Company registration number 09327668 (England and Wales)
NN3 (2014) LTD.
UNAUDITED FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
PAGES FOR FILING WITH REGISTRAR
NN3 (2014) LTD.
CONTENTS
Page
Balance sheet
1 - 2
Notes to the financial statements
3 - 5
NN3 (2014) LTD.
BALANCE SHEET
AS AT 30 NOVEMBER 2024
30 November 2024
- 1 -
2024
2023
Notes
£
£
£
£
Fixed assets
Investment property
4
2,500,000
2,500,000
Investments
5
49
49
2,500,049
2,500,049
Current assets
Debtors
6
195,619
212,362
Cash at bank and in hand
187,514
59,431
383,133
271,793
Creditors: amounts falling due within one year
7
(839,968)
(874,455)
Net current liabilities
(456,835)
(602,662)
Total assets less current liabilities
2,043,214
1,897,387
Provisions for liabilities
(301,560)
(301,560)
Net assets
1,741,654
1,595,827
Capital and reserves
Called up share capital
100
100
Revaluation reserve
8
994,001
994,001
Profit and loss reserves
747,553
601,726
Total equity
1,741,654
1,595,827
NN3 (2014) LTD.
BALANCE SHEET (CONTINUED)
AS AT 30 NOVEMBER 2024
30 November 2024
- 2 -

For the financial year ended 30 November 2024 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

The member has not required the company to obtain an audit of its financial statements for the year in question in accordance with section 476.

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.

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

The director of the company has elected not to include a copy of the profit and loss account within the financial statements.true

The financial statements were approved and signed by the director and authorised for issue on 28 August 2025
Mr M Quirke
Director
Company registration number 09327668 (England and Wales)
NN3 (2014) LTD.
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 3 -
1
Accounting policies
Company information

NN3 (2014) Ltd. is a private company limited by shares incorporated in England and Wales. The registered office is ITS House, South Portway Close, Round Spinney Industrial Estate, Northampton, Northamptonshire, England, NN3 8RH.

1.1
Accounting convention

These financial statements have been prepared in accordance with FRS 102 “The Financial Reporting Standard applicable in the UK and Republic of Ireland” (“FRS 102”) and the requirements of the Companies Act 2006 as applicable to companies subject to the small companies regime. 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 financial statements are prepared in sterling, which is the functional currency of the company. Monetary amounts in these financial statements are rounded to the nearest £.

The financial statements have been prepared under the historical cost convention, modified to include the revaluation of certain assets. The principal accounting policies adopted are set out below.

1.2
Turnover

Turnover represents net invoiced rent receivable from the company's property portfolio, excluding value added tax.

 

Where the rental period straddles the financial year end, the proportion that relates to the following year is deferred.

1.3
Investment property

Investment property, which is property held to earn rentals and/or for capital appreciation, is initially recognised at cost, which includes the purchase cost and any directly attributable expenditure. Subsequently it is measured at fair value at the reporting end date. Changes in fair value are recognised in profit or loss.

Fair value is determined by referring to open market valuations of the property portfolio as considered necessary by the directors to adjust for current market conditions. Deferred taxation is provided on these gains or losses at the rate expected to apply when the property is sold. The gains or losses are transferred to investment revaluation reserve to emphasise that such gains are not realised.

1.4
Fixed asset investments

Interests in subsidiaries, associates and jointly controlled entities are initially measured at cost and subsequently measured at cost less any accumulated impairment losses. The investments are assessed for impairment at each reporting date and any impairment losses or reversals of impairment losses are recognised immediately in profit or loss.

1.5
Taxation

The tax expense represents the sum of the tax currently payable and deferred tax.

Current tax

The tax currently payable is based on taxable profit for the year. Taxable profit differs from net profit as reported in the profit and loss account because it excludes items of income or expense that are taxable or deductible in other years and it further excludes items that are never taxable or deductible. The company’s liability for current tax is calculated using tax rates that have been enacted or substantively enacted by the reporting end date.

NN3 (2014) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
1
Accounting policies
(Continued)
- 4 -
Deferred tax

Deferred tax liabilities are generally recognised for all timing differences and deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Such assets and liabilities are not recognised if the timing difference arises from goodwill or from the initial recognition of other assets and liabilities in a transaction that affects neither the tax profit nor the accounting profit.

 

The carrying amount of deferred tax assets is reviewed at each reporting end date and reduced to the extent that it is no longer probable that sufficient taxable profits will be available to allow all or part of the asset to be recovered. Deferred tax is calculated at the tax rates that are expected to apply in the period when the liability is settled or the asset is realised. Deferred tax is charged or credited in the profit and loss account, except when it relates to items charged or credited directly to equity, in which case the deferred tax is also dealt with in equity. Deferred tax assets and liabilities are offset when the company has a legally enforceable right to offset current tax assets and liabilities and the deferred tax assets and liabilities relate to taxes levied by the same tax authority.

2
Judgements and key sources of estimation uncertainty

In the application of the company’s accounting policies, the director is required to make judgements, estimates and assumptions about the carrying amount of assets and liabilities that are not readily apparent from other sources. The estimates and associated assumptions are based on historical experience and other factors that are considered to be relevant. Actual results may differ from these estimates.

 

The estimates and underlying assumptions are reviewed on an ongoing basis. Revisions to accounting estimates are recognised in the period in which the estimate is revised where the revision affects only that period, or in the period of the revision and future periods where the revision affects both current and future periods.

3
Employees

The average monthly number of persons (including directors) employed by the company during the year was:

2024
2023
Number
Number
Total
-
0
-
0
4
Investment property
2024
£
Fair value
At 1 December 2023 and 30 November 2024
2,500,000

If the investment property had not been revalued it would have been included at historical cost of £1,204,439 (2023: £1,204,439). The investment property was valued on an open market basis on 30 November 2021 by the director.

NN3 (2014) LTD.
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED)
FOR THE YEAR ENDED 30 NOVEMBER 2024
- 5 -
5
Fixed asset investments
2024
2023
£
£
Shares in group undertakings and participating interests
49
49
6
Debtors
2024
2023
Amounts falling due within one year:
£
£
Corporation tax recoverable
37,418
-
0
Amounts owed by group undertakings and undertakings in which the company has a participating interest
2,834
1,873
Other debtors
155,367
210,489
195,619
212,362
7
Creditors: amounts falling due within one year
2024
2023
£
£
Corporation tax
48,438
37,418
Other taxation and social security
2,142
7,387
Other creditors
789,388
829,650
839,968
874,455
8
Revaluation reserve
2024
2023
£
£
At the beginning and end of the year
994,001
994,001
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