REGISTERED NUMBER: |
NB INVESTMENTS (UK) LIMITED |
FINANCIAL STATEMENTS |
FOR THE YEAR ENDED 30TH APRIL 2024 |
REGISTERED NUMBER: |
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: |
SECRETARY: |
REGISTERED OFFICE: |
REGISTERED NUMBER: |
ACCOUNTANTS: |
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 |
Investment property | 5 |
CURRENT ASSETS |
Stocks |
Debtors |
Cash at bank |
CREDITORS |
Amounts falling due within one year | ( |
) | ( |
) |
NET CURRENT ASSETS |
TOTAL ASSETS LESS CURRENT LIABILITIES |
CREDITORS |
Amounts falling due after more than one year |
( |
) |
( |
) |
PROVISIONS FOR LIABILITIES | ( |
) | ( |
) |
NET ASSETS |
CAPITAL AND RESERVES |
Called up share capital |
Fair value reserve | 7 |
Retained earnings |
SHAREHOLDERS' FUNDS |
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 were approved by the Board of Directors and authorised for issue on |
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 |
2. | ACCOUNTING POLICIES |
Basis of preparing the financial statements |
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 |
4. | TANGIBLE FIXED ASSETS |
Totals |
£ |
COST |
At 1st May 2023 |
Additions |
At 30th April 2024 |
DEPRECIATION |
At 1st May 2023 |
Charge for year |
At 30th April 2024 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
NET BOOK VALUE |
At 30th April 2024 |
At 30th April 2023 |
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 |
Hire purchase contracts | 27,149 | - |
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 |
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) |