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REGISTERED NUMBER: 10006825 (England and Wales)















NNS INVESTMENTS LTD

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 28 FEBRUARY 2022






NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022










Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8

Chartered Certified Accountants' Report 9

NNS INVESTMENTS LTD

COMPANY INFORMATION
FOR THE YEAR ENDED 28 FEBRUARY 2022







DIRECTORS: Mrs S N Selley
N J Selley





REGISTERED OFFICE: 4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF





REGISTERED NUMBER: 10006825 (England and Wales)





ACCOUNTANTS: Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF

NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

BALANCE SHEET
28 FEBRUARY 2022

2022 2021
Notes £    £    £    £   
FIXED ASSETS
Investment property 4 1,145,780 951,842

CURRENT ASSETS
Debtors 5 306 223
Cash at bank 20,219 22,699
20,525 22,922
CREDITORS
Amounts falling due within one year 6 8,378 17,586
NET CURRENT ASSETS 12,147 5,336
TOTAL ASSETS LESS CURRENT
LIABILITIES

1,157,927

957,178

CREDITORS
Amounts falling due after more than one
year

7

(856,874

)

(856,875

)

PROVISIONS FOR LIABILITIES (62,438 ) (10,604 )
NET ASSETS 238,615 89,699

CAPITAL AND RESERVES
Called up share capital 8 100 100
Revaluation reserve 9 232,623 90,520
Retained earnings 5,892 (921 )
SHAREHOLDERS' FUNDS 238,615 89,699

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 28 February 2022.

The members have not required the company to obtain an audit of its financial statements for the year ended 28 February 2022 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their 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.

NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

BALANCE SHEET - continued
28 FEBRUARY 2022


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 and authorised for issue by the Board of Directors and authorised for issue on 13 August 2022 and were signed on its behalf by:





N J Selley - Director


NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 28 FEBRUARY 2022


1. STATUTORY INFORMATION

NNS Investments Ltd is a limited company incorporated in England and Wales under the Companies Act. The address of the registered office is given in the company information section and its principal place of business is at Villa T54, District 9, Jumeirah Park, Dubai.

The financial statements are presented in Sterling (£) and rounded to the nearest pound.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
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. The financial statements have been prepared under the historical cost convention as modified by the revaluation of certain assets.

Significant judgements and estimates
In the application of the company's accounting policies, which are described in the accounting policies below, management is required to make judgements, estimates and assumptions about the carrying values of assets and liabilities that are not readily apparent from other sources. The estimates and underlying assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates which could result in a material adjustment to the carrying amounts of assets or liabilities affected in future periods.

Judgements
In preparing these financial statements, the directors have made the following judgements, which have the most significant effect on the amounts recognised in the financial statements:

Operating lease commitments - company as lessor
The Company has entered into residential property leases on its investment property portfolio. The Company has determined, based on an evaluation of the terms and conditions of the arrangements, such as the lease term not constituting a major part of the economic life of the residential property and the present value of the minimum lease payments not amounting to substantially all of the fair value of the residential property, that it retains all the significant risks and rewards of ownership of these properties and accounts for the contracts as operating leases.

Estimates and assumptions
The key assumptions concerning the future and other key sources of estimation uncertainty at the reporting date, that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year, are described below. The Company based its assumptions and estimates on parameters available when the financial statements were prepared. Existing circumstances and assumptions about future developments; however, may change due to market changes or circumstances arising that are beyond the control of the Company. Such changes are reflected in the assumptions when they occur.

Valuation of investment properties
The Company carries its investment properties at fair value, with changes in fair value being recognised in the statement of profit or loss. The Company directors assessed the fair value of the properties in the year end 28 February 2022. For investment properties, a valuation methodology based on yield rates and local market knowledge was used by the directors for the year end 28 February 2022.

The key assumptions used to determine the fair value of the properties are provided in the investment property accounting policy.

Revenue recognition
Rental income arising from operating leases on investment properties is accounted for on a straight line basis over the lease term.

NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022


2. ACCOUNTING POLICIES - continued

Investment property
Property is held to earn rental income. Such properties are held for their long term investment potential. Investment properties are accounted for as follows:

Investment properties are measured initially at cost, including transaction costs and any directly attributable expenditure. Subsequent to initial recognition, investment properties are stated at fair value, where such properties can be measured reliably and which reflects market conditions at the reporting date. Gains or losses arising from changes in the fair values of investment properties are included in profit or loss in the period in which they arise, including the corresponding tax effect.

Fair values are determined based on an annual evaluation by either independent professional third party valuers or the directors. No depreciation is provided in respect of investment properties.

Investment properties are derecognised either when they have been disposed of or when they are permanently withdrawn from use and no future economic benefit is expected from their disposal. The difference between the net disposal proceeds and the carrying amount of the asset is recognised in profit or loss in the period of derecognition.

Income from investment properties is disclosed in 'Turnover' and details are shown in note 4 'Investment property'. The related operating costs are included within administrative expenses.

Financial instruments
The company only enters into basic financial instruments transactions that result in the recognition of financial assets and liabilities like trade and other accounts payable and loans to/from related parties.

