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Registered number: 10531529 (England and Wales)
NATIONAL CORPORATE HOUSING UK LTD
DIRECTOR'S REPORT AND FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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NATIONAL CORPORATE HOUSING UK LTD
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COMPANY INFORMATION
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ZEDRA Corporate Reporting Services (UK) Limited
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NATIONAL CORPORATE HOUSING UK LTD
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CONTENTS
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Statement of Changes in Equity
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Notes to the Financial Statements
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NATIONAL CORPORATE HOUSING UK LTD
REGISTERED NUMBER:10531529
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BALANCE SHEET
AS AT 31 DECEMBER 2024
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Debtors: amounts falling due within one year
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Creditors: amounts falling due within one year
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Total assets less current liabilities
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NATIONAL CORPORATE HOUSING UK LTD
REGISTERED NUMBER:10531529
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BALANCE SHEET (CONTINUED)
AS AT 31 DECEMBER 2024
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 by:
The notes on pages 4 to 9 form part of these financial statements.
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NATIONAL CORPORATE HOUSING UK LTD
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STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 31 DECEMBER 2024
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Gain on presentational currency translation
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NATIONAL CORPORATE HOUSING UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.Accounting policies
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Basis of preparation of financial statements
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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:
The Company is in a net liability position at the balance sheet date, as a result, the Company's parent company, The Atchison Group, Inc., have indicated their willingness to provide financial support as required for a period of at least 12 months.
The director has considered the financial performance and position of the parent company, together with forward looking information. The director has concluded that sufficient support will be available to ensure that the Company can continue as a going concern for a period of at least 12 months from the date of signing these financial statements. For this reason, the financial statements are prepared on the going concern basis.
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Exemption from preparing consolidated financial statements
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The Company, and the Group headed by it, qualify as small as set out in section 383 of the Companies Act 2006 and the parent and Group are considered eligible for the exemption to prepare consolidated accounts.
Turnover is recognised to the extent that it is probable that the economic benefits will flow to the Company and the turnover can be reliably measured. Turnover 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 turnover is recognised:
Rendering of services
Turnover 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 turnover 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.
Turnover is generated through either the Company's primary operation of sub-letting temporary, furnished corporate housing properties and other relocation services, or commissions received. As part of the Company's operation, commission is charged to property vendors at a predetermined percentage of the sales price for each occupancy and property.
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NATIONAL CORPORATE HOUSING UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.Accounting policies (continued)
Other operating income represents recharges from National Corporate Housing UK Ltd to fellow group entities in relation to UK employees performing duties solely outside the UK.
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.
The estimated useful lives range as follows:
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.
Investments in subsidiaries are measured at cost less accumulated impairment.
Short-term debtors are measured at transaction price, less any impairment. Amounts owed by group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.
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Cash and cash equivalents
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Cash is represented by cash in hand and deposits with financial institutions.
Short-term creditors are measured at the transaction price. Amounts owed to group undertakings are intercompany loans measured at cost. These loans are unsecured, interest free and repayable on demand.
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Foreign currency translation
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Functional and presentation currency
The Company's functional currency is GBP. This differs from the presentational currency which is USD. The reason for the difference is that the parent company is based in the United States of America
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NATIONAL CORPORATE HOUSING UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.Accounting policies (continued)
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Foreign currency translation (continued)
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Transactions and balances
Foreign currency transactions are translated into the functional currency using the spot exchange rates at the dates of the transactions.
At each period end foreign currency monetary items are translated using the closing rate. Non-monetary items measured at historical cost are translated using the exchange rate at the date of the transaction and non-monetary items measured at fair value are measured using the exchange rate when fair value was determined.
Foreign exchange gains and losses resulting from the settlement of transactions and from the translation at period-end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in profit or loss.
Foreign exchange gains and losses that relate to the translation of year end balances from the functional to presentational currency are presented in the Statement of Comprehensive Income as other comprehensive income and recognised through a foreign exchange reserve.
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Operating leases: the Company as lessee
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Rentals paid under operating leases are charged to profit or loss on a straight-line basis over the lease term.
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.
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Judgments in applying accounting policies and key sources of estimation uncertainty
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The preparation of financial statements requires management to make judgements, estimates and assumptions that affect the application of policies and recorded amount of assets and liabilities, income and expenses. The estimates and associated assumptions are based on historical experience and various other factors that are believed to be reasonable under the circumstances, the result of which form a basis for making judgements about the carrying value of assets and liabilities that are not readily apparent from other sources.
The estimates and assumptions that have significant risk of causing material misstatement to the carrying amounts of asset and liabilities are addressed below.
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NATIONAL CORPORATE HOUSING UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
1.Accounting policies (continued)
Valuation of investment in subsidiary
Management review the investment in the subsidiary annually for impairment indicators based on available financial and non-financial information. Management have taken into account recent and forecasted financial performance to form their assessment. The subsidiary remains in a net liability position at the reporting date as a result of allocated group costs but management anticipates the entity will achieve strong revenue growth and generate net profits in future years. This is a significant judgement based on estimation which may have a material impact on the financial statements.
The auditors' report on the financial statements for the year ended 31 December 2024 was unqualified.
The audit report was signed on 29 September 2025 by Adam Wildbore FCCA (Senior Statutory Auditor) on behalf of ZEDRA Corporate Reporting Services (UK) Limited.
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The average monthly number of employees during the year was 12 (2023 - 16).
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Charge for the year on owned assets
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NATIONAL CORPORATE HOUSING UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
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Investment in subsidiary company
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The Company owns 100% of the ordinary share capital in Waterside Apartments Limited, a company registered in England & Wales. The registered office address is Birchin Court 5th Floor, 19-25 Birchin Lane, London, United Kingdom, EC3V 9DU.
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Amounts owed by group undertakings
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Prepayments and accrued income
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Creditors: Amounts falling due within one year
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Amounts owed to group undertakings
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Other taxation and social security
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Accruals and deferred income
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NATIONAL CORPORATE HOUSING UK LTD
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NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 DECEMBER 2024
Foreign exchange reserve
The Company’s presentational currency, USD, differs from the functional currency, GBP. Gains or losses arising from translation for presentation in these financial statements are recorded in other comprehensive income and accumulated in the foreign exchange reserve.
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Related party transactions
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During the year, a net repayment of $6,309 was provided from NCH International Limited (2023: $83,227), a company under the common control of T Atchison.
As at 31 December 2024, an amount of $748,976 (2023: $742,667) is included within other debtors due from NCH International Limited.
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The Atchison Group, Inc., is the parent of the smallest group for which consolidated financial statements are drawn up of which the Company is a member. The registered office of the parent company is 8400 E. Crescent Parkway Suite, 300 Greenwood Village, Colorado, US, 80111.
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Post balance sheet events
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There were no adjusting or non-adjusting events occurring between the end of the reporting period and the date these financial statements were approved.
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