Caneo Estates Limited

	Page
Balance Sheet	1—2
Notes to the Financial Statements	3—5

Registered number: 04168116

		2025		2024
	Notes	£	£	£	£
FIXED ASSETS
Tangible Assets	4		7,140,047		7,140,047

			7,140,047		7,140,047
CURRENT ASSETS
Debtors	5	635,824		638,726
Cash at bank and in hand		160,833		118,691

		796,657		757,417
Creditors: Amounts Falling Due Within One Year	6	(3,099,040 )		(2,691,009 )

NET CURRENT ASSETS (LIABILITIES)			(2,302,383 )		(1,933,592 )

TOTAL ASSETS LESS CURRENT LIABILITIES			4,837,664		5,206,455

PROVISIONS FOR LIABILITIES
Deferred Taxation			(732,533 )		(586,725 )

NET ASSETS			4,105,131		4,619,730

CAPITAL AND RESERVES
Called up share capital	7		280		280
Revaluation reserve	8		2,930,131		2,930,131
Profit and Loss Account			1,174,720		1,689,319

SHAREHOLDERS' FUNDS			4,105,131		4,619,730

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Caneo Estates Limited

Balance Sheet (continued)

As At 28 February 2025

For the year ending 28 February 2025 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These accounts have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

The company has taken advantage of section 444(1) of the Companies Act 2006 and opted not to deliver to the registrar a copy of the company's Profit and Loss Account.

On behalf of the board

Mr Neoclis Neocleous

Director

18/11/2025

The notes on pages 3 to 5 form part of these financial statements.

1. General Information

Caneo Estates Limited is a private company, limited by shares, incorporated in England & Wales, registered number 04168116 . The registered office is Wellington House, 273-275 High Street, London Colney, Hertfordshire, AL2 1HA.

2. Accounting Policies

2.1. Basis of Preparation of Financial Statements

The financial statements have been prepared under the historical cost convention and in accordance with Financial Reporting Standard 102 section 1A Small Entities "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and the Companies Act 2006.

2.2. Turnover

Turnover represents net invoiced rental income, exclusing value added tax.

2.3. Tangible Fixed Assets and Depreciation

Tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. Depreciation is provided at rates calculated to write off the cost of the fixed assets, less their estimated residual value, over their expected useful lives on the following bases:

Fixtures & Fittings

25% on reducing balance

2.4. Investment Properties

Investment property, which is property held to earn rentals and / or for capital appreciation, is initially recognised at cost, which includes the pourchase cost and any directly attributable expenditure.

Subsequently it is measured at fair value at the reporting end date. The surplus or deficit on revalution is recognised in the profit and loss account. Where fair value cannot be achieved without undue cost or effort, investment property is accounted for as tangible fixed asset.

2.5. Taxation

Income tax expense represents the sum of the tax currently payable and deferred tax.

The tax currently payable is based on taxable profit for the year. Taxable profit differs from profit as reported in the statement of comprehensive income because of items of income or expense that are taxable or deductible in other years and items that are never taxable or deductible. The company's liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the end of the reporting period.

Deferred tax is recognised on timing differences between the carrying amounts of assets and liabilities in the financial statements and the corresponding tax bases used in the computation of taxable profit. Deferred tax liabilities are generally recognised for all taxable timing differences. Deferred tax assets are generally recognised for all deductible temporary differences to the extent that it is probable that taxable profits will be available against which those deductible timing differences can be utilised. The carrying amount of deferred tax assets is reviewed at the end of each reporting period and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered.

Deferred tax assets and liabilities are measured at the tax rates that are expected to apply in the period in which the liability is settled or the asset realised, based on tax rates (and tax laws) that have been enacted or substantively enacted by the end of the reporting period. Deferred tax liabilities are presented within provisions for liabilities and deferred tax assets within debtors. The measurement of deferred tax liabilities and assets reflect the tax consequences that would follow from the manner in which the Company expects, at the end of the reporting period, to recover or settle the carrying amount of its assets and liabilities.

Current and deferred tax are recognised in profit or loss for the year, except when they relate to items that are recognised in other comprehensive income or directly in equity, in which case current and deferred tax are recognised in other comprehensive income or directly in equity respectively.

3. Average Number of Employees

Average number of employees, including directors, during the year was: 3 (2024: 3)

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Caneo Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

4. Tangible Assets

	Investment Properties	Fixtures & Fittings	Total
	£	£	£
Cost
As at 1 March 2024	7,140,047	1,000	7,141,047

As at 28 February 2025	7,140,047	1,000	7,141,047

Depreciation
As at 1 March 2024	-	1,000	1,000

As at 28 February 2025	-	1,000	1,000

Net Book Value
As at 28 February 2025	7,140,047	-	7,140,047

As at 1 March 2024	7,140,047	-	7,140,047

5. Debtors

	2025	2024
	£	£
Due within one year
Trade debtors	2,917	5,500
Prepayments and accrued income	3,407	3,726
Amounts owed by group undertakings	629,500	629,500

	635,824	638,726

6. Creditors: Amounts Falling Due Within One Year

	2025	2024
	£	£
Trade creditors	1	1
Corporation tax	93,818	84,873
VAT	14,997	14,997
Other creditors	2,916,746	2,516,746
Deposits	38,330	37,894
Accruals and deferred income	22,689	24,039
Directors' loan accounts	12,459	12,459

	3,099,040	2,691,009

7. Share Capital

	2025	2024
	£	£
Allotted, Called up and fully paid	280	280

8. Reserves

	Revaluation Reserve
	£
As at 1 March 2024	2,930,131

As at 28 February 2025	2,930,131

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Caneo Estates Limited

Notes to the Financial Statements (continued)

For The Year Ended 28 February 2025

9. Related Party Transactions

Neo Brothers Limited

At the balance sheet date an intercompany loan of £2,916,745 (2024: £2,516,745) was owed by the company to Neo Brothers Limited on which no interest was charged. Mr A Neocleous and Mr N Neocleous have a controlling interest in Neo Brothers Limited.

Rental income of £83,750 was received from Neo Brothers Limited during the year (2024: £63,750).

Neo-Cass Holdings Limited

At the balance sheet date an interecompany loan of £315,000 (2024: £315,000) was owed to the company from Neo-Cass Holdings Ltd on which no interest was charged. Mr N Neocleous has a controlling interest in Neo-Cass Holdings Ltd.

Epsilon Estates Limited

At the balance sheet date an interecompany loan of £314,500 (2024: £314,500) was owed to the company from Epsilon Estates Limited on which no interest was charged. Mr A Neocleous has a controlling interest in Epsilon Estates Limited.

10. Ultimate Controlling Party

The company is under the control of the directors, who control 100% of the issued share capital.

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