N & N 3 Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 10197986 (England and Wales)

Unaudited Financial Statements

for the Year Ended 31 May 2019

for

N & N 3 Limited

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTOR:

N Zamek

REGISTERED OFFICE:

The Office

Inglewood Mansions

289 West End Lane

London

NW6 1RE

REGISTERED NUMBER:

10197986 (England and Wales)

ACCOUNTANTS:

CAAS

Chartered Accountants

Suite 203, 2nd Floor

China House

401 Edgware Road

London

NW2 6GY

FIXED ASSETS

Investments

4

6

6

CURRENT ASSETS

Debtors

5

35,214,821

36,498,221

Cash at bank

105,502

10,812

35,320,323

36,509,033

CREDITORS

Amounts falling due within one year

6

8,305,352

9,494,063

NET CURRENT ASSETS

27,014,971

27,014,970

TOTAL ASSETS LESS CURRENT LIABILITIES

27,014,977

27,014,976

CREDITORS

Amounts falling due after more than one year

7

27,014,976

27,014,975

NET ASSETS

1

1

CAPITAL AND RESERVES

Called up share capital

1

1

1

1

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

The members have not required the company to obtain an audit of its financial statements for the year ended 31 May 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 applicable to companies subject to the small companies regime.

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 27 February 2020 and were signed by:

N Zamek - Director

1.	STATUTORY INFORMATION

N & N 3 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.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with the provisions of Section 1A "Small Entities" of

Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" and

the Companies Act 2006. The financial statements have been prepared under the historical cost convention, and in

accordance with the accounting policies set out below.

Preparation of consolidated financial statements

The financial statements contain information about N & N 3 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.

Turnover

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

tax and other sales taxes. Turnover is recognised over the period of the recharged expense. The interest is recognised as it

becomes receivable.

Investments in subsidiaries

Investments in subsidiaries are valued at cost less diminution in value where applicable.

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.

Provisions and accruals

Provisions are recognised when there is a present legal or constructive obligation as a result of past events and the amount

can be reliably estimated. Provisions are not recognised for future operating losses.

3.	EMPLOYEES AND DIRECTORS

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

4.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 June 2018

and 31 May 2019

6

NET BOOK VALUE

At 31 May 2019

6

At 31 May 2018

6

5.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Amounts owed by group undertakings

25,266,845

25,660,899

Amounts owed by associates

9,947,976

10,837,322

35,214,821

36,498,221

6.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.5.19

31.5.18

£

£

Amounts owed to group undertakings

8,208,778

9,393,878

Mortgage interest

95,074

95,385

Accrued expenses

1,500

4,800

8,305,352

9,494,063

7.

CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE YEAR

31.5.19

31.5.18

£

£

RBS loan

27,014,976

27,014,975

Amounts falling due in more than five years:

Repayable otherwise than by instalments

RBS loan

27,014,976

27,014,975

8.	SECURED DEBTS

The following secured debts are included within creditors:

31.5.19

31.5.18

£

£

Bank loans

27,014,976

27,014,975

CBRE Loan Services Limited holds fixed and floating charges over N & N 3 Limited. The floating charge covers all of the

property or undertaking of the company. The charges also contain a negative pledge.

The Royal Bank of Scotland PLC holds fixed and floating charges over N & N 3 Limited. The floating charge covers all of

the property or undertaking of the company. The charges also contain a negative pledge.