Debt instruments, like loans and other accounts receivable and payable, are initially measured at present value of the future payments and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade payables or receivables, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration, expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade creditor deferred beyond normal business terms or financed at a rate of interest that is not a market rate or in case of an outright short-term loan not at market rate, the financial asset or liability is measured, initially and subsequently, at the present value of the future payment discounted at a market rate of interest for a similar debt instrument.

Trade and other creditors
Trade and other creditors are initially recognised at fair value and thereafter stated at amortised cost using the effective interest method unless the effect of discounting would be immaterial, in which case they are stated at cost.


NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022


2. ACCOUNTING POLICIES - continued
Taxation
The taxation expense for the year comprises current and deferred tax recognised in the reporting period. Tax is recognised in the profit and loss account, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is also recognised in the other comprehensive income or directly in equity respectively.

Current or deferred taxation assets and liabilities are not discounted.

Current tax
Current tax is the amount of income tax payable in respect of the taxable profit for the year or prior years. Tax is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the prior period.

Deferred tax
Deferred tax arises from timing differences that are differences between taxable profits and total comprehensive income as stated in the financial statements. These timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in the financial statements.

Deferred tax is recognised on all timing differences at the reporting date except for certain exemptions.
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.
Unrelieved tax losses and other deferred tax assets are only recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using rates and laws that have been enacted or substantively enacted by
the period end and that are expected to apply to the reversal of the timing differences.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2021 - 2 ) .

4. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1 March 2021 951,842
Revaluations 193,938
At 28 February 2022 1,145,780
NET BOOK VALUE
At 28 February 2022 1,145,780
At 28 February 2021 951,842

The land and buildings included at valuation in the balance sheet were made at their fair value on the basis of market value assessed by the directors. The fair value measurements are classed as level 3, which are significant unobservable inputs, within the fair value hierarchy framework.

No independent valuation of the properties has been carried out.

The value of the properties included within freehold investment properties, have a cost of £850,718 and no depreciation is charged and are held for use in operating leases for the purpose of generating rental income.

NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022


4. INVESTMENT PROPERTY - continued

Fair value at 28 February 2022 is represented by:
£   
Valuation in 2018 45,747
Valuation in 2019 32,885
Valuation in 2020 5,425
Valuation in 2021 17,067
Valuation in 2022 193,938
Cost 850,718
1,145,780

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Other debtors 306 223

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
2022 2021
£    £   
Taxation and social security 154 -
Other creditors 8,224 17,586
8,378 17,586

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
2022 2021
£    £   
Other creditors 856,874 856,875

8. CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:
Number: Class: Nominal 2022 2021
value: £    £   
100 Ordinary £1 100 100

NNS INVESTMENTS LTD (REGISTERED NUMBER: 10006825)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 28 FEBRUARY 2022


9. RESERVES
Revaluation
reserve
£   
At 1 March 2021 90,520
Transfer 142,103

At 28 February 2022 232,623

The above revaluation reserve relates to non-distributable reserves arising from the revaluation of investment property net of deferred tax charges.

CHARTERED CERTIFIED ACCOUNTANTS' REPORT TO THE BOARD OF DIRECTORS
ON THE UNAUDITED FINANCIAL STATEMENTS OF
NNS INVESTMENTS LTD


The following reproduces the text of the report prepared for the directors in respect of the company's annual unaudited financial statements. In accordance with the Companies Act 2006, the company is only required to file a Balance Sheet. Readers are cautioned that the Income Statement and certain other primary statements and the Report of the Directors are not required to be filed with the Registrar of Companies.

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NNS Investments Ltd for the year ended 28 February 2022 which comprise the Income Statement, Balance Sheet and the related notes from the company's accounting records and from information and explanations you have given us.

As a practising member firm of the Association of Chartered Certified Accountants, we are subject to its ethical and other professional requirements which are detailed at http://www.accaglobal.com/rulebook.

This report is made solely to the Board of Directors of NNS Investments Ltd, as a body, in accordance with the terms of our engagement letter dated 28 February 2016. Our work has been undertaken solely to prepare for your approval the financial statements of NNS Investments Ltd and state those matters that we have agreed to state to the Board of Directors of NNS Investments Ltd, as a body, in this report in accordance with the requirements of the Association of Chartered Certified Accountants as detailed at http://www.accaglobal.com/factsheet163. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and its Board of Directors, as a body, for our work or for this report.

It is your duty to ensure that NNS Investments Ltd has kept adequate accounting records and to prepare statutory financial statements that give a true and fair view of the assets, liabilities, financial position and profit of NNS Investments Ltd. You consider that NNS Investments Ltd is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or a review of the financial statements of NNS Investments Ltd. For this reason, we have not verified the accuracy or completeness of the accounting records or information and explanations you have given to us and we do not, therefore, express any opinion on the statutory financial statements.






Essex Abel Ltd
4 Bank Court
Weldon Road
Loughborough
Leicestershire
LE11 5RF


15 August 2022