Caseware UK (AP4) 2023.0.135 2023.0.135 2024-01-312024-01-31The members have not required the company to obtain an audit in accordance with section 476 of the Companies Act 2006.true2023-02-01falseNo description of principal activity64true 12402647 2023-02-01 2024-01-31 12402647 2022-02-01 2023-01-31 12402647 2024-01-31 12402647 2023-01-31 12402647 c:Director3 2023-02-01 2024-01-31 12402647 d:OfficeEquipment 2023-02-01 2024-01-31 12402647 d:OfficeEquipment 2024-01-31 12402647 d:OfficeEquipment 2023-01-31 12402647 d:OfficeEquipment d:OwnedOrFreeholdAssets 2023-02-01 2024-01-31 12402647 d:FreeholdInvestmentProperty 2023-02-01 2024-01-31 12402647 d:FreeholdInvestmentProperty 2024-01-31 12402647 d:FreeholdInvestmentProperty 2023-01-31 12402647 d:CurrentFinancialInstruments 2024-01-31 12402647 d:CurrentFinancialInstruments 2023-01-31 12402647 d:CurrentFinancialInstruments d:WithinOneYear 2024-01-31 12402647 d:CurrentFinancialInstruments d:WithinOneYear 2023-01-31 12402647 d:ShareCapital 2024-01-31 12402647 d:ShareCapital 2023-01-31 12402647 d:RevaluationReserve 2024-01-31 12402647 d:RevaluationReserve 2023-01-31 12402647 d:RetainedEarningsAccumulatedLosses 2024-01-31 12402647 d:RetainedEarningsAccumulatedLosses 2023-01-31 12402647 d:OtherDeferredTax 2024-01-31 12402647 d:OtherDeferredTax 2023-01-31 12402647 c:OrdinaryShareClass1 2023-02-01 2024-01-31 12402647 c:OrdinaryShareClass1 2024-01-31 12402647 c:OrdinaryShareClass1 2023-01-31 12402647 c:OrdinaryShareClass2 2023-02-01 2024-01-31 12402647 c:OrdinaryShareClass2 2024-01-31 12402647 c:OrdinaryShareClass2 2023-01-31 12402647 c:OrdinaryShareClass3 2023-02-01 2024-01-31 12402647 c:OrdinaryShareClass3 2024-01-31 12402647 c:OrdinaryShareClass3 2023-01-31 12402647 c:FRS102 2023-02-01 2024-01-31 12402647 c:AuditExempt-NoAccountantsReport 2023-02-01 2024-01-31 12402647 c:FullAccounts 2023-02-01 2024-01-31 12402647 c:PrivateLimitedCompanyLtd 2023-02-01 2024-01-31 12402647 2 2023-02-01 2024-01-31 12402647 5 2023-02-01 2024-01-31 12402647 6 2023-02-01 2024-01-31 12402647 e:PoundSterling 2023-02-01 2024-01-31 iso4217:GBP xbrli:shares xbrli:pure

Registered number: 12402647









NATIONAL HOUSING GROUP LIMITED







UNAUDITED

FINANCIAL STATEMENTS

INFORMATION FOR FILING WITH THE REGISTRAR

FOR THE YEAR ENDED 31 JANUARY 2024

 
NATIONAL HOUSING GROUP LIMITED
REGISTERED NUMBER: 12402647

BALANCE SHEET
AS AT 31 JANUARY 2024

2024
2023
Note
£
£

Fixed assets
  

Tangible assets
 4 
6,480
6,900

Investments
 5 
2,298,986
2,298,986

Investment property
 6 
446,258
392,770

  
2,751,724
2,698,656

Current assets
  

Debtors: amounts falling due within one year
 7 
4,717,095
3,263,422

Cash at bank and in hand
 8 
22,160
47,917

  
4,739,255
3,311,339

Creditors: amounts falling due within one year
 9 
(7,254,162)
(4,991,546)

Net current liabilities
  
 
 
(2,514,907)
 
 
(1,680,207)

Total assets less current liabilities
  
236,817
1,018,449

Provisions for liabilities
  

Deferred tax
 10 
(574,746)
(574,746)

  
 
 
(574,746)
 
 
(574,746)

Net (liabilities)/assets
  
(337,929)
443,703


Capital and reserves
  

Called up share capital 
 11 
100
100

Revaluation reserve
  
2,062,053
2,062,053

Profit and loss account
  
(2,400,082)
(1,618,450)

  
(337,929)
443,703


Page 1

 
NATIONAL HOUSING GROUP LIMITED
REGISTERED NUMBER: 12402647
    
BALANCE SHEET (CONTINUED)
AS AT 31 JANUARY 2024

The directors consider 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 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 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 18 October 2024.




S B Wasserman
Director

The notes on pages 3 to 11 form part of these financial statements.

Page 2

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

1.


General information

National Housing Group Limited is a private company limited by shares and incorporated in England & Wales (registered number: 12402647). Its registered office is 101 New Cavendish Street, 1st Floor South, London, United Kingdom, W1W 6XH.

