N & I Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 09810149 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 JANUARY 2019

FOR

N & I HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

I S Toot

SECRETARY:

Ms N K Toot

REGISTERED OFFICE:

2a Sylvan Avenue

Hornchurch

Essex

RM11 2PN

REGISTERED NUMBER:

09810149 (England and Wales)

ACCOUNTANTS:

McCabe Ford Williams

Chartered Accountants

2 The Links

HERNE BAY

Kent

CT6 7GQ

FIXED ASSETS

Intangible assets

5

375,170

190,000

Tangible assets

6

28,160

35,200

Investments

7

300

200

Investment property

8

1,810,225

1,310,000

2,213,855

1,535,400

CURRENT ASSETS

Debtors

9

126,900

9,067

Cash at bank

1,500

1,833

128,400

10,900

CREDITORS

Amounts falling due within one year

10

340,116

443,767

NET CURRENT LIABILITIES

(211,716

)

(432,867

)

TOTAL ASSETS LESS CURRENT LIABILITIES

2,002,139

1,102,533

CREDITORS

Amounts falling due after more than one year

11

(1,539,929

)

(849,990

)

PROVISIONS FOR LIABILITIES

(5,350

)

(6,688

)

NET ASSETS

456,860

245,855

CAPITAL AND RESERVES

Called up share capital

13

100

100

Fair value reserve

14

68,315

68,315

Retained earnings

388,445

177,440

SHAREHOLDERS' FUNDS

456,860

245,855

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 January 2019.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 January 2019 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his 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.

The financial statements have been prepared and delivered in accordance with the provisions of Part 15 of the Companies Act 2006 relating to small companies.

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

The financial statements were approved by the director on 12 August 2019 and were signed by:

I S Toot - Director

1.	STATUTORY INFORMATION

N & I Holdings 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.

The presentation currency of the financial statements is the Pound Sterling (£).

2.	STATEMENT OF COMPLIANCE

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.

3.	ACCOUNTING POLICIES

Basis of preparing the financial statements

The financial statements have been prepared under the historical cost convention.

Preparation of consolidated financial statements

The financial statements contain information about N & I Holdings Limited as an individual company and do not

contain consolidated financial information as the parent of a group. The company is exempt under Section

399(2A) of the Companies Act 2006 from the requirements to prepare consolidated financial statements.

Related party exemption

The company has taken advantage of exemption, under the terms of Financial Reporting Standard 102 'The

Financial Reporting Standard applicable in the UK and Republic of Ireland', not to disclose related party

transactions with wholly owned subsidiaries within the group.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates,

value added tax and other sales taxes.

Goodwill

Goodwill, being the amounts paid in connection with the acquisition of businesses in 2016, 2017 and 2018, is

being amortised evenly over their estimated useful lives of ten years.

Intangible assets

Intangible assets are initially measured at cost. After initial recognition, intangible assets are measured at cost

less any accumulated amortisation and any accumulated impairment losses.

Tangible fixed assets

Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.

Fixtures and fittings

-

20% on reducing balance

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.

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.

Going concern

The accounts have been prepared on the going concern basis, as the director has guaranteed his full support to

the company to meet obligations as they fall due.

4.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was 2 (2018 - 1 ) .

5.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 February 2018

235,000

Additions

231,856

At 31 January 2019

466,856

AMORTISATION

At 1 February 2018

45,000

Amortisation for year

46,686

At 31 January 2019

91,686

NET BOOK VALUE

At 31 January 2019

375,170

At 31 January 2018

190,000

6.	TANGIBLE FIXED ASSETS

Fixtures

and

fittings

£

COST

At 1 February 2018

and 31 January 2019

55,000

DEPRECIATION

At 1 February 2018

19,800

Charge for year

7,040

At 31 January 2019

26,840

NET BOOK VALUE

At 31 January 2019

28,160

At 31 January 2018

35,200

7.	FIXED ASSET INVESTMENTS

Other

investments

£

COST

At 1 February 2018

200

Additions

100

At 31 January 2019

300

NET BOOK VALUE

At 31 January 2019

300

At 31 January 2018

200

8.	INVESTMENT PROPERTY

Total

£

FAIR VALUE

At 1 February 2018

1,310,000

Additions

500,225

At 31 January 2019

1,810,225

NET BOOK VALUE

At 31 January 2019

1,810,225

At 31 January 2018

1,310,000

Two investment properties were subject to a valuation by Davis Coffer Lyons in February 2018. The valuation is

based upon the stand alone freehold value of properties. The director does not believe these value to have

changed in the period.

An additional investment property was acquired during the period and this is reflected at acquisition cost, on the

basis it was a fair market value when acquired and the director does not believe the value has changed in the

short period of ownership.

Had investment property not been revalued, it would be held at historic cost of £1,741,910.

9.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Amounts owed by group undertakings

-

7,167

Other debtors

126,900

1,900

126,900

9,067

10.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2019

2018

£

£

Bank loans and overdrafts

86,147

55,061

Trade creditors

-

1

Amounts owed to group undertakings

59,747

21,800

Taxation and social security

61,784

33,218

Other creditors

132,438

333,687

340,116

443,767

11.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

2019

2018

£

£

Bank loans

1,539,929

849,990

Amounts falling due in more than five years:

Repayable by instalments

Bank loans more 5 yr by instal

-

616,246

12.	SECURED DEBTS

The following secured debts are included within creditors:

2019

2018

£

£

Bank loans

1,626,076

905,051

Barclays Bank plc hold a fixed charge over the investment properties held by the company.

In addition to the fixed charges, Barclays Bank plc also holds a fixed and floating charge over all other assets of

the company.

13.	CALLED UP SHARE CAPITAL

Allotted, issued and fully paid:

Number:

Class:

Nominal

2019

2018

value:

£

£

100

Ordinary

£1

100

100

14.

RESERVES

Fair

value

reserve

£

At 1 February 2018

and 31 January 2019

68,315

15.	RELATED PARTY DISCLOSURES

Within other creditors is an amount due back to the director of £129,438 (2018: £332,487).

The loan is currently interest free as it is repayable on demand.

Within other debtors is £125,000, which has been loaned to Care Serve Holdings Ltd. A company in which Mr &

Mrs Toot own a third of the issued share capital.

The company is under the control of Mr & Mrs Toot, by virtue of them holding 100% of the issued share capital.