Caseware UK (AP4) 2023.0.135 2023.0.135 2024-05-312024-05-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.3falseInvestment property2023-06-013truetruefalse 06363539 2023-06-01 2024-05-31 06363539 2022-06-01 2023-05-31 06363539 2024-05-31 06363539 2023-05-31 06363539 2022-06-01 06363539 2 2022-06-01 2023-05-31 06363539 d:Director1 2023-06-01 2024-05-31 06363539 e:Buildings 2023-06-01 2024-05-31 06363539 e:Buildings 2024-05-31 06363539 e:Buildings 2023-05-31 06363539 e:FreeholdInvestmentProperty 2023-06-01 2024-05-31 06363539 e:FreeholdInvestmentProperty 2024-05-31 06363539 e:FreeholdInvestmentProperty 2023-05-31 06363539 e:CurrentFinancialInstruments 2024-05-31 06363539 e:CurrentFinancialInstruments 2023-05-31 06363539 e:CurrentFinancialInstruments e:WithinOneYear 2024-05-31 06363539 e:CurrentFinancialInstruments e:WithinOneYear 2023-05-31 06363539 e:ShareCapital 2023-06-01 2024-05-31 06363539 e:ShareCapital 2024-05-31 06363539 e:ShareCapital 2022-06-01 2023-05-31 06363539 e:ShareCapital 2023-05-31 06363539 e:ShareCapital 2022-06-01 06363539 e:InvestmentPropertiesRevaluationReserve 2023-06-01 2024-05-31 06363539 e:InvestmentPropertiesRevaluationReserve 2024-05-31 06363539 e:InvestmentPropertiesRevaluationReserve 2022-06-01 2023-05-31 06363539 e:InvestmentPropertiesRevaluationReserve 2023-05-31 06363539 e:InvestmentPropertiesRevaluationReserve 2022-06-01 06363539 e:InvestmentPropertiesRevaluationReserve 2 2022-06-01 2023-05-31 06363539 e:RetainedEarningsAccumulatedLosses 2023-06-01 2024-05-31 06363539 e:RetainedEarningsAccumulatedLosses 2024-05-31 06363539 e:RetainedEarningsAccumulatedLosses 2022-06-01 2023-05-31 06363539 e:RetainedEarningsAccumulatedLosses 2023-05-31 06363539 e:RetainedEarningsAccumulatedLosses 2022-06-01 06363539 e:RetainedEarningsAccumulatedLosses 2 2022-06-01 2023-05-31 06363539 d:FRS102 2023-06-01 2024-05-31 06363539 d:AuditExemptWithAccountantsReport 2023-06-01 2024-05-31 06363539 d:FullAccounts 2023-06-01 2024-05-31 06363539 d:PrivateLimitedCompanyLtd 2023-06-01 2024-05-31 06363539 2 2023-06-01 2024-05-31 06363539 6 2023-06-01 2024-05-31 06363539 f:PoundSterling 2023-06-01 2024-05-31 iso4217:GBP xbrli:pure
Registered number: 06363539






NOG HOLDINGS LIMITED
UNAUDITED
FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024










img2ec4.png

 
NOG HOLDINGS LIMITED
 
 
  
CHARTERED ACCOUNTANTS' REPORT TO THE DIRECTOR ON THE PREPARATION OF THE UNAUDITED STATUTORY FINANCIAL STATEMENTS OF NOG HOLDINGS LIMITED
FOR THE YEAR ENDED 31 MAY 2024

In order to assist you to fulfil your duties under the Companies Act 2006, we have prepared for your approval the financial statements of NOG Holdings Limited for the year ended 31 May 2024 which comprise  the Balance Sheet, the Statement of Changes in Equity 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 Institute of Chartered Accountants in England and Wales (ICAEW)we are subject to its ethical and other professional requirements which are detailed at https://www.icaew.com /regulation.

