendments has resulted in changes to accounting policies for revenue and leases. The impact of these amendments is explained in note 2.2.

Due to the application of the modified retrospective approach on transition, the accounting policies in some areas will differ between 2024 and 2025 and where this is the case, both policies have been included.

The financial statements are prepared in sterling, which is the functional currency of the entity. Amounts are rounded to the nearest £.

The following material accounting policies have been applied:

2.2

Changes in accounting policies and disclosures

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NEOS 17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

The Company has chosen to early adopt the amendments to FRS 102 from the Periodic Review 2024 during the year and implemented these changes from 1 January 2025, using the modified retrospective approach to apply the new Section 23 and Section 20 requirements. In applying this approach, comparative information has not been restated, and any retrospective cumulative effect of initial application is recognised as an adjustment to the opening balance of the profit and loss account.

Any changes to the Company's recognition and accounting methods for revenue and leases following early adoption of the FRS 102 Periodic Review 2024 are detailed within the relevant accounting policy and notes to the financial statements.

Revenue

The revised policy introduces the five-step model for revenue recognition, aligning recognition with the transfer of control rather than risks and rewards.

Management have considered the new additional requirements of Section 23 'Revenue from Contracts with Customers' and deem there to be no material changes on transition to the recognition of the Company's revenue.

Leases

Under the previous version of FRS 102 Section 20, each lease contract for a lessee was classified as either a finance lease or an operating lease. However, with the lease accounting amendments to FRS 102, as a lessee, a lease contract is now recognised as a lease liability with a corresponding right-of-use asset.

Management have considered the new additional requirements of Section 20 'Leases' and deem there to be no material changes on transition to the recognition of the Company's leases.

2.3

Going concern

The financial statements have been prepared on the going concern basis, assuming the Company will continue in existence and operation for the foreseeable future. The directors have assessed the Company's ability to continue as a going concern and believe it remains appropriate. This assessment considers the availability of financial support which the Company continues to receive from the wider group headed by NEOS Topco Ltd, which has confirmed its commitment to provide necessary funding for at least the next 12 months from the reporting date.

2.4

Debtors

Short-term debtors are measured at transaction price, less any impairment.

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NEOS 17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

2.Accounting policies (continued)

2.5

Financial instruments

The Company has elected to apply the provisions of Section 11 “Basic Financial Instruments” of FRS 102 to all of its financial instruments.

Financial instruments are recognised in the Company's Statement of Financial Position when the Company becomes party to the contractual provisions of the instrument.

Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Employees

The Company has no employees other than the directors, who did not receive any remuneration (2024: £Nil).

Debtors

					2025	2024
					£	£

	Amounts owed by group undertakings	1	1

Amounts owed by group undertakings are unsecured, interest free and repayable on demand.

5.	Related party transactions
	The Company has taken advantage of the exemption, under the terms of Section 33.1A 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.

6.	Post balance sheet events

On 27 January 2026, the Company acquired the trade and assets of a new venue from the administrators of The Revel Collective for a total consideration of £210,454.

Page 4

NEOS 17 LTD

NOTES TO THE FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2025

7.	Controlling party

The Company's immediate parent undertaking is NEOS Holdco Ltd, a company incorporated in England and Wales, with its registered office address at NEOS Hospitality, Wharton Place, 13 Wharton Street, Cardiff, Wales, CF10 1GS.

The smallest group in which the results of the Company are consolidated is that headed by NEOS Holdco Ltd. The largest group in which the results of the Company are consolidated is that headed by NEOS Topco Ltd. NEOS Holdco Ltd and NEOS Topco Ltd are companies incorporated in England and Wales and their consolidated financial statements are available at Companies House.

HGB Hospitality Ltd, a company incorporated in Jersey, and the Company’s ultimate parent undertaking, is deemed to be the Company's ultimate controlling party. The registered office address of HGB Hospitality Ltd is 28 Esplanade, St. Helier, JE2 3QA, Jersey.

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