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 Section 1A of Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and the Republic of Ireland and the Companies Act 2006.

The following principal accounting policies have been applied:

 
2.2

Going concern

In assessing the ability of the company to operate as a going concern, management have evaluated current and forecasted operational results, and the solvency of the company. As a result, the directors consider it appropriate to prepare the financial statements on a going concern basis.

 
2.3

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.

 
2.4

Operating leases: the Company as lessee

Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.

Benefits received and receivable as an incentive to sign an operating lease are recognised on a straight-line basis over the lease term, unless another systematic basis is representative of the time pattern of the lessee's benefit from the use of the leased asset.

 
2.5

Interest income

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

Page 3

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.6

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.

 
2.7

Borrowing costs

All borrowing costs are recognised in profit or loss in the year in which they are incurred.

 
2.8

Pensions

Defined contribution pension plan

The Company operates a defined contribution plan for its employees. A defined contribution plan is a pension plan under which the Company pays fixed contributions into a separate entity. Once the contributions have been paid the Company has no further payment obligations.

The contributions are recognised as an expense in profit or loss when they fall due. Amounts not paid are shown in accruals as a liability in the Balance Sheet. The assets of the plan are held separately from the Company in independently administered funds.

 
2.9

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.

Page 4

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.10

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, using the straight-line method.

Depreciation is provided on the following basis:

Office equipment
-
25%

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.

 
2.11

Revaluation of tangible fixed assets

Individual freehold and leasehold properties are carried at current year value at fair value at the date of the revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses. Revaluations are undertaken with sufficient regularity to ensure the carrying amount does not differ materially from that which would be determined using fair value at the balance sheet date.
Fair values are determined from market based evidence normally undertaken by professionally qualified valuers.

Revaluation gains and losses are recognised in other comprehensive income unless losses exceed the previously recognised gains or reflect a clear consumption of economic benefits, in which case the excess losses are recognised in profit or loss.

 
2.12

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.

 
2.13

Valuation of investments

Investments in subsidiaries are measured at cost less accumulated impairment.

 
2.14

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.

Page 5

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

2.Accounting policies (continued)

 
2.15

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.

 
2.16

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.

 
2.17

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.


3.


Employees

The average monthly number of employees, including directors, during the year was 6 (2023 - 4).

Page 6

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

4.


Tangible fixed assets





Office equipment

£



Cost or valuation


At 1 February 2023
9,325


Additions
1,424



At 31 January 2024

10,749



Depreciation


At 1 February 2023
2,425


Charge for the year on owned assets
1,844



At 31 January 2024

4,269



Net book value



At 31 January 2024
6,480



At 31 January 2023
6,900


5.


Fixed asset investments





Investments in subsidiary companies

£



Cost or valuation


At 1 February 2023
2,298,986



At 31 January 2024
2,298,986




Page 7

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

6.


Investment property


Freehold investment property

£



Valuation


At 1 February 2023
392,770


Additions at cost
53,488



At 31 January 2024
446,258

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





If the Investment properties had been accounted for under the historic cost accounting rules, the properties would have been measured as follows:

2024
2023
£
£


Historic cost
446,258
392,770

446,258
392,770

Page 8

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

7.


Debtors

2024
2023
£
£


Trade debtors
27,996
18,290

Amounts owed by group undertakings
3,730,264
2,265,765

Other debtors
856,420
796,170

Prepayments and accrued income
102,415
183,197

4,717,095
3,263,422



8.


Cash and cash equivalents

2024
2023
£
£

Cash at bank and in hand
22,160
47,917

22,160
47,917



9.


Creditors: Amounts falling due within one year

2024
2023
£
£

Bank loans
-
9,915

Other loans
3,767
-

Trade creditors
132,563
109,787

Amounts owed to group undertakings
881,293
698,843

Other taxation and social security
19,373
-

Other creditors
6,169,994
4,152,742

Accruals and deferred income
47,172
20,259

7,254,162
4,991,546



10.


Deferred taxation

Page 9

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024
 
10.Deferred taxation (continued)




2024


£






At beginning of year
(574,746)



At end of year
(574,746)

The provision for deferred taxation is made up as follows:

2024
2023
£
£


Revaluation of investments
(574,746)
(574,746)

(574,746)
(574,746)

Page 10

 
NATIONAL HOUSING GROUP LIMITED
 
 
 
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 JANUARY 2024

11.


Share capital

2024
2023
£
£
Allotted, called up and fully paid



60 (2023 - 60) Ordinary A shares of £1.00 each
60
60
20 (2023 - 20) Ordinary B shares of £1.00 each
20
20
20 (2023 - 20) Ordinary C shares of £1.00 each
20
20

100

100



12.


Related party transactions

Included in other creditors is an amount of 876,582 (2023: £243,581) to a director of the Company. Included in other debtors is £255,815 (2023: £82,503) due from shareholders of the Company.
 
At the year-end, the Company owed £1,309 (2023: £8,993) to a subsidiary, and £3,866,545 (2022: £3,867,334) to a Company in which a director and ultimate shareholder has a controlling interest.

 
Page 11