This report is made solely to the director of NOG Holdings Limited in accordance with the terms of our engagement letter dated 6 September 2022Our work has been undertaken solely to prepare for your approval the financial statements of NOG Holdings Limited and state those matters that we have agreed to state to the director of NOG Holdings Limited in this report in accordance with ICAEW Technical Release TECH07/16AAF. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than NOG Holdings Limited and its director for our work or for this report. 

It is your duty to ensure that NOG Holdings Limited 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 NOG Holdings Limited. You consider that NOG Holdings Limited is exempt from the statutory audit requirement for the year.

We have not been instructed to carry out an audit or review of the financial statements of NOG Holdings Limited. 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.

  



Venthams
 
Chartered Accountants
  
Phoenix House
Redhill Aerodrome
Kings Mill Lane
Redhill
Surrey
RH1 5JY
23 September 2024
Page 1

 
NOG HOLDINGS LIMITED
REGISTERED NUMBER:06363539

BALANCE SHEET
AS AT 31 MAY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
41,214
41,214

Investments
 5 
308,252
274,369

Investment property
 6 
1,473,617
1,471,773

  
1,823,083
1,787,356

Current assets
  

Stocks
  
2,800
1,193

Debtors: amounts falling due within one year
 7 
26,015
35,451

Cash at bank and in hand
 8 
1,044,336
800,566

  
1,073,151
837,210

Creditors: amounts falling due within one year
 9 
(596,329)
(332,738)

Net current assets
  
 
 
476,822
 
 
504,472

Total assets less current liabilities
  
2,299,905
2,291,828

Provisions for liabilities
  

Deferred tax
  
(73,924)
(73,924)

  
 
 
(73,924)
 
 
(73,924)

Net assets
  
2,225,981
2,217,904


Capital and reserves
  

Called up share capital 
  
100
100

Investment property reserve
 10 
311,244
311,244

Profit and loss account
 10 
1,914,637
1,906,560

  
2,225,981
2,217,904


Page 2

 
NOG HOLDINGS LIMITED
REGISTERED NUMBER:06363539
    
BALANCE SHEET (CONTINUED)
AS AT 31 MAY 2024

The director considers 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 director acknowledges his 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 22 September 2024.




J A Norton
Director

Page 3

 
NOG HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2024


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 June 2023
100
311,244
1,906,560
2,217,904


Comprehensive income for the year

Profit for the year
-
-
38,577
38,577
Total comprehensive income for the year
-
-
38,577
38,577


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(30,500)
(30,500)


Total transactions with owners
-
-
(30,500)
(30,500)


At 31 May 2024
100
311,244
1,914,637
2,225,981


The notes on pages 6 to 12 form part of these financial statements.

Page 4

 
NOG HOLDINGS LIMITED
 

STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 MAY 2023


Called up share capital
Investment property revaluation reserve
Profit and loss account
Total equity

£
£
£
£

At 1 June 2022
100
213,900
1,786,595
2,000,595


Comprehensive income for the year

Profit for the year
-
-
210,135
210,135
Total comprehensive income for the year
-
-
210,135
210,135


Contributions by and distributions to owners

Dividends: Equity capital
-
-
(18,000)
(18,000)

Other movement type 1
-
97,344
(72,170)
25,174


Total transactions with owners
-
97,344
(90,170)
7,174


At 31 May 2023
100
311,244
1,906,560
2,217,904


The notes on pages 6 to 12 form part of these financial statements.

Page 5

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

1.


General information

NOG Holdings Limited is a private company limited by shares, incorporated in England and Wales. Its registered office is C/O Venthams Ltd, Unit 8, Phoenix House, Redhill Aerodrome, Kings Mill Lane, Redhill, Surrey, RH1 5JY. 
The principal activity of the company continued to be the rental of investment properties and includes the trading of grain for breweries.

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

Revenue

Revenue is recognised to the extent that it is probable that the economic benefits will flow to the company and the revenue can be reliably measured. Revenue is measured as the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Rendering of services

Revenue from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract when all of the following conditions are satisfied:
the amount of revenue can be measured reliably;
it is probable that the company will receive the consideration due under the contract;
the stage of completion of the contract at the end of the reporting period can be measured reliably; and
the costs incurred and the costs to complete the contract can be measured reliably.

 
2.3

Interest income

Interest income is recognised in profit or loss using the effective interest method.

 
2.4

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.

Page 6

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

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 balance sheet 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 balance sheet 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 balance sheet date.

 
2.6

Tangible fixed assets

Tangible fixed assets under the cost model are stated at historical cost less accumulated depreciation and any accumulated impairment losses. Historical cost includes expenditure that is directly attributable to bringing the asset to the location and condition necessary for it to be capable of operating in the manner intended by management.

Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives,  unless depreciation not deemed necessary..

Depreciation is provided on the following basis:

Freehold property
-
Nil - The property is maintained at such a level that residual value exceeds cost

The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.

Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.

Page 7

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
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

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

Investments in unlisted company shares, whose market value can be reliably determined, are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in the Statement of Comprehensive Income for the period. Where market value cannot be reliably determined, such investments are stated at historic cost less impairment.

Investments in listed company shares are remeasured to market value at each balance sheet date. Gains and losses on remeasurement are recognised in profit or loss for the period.

 
2.9

Stocks

Stocks are stated at the lower of cost and net realisable value, being the estimated selling price less costs to complete and sell. Cost is based on the cost of purchase on a first in, first out basis. Work in progress and finished goods include labour and attributable overheads.

At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.

 
2.10

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.

 
2.11

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.

 
2.12

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.

Page 8

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

2.Accounting policies (continued)

 
2.13

Provisions for liabilities

Provisions are recognised when an event has taken place that gives rise to a legal or constructive obligation, a transfer of economic benefits is probable and a reliable estimate can be made.
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
 
Increases in provisions are generally charged as an expense to profit or loss.

 
2.14

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 Balance Sheet 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.

Basic financial assets

Basic financial assets, which include trade and other receivables, cash and bank balances, are initially measured at their transaction price including transaction costs and are subsequently carried at their amortised cost using the effective interest method, less any provision for impairment, unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest.

Discounting is omitted where the effect of discounting is immaterial. The company's cash and cash equivalents, trade and most other receivables due with the operating cycle fall into this category of financial instruments.


3.


Employees

2024
2023
£
£

Wages and salaries
37,728
34,081

37,728
34,081


The average monthly number of employees, including directors, during the year was 3 (2023 - 3).

Page 9

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

4.


Tangible fixed assets





Land and buildings

£



Cost or valuation


At 1 June 2023
41,214



At 31 May 2024

41,214






Net book value



At 31 May 2024
41,214



At 31 May 2023
41,214


5.


Fixed asset investments





Listed investments

£



Cost or valuation


At 1 June 2023
274,369


Additions
7,192


Revaluations
26,691



At 31 May 2024
308,252




Page 10

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 June 2023
1,471,773


Additions at cost
1,844



At 31 May 2024
1,473,617

The 2024 valuations were made by the director, on an open market value for existing use basis.





7.


Debtors

2024
2023
£
£


Trade debtors
25,762
35,240

Prepayments and accrued income
253
211

26,015
35,451



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
1,044,336
800,566

1,044,336
800,566


Page 11

 
NOG HOLDINGS LIMITED
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MAY 2024

9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Trade creditors
16,176
2,874

Amounts owed to group undertakings
-
269

Other taxation and social security
786
378

Other creditors
574,060
319,367

Accruals and deferred income
5,307
9,850

596,329
332,738



10.


Reserves

Revaluation reserve

This reserve forms part of the profit and loss reserve representing the non-distributable element arising from the revaluation of investment property and listed investments.

 
Page 12