N R W Holdings Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 04925260 (England and Wales)

FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 DECEMBER 2019

FOR

N R W HOLDINGS LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

3

DIRECTORS:

Mr P Barrow

Mr D G Byrne

Mr G D Hill

SECRETARY:

Mr D A Sheehy

REGISTERED OFFICE:

327 Clifton Drive South

Lytham St. Annes

Lancashire

FY8 1HN

REGISTERED NUMBER:

04925260 (England and Wales)

AUDITORS:

Whitehead & Howarth

Statutory Auditors

327 Clifton Drive South

Lytham St Annes

Lancashire

FY8 1HN

BANKERS:

HSBC

Oxford Square

1 Newhouse Road

Blackpool

Lancashire

FY4 4YH

FIXED ASSETS

Intangible assets

4

-

-

Investments

5

477,013

2,837,572

477,013

2,837,572

CURRENT ASSETS

Debtors

6

8,896,985

4,210,320

Cash at bank

170,847

263,528

9,067,832

4,473,848

CREDITORS

Amounts falling due within one year

7

300,220

1,066,579

NET CURRENT ASSETS

8,767,612

3,407,269

TOTAL ASSETS LESS CURRENT LIABILITIES

9,244,625

6,244,841

CAPITAL AND RESERVES

Called up share capital

100,200

100,200

Share premium

2,783,287

2,783,287

Retained earnings

6,361,138

3,361,354

SHAREHOLDERS' FUNDS

9,244,625

6,244,841

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 Board of Directors and authorised for issue on 28 August 2020 and were signed on its behalf by:

Mr G D Hill - Director

1.	STATUTORY INFORMATION

N R W 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.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

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

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.

Significant judgements and estimates

Preparation of the financial statements requires management to make significant judgements and estimates. The

items in the financial statements where material judgements and estimates have been made include accruals,

which are based upon the anticipated expenditure and invoices.

Goodwill

Goodwill, being the amount paid in connection with the acquisition of a business in 2008, has been amortised

evenly over its estimated useful life of one year.

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.

Investments in subsidiaries

Investments in subsidiary undertakings are recognised at cost.

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.

3.	EMPLOYEES AND DIRECTORS

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

4.	INTANGIBLE FIXED ASSETS

Goodwill

£

COST

At 1 January 2019

and 31 December 2019

50,780

AMORTISATION

At 1 January 2019

and 31 December 2019

50,780

NET BOOK VALUE

At 31 December 2019

-

At 31 December 2018

-

5.	FIXED ASSET INVESTMENTS

Shares in

group

undertakings

£

COST

At 1 January 2019

2,837,572

Impairments

(2,360,559

)

At 31 December 2019

477,013

NET BOOK VALUE

At 31 December 2019

477,013

At 31 December 2018

2,837,572

6.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Amounts owed by group undertakings

8,895,541

4,210,320

Other debtors

1,444

-

8,896,985

4,210,320

7.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

31.12.19

31.12.18

£

£

Trade creditors

-

321

Amounts owed to group undertakings

300,000

1,064,283

Taxation and social security

220

26

Other creditors

-

1,949

300,220

1,066,579

8.	SECURED DEBTS

A debenture was registered on 11th November 2008 in respect of a fixed and floating charge over the

undertaking and all property and assets present and future including goodwill, book-debts, uncalled capital,

buildings, fixtures and plant and machinery.

Composite company limited multilateral guarantee dated 5th December 2008 given by NRW Holdings Limited,

RG14 Limited, Northern Refrigeration Limited, Just One Call Limited and Northern Refrigeration Wholesale

(FM) Limited.

9.	DISCLOSURE UNDER SECTION 444(5B) OF THE COMPANIES ACT 2006

The Report of the Auditors was unqualified.

Gareth Maddock (Senior Statutory Auditor)

for and on behalf of Whitehead & Howarth

10.	ULTIMATE CONTROLLING PARTY

In the opinion of the directors the company is controlled by Mr D G Byrne & Mr D A Byrne who jointly control

the majority shareholding of Fridge Spares Holdings (Wholesale) Limited.

11.	ULTIMATE PARENT COMPANY

The Ultimate Parent Company at 31st December 2019 was Fridge Spares Holdings (Wholesale) Limited, a

company registered in the Republic of Ireland, company number 609636.

Fridge Spares Holdings (Wholesale) Limited holds 100% of the share capital of Fridge Spares Wholesale

Limited which owns NRW Holdings Limited through its 100% holding in RG14 Limited.

Consolidated financial statements will be prepared by Fridge Spares Wholesale Ltd for the period to 31st

December 2019 and it's registered office is Delta House, Fairway, Bridgtown, Cannock, Staffordshire, WS11

0DJ.