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REGISTERED NUMBER: 03050622 (England and Wales)










NB INVESTMENTS (UK) LIMITED

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30TH APRIL 2024






NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024




Page

Company Information 1

Abridged Balance Sheet 2

Notes to the Financial Statements 4


NB INVESTMENTS (UK) LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 30TH APRIL 2024







DIRECTORS: S.D. Richardson
M Richardson





SECRETARY: M.A. Richardson





REGISTERED OFFICE: 137 Station Road
Chingford
London
E4 6AG





REGISTERED NUMBER: 03050622 (England and Wales)





ACCOUNTANTS: Cobbin Floyd Ltd
t/as Findlay Wetherfield Scott & Co.
Chartered Accountants
137, Station Road
Chingford,
London
E4 6AG

NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)

ABRIDGED BALANCE SHEET
30TH APRIL 2024

2024 2023
Notes £    £   
FIXED ASSETS
Tangible assets 4 30,485 6,758
Investment property 5 2,514,678 2,514,678
2,545,163 2,521,436

CURRENT ASSETS
Stocks 2,975,117 2,469,805
Debtors 51,337 18,853
Cash at bank 109,357 170,950
3,135,811 2,659,608
CREDITORS
Amounts falling due within one year (489,142 ) (602,394 )
NET CURRENT ASSETS 2,646,669 2,057,214
TOTAL ASSETS LESS CURRENT
LIABILITIES

5,191,832

4,578,650

CREDITORS
Amounts falling due after more than one
year

(2,769,024

)

(2,151,197

)

PROVISIONS FOR LIABILITIES (159,126 ) (159,126 )
NET ASSETS 2,263,682 2,268,327

CAPITAL AND RESERVES
Called up share capital 1,000 1,000
Fair value reserve 7 901,845 901,845
Retained earnings 1,360,837 1,365,482
SHAREHOLDERS' FUNDS 2,263,682 2,268,327

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30th April 2024.

The members have not required the company to obtain an audit of its financial statements for the year ended 30th April 2024 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.

NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)

ABRIDGED BALANCE SHEET - continued
30TH APRIL 2024


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

All the members have consented to the preparation of an abridged Balance Sheet for the year ended 30th April 2024 in accordance with Section 444(2A) of the Companies Act 2006.

In accordance with Section 444 of the Companies Act 2006, the Income Statement has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 28th January 2025 and were signed on its behalf by:




S.D. Richardson - Director



M Richardson - Director


NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30TH APRIL 2024

1. STATUTORY INFORMATION

NB Investments (UK) Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

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.

Turnover
Turnover represents the rent and service charges receivable from the letting of properties, together with the income from the sale of development properties.

Investment property
Investment property is shown at most recent valuation. Any aggregate surplus or deficit arising from changes in fair value is recognised in profit or loss.

Stocks
Work in progress is valued at the lower of cost and net realisable value.

Cost is calculated using the first-in, first-out method and includes all purchase, transport, and handling costs in bringing stocks to their present location and condition.

In respect of any development projects, included within work in progress, where the majority of the development has been completed an allowance has been made for any profit earned as at the balance sheet date.

Taxation
Taxation for the year comprises current and deferred tax. Tax is recognised in the Income Statement, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax
Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

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

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Hire purchase and leasing commitments
Assets obtained under hire purchase contracts or finance leases are capitalised in the balance sheet. Those held under hire purchase contracts are depreciated over their estimated useful lives. Those held under finance leases are depreciated over their estimated useful lives or the lease term, whichever is the shorter.

The interest element of these obligations is charged to profit or loss over the relevant period. The capital element of the future payments is treated as a liability.

NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 3 (2023 - 2 ) .

4. TANGIBLE FIXED ASSETS
Totals
£   
COST
At 1st May 2023 32,955
Additions 34,651
At 30th April 2024 67,606
DEPRECIATION
At 1st May 2023 26,197
Charge for year 10,924
At 30th April 2024 37,121
NET BOOK VALUE
At 30th April 2024 30,485
At 30th April 2023 6,758

Fixed assets, included in the above, which are held under hire purchase contracts are as follows:

Totals
£   
COST
Additions 30,484
At 30th April 2024 30,484
DEPRECIATION
Charge for year 7,621
At 30th April 2024 7,621
NET BOOK VALUE
At 30th April 2024 22,863

5. INVESTMENT PROPERTY
Total
£   
FAIR VALUE
At 1st May 2023
and 30th April 2024 2,514,678
NET BOOK VALUE
At 30th April 2024 2,514,678
At 30th April 2023 2,514,678

NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

5. INVESTMENT PROPERTY - continued

Fair value at 30th April 2024 is represented by:
£   
Valuation in 2010 89,052
Valuation in 2014 376,949
Valuation in 2015 160,000
Valuation in 2016 88,234
Valuation in 2017 40,000
Valuation in 2018 (4,179 )
Valuation in 2019 325,000
Valuation in 2022 1,000,000
Valuation in 2023 (635,322 )
Cost 1,074,944
2,514,678

If the investment properties had not been revalued they would have been included at the following historical cost:

2024 2023
£    £   
Cost 1,944,944 1,944,944

Investment property was valued on an open market basis on 18th January 2023 by S Richardson - Director .

6. SECURED DEBTS

The following secured debts are included within creditors:

2024 2023
£    £   
Bank loans 2,378,448 1,873,300
Hire purchase contracts 27,149 -
2,405,597 1,873,300

The bank loans were secured against the company's freehold and development properties.

The hire purchase contract is secured against the relevant asset.

7. RESERVES
Fair
value
reserve
£   
At 1st May 2023
and 30th April 2024 901,845

8. DIRECTORS' ADVANCES, CREDITS AND GUARANTEES

At the balance sheet date the total owed by the company to the sole director, S.D. Richardson, amounted to £400,057 (2023 - £372,420).

NB INVESTMENTS (UK) LIMITED (REGISTERED NUMBER: 03050622)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 30TH APRIL 2024

9. RELATED PARTY DISCLOSURES

The controlling party are Mr. and Mrs. S.D.Richardson by virtue of having ownership of 100% of the issued share capital in the company.

Dividends paid to the shareholders were as follows:

S.D. Richardson - £6,250 (2023 - £2,000)

M.A. Richardson - £6,250 (2023 - £2